United Power Technology AG announced earnings results for the six months of 2015. For the six months, the company reported that it has increased its revenues by 17.7% to EUR 62.1 million. This development was mainly due to currency effects as a result of a weaker Euro compared to the same period last year as the revenues are denominated in RMB and USD. Year-on-year the operating result increased slightly by 7.3% to EUR 7.7 million representing an EBIT margin of 12.3% after 13.5% in the first six months 2014. The net profit remained practically unchanged at EUR 5.1 million in the first half 2015.

The company confirmed its outlook for 2015. It expects the overall financial results in the full year 2015 again to be weaker than in 2014. Concerning the group revenues United Power predicts to halt the downward trend in 2015 assuming a stable RMB:EUR exchange rate of 6.7:1. Although the company predicts to halt the downward trend of group revenues in 2015, the management foresees gross margin and EBIT margin to drop by about 2% - 5% points. The latter is mainly due to further price adjustments, higher fixed asset depreciation as well as a significant step up in sales, brand building and distribution as well as research and development budget.