Inspired Energy : Trading Update and Notice of Results – Jan 2018
January 29, 2018 at 10:14 am
Share
Inspired Energy (AIM: INSE), a leading UK energy procurement consultant to UK and Irish corporates and SMEs, is pleased to provide a trading update for the financial year ended 31 December 2017.
Financial Performance
Inspired Energy continues to deliver on its growth strategy and expects to report results in line with revised market expectations, which were upgraded twice during 2017:
Group revenues are expected to be c.28 per cent ahead of 2016, with adjusted EBITDA* expected to be c.33 per cent ahead of 2016.
Procurement Corporate Order Book stood at £39.0 million (2016: £28.0 million) representing year on year growth of 39 per cent.
Cash generated from operations is expected to be c.42 per cent ahead of 2016.
Net debt is expected to be approximately £14.7 million at the year end.
Trading on all fronts remained strong throughout the year and this trend has continued into the start of the new financial year.
Acquisition Highlights
Integration of Flexible Energy Management Limited ('FEML') and Churchcom Limited ('Churchcom'), acquired in April 2017, is progressing well and in line with plans.
Acquisition of Horizon Energy Group Limited ('Horizon') completed in July 2017, increasing the geographical presence of the Group and strengthening its position as a market leader in Ireland.
Horizon traded in line with Board expectations in H2 2017, and trading in 2018 has started strongly.
Final settlement, in cash, of the outstanding consideration due to the vendors of STC Energy and Carbon Holdings Limited, Wholesale Power UK and Informed Business Solutions.
Board transition
Gordon Oliver, Group Finance Director of James Halstead plc, today appointed as an independent Non-Executive Director.
Matthew Thornton to step down as Sales Director and become a Non-Executive Director following the release of the Group's preliminary results for the year ending 31 December 2017,which will complete the transition of the Board composition to two Executive Directors, supported by a Non-Executive Chairman and three Non-Executive Directors.
Click here to read the full announcement
Inspired Energy plc published this content on 29 January 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 29 January 2018 10:14:04 UTC.
Original documenthttp://inspiredplc.co.uk/trading-update-notice-results-jan-2018/
Public permalinkhttp://www.publicnow.com/view/429A23AE9818685E6EF430AE5DF9B389F3BC8AB0
Inspired PLC is a United Kingdom-based technology enabled service provider supporting businesses in their drive to reduce energy consumption, deliver net-zero, control energy costs and manage their response to climate change. Its segments include Assurance, Optimisation, Software and ESG. Assurance segment provides services that include the review, analysis and negotiation of gas and electricity contracts on behalf of clients in the United Kingdom and Ireland. Optimisation segment is focused on the optimisation of a client's energy consumption and provides services that include forensic audits, energy efficiency projects and water solutions. Software segment comprises the provision of energy management software to third parties. ESG segment manages the data collection and validation of consumption data to provide the resources for the creation of mandatory ESG disclosures, such as Streamlined Energy and Carbon Reporting and Task Force on Climate related Financial Disclosures reporting.