Newave showed a strong performance during the first half of 2011 with growth in net sales – at constant exchange rates – of 11.5%. The weak Euro and US Dollar had their effects on consolidated net sales, which increased by 2.8% to CHF 40.1 million compared to CHF 39.0 million in the first half of 2010. Newave grew again stronger than its addressed markets and was able to strengthen its position as technology leader in the 3-phase UPS market. The Company succeeded in maintaining its high level of profitability. Operating profit (EBIT) remained unchanged to the previous year period at CHF 5.1 million, representing a margin of 12.7% (13.0% in H1 2010). However, on a currency-adjusted basis, the EBIT margin in the current half year period came to 13.5%. Newave ended the first half of 2011 with net profit for the period at CHF 3.4 million versus CHF 3.5 million last year.

In 2010, Newave managed another challenging year very successfully,and reports an increase in net sales of 3.1%, and an improvement in profitability, despite the severe weakening of the Euro against the Swiss franc. Overall, Newave generated consolidated net sales of CHF 80.6 million compared to CHF 78.1 million in 2009. In constant currency, net sales have grown by about 9%. EBIT improved to CHF 10.8 million (13.4% margin), and net profit for the period increased to CHF 8.1 million. This solid performance illustrates that Newave continued to implement its strategy of profitable growth and remained a market leader in 3-phase UPS technology during 2010.

For 2011, Newave targets a stronger organic growth in net sales and a further increase in constant currency profitability.

The Board of Directors will propose to the Annual General Meeting of Shareholders in May 2011 a dividend of CHF 1 per registered share, and the cancellation of the voting rights limitation.

 NEWAVE ENERGY BOARD OF DIRECTORS ANNOUNCES

CHANGE IN THE CEO POSITION OF NEWAVE ENERGY

Newave Group reports net sales of CHF 39.41 million for the first half of 2009, marginally lower than in the first half 2008. EBITDA for the first half was at CHF 6.67 million and EBIT at CHF 5.45 million, reflecting an EBIT margin of 13.8 %. Net profit for the period was CHF 4.40 million. Despite the challenging economic environment, Newave has managed to keep consolidated sales at a level close to last year and to protect its profitability.