Business
Results for the six months ended 31 December 2022
Results for the six months ended 31 December 2022.
About this update from Eenergy Group Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n 28 March 2023\n \n \n \n \n \n eEnergy Group plc\n \n \n (\"eEnergy\" or \"the Group\")\n \n \n \n \n \n Results for the six months ended 31 December 2022\n \n \n \n \n \n \n \n \n eEnergy Group plc (AIM: EAAS), the net zero energy services provider, is pleased to announce its interim results for the six months ended 31 December 2022.\n \n \n \n \n \n Financial Highlights\n \n \n \n \n \n \n \n \n \n ·\n \n \n \n \n Revenue up 58% to £15.1 million (HY21: £9.6 million)\n \n \n - Energy Management revenues of £6.6 million (HY21: £4.8 million)\n \n \n - Energy Services revenues of £8.5 million (HY21: £4.8 million)\n \n \n \n \n \n \n \n \n \n \n ·\n \n \n \n \n Adjusted EBITDA (1) up 87% to £1.5 million (HY21: £0.8 million)\n \n \n \n \n \n \n \n \n \n \n ·\n \n \n \n \n Profit before tax of £0.4 million (HY21: loss of £1.0 million)\n \n \n \n \n \n \n \n \n \n ·\n \n \n \n \n Profit before tax and exceptional items of £0.7 million (HY21: £0.2 million)\n \n \n \n \n \n \n \n \n \n ·\n \n \n \n \n Contracted future revenues increased 45% to £26.4 million at 31 December 2022 (31 December 2021 £18.3 million)\n \n \n \n \n \n \n \n \n \n ·\n \n \n \n \n Cash £1.1 million (FY22: £1.4 million) excluding £0.4 million of restricted cash balances (FY22: £0.2 million) reflecting scheduled payments of trade creditors and legacy balance sheet items following drawdown of the new subordinated debt facility\n \n \n \n \n \n \n \n \n \n ·\n \n \n \n \n As at 24 March 2023, the Group's cash balance was £1.1 million (excluding restricted cash balances of £0.5 million). This included a payment of £0.5 million received in advance which may, in certain circumstances, be returnable in May 2023\n \n \n \n \n \n \n \n \n \n Operational Highlights\n \n \n \n \n \n \n \n \n \n ·\n \n \n \n \n Key contract renewals and wins comprising healthcare and education trusts as well as two significant framework agreements \n \n \n \n \n \n \n \n \n \n ·\n \n \n \n \n Launch of eSolar in September 2022 with 12.3 MW under HOT's as at 31 December 2022\n \n \n \n \n \n \n \n \n \n ·\n \n \n \n \n Cross selling proposition continues to improve, with 35% of Energy Service's TCV signed ...