eEnergy (EAAS)EAAS, a Net Zero energy services provider, has released a promising trading update, with great progress already made in H1, with revenue growth up 58% to £15.1 million, compared to £9.6 million in the previous year.
The company announced strong trading across its business segments in the final half of 2022, not least its Energy Services business which delivered revenues of £8.5 million for the six months ended 31 December 2022, a 79% increase compared to the same period in the previous year. While the revenue increase reflected momentum in the sales pipeline, it is also notable that was achieved despite some higher margin solar revenues being delayed into H2. As well as this, Energy Management revenues soared in H2, displaying a 35% increase compared to H1 in 2022.
eEnergy is forecasted to continue along its strong trajectory for the remainder of the financial year, with contracted forward revenues of £26.4 million over 4 years, as at 31 December 2022 (up 45% from the previous year), and a growing pipeline of opportunities.
eEnergy is scheduled to report its interim results in the week commencing 27 March 2023.
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eEnergy has demonstrated that its services remain central to many UK businesses, offering them an array of advantages alongside reducing their carbon emissions, such as delivering huge cost reductions, mitigating energy cost uncertainty, and gaining a competitive edge over other businesses.
The company continues to serve big UK corporations, such as The Gym Group, Homebase and Shoe Zone, as well as the NHS, which will carry on greatly benefiting from eliminating energy waste and reducing carbon emissions in 2023.
But it seems likely that, with energy prices still volatile, many other UK businesses may seek out Net Zero energy services providers in the year ahead, as pressures persist for companies to look for new solutions for lowering their cost base and bolstering their environmental credentials to attract sustainably-conscious customers.