PARIS, March 28, 2018 /PRNewswire/ --
- Revenues up 40% to €9.9mln and 40.5MW Order Intake in 2017, for €16.6mln
- Gross Margin at 40% brings EBITDA close to breakeven at €-1.7mln, even with R&D at 27% of revenues
- 2020 Strategic Plan on track: €25.1mln Project Backlog and €150mln Pipeline thanks to the ENGIE industrial partnership
- Successful deployments in the Maldives, Australia, Tasmania and Italy; construction site for 20MW in Spain launched
- Working Capital 5x higher than 2016 impacting net financial position, but continuous support from Intesa Sanpaolo with new credit lines
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 2017 full-year financial results. The accounts have been examined and approved by the Board of Directors on 28 March 2018 and audited by the Statutory Auditors. The full 2017 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.
2017 KEY FINANCIAL HIGHLIGHTS
Revenues increased by 40% to 9,898k€, for an increase of 2,811k€ compared with 2016. Such result does not take into account 2,631k€ work in progress under the 20MW system in Spain, which would be shifted to 2018. Such growth is mainly due to the successful deployment of microgrids and off-grid solutions in emerging countries in East Africa, Latin America and the Asia-Pacific region, but even more importantly of grid-connected solutions in Europe. These positive developments were due also to the credibility of the Group established through projects with Enel, Terna, Edison, Toshiba, and other major utilities and industrial players.
You can find the full version of this press release on our website
1. Project Backlog means, as of the date of this press release, the estimated revenue and other income attributable to (1) purchase orders received, contracts signed and projects awarded as of the date hereof, and (2) projects secured on a Power Purchase Agreement basis, therefore where the agreed value is a price per kWh of electricity and an amount of MW to be installed.
2. Data as of the date of this press Release, in line with the announcement made with the publication of the 2016 annual results (data published on 23 March 2017)
SOURCE EPS Group