APR.L Regulatory News (APR)

For Immediate Release 17 May 2012

APR Energy plc

Q1 INTERIM MANAGEMENT STATEMENT

·; Strong first quarter delivering 170% underlying revenue growth

·; Secured 284MW of new contracts year to date

·; Extended 196MW of contracts year to date

·; Two regional hubs opened in Q1 2012. Malaysia hub on track for Q3 opening

APR Energy plc ("APR" or "the Company"), a global leader in temporary power solutions, today issues its Interim Management Statement covering the period from 1 January 2012 to today's date. 

TRADING

APR has continued to deliver significant growth in the first months of 2012 and experienced further acceleration in contract wins into Q2. Group revenues in the three-month period ending 31 March 2012 totalled $78 million (Q1 2011: $29 million). Adjusted EBITDA margins during Q1 2012 have been strong and in line with historical levels.

As previously announced, the Company has achieved new contract wins of 284MW year to date, with additional projects in Africa, Latin America and the Middle East. All these new contracts are expected to be operational in 2012. 

The Company was also successful in extending 196MW of existing contracts in Africa, Latin America and the Caribbean.

As of 31 March 2012, total fleet capacity was 960MW compared to 421MW at the end of Q1 2011 and 900MW at year end 2011.

FINANCIAL POSITION

The Company had new fleet investment of $39 million for the three-month period ended 31 March 2012. As of 31 March 2012, the Company had no debt outstanding. Cash on hand as of 31 March 2012 totalled $55 million. The Company enjoys a strong financial position with which to invest in fleet and maintains a $400 million credit facility from which it has drawn cash of $50 million since 31 March.

OPERATIONS

APR continues to make significant progress on key strategic initiatives that will enhance its capability to meet customer needs with rapid deployment of temporary power solutions.

APR's strategic partnerships with Pratt & Whitney and Caterpillar/Ring Power have allowed the Company to continue to expand its fleet at competitive pricing levels. These relationships have also allowed the Company to improve its products through engineering and operations collaboration, as well as delivering further efficiency benefits in supply chain and aftermarket infrastructures. 

The Company has made great strides in its regional hub strategy with both our Panama and Dubai facilities becoming operational in Q1 2012 and our Asian hub in Malaysia on track to open in Q3 2012. Opening the hubs has delivered immediate benefits, with a recent contract in the Middle East, APR was able to mobilise and become operational within a 20-day period compared to historical levels of 90-120 days. The Company sees its hub strategy as a critical development in its evolution.

Outlook

The rapid growth of the Company, robust order book, and strength of its new business pipeline put APR Energy in a good position to meet our expectations for the full year. The Company has enjoyed a strong start to the financial year and is well positioned to capitalise on the significant structural demand for power solutions, particularly in the emerging market economies.

Chief Executive Officer John Campion stated: "We are very pleased with the new contracts and extensions signed in 2012 to date. This success shows APR's ability not only to continue our rapid growth, but in doing so to maintain our operational excellence and meet our customers' expectations." 

Our next trading update will be in July 2012.

Note: All financial information used in this statement is unaudited.

Conference Call

There will be a conference call investors and analystsat 08.30 BST today.

Dial-in details: Telephone +44 (0) 20 3003 2666. Password: APR

Once the call is finished, it will be available on our website, www.aprenergy.com, and a replay will be available for 14 days: Replay telephone +44 (0) 20 8196 1998. Access Pin: 5300778

Enquiries to:

Brian Gallagher. Investor Relations

+44 (0) 203 427 3747

brian.gallagher@aprenergy.com

Anthony Carlisle, Citigate Dewe Rogerson Consultancy

+44 (0) 20 7638 9571

+44 (0) 7973 611 888

anthony.carlisle@citigatedr.co.uk

About APR Energy plc:

Based in Jacksonville, Florida, and quoted on the London Stock Exchange, APR is a fast growing, pure play fast-track provider of large-scale, temporary power solutions. It is focused on the rapidly growing power plant market in emerging markets, where the supply/demand imbalance is most acute, as well as event-led opportunities. APR designs, installs, operates and maintains turnkey power solutions, used for applications, including peak shaving, distributed generation, supplemental power, grid stability and support, emergency generation and Industrial power generation. Its fleet is technologically advanced and is differentiated by its ability to provide dual fuel turbine generators as well as diesel and natural gas modules. Additional information can be found at: www.aprenergy.com.

Forward looking statements

All statements other than statements of historical fact included in this Interim Management Statement are forward-looking statements. Such forward-looking statements, which reflect management's assumptions made on the basis of information available to it at this time, involve known and unknown risks, uncertainties and other important factors which could cause the actual results, performance or achievements of APR Energy plc, or the market and economies in which APR Energy plc operates, to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Without limitation to the foregoing, nothing in this Interim Management Statement is to be regarded as a profit forecast.