eEnergy Group Regulatory News (EAAS)

27 July 2023

eEnergy Group plc

("eEnergy" or "the Group")

Trading Update

eEnergy (AIM: EAAS), the net zero energy services provider, is pleased to provide an update on trading for the 12 months ended 30 June 2023 (the "Period"). As previously announced on 22 June 2023, the Group has changed its accounting reference date and financial year end from 30 June to 31 December. Accordingly, the Group will be publishing its unaudited interim accounts for the 12 months to 30 June 2023 by 30 September 2023.

Group Trading and Highlights for the Period (unaudited)

The Board is pleased to announce the Group generated revenue of £33.1 million and Adjusted EBITDA of £4.7 million.

Financing costs during the Period were higher due to, inter alia, the new subordinated debt facility issued in November 2022 and the higher interest rate environment.

Business Segments

Energy Services revenues were £19.5 million (FY22: £10.5 million) delivering divisional operating profit of £2.3million (FY22 £1.0 million) with substantial growth supported by continuing strong customer demand for the Group's products and services.

Energy Management revenues were £13.6 million (FY22: £11.6 million) delivering divisional operating profit of £4.4 million (FY22: £3.7 million), achieved by high customer retention levels and strong re-occurring revenues.

Net Debt

Full Year Outlook

The Company's contracted revenue book remains strong and gives good visibility on Q5 / Q6 revenues. Contracted forward revenues ("Forward Order Book") at 30 June 2023 were £27.5 million (31 December 2022: £26.4 million), of which £14.1 million are expected to convert into revenues in the six months to 31 December 2023.

The Board is confident in the trading outlook for the remainder of FY23 and beyond.

eEnergy expects to report its unaudited interim accounts for the 12 months to 30 June 2023 by 30 September 2023.

Harvey Sinclair, CEO of eEnergy, commented: "I am delighted to be reporting another 12 months of strong growth for eEnergy in a period where we have strengthened our profitable position. Revenues and profits have grown significantly as a result of strong uptake of our energy services offering, further supported by strong customer retention and improved cross selling rates across our existing client base."

Note: (1) Adjusted EBITDA including £2.0 million of Group costs and excluding Exceptional Items. Exceptional Items are those items which, in the opinion of the Directors, should be excluded in order to provide a consistent and comparable view of the underlying performance of the Group's ongoing business, including the costs incurred in delivering the 'Buy & Build' strategy associated with acquisitions and strategic investments, costs of restructuring and transforming acquired businesses and share-based payments.

(2) Adjusted PBT excluding Exceptional Items and amortisation of acquired intangible assets.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended.

Contacts:

About eEnergy Group plc

eEnergy (AIM: EAAS) is a net zero energy services provider, empowering organisations to achieve net zero by tackling energy waste and transitioning to clean energy, without the need for upfront investment. It is making net zero possible and profitable for all organisations in four ways:

eEnergy is a Top 5 B2B energy company and has been awarded The Green Economy Mark by London Stock Exchange.