Last week, EnergyOne announced its half-year results for the period ending 31st December 2020 and they make for some impressive reading. It saw revenues increase by 45% and EBITDA rise by 78% calling the six-month period performance “very strong” and setting expectations for the second half of the year to be ‘slightly reduced’ in comparison. It said that the revenue growth came from a combination of organic growth, and of the acquisition of eZ-nergy in France. “This was a direct result of the ability of our leadership teams to extract synergies from the businesses, the margin contribution from eZ- nergy, and from economies of scale that are emerging as the business continues to grow in both size and sophistication.” While Australian revenues, where EnergyOne has a significant market share (approaching 50%, according to the company), grew almost 18% in the prior 12-months, the acquisitions in recent years of UK-based Contigo and eZ-nergy in France, has produced 83% revenue growth for the European business (i.e. Contigo and eZ-nergy as compared to the previous 12-months). Importantly, European revenues are now the greater share of the business and yet EnergyOne’s market share in Europe is significantly lower than Australia suggesting further room for… continue reading
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