I think it's actually the Ivory Coast project that's killing the SP. We're getting paid in Euros which have fallen around 20% against the $US since construction started. With the profit margin at 15% it's looking rather ugly, unless Francesco established a hedge to insure against the currency loss. I hope this isn't a factor behind his reason for leaving.
Ann: Fluence Wins First MABR Recurring Revenue Contract, page-12
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