Business
EEnergy : Investor trading update H1FY2025
EEnergy : Investor trading update
About this update from Eenergy Group Plc
H12025 Interim Results . Harvey Sinclair & John Gahan 1 23/07/2025 Copyright © 2025 eEnergy - all rights reserved. 23 July 2025 Presentation team . Harvey Sinclair Chief Executive Officer Harvey is CEO of eEnergy Group having co-founded eLight in 2014. He is a proven technology entrepreneur, who has successfully implemented high growth strategies and exits across a variety of different sectors; Software, Internet, ecommerce and in the Hospitality sector, in both the public and private markets. John Gahan Chief Financial Officer John joined eEnergy in October 2024, bringing over 30 years of leadership and financial expertise. He is a fellow of the Institute of Chartered Accountants of England and Wales and has held CFO positions in private equity-backed, AIM listed and FTSE 100 businesses. John spent ten years with KPMG performing financial due diligence on public and private companies for sale. 2 23/07/2025 Copyright © 2025 eEnergy - all rights reserved. H12025 - Key highlights . Fifth year of consecutive revenue growth. Revenue up 67% to £10.1m Adjusted EBITDA improved by £2.5m to £0.5m profit Cash generative in H12025 Crucial inflection point Strongest sales pipeline we have ever built Redaptive partnership is flourishing. £100m funding facility secured with £7.6m deployed in H1 eEnergy named as a dedicated UK delivery partner for Redaptive UK-based partners SolarLife provides recurring revenues. New solar O&M service live with 78 systems under contract worth £900,000 - unlocking recurring revenue Channel strategy delivering growth in revenue in healthcare and universities outside of Education. Now on five active frameworks Early wins include contracts with NHS Trusts and MATs across education and healthcare. We are market leader in Education Pipeline. Significant & record growth in H1 of £83.2m Investment grade pipeline in development £38m Record HoTs signed for Solar H2 £15m 3 23/07/2025 Copyright © 2025 eEnergy - all rights reserved. Stringent financial controls are driving material improvements . H12025 results show solid progress in the headline numbers. Revenue £10.1m +67% (H12024: £6.0m) Adjusted EBITDA £0.5m (H12024: £2.0m loss) Positive net cash flow with £0.8m increase in cash Adjusted EBITDA and cash flow now tracking one another. Our principal KPI remains cash generation Cash as at 30 June 2025: £3.1m (31 December 2024: £2.3m) Interim Results for H12025 were produced in three weeks. Upgraded our financial reporting Implemented stringent financial controls Seeing improvement in all our key financial metrics Working more closely across the business Expect to be cash positive in H22025. And for the year as a whole 4 23/07/2025 Copyright © 2025 eEnergy - all rights reserved. Financial metrics demonstrate solid progress Gross margin improved to 41.6%. FY2025: 34.6% H12024: 19.2% Adjusted EBITDA pre-central costs increased to £1.4m. Equivalent to 14.4% of revenue Improved operational gearing: Total LED and Solar operating costs % of revenue reduced by 10% to 27% Made further reductions in the cost base with the benefit to flow through in Q3 / Q4 this year Cost base can support a significant increase in revenue Central / plc costs held at £0.9m. H12024: £0.9m Only one adjusting / exceptional item in H1. H12025: £0.4m share-based payments charge H12024: exceptional charge £2.3m included restructuring costs of £2.0m and share-based payments charge of £0.3m Cash generation remains our principal focus. Redaptive funded deals are helping to improve our cash flow Identified further significant opportunities to reduce working capital through better planning and improving vendor supply terms 5 23/07/2025 Copyright © 2025 eEnergy - all rights reserved. Market leader in Education, and expanding into Healthcare Market opportunity. Education market (£2bn). 32,000 UK schools. 65% of schools still untapped, creating a major growth opportunity. Expansion into Higher Education now accessing £1m+ projects. Healthcare market (£2bn+). 202 NHS Trusts 10 Ambulance Trusts 218 Private hospitals (1,148 hospitals in the UK) 50% of the NHS estate still requires upgrades, driving demand. Notable contracts: £0.6m Halesowen College £0.5m University Hospital Plymouth NHS Trust £0.4m St Mary's High School £0.3m Synergy MAT £0.3m Landau Forte Trust £0.3m Mossbourne Community Academy Strong long-term growth drivers. Government-backed growth. Capital free solutions. Appetite for LED | Solar | EV. Surging solar demand. High barriers to entry. 