Interim results to 31 January 2016

Interim results to 31 January 2016

Utilitywise today announced interim results to 31 January 2016.

Press Release

Interim Results for the six months ended 31 January 2016

Utilitywise, a leading independent utility cost management consultancy, is pleased to announce its financial results for the six months ended 31 January 2016.

Financial Highlights
• Revenue increased 36% to £41.6m (H1 20151: £30.6m)
• Adjusted EBITDA2 increased 15% to £9.7m (H1 20151: £8.4m)
• Adjusted Pre-tax profit3 increase of 17% to £9.1m (H1 20151: £7.8m)
• Adjusted fully diluted EPS4 increased 21% to 9.8p (H1 20151: 8.1p)
• Proposed interim dividend increased 29% to 2.2p (H1 2015: 1.7p)
• Net (debt) / cash of (£10.2m) (H1 2015: £1.6m)

Operational Highlights
• Enterprise revenue added to order book5 during the period increased by 50% to £40.0m (H1 2015: £26.6m)
• Future secured revenue increased 5% to £24.7m (H1 2015: £23.5m)
• Total customers increased by 33% to 29,288 (H1 2015: 22,048)
• Utility Management Plan and multi-channel offering are progressing well
• Customer advocacy remains high with strong positive Net Promoter Score
• Energy consultants increased 39% to 625 (H1 2015: 449)
• Strengthened management team

Post period
• Energy consultants increased to 630
• Future secured revenue as at 31 March 2016 at £26.6m
• Partnership agreement signed with Dell to advance Energy services offering

Geoff Thompson, Chief Executive of Utilitywise, commented:

“The Group has continued to drive growth across all of its KPIs including strong growth in revenue and EBITDA. Enterprise, inclusive of Europe, and the Corporate division have performed well in the first half and I am very pleased to see the positive momentum maintained.

We have continued to strengthen the Group operationally with the continued roll out of our Utility Management Plan and further progress with the Group’s multi-channel offering – both of which contribute to the Group’s continued organic growth. Supporting this progress, we have bolstered our senior management team with the arrival of Brin Sheridan as Chief Operating Officer and Adrienne McFarland as People Operations Director.

The combination of our market-leading procurement business alongside our energy services offering is a compelling proposition. The market opportunity to assist customers to procure gas, power and water efficiency to comply with regulation and importantly enable them to manage their energy usage is significant and we look forward to building on our unrivalled position in the market to drive further growth.”

1 As restated
2 Adjusted for share based payments of £286k (H1 2015: £366K) and exceptional items credit of £4,055k (H1 2015: £194k credit)
3 Adjusted for share based payments of £286k (H1 2015: £366K), amortisation of IFRS3 intangibles of £975k (H1 2015: £531K) and exceptional items credit of £4,055k (H1 2015: £194k credit)
4 Adjusted for share based payments of £286k (H1 2015: £366k), amortisation of IFRS3 intangibles of £975k (H1 2015: £531k), the tax impact of those adjustments of £171k credit (H1 2015: £162k credit) and exceptional items credit of £4,055k (H1 2015: £194k credit)
5 Where revenue added to order book is gross additions to future secured revenue

The full announcement can be found here. 

The presentation (PDF) can be seen here.

For further information:

Utilitywise PLC0330 303 0233
Geoff Thompson, CEO
Jon Kempster, CFO
finnCap (NOMAD and joint 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 PR020 7382 4730
Rebecca Sanders-Hewett / David Ison/Susie Hudson
Utilitywise

Posted by on Tuesday, the 19. April at 7.07

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.