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.
(Logo:
http://mma.prnewswire.com/media/468575/Electro_Power_Systems_Group_Logo.jpg
)
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