Courbevoie, the 3rd of February 2017
STRONG growth of 2016 TURNOVER
A NEW CONTRACT SIGNED IN FRANCE
- 2016 turnover at €4,06 million multiplied by 9,6 compared to 2015
- 2016 activity oriented towards the export market representing 62% of the turnover
- New contract for the supply of an ORC in France
- Delivery of current project on time and on budget
ENERTIME (FR0011915339 – ALENE), French Company in the « Cleantech » sector offering equipment for industrial energy efficiency and production of distributed renewable energy (biomass and geothermal energy) announced its 2016 turnover.
Gilles David, CEO of ENERTIME declared: "2016 was a year of transformation for the company as we have moved from the start-up status, to become a growing industrial SME. Our IPO on Alternext of Euronext Paris, allowed us to open our capital to new institutional and individual investors while offering us additional financial means. We grow our operations by building three turbomachineries and associated equipment in 2016 for over 6 MW of total power”
2016 Turnover has been multiplied by 9.6 compared to the same period of 2015 to reach €4.06 million with 62% from the export market. The growth in turnover is generated by two contracts in China for steel mills – an ORC of 3.2 MW for Baosteel in Shanghai and a turbine of 1MW for Baotou Steel in Baotou as well as by a contract for an ORC of 2 MW for the waste to energy plant of the city of Caen.
|Consolidated data rounded in €k-non-audited||2015||2016|
ACCELERATION OF THE COMMERCIAL DEPLOYMENT
The order backlog as of January 31, 2017, amounts to €10.5 million including €4.1 million already invoiced in 2015 and 2016, and the balance to be invoiced mainly during the year 2017. This order backlog corresponds mainly to 4 projects:
- An ORC of 2 MWe for a Waste to Energy Plant in France (for Suez Environnement) with a commissioning scheduled in April 2017.
- An ORC of 1.6 MWe in a biomass cogeneration application for the district heating network of the city of Kamyanets-Podilskyi in Western Ukraine, a contract financed by the World Bank (IBRD). The commissioning of the ORC is scheduled in July 2017.
- An ORC of 1.2 MW for the SYCTOM Company and the Waste to Energy Plant of the city of Saint-Ouen with a commissioning of the ORC scheduled in January 2019.
- An ORC of 800 kW for a confidential project in France, with commissioning scheduled in November 2017.
Other contracts are currently being discussed for France and abroad, with ORC project potentially financed through third-party financing, including through a reallocation of the ORCASIL Project funding. This funding has been selected by the French ADEME under the PIA program (Programme des Investissements d'Avenir) for €3.5 million.
In accordance with its development plan, the commercial activity of the company has been particularly strong in 2016 in France on biomass application as part of the fifth government tender for biomass cogeneration project launched in February 2016 by the “Commission de Regulation de l 'Energie” or CRE (French Energy Regulation Authority). This tender for which an official decision is expected in February 2017, will generate a large number of biomass projects using ORC in co-generation application in France, for equipment contracts to be signed in 2017 or 2018.
The company has not renewed the presence of one of its engineers in Canada, because of limited visibility on the North American market, excluding Mexico.
FINANCIAL COMMUNICATION AGENDA
2016 full-year financial results will be released on 28th of April 2017
 the significant decline in the price of electricity on the open market in France in the first half of 2016 has affected the ability of operators to sign contracts for the supply of electricity at reasonable prices and thus has affected the economic viability of the energy efficiency project initiated with the Ferropem company. Because the funds raised in July 2016 during the IPO did not reach the targeted 5 M€, the company took the decision to mobilize funding for the PIA on a similar but more profitable project with the agreement of the PIA and ADEME. The price of electricity on the open market have, moreover, strongly increased recently after mid-2016.
Established in 2008, the company designs, develops and implements the machines Organic Rankine Cycle machines (ORC) for industrial energy efficiency and distributed renewable energy generation. The ORC technology allows to transform heat into electricity. The company is one of the three major global players and the only French Company fully mastering the technology of high power machines (1 MW and more). Based in Paris Region, the company has 42 employees including 26 engineers and has offices in Lyon and Strasbourg as well as agents or representatives in 7 countries including India and China.
The company is recognized as "innovative company" by Bpifrance and “Creative Industry” by the French Ministry of Industry. The company is listed on the Alternext of Euronext Paris market. ISIN: FR0011915339-Mnemo: ALENE further information on www.enertime-bourse.com
Gilles DAVID – CEO
Tel. +33 (0)1 75 43 15 40
Lucie Gaudin – Communication
Tel. +33 (0)1 80 88 59 80 / +33 (0)6 89 83 12 63
News releases under ongoing reporting obligations:
– Information on annual revenues
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