Leclanché SA

EQS-Adhoc: Leclanché reports 56% revenue growth for 2016 in line with guidance and a strong growth outlook for 2017


EQS Group-Ad-hoc: Leclanché SA / Key word(s): Miscellaneous
Leclanché reports 56% revenue growth for 2016 in line with guidance and a strong
growth outlook for 2017

22-Feb-2017 / 06:30 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
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Leclanché reports 56% revenue growth for 2016 in line with guidance and a strong
growth outlook for 2017

YVERDON LES BAINS, Switzerland, February 22, 2017:Leclanché SA (SIX: LECN), one
of the world's leading vertically integrated energy storage solution companies,
announced today its unaudited preliminary revenue of over CHF28 million for the
year ended 31st December 2016, in line with guidance issued in last year's
Interim Report and October statement.

Anil Srivastava, CEO of Leclanché SA, said: "This second consecutive year of
above-market growth has been possible through successful ramping up of our
execution capability. We have a solid base for delivering yet another year of
growth in 2017. We are now focused on project financing and securing new
projects for 2018 and beyond. Fundamentals for our business are strengthening
considerably with improving traction and conversion across our pipeline."

- Revenue growth of approximately 56% for 2016 compared to 2015.

- Record 50MW / 22MWh of utility-scale energy storage projects are under
construction in North America validating Company's worldwide execution
capability.

- Our 85MWh order backlog for delivery in 2017 is solid, further supported by
the recent exclusivity agreement with a leading European utility to construct a
33MWh project in Germany.

- Our Company is on track to deliver above-market revenue growth in 2017. Growth
is supported by the current pipeline of awarded and expected projects which
stands at over 450 MWh. Guidance for breakeven EBITDA profitability above 100MWh
production is envisaged by 2018.

- The previously announced funding plan to support our business plan is
well-advanced, which shall draw upon a combination of project finance, corporate
debt and equity investment from existing and new shareholders.

 

- Capital efficiency continues to improve with increased access to off-balance
sheet project financing. In December 2016, Maple Leaf LP, the holding company
for our previously announced Canadian project, successfully secured a
construction loan to build and commission the first two sites for IESO project
totalling 12MWh (27MW) near Toronto, which represents the first portion of a
53MWh development for IESO. This follows financing by SGEM of our 10MWh (23MW)
Marengo project in the Chicago-area which we announced in November 2016, for
which we have already delivered the battery energy storage system.

- Leclanché is in advanced discussions with several parties in China as we
continue to progress plans to develop strategic partnerships in the areas of
technology licensing, low-cost manufacturing and access to the Chinese domestic
market, in particular the more than $100bn e-transport market. However, our
announced partnership with Narada remains on hold due to China's widely reported
capital controls and changes to local market technical specifications.


Growth targets are subject to a number of factors, including supply chain
capacity and timely access to capital. The company maintains its focus on
capital efficiency and limiting shareholder dilution in funding growth.

About Leclanché
Leclanché is one of the world's leading fully vertically integrated energy
storage solution providers. It delivers a wide range of energy storage solutions
for homes, small offices, large industries, electricity grids, as well as
hybridization for mass transport systems such as bus fleets and ferries.
Established in 1909, Leclanché has been a trusted provider of battery energy
storage solutions for over 100 years. Founded in the tradition of Georges
Leclanché, the inventor of the dry cell battery, Leclanché today has a rich
portfolio of Battery Energy Storage Systems (BESS) that include bespoke battery
systems from industry leading lithium-ion solutions.

Leclanché is listed on the Swiss stock exchange, and is the only listed
pure-play energy storage company in the world.

SIX Swiss Exchange: ticker symbol LECN | ISIN CH 011 030 311 9

Disclaimer
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.

Investor Contacts
Anil Srivastava / Hubert Angleys
Leclanche
Tel.: +41 (0) 24 424 65 00
E-Mail:invest.leclanche@leclanche.com

Media Contacts
Europe and UK
Simon Barker
+44 (0)7866 314331
sbarker@questorconsulting.com
# # #

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End of ad hoc announcement------------------------------------------------------

Language: English

Company:  Leclanché SA

          Av. des Sports 42

          1400 Yverdon-les-Bains

          Switzerland

Phone:    +41 (24) 424 65-00

Fax:      +41 (24) 424 65-20

E-mail:investors@leclanche.com

Internet: www.leclanche.com

ISIN:     CH0110303119, CH0016271550

Valor:    A1CUUB, 812950

Listed:   SIX Swiss Exchange



 

End of Announcement EQS Group News Service

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546447  22-Feb-2017 CET/CEST
 



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