Ann: Fluence Placement to Institutional Investors and SPP, page-11

Looks like a company run for the benefit of the BOD (mainly) and staff. Look to have good products but either contracted price too low or cost of sales too high. Strange as in their investor pack they claim they are much lower cost than alternatives. Should be raking it in but aren't at present. Maybe they can with larger scale (which looks like it is on the horizon for 2020). Might look to pick some up (next year?) but no hurry. CR will force Sp down so think I'll wait for next annual report. BTW - I'm always cautious about companies where financial performance appears towards the end of the annual report. 49 pages of (mainly) irrelevant stuff before it gets a look in for FLC.