Heliocentris Energy Solutions AG announced earnings results for the year 2015. For the year, the company generated revenues of EUR 22.1 million compared to EUR 18.9 million a year ago, an increase of 17% over 2014. The gross profit from revenue of the group decreased by EUR 2.9 million, from EUR 231,000 profit in the business year 2014 to a loss of EUR 2.7 million in the business year 2015, equal to minus 12.7% on revenue. The loss before tax, interest and depreciation was EUR 13.8 million compared to EUR 9.5 million a year ago. The main reasons for this were: significant one-off costs from the capital increase and Stock Exchange segment change in May 2015; additional costs for investments in connect software for Smart Analytics and Power Management as well as in the GenStore hydrogen battery product line; start-up costs from build-up of service operations in Myanmar. The loss in 2015 increased by EUR 9.0 million from EUR 9.8 million in 2014 to EUR 18.8 million.

Based on this progress the management board expects significant increases in revenues for 2016 and 2017. Due to the expected increases in revenues combined with the reduced fix cost burn-rate, the company expects a significantly improved result for 2016, mainly driven by the second half of the year, as well as achieving operating break even in 2017.