Inspired Energy plc – Results for year ended 31 December 2013

inspiredenergyInspired Energy plc, an energy procurement consultant to UK corporates, has announced its final results for the year ended 31 December 2013.

Financial Highlights

  • Revenue increased 45% to £7.62 million (2012: £5.26 million)
  • EBITDA before exceptional costs and share-based payment costs increased 34% to £3.55 million (2012: £2.64 million)
  • Operating profit for the year was £1.98 million (2012: £1.17 million)
  • Adjusted EPS* increased 40% to 0.67 pence (2012: 0.48 pence)
  • Profit before tax of £1.75 million (2012: £0.89 million)
  • Record period of new sales, continuing into the new year
  • Order book grew 23% to £11.0 million (2012: £8.9 million)
  • The SME division contributed revenue in the year of £1.35 million (2012: £0.17 million)
  • Final dividend proposed of 0.12 pence per share (interim dividend of 0.05 pence per share)

* Excluding amortisation, acquisition cost, share based payments and restructuring cost.

Operational Highlights

 Strong organic growth within the SME sector following launch of EnergiSave, which has continued into 2014

Further diversification of customer base into new sectors

Significant investment in staffing to drive revenue growth with average headcount in year increasing 22% to 66 (31 December 2012: 54)

Additional investment in bespoke core IT platform to optimise sales and client servicing

Successful introduction of new products in the year, including the new product set within the SME division and the Multi-Customer Management Solution in the Corporate division

High client retention levels maintained. Renewals across the Group at 85%. Risk Management division achieved 100% retention

Post period end acquisition of two SME focused businesses, adding an online platform and broadening the client base, complementing the existing EnergiSave business.

Commenting on the results, Janet Thornton, Managing Director, said:  “2013 was a stellar year for Inspired, one which has put the Group in a very strong position to build on this solid growth into 2014. The team grew by 22% and the record results we have delivered are testament to their hard work and commitment to the business. The current year has started well and the Group is ahead of the Board’s expectations, with a strong pipeline for the year ahead. Inspired is in a leading position to continue to take advantage of the strong, structural growth trend we are witnessing in the energy consultancy sector, which will further benefit the Group in the years to come as businesses increasingly look to energy consultancies to help them with their energy procurement negotiations and strategies. We look forward to a successful 2014 and the opportunities of building the Group organically and through further acquisitions within the sector.”

Uk, Kirkham, Lancashire