iQ Power AG

DGAP-Adhoc: iQ Power AG: iQ Power AG announces results of capitalisation measures and publishes 2013 annual report

iQ Power AG  / Key word(s): Final Results/Corporate Action

30.04.2014 20:00

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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iQ Power AG announces results of capitalisation  measures and publishes
2013 annual report

  - EUR 1.43 million in proceeds from the capital increase and exercise of
    option rights

  - Revenues low for the year 2013

  - Total earnings for 2013 improve following elimination of one-off
    restructuring costs

  - All known risks taken into account in the 2013 consolidated financial
    statements

  - Positive outlook thanks to new licence income since Q1 2014

Zug/Switzerland, 30 April 2014 - iQ Power AG (ISIN: CH0020609688, German
Securities Code Number (WKN): A0DQVL / Symbol: IQPB, ISIN: CH0199540599 /
German Securities Code Number (WKN): A1J7TW), a developer and marketer of
technologies for environmentally friendly and technologically innovative
starter batteries for motor vehicles and licences in these technologies,
has published its figures for the 2013 financial year and announced the
results of the most recent capitalisation measure.

Capitalisation measure
Following the subscription right offer dated 3 April 2014 with the private
placement and exercise of option rights, voting and preferred shares with a
gross value of EUR 1.43 million have been subscribed. Proceeds in the
amount of EUR 1.18 million were allocated to the capital increase
(subscription of 92.5 million voting and preferred shares) and EUR 0.25
million to the exercise of 18.1 million option rights.

The total number of outstanding shares for iQ Power AG increased to some
879.4 million, including 456.9 million common shares (ISIN: CH0020609688)
and 422.5 million voting and preferred shares (ISIN: CH0199540599).

The results do not include additional subscriptions that are pending and
legally binding. These were paid on time, but the funds have not yet been
deposited to the company's account due to technical problems at the bank.

Following the capital increase, the application for stock listing of the
new voting and preferred shares (WKN A0DQVL / ISIN CH0199540599) on the
Baden-Württemberg Stuttgart exchange has been formally revised. This will
not cause a further time delay.

2103 annual report
In the 2013 financial year, consolidated revenues were EUR 15,000 (prior
year: EUR 151,000). As part of its strategic reorientation, iQ Power AG has
not been involved in battery production, trading and sales since the 2012
financial year. The development of licence revenue was impacted by a weaker
than expected start-up at the licensee Smart Battery, USA and years of
slowdown in production at the licensee iQ Power Asia, South Korea. Sales
operations at new licensee Discover Energy resulted in positive, continuous
revenues only after the reporting period - in the first quarter of 2014.

Earnings for the year improved significantly, from a loss of EUR 4.4
million in the prior year to EUR -1.7 million in 2013. The reason for the
improvement was the elimination of one-time restructuring costs. In spite
of extra expenses for development and manufacture of injection moulding
tools for producing iQP-2 mixing components, operating costs increased only
slightly to EUR 1.7 million (2012: EUR 1.5 million).

Overall, the lower losses, the redemption of the convertible bond for
2010-2013 and two capital increases, along with the restructuring measures,
had a major effect on the balance sheet figures. Current assets amounted to
around EUR 0.3 million as at 31 December 2013 (previous year: EUR 1.2
million), while non-current assets were essentially unchanged year-on-year
at EUR 3.4 million as of the balance sheet date (previous year: EUR 3.6
million). Current liabilities declined to EUR 2.2 million (previous year:
EUR 2.8 million), while non-current liabilities decreased from EUR 0.9
million in the previous year to EUR 0.6 million. Reported equity amounted
to around EUR 1.0 million as at 31 December 2013 (previous year: EUR 1.1
million), while total assets amounted to EUR 3.8 million after EUR 4.8
million in the previous year. This resulted in an equity ratio of 27%. Cash
and cash equivalents amounted to EUR 0.1 million at the reporting date
(previous year: EUR 1.0 million).

The 2013 consolidated financial statements of iQ Power AG take into account
all known risks to which the Company is exposed.

In light of the successful realignment of iQ Power AG as a technology
developer and licensor, a vastly streamlined corporate and cost structure,
reinforcement of the capital base with the most recent measures and the
licence income since the first quarter of 2014, the company believes that
it has laid the foundations for successful future development and is
confident about the outlook for the rest of 2014.

The CEO

Further information can be found in iQ Power AG's 2013 Annual Report, which
is now available to download from iQ's website at www.iqpower.com.

About iQ POWER
iQ Power develops and markets technologies for new types of starter
battery. At the heart of this technology are the world's first starter
batteries to feature more efficient automated electrolyte mixing with
passive elements - a patent of iQ Power.

For iQ Power's licensees, the new generation of starter batteries offers
significant advantages in terms of increased customer benefit, higher
product reliability and life cycle stability, a longer useful life and
improved environmental and resource protection. In 2010, this ecological
innovation won iQ Power the prestigious Automechanika Innovation Award for
outstanding product innovation.

As a stock corporation, iQ POWER AG is a listed company. The company's
securities are traded on the regulated market (General Standard) of the
German Stock Exchange in Frankfurt, over the counter on the stock exchanges
in Berlin, Düsseldorf, Munich and Stuttgart as well as via XETRA (ISIN:
CH0020609688, German Securities Code Number (WKN): A0DQVL, IQPB).


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Language:     English
Company:      iQ Power AG
              Metallstrasse 6
              6304 Zug
              Switzerland
Phone:        +41 41 7680360
Fax:          +41 41 768 03 68
E-mail:    investor-relations@iqpower.com
Internet:  www.iqpower.com
ISIN:         CH0020609688
WKN:          A0DQVL
Listed:       Regulierter Markt in Frankfurt (General Standard);
              Freiverkehr in Berlin, Düsseldorf, München, Stuttgart

End of Announcement                             DGAP News-Service

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