Energy One has issued its financial results for the year ending June 2023 and the results suggest that the company continues to grow and consolidate its acquisitions with a 39% increase in revenues to almost $45mAUS (up from $32.4mAUS). It produced almost $12mAUS EBITDA on those revenues and shows that recurring revenues were around $39mAUS. Throughout the year, European CEO, Simon wheeler, had told us how a backlog of project work was keeping it busy in Europe and allowing it to hire strongly and the report shows that project revenues indeed grew strongly by 109% according to the annual disclosure. As a public company, Energy One has to operate by ASX rules and also report in a manner consistent with establishing shareholder value. What is obvious in the numbers is that Energy One has been investing in its future business strongly both in terms of globalization and in terms of hiring and building up services. While this may not be hugely popular with investors as it dilutes current earnings, in the commodities software and services space it is essential if the business wishes to thrive and grow.. Despite that, Energy One still showed good profitability as stated above and continues… continue reading
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