6 23/07/2025 Copyright © 2025 eEnergy - all rights reserved. Our routes to market . Routes to market. Direct consultative sales team. Expanding into further education and Universities. Replicating education model into Simplified Public Sector Procurement Process. Requirement Definition. How it works. healthcare/NHS through frameworks. Strategic bids and frameworks. Dedicated bid team with broad technical expertise. Approved on five public sector frameworks for education and NHS opportunities. Tendering or Sourcing via Frameworks. Evaluation and Selection. Contract Award. Public Sector body publishes tender via online platform. Pre-Approved Framework suppliers submit their tender replies. Tenders are scored against a predefined weighting. EG. Price, Performance, Capability, ESG credentials. Strategic Partnerships. Partnership model for commercial & industrial sector drives multi-site revenue opportunities. Targeting £1m+ opportunities. Frameworks explained. A framework is a formal agreement between one or more public sector buyers and one or more suppliers. It involves a group of pre-approved suppliers who have been assessed and chosen to deliver a specified range of products or services. This arrangement allows suppliers to compete for certain contracts without the need for a full procurement process every time. 7 23/07/2025 Copyright © 2025 eEnergy - all rights reserved. Our focused business model . Core service Growth pillar Value add services Reduce. Generate. Charge. Finance. Energy Reduction Services: development and delivery of turn-key solutions. Product basket: LED lighting Lighting controls Data energy analytics Focus: Quality of product and service Energy Generation Services: development and delivery of turn-key Solar PV solution. Product Basket: Roof mount PV Ground mount PV Carport PV Focus: Risk-managed quality solution EV Charging Services: development and delivery of turn-key EV charging. Product Basket: 22kw fast chargers Management portal 24hr client support hotline Focus: Quality of product and service Competitive, simple, flexible and compliant financing: achieving energy savings without financial and logistic barriers. Focus: Compliancy and simplicity Typical gross margin Circa 45% Typical gross margin Circa 30% Typical gross margin Circa 20% £100m Redaptive £40m NatWest Data. Connected IoT enables scalable design, optimisation and reporting - driving sustainability and operational efficiency. Digital Energy Services 8 23/07/2025 Copyright © 2025 eEnergy - all rights reserved. Investment in technology creating scale . Launch of eEnergy LED survey and modelling App (version 2.0). 100% uplift in surveying capacity. Real-time design validation. Instant investment-grade proposals. Direct supply chain integration. Built-in commercial optimisation. Since beta launch (March): 151 surveys completed, 60,400 luminaires modelled. No issues reported. Now in full release. LED project example: Pioneer Learning Trust. Presented to client: 3rd July 13 schools 3,810 light fittings £293,288 10-year net savings 60.5% reduction in energy use Funded via Redaptive, £0.47m Survey requested: 11 th June 13 schools surveyed Won: 11th July Project installation: July/August net revenue. Survey to Contract close in less than 30days... 9 23/07/2025 Copyright © 2025 eEnergy - all rights reserved. Progress in last six months demonstrates our strategy is working . Grown revenue. Won bigger contracts. Secured institutionalised funder. Launched an O&M service. £10.1m revenue, strong momentum and positive cash generation in H12025. H1 revenue increase of £4.1m, mainly driven by higher LED revenues. Active sales pipeline exceeding £250m. With 16 solar Heads of Terms signed and nearing conversion. Margin improvement and disciplined execution position eEnergy for scalable growth. Trusted by major institutions. New sales wins include: £0.5m Plymouth NHS Trust £0.3m Synergy MAT £0.3m Landau Forte Trust £100m partnership with Redaptive established eEnergy as a key UK delivery partner. £7.6m deployed in H1, accelerating project delivery and de-risking cash flows. Generating recurring revenues. Launch of solar asset management service SolarLife has expanded our service offering. At launch, the first series of service agreements were won, including 78 solar systems with a total contract value of £1.1m. 10 23/07/2025 Copyright © 2025 eEnergy - all rights reserved. Progress in last six months demonstrates our strategy is working . Framework-led growth. Appointed to 5 frameworks. Proven scale of EBITDA. Pipeline origination and development. Government-backed frameworks and our funding partnerships are accelerating adoption across education, healthcare, and commercial sectors. Boosting ESG credentials are scoring us higher marks in tender submissions. Notable contracts using frameworks £0.5m Plymouth NHS Trust £0.3m Synergy MAT £0.3m Landau Forte Trust Adjusted EBITDA increased by £2.5m. Set to deliver shareholder value in H22025+. Generated YTD £83.2m pipeline. £38m at investment grade proposal. £15.0m Solar at Heads of Terms. 