YVERDON LES BAINS, Switzerland and DALLAS - May 4, 2018 (Investorideas.com Newswire) Leclanché SA (SIX: LECN), one of the world's leading energy storage solution companies, today announced its results for the full year ending 31 December 2017. Consolidated revenues for fiscal year 2017 were CHF 18 million, down from CHF 28.5 million in 2016; the EBITDA loss for the year amounts to CHF (31.8) compared to a loss of CHF (28.4) million the previous year.
The revenue shortfall in 2017 was due to funding delays in growth capital, as announced at the AGM on 26 July 2017, which impacted the delivery of a number of projects. The funding is now secured, all projects are now being executed and the resulting lost revenues in 2017 will be generated and accounted for in 2018.
Leclanché is working on a confirmed order book of over 50 MWh which should contribute CHF 40-50 million of revenue in 2018. In addition, we are looking forward to achieving the milestone of 100 MWh in operation by end 2018. The Company expects to be EBITDA positive by 2020.
Anil Srivastava, CEO of Leclanché, said: "The opportunity for Leclanché is now. We are well on our way to hitting the milestone of 100 MWh of storage projects in operation by 2018. This is the result of a 5-year growth plan with confirmed projects and partners worldwide in the fast-growing market of energy storage solutions.
In addition, in the e-transport business, we have already secured multi-year annuity agreements with partners around the world, including in India with a leading automotive integrator and in Europe with Skoda Electric. This market is also growing substantially worldwide as it moves beyond the trials and tests phase and as governments are increasingly setting clear directives which push the industry towards green technology.
This is a very special time in Leclanché's history. The electricity and transport industries are experiencing unprecedented changes and Leclanché has never been better positioned to meet the needs of both the disruptors and the incumbents who are changing the way we produce, distribute and consume electricity and the way we transport people and products, as we move towards a clean energy future.
The opportunities have never been so exciting for Leclanché. Our organisation and expertise are geared entirely towards capitalising on what we see as a paradigm shift in these industries. Our partners, be they utilities, electric vehicles manufacturers or electricity network operators tell us that it is our independence and technological superiority, supported by our culture of German engineering and Swiss precision that continue to make us their partner of choice."
The Company is also announcing today that it is in advanced JV discussions with partners in China and India for both product sales and high-volume production, further cementing its position as the "go to" provider of high quality energy storage solutions to disruptors and incumbents across the world.
The Company is delivering on the following orders:
(in million CHF)
For further details, please refer to the full 2017 annual report which is accessible on the Company's web site http://www.leclanche.com/investor-relations/financial-reports-publications/annual-reports/
Leclanché has built a world-class international leadership team. On the lines of the announcement made during the AGM held in July 2017, the Company is now organised along three business units: Stationary Storage Solutions, eTransport Solutions, Specialty Batteries Systems. Hubert Angleys, Chief Financial Officer, has been promoted to also serve as Chief Operating Officer. Stefan Louis, has been promoted to be the Executive Vice President of eTransport Business Unit.
The Executive Committee of the Company is as follows:
Headquartered in Switzerland, Leclanché SA (SIX: LECN) is a leading provider of high quality energy storage solutions designed to accelerate our progress towards a clean energy future.
Leclanché's history and heritage is rooted in over 100 years of battery / energy storage innovation. The Company is a trusted provider of energy storage solutions globally, which coupled with the company's tradition of Swiss precision and highest quality engineering, continues to make Leclanché the partner of choice for both disruptors, established companies and governments who are pioneering positive changes in how energy is produced, distributed and consumed around the world.
The energy transition is being driven primarily by changes in our electricity networks and advancements in all types of EVs, and these two end markets form the backbone of our strategy and business model. Leclanché is at the heart of the convergence of the electrification of transport and the changes in the distribution network. Leclanché is the only listed pure play energy storage company in the world and is listed on the Swiss Stock Exchange.
SIX Swiss Exchange: ticker symbol LECN | ISIN CH 011 030 311 9
This press release contains certain forward-looking statements relating to Leclanché's business, which can be identified by terminology such as "strategic", "proposes", "to introduce", "will", "planned", "expected", "commitment", "expects", "set", "preparing", "plans", "estimates", "aims", "would", "potential", "awaiting", "estimated", "proposal", or similar expressions, or by expressed or implied discussions regarding the ramp up of Leclanché's production capacity, potential applications for existing products, or regarding potential future revenues from any such products, or potential future sales or earnings of Leclanché or any of its business units.
You should not place undue reliance on these statements. Such forward-looking statements reflect the current views of Leclanché regarding future events, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. There can be no guarantee that Leclanché's products will achieve any particular revenue levels. Nor can there be any guarantee that Leclanché, or any of the business units, will achieve any particular financial results.
Publication of results
Leclanché SA published today its annual report which is available in pdf format on the Company website: http://www.leclanche.com/investor-relations
T: +41 (0)79 785 35 81
T: +41 (0) 79 703 87 28
T: +44 (0) 7775 522 740
T: +44 (0)7768 698 731
US and Canada:
T: +1 (718) 986-1596
T: +1 (212) 808-4901
Anil Srivastava / Hubert Angleys
Tel.: +41 (0) 24 424 65 00
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