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7 Jul 2025 07:00
The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
7 July 2025
Eneraqua Technologies plc
("Eneraqua", the "Company" or the "Group")
Update on year end audit and trading
Eneraqua Technologies plc, a specialist provider of specialist energy and water efficiency solutions, announces that for the year ended 31 January 2025 ("FY25") the Group expects to report revenues of £63m and adjusted profit before tax in line with market expectations. The Company secured a material contract for £7m within its water division which was substantially completed in January 2025 and recognised in FY25 as accrued revenue in accordance with the Group's accounting policies. This contract concerned the installation of its proprietary Control Flow HL2024 technologies into homes to generate nutrient credits with payment from the counter-party linked to new home construction in the area. These payments are expected to start shortly as a well-known housebuilder begins development in the area.
During FY26, the Company has experienced significant delays in the receipt of payments due from some clients and the deferral of certain energy projects which has placed significant strain on the Company's balance sheet and supply chain. The Company is accordingly managing working capital closely and actively engaging its finance provider through its invoice discount facility, who have been supportive of the Company. The Company has also engaged advisers to assist in exploring opportunities for additional interim funding should it be required. The Company is in the closing stages of finalising the disposal of a non-core subsidiary with net initial proceeds of c£1m to be applied for general working capital purposes by the Group.
The Company is working to address these matters and finalise its audit ahead of 31 July 2025.
For further information please contact:
Eneraqua Technologies plc Guy Stenhouse, Chair Mitesh Dhanak, Chief Executive Officer John Samuel, Chief Financial Officer |
Via Alma
|
Panmure Liberum Limited (Nomad and Joint Broker) Edward Mansfield John More |
Tel: 0203 100 2000 |
Singer Capital Markets (Joint Broker) Asha Chotai |
Tel: 020 7496 3000 |
Alma Strategic Communication (Financial PR) Justine James Andy Bryant Will Ellis Hancock |
Tel: 020 3405 0205 eneraqua@almastrategic.com |
Notes to editors
Eneraqua Technologies (AIM:ETP) is a specialist in energy and water efficiency. The Group operates in two markets, energy and water. In Energy, the Group is focused on clients with end of life gas, oil or electric heating and hot water systems. The Group provides turnkey retrofit district or communal heating systems based either on high-efficiency gas or ground/air source heat pump solutions that support Net Zero and decarbonisation goals.
Water is a growing service offering focused on water efficiency upgrades for utilities and commercial clients including hotels and care homes.
The Group's activities are underpinned by its wholly-owned intellectual property, the Control Flow HL2024 family of products, which reduce water wastage and improve the performance of heating and hot water systems.
The Group's main country of operation is the United Kingdom. The Group's head office is based in London with additional offices in Leeds, Sunderland, India, Spain and the Netherlands. The Group has over 200 employees, with the majority employed within the UK.
To find out more, please visit: www.eneraquatechnologies.com
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