News Column

EuroSite Power Inc. Reports Second Quarter 2014 Financial Performance

August 18, 2014



ENP Newswire - 18 August 2014

Release date- 15082014 - WALTHAM. Mass - EuroSite Power Inc. (OTCBB: EUSP), a leading On-Site Utility, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and fitness facilities, reported total revenues of $416,559 in the second quarter of 2014, compared to $190,754 for the same period in 2013, an increase of 118%.

GAAP diluted loss per share (EPS) was $0.01 in the second quarter of 2014, compared with a loss per share of $0.01 for the same period in 2013.

Major Highlights:

Financial

Total revenue increased by 118% to $416,559 in the second quarter of 2014, compared to $190,754 for the same period in 2013.

Total gross profit margin excluding depreciation was 22.2% in the second quarter of 2014, versus 7.5% for the same period in 2013.

We finished the second quarter of 2014 with approximately $1.9 million in cash.

The total revenue value of our On-Site Utility energy agreements since inception is approximately $84 million using various market assumptions and estimates made by the Company.

Operations

We currently operate 19 systems with a total contract value of $53 million.

Our current backlog is 11 systems for a total contract value of $32 million.

We reached agreement for seven hotels owned by Topland Group where we signed a contract worth GBP13.2 (US $22.09) million to install and own combined heat and power (CHP) systems

Total energy production was 4.9 million kWh in the second quarter of 2014.

We began operations at the following properties:

100 kW combined heat and power (CHP) system

200 kW combined heat and power (CHP) system

About EuroSite Power

EuroSite Power Limited is a subsidiary of American DG Energy Inc. (NYSE MKT: ADG). Both companies supply low-cost energy to their customers through distributed power generating systems. The Company is committed to providing institutional, commercial and small industrial facilities with clean, reliable power, cooling, heat and hot water at lower costs than charged by conventional energy suppliers - without any capital or start-up costs to the energy user - through its On-Site Utility energy solutions. More information can be found at www.eurositepower.co.uk.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Important factors could cause actual results to differ materially from those indicated by such forward-looking statements, as disclosed on the Company's website and in Securities and Exchange Commission filings. This press release does not constitute an offer to buy or sell securities by the Company, its subsidiaries or any associated party and is meant purely for informational purposes.

The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

Investor Contact:

John N. Hatsopoulos

EuroSite Power Inc.

Tel: +1 781.622.1120

Media Contact:

Paul Hamblyn

EuroSite Power Inc.

Tel: +44 7920.859540


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Source: ENP Newswire


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