Heliocentris Energy Solutions AG announced unaudited earnings results for the first half year of 2014. For the period, the company recorded a significant increase in sales compared to the same period last year from EUR 1,844,000 in 2013 to EUR 4,476,000 in 2014. This increase is primarily due to the signing of major contracts with customers in Myanmar and Germany in the segment Information & Communication Technologies reflected in the sales of EUR 3,578,000 in the first half 2014. The net loss increased to EUR 6,409,000 in the first half of 2014, due to higher interest expenses of EUR 350,000 as a result of the convertible bonds issued in the first half of the year. The company reported net loss of EUR 5,712,000 reported in the year 2013.

The management is confident that the rise of the net loss in the second half of the year will be significantly reduced with the expected increase in sales and will therefore remain below the level of the previous year.

Management expects to at least triple sales 2014 compared to the previous fiscal year.