Eenergy Group PLC
LSE:EAAS
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Eenergy Group PLC
eEnergy Group Plc engages in the provision of onsite solar generation. The firm provides the client with an end-to-end energy management solution as-a-service. This includes access to the procurement of zero carbon energy through its eAuction platform in addition to providing access to their granular energy and emissions data and consumption analytics via the MY ZeERO smart metering platform, which helps to identify energy wastage. The company also offers onsite solar generation electric vehicle charging solutions, which promotes clients’ energy independence and resilience.
eEnergy Group Plc engages in the provision of onsite solar generation. The firm provides the client with an end-to-end energy management solution as-a-service. This includes access to the procurement of zero carbon energy through its eAuction platform in addition to providing access to their granular energy and emissions data and consumption analytics via the MY ZeERO smart metering platform, which helps to identify energy wastage. The company also offers onsite solar generation electric vehicle charging solutions, which promotes clients’ energy independence and resilience.
Revenue Growth: eEnergy reported revenue of GBP 33.2 million, up 50% from the prior year.
Profitability Achieved: The company moved from a GBP 2.2 million loss to a GBP 1.1 million profit before tax.
Strong EBITDA: Adjusted EBITDA increased by 55% to GBP 4.7 million.
High Revenue Visibility: Management stated 90% of full-year revenue is already visible and locked in.
Solar Momentum: Solar project pipeline is maturing, with 29 megawatts under contract; solar expected to drive future growth.
Focus on Cash Generation: Cash conversion improved and is a key management focus, with a target of 75% operating cash conversion in FY '24.
Balance Sheet Prioritized: Strengthening the balance sheet is the top priority before considering dividends or further expansion.
Operational Improvements: Margins were maintained despite inflation, and the business is now focused on consistent cash generation.
