Electro Power Systems 2016 Annual Results: Continued Growth Momentum

PARIS and MILAN, March 24, 2017 /PRNewswire/ --

- Revenues: € 7.1 million, +18x year-on-year

- Backlog of orders: € 6.5 million as of today, thanks to € 12.1 million order intake of the last 12 months

- Gross margin: € 3.2 million, equal to 46% of revenues

- Internationalization: approx. 53% of revenues from installations outside Europe

- Installations: 16.4 MVA[1] in 2016 only, approx. 2x the aggregate installation history of the Group

- Emissions reduction: 2,693 tons CO2 annual saving achieved

- Energy transition: 165,000 people powered by renewables and the EPS technology

Electro Power Systems S.A. ("EPS"), technology pioneer in energy storage systems and microgrids listed on the French-regulated market Euronext Paris (EPS:FP), today announces its 2016 full-year financial results. The accounts have been examined and approved by the Board of Directors on 22 March 2017 and audited by the Statutory Auditors. The full 2016 Consolidated Financial Statements will be available on the EPS's website http://www.electropowersystems.com and the full set of consolidated figures is attached to this press release.

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Carlalberto Guglielminotti, Chief Executive Officer of the EPS Group, commented, "EPS has delivered outstanding results for 2016, driven by record revenues coupled with strong gross margin generation. In a year full of investments in R&D, engineering and industrialization, a new Group organization, and a limited commercial infrastructure, the Group has demonstrated in field not only its technological excellence, but also the ability to deliver and act as a reliable partner for the largest energy players worldwide."

"Whilst the market remains a blue ocean particularly in emerging countries, bidding activity has increased in recent months. We have right-sized our business strategy, have a good pipeline of opportunities across our core markets and remain cost competitive, as evidenced by recent bidding success." 

2016 KEY FINANCIAL HIGHLIGHTS 

Revenues were € 7.1 million, up +18x year-on-year, confirming good market momentum and the continued revenue trend improvement. Revenues grew particularly in the fourth quarter (€ 3.1 million), outlining a seasonal trend which see the order intake increasing in the first part of the year, and the majority of the revenues generation at the end of the year.

This growth was mainly led by the installations in Africa, Asia Pacific and Latin America (approx. 51% of revenues and other income), answering the strong demand of large utilities and grid operators in the context of their energy transition.

You can find the full version of this press release on our websitehttp://www.electropowersystems.com/wp-content/uploads/2017/03/PR-FULLYEAR_2016_ENG-2.pdf

[1] Systems installed from 1.1.2016 to 31.12.2016 and under commissioning as of 31.12.2016