United Power Technology AG reported earnings results for the first quarter of 2014. For the period, the company's revenues were amounting to €23.7 million. This is encouraging due to the fact that the company had a strong first quarter 2013 and against the background of unfavourable exchange rates effects in the reporting period 2014. The operating profit (EBIT) reached €2.9 million in the first three months of 2014 against €3.7 million a year ago. This decline is due to a lower gross profit as well as a decrease in other operating income. Other operating income decreased by approximately 70%, mainly influenced by exchange rate losses on foreign currency working capital items and cash balances resulting from the strong Euro.

The company confirmed its outlook for 2014 as published in the annual report 2013. Total revenues are expected to be slightly lower in 2014 compared to the previous year due to slightly lower revenues in the residential and commercial generator segments. With respect to the company's profitability, gross profit and the EBIT margin are also expected to be somewhat lower compared to 2013 due to expected further RMB appreciation and higher fixed asset depreciation as well as a larger research and development budget.