Utilitywise Final Results

Utilitywise Final Results

Utilitywise is pleased to announce its audited full year results for the year ended 31 July 2015.

Utilitywise plc (AIM: UTW), a leading independent utility cost management consultancy, is pleased to announce its audited full year results for the year ended 31 July 2015.

Financial Highlights

2015 2014
£000s £000s % change
Revenue 69,106 48,947 +41%
Gross profit 30,296 22,361 +35%
EBITDA* 17,785 14,467 +23%
Profit before tax** 16,662 13,363 +25%
Diluted EPS# 17.9p 14.0p +28%
Total divident for the year 5.0p 4.0p +25%

* Excluding share based payment expenses of £0.6m (2014: £0.7m), exceptional items relating to acquisition costs of £0.6m (2014: £0.1m), restructuring and re-organisation costs of £0.2m (2014: £1.9m) and exceptional credit of £0.2m (2014: £2m) relating to the release of a brought-forward provision (2014 relating to release of contingent consideration).

** As above, but excluding amortisation relating to acquired intangibles of £1.2m (2014: £0.9m)

# As above, but including the tax impact of the above adjustments.

Highlights:

  • Strong revenue and profit growth
  • Continued investment in our multi-channel routes to the customer
  • Management strengthened with appointment of new COO, Brin Sheridan
  • t-mac Technologies acquisition completed in April, integrated and performing well
  • UK customers now exceed 27,000
  • Review of accounting procedures to enable more accurate consumption variance tracking

Geoff Thompson, Chief Executive of Utilitywise, commented:

“The past year has been one of continued progress. We have maintained our growth aspirations and we are well advanced in the roll out of our multi-channel approach to the entire addressable market. We have complemented our capabilities in the year with the acquisition of t-mac Technologies and now can take a customer through the entire journey of procuring their energy, ensuring compliance, monitoring and reporting usage, and controlling and reducing their energy consumption.

“Our management team has been further strengthened and I am delighted to welcome Brin Sheridan to the Group. Brin will assist us along with the rest of the Executive team to deliver this exciting opportunity we have to increase our market share.

“We have slowed and refocused our recruitment in recent months to ensure that we have the highest quality of staff capable of delivering our Trusted Advisor strategy effectively and increasing our new customer conversion rates. Since period end the Group’s UK customer base has increased further to 27,265 as at 30 September, with a corresponding increase in secured but not yet recognised revenue to £28.3 million as at 30 September compared to £26.2 million at period end.

“Our outlook for the coming years remains extremely positive and we look forward to welcoming thousands of new customers to the services and products we can deploy to help them  optimise their energy usage and to save money.”

For further information:

Utilitywise plc
0330 303 0233
Geoff Thompson (CEO)
Jon Kempster (CFO)

finnCap (NOMAD and broker)
020 7220 0500
Matt Goode/ Grant Bergman (Corporate Finance)
Simon Johnson (Corporate Broking)

Liberum (Joint broker)
020 3100 2000
Robert Morton/ Steve Pearce

Redleaf Communications
020 7382 4730
Emma Kane/ Richard Gotla

Utilitywise

Posted by on Tuesday, the 27. October at 8.45

Utilitywise has been helping businesses manage their business utilities since 2006. With over 40,000 customers across Europe, we help businesses save time, save effort and save money by reducing their energy and water consumption.