PARIS and MILAN, September 22, 2016 /PRNewswire/ --
The Board of Directors of Electro Power Systems S.A. ("EPS", or the "Group"), a pioneer in technology for clean-energy storage solutions, chaired by Massimo Prelz Oltramonti, has examined and approved its Half-Year 2016 Financial Report.
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FINANCIAL OPERATIONAL HIGHLIGHTS
Read more here: http://electropowersystems.com/eps-accelerates-development-and-strenghtens-its-management-team/
In the first half of 2016, the Group's consolidated revenue was € 2.615.517, compared to € 198.429 in the first half of 2015. The Group's backlog of orders is equal to € 6.0 million, and its project pipeline conversion rate increased to 10%.
[1] Backlog means (i) invoices already issued in 2016, but not yet recorded as revenues; (ii) purchase orders already received as at the date of this press release and (iii) revenues already contracted or expected to be generated in 2016 and/or 2017 on the basis of agreements currently in place.
[2] According to the Liquidity Agreement, € 0.1 million in our own shares and liquidity were included, increasing the net financial position to € 2.9 million, the figure announced in our 28 July 2016 press release.
[3] Pipeline Conversion rate means the amount in euro of backlog of orders, divided by the nominal aggregate amount of total projects in pipeline.
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