Energy One has issued its annual report for the financial year ending June 30, 2021. It was a good year for the group growing revenue by 35% and EBITDA by 53% while reducing borrowings to zero. More than half of its revenue now originate in Europe via its Contigo and eZ-nergy assets and more than 80% of its revenues are now recurring. Given that the year was disrupted by lockdowns, COVID and other events, these are extraordinarily strong results for the company. The detail is also interesting. Energy One’s Australian business saw its revenues grow 13% and profitability even more (18%). It is also now fully prepared for the shift to a 5-minute settlement market that will happen in Australia in October this year, it says, having gained three customers already as a direct result of the market change. In Europe, Contigo grew revenue by 17% and increased profitability to 25% as measured by EBITDA. However, the interesting part of the story told by Energy One’s financial report is that of eZ-nergy. It generated revenues of $3.4mUSD ($4.7m AUS) and an EBITDA of 36%. The two entities also signed their first new joint European customer during the period. As of… continue reading
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