APR Energy sees 2015 results significantly below expectations

(Adds analyst comments, details, updates share movement)

June 16 (Reuters) - APR Energy Plc (Other OTC: APRYF - news) said it expected its 2015 results to be significantly below market expectations, hurt by higher-than-anticipated costs of exiting from Libya and delayed contract negotiations.

Shares (Berlin: DI6.BE - news) in the provider of temporary power systems fell as much as 37 percent, making the stock the second largest percentage loser on the London Stock Exchange (Other OTC: LDNXF - news) .

Jacksonville, Florida-based APR, which reports its results in U.S. dollars, said its results would also take a hit from currency movements, especially in Australia and Indonesia.

The Australian dollar has lost about 5 percent while the Indonesian Rupiah has declined about 7 percent against the dollar since the beginning of the year.

Liberum analysts lowered their full-year core earnings (EBITDA) forecast for APR to $75 million from $123 million and raised their pretax loss expectation to $87 million from $37 million.

APR, which rents out 25-megawatt turbines and generators, reported in April a pretax loss of $723.6 million and adjusted EBITDA of $189.3 million for 2014.

The company had also warned then that its 2015 net loss would be in line with or larger than expectations, hinging on how fast it could redeploy equipment from Libya, where it terminated its contract as the government failed to ratify it.

"Guidance at the beginning of the year was predicated on an expectation that contracts being pursued would have a financial impact by the fourth quarter of 2015," APR said.

"While those opportunities still exist... customer decisions about deals in the pipeline have been pushed out until later in the year."

Demand for temporary energy has been increasing in developing markets where utilities have not been able to keep up with fast-paced economic growth.

However, APR's focus on emerging markets has left it exposed to geopolitical uncertainty, forcing it to issue a slew of warnings and exit some regions.

APR cautioned on Tuesday that the expected revenue delay could prevent it from meeting its financial covenants the next quarter onwards.

The company had in April managed to secure a renegotiation on its credit facility and avoid breaching its debt covenants following its exit from Libya.

"Further cuts to forecasts, the absence of new contract wins and another round of banking concerns are likely to see the shares trade at a significant discount," Liberum analysts wrote in a note, keeping their target price of 425 pence on the stock.

APR shares were down 26.5 percent at 256 pence at 0954 GMT. (Reporting by Esha Vaish in Bengaluru; Editing by Anupama Dwivedi)