EPS Q1 2017: Continuing Sales Growth and Strong Backing From European Investment Bank

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Q1 Highlights  

In the first quarter 2017, revenues amount to € 1.6 million and represent an increase by 45% compared to the same period in 2016 (€1.1 million). Growth in revenues was particularly driven by the flagship microgrids in Somalia and Chile:

Cash position of the Group amounts to € 2.7 million, and excludes (i) € 3.0 million additionally available short term credit lines, (ii) € 1.4 million of capital increase reserved to the management already planned^[1], and (iii) € 10 million first tranche of the equity-linked financing of the European Investment Bank signed on 13 April 2017 and backed by the European Fund for Strategic Investments, in order to support the company in its growth, continuous research, development and innovation activities and further product commercialization.

You can find the full version of this press release on our website:

http://www.electropowersystems.com/wp-content/uploads/2017/05/PR_Q1_2017-ENG-Final-15-May-2017.pdf 

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1. The capital increase, reserved to the management has been scheduled immediately upon publication of the Registration Document (Document de Référence).