11 23/07/2025 Copyright © 2025 eEnergy - all rights reserved. Pipeline origination and development . £2.5m Pipeline growth is at an all time high. LED: H2FY25 target £10m Total pipeline YTD pipeline value: £83.2m. YTD at investment grade proposal: £38.4m. 31% of our Total Pipeline (£138m) is at investment grade proposal. £9m 30% of FY2024 contracts from existing customers. Contracted Weighted forecast (in period to Dec) £18m Total £29.5m Solar: H2FY25 target £8m Record solar H2 order book of £15m at signed heads or near contract. Average contract size significantly increasing in value. Now targeting £0.5m+ solar projects. Contracted Weighted forecast Total pipeline £54m £12.4m £1.7m (in period to Dec) Total £66.4m £15m Signed Heads of Terms 12 23/07/2025 Copyright © 2025 eEnergy - all rights reserved. Revenue, EBITDA and cash flow now at an inflection point . Stable management team to deliver results. £0.8m cash flow positive in H12025. H22025 focus. Detailed review and consolidation of the balance sheet. Focus areas: Cash generation - now more closely tracking profit generation. Improved gross margins and net working capital. Stronger controls and accountability now in place. Improved reporting. Proactive and close management of net working capital. Improved accuracy of project quotations and cost control. Closing cash increased to £3.1m. Operational improvements are delivering improvements in cash flow and EBITDA. Work closely with Sales and Operational to maximise profitability on new business. 13 23/07/2025 Copyright © 2025 eEnergy - all rights reserved. Current trading outlook and summary . Clean and stable balance sheet , with tight financial controls and focus on margin and cash. Strongest pipeline in history , with coverage around forecast and clarity of our conversion rates. The Board is confident that the business will deliver continued improvement in Revenue, EBITDA, and cash flow in H22025. Solar growth accelerating: Record H2 order book of £15m at signed heads or near contract. Trading remains on track for FY2025. Market leadership: Extending reach into colleges and universities; firmly established as the #1 Net Zero partner in the UK education sector. Unique funding advantage: £140m in funding lines secured (£100m Redaptive, £40m NatWest) enables zero upfront cost solutions for cash-constrained customers. 14 23/07/2025 Copyright © 2025 eEnergy - all rights reserved. Our customers save money by: Using less . Using greener . Using smarter . Q&A. 15 23/07/2025 Copyright © 2025 eEnergy - all rights reserved. Disclaimer . Some statements contained in this presentation or in documents referred to in it are or may be forward-looking statements. Actual results may differ from those expressed in such statements, depending on a variety of factors. Past performance of eEnergy Group plc or its shares is not a guide to future performance. Any forward-looking information contained in this presentation has been prepared on the basis of a number of assumptions which may prove to be incorrect, and accordingly, actual results may vary. This presentation does not constitute, or form part of or contain any invitation or offer to any person to underwrite, subscribe for, otherwise acquire, or dispose of any shares in eEnergy Group plc or advise to persons to do so in any jurisdiction, nor shall it, or any part of it, form the basis of or be relied on in any connection with or act as an inducement to enter into any contract or commitment therefore. No reliance may be placed for any purpose whatsoever on the information or opinions contained in this presentation or on its completeness and no liability whatsoever is accepted for any loss howsoever arising from any use of this presentation or its contents otherwise in connection therewith. This presentation has been prepared in compliance with English law and English courts will have exclusive jurisdiction over any disputes arising from or connected with this presentation. 16 23/07/2025 Copyright © 2025 eEnergy - all rights reserved. 17 23/07/2025 Copyright © 2025 eEnergy - all rights reserved.