PARIS and MILAN, October 31, 2017 /PRNewswire/ --
- Revenues over the first nine months increased by 64% to €6.6mln
- €16.3mln and 39.4MW of Order Intake increased the Orders Backlog by 122% to €12.9mln
- Gross margin at 37% of reported revenues; €8.9mln cash on hand heading into Q4
- Utility-scale storage systems and microgrids under commissioning in Europe, Latam and the Asia Pacific
- Sustained contract flow from the largest European utilities, mostly on a turnkey EPC basis
- New industrial footprint now sealed in compliance with ISO 9001, ISO 14001 and OHSAS 18001
Commenting on the figures, Carlalberto Guglielminotti, Chief Executive Officer of EPS, said:
"In the third quarter, we reaped the result of our effort over the past three years to affirm EPS as a leading player in decentralized energy solutions with a unique technology play to accelerate the energy transition. Orders from the largest European utilities have proven our technology leadership, competitiveness and strategic and industrial maturity.
"We are delivering one of the largest installed bases of commercial microgrids and utility-scale systems globally, maintaining a high marginality level and strengthening our industrial footprint. This confirms the solidity of the Strategic Plan 2020 and enables the continuous deployment of our disruptive technology towards the highest levels of engineering excellence and operational efficiency."
STRATEGIC AND FINANCIAL HIGHLIGHTS
Over the first nine months of the year we were awarded contracts and projects from Enel, Engie, Endesa, Terna, and Edison (EDF), among others, for projects to be delivered mostly on a turnkey Engineering, Procurement and Construction basis. This sealed the international credibility of EPS Group as general contractor in the delivery of cutting-edge microgrids and energy storage solutions to leading utilities globally.
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1. Order Intake consists of the aggregate contract value in terms of MW or euros with reference to all purchase orders received, contracts signed and projects awarded year-to-date.
2. Orders Backlog consists of the estimated revenue and other income attributable purchase orders received, contracts signed and projects awarded as of the date of this press release.
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SOURCE Electro Power Systems (EPS)