Inspired Energy PLC Trading Update and Notice of Results (4143V)
30 January 2017 - 6:00PM
UK Regulatory
TIDMINSE
RNS Number : 4143V
Inspired Energy PLC
30 January 2017
30 January 2017
Inspired Energy plc
("Inspired Energy" or the "Group")
Trading Update and Notice of Results
Inspired Energy (AIM: INSE), a leading energy procurement
consultant to UK corporates, is pleased to provide a trading update
for the financial year ended 31 December 2016.
Group Results
Inspired continues to deliver on its growth strategy and expects
to report results in line with market expectations, which were
revised upwards during 2016:
-- Group revenues are expected to be c.40 per cent ahead of
2015, with adjusted EBITDA* c.45 per cent ahead of the previous
year.
-- Procurement Corporate Order Book stood at GBP28.0 million
(2015: GBP24.5 million) representing year on year growth of 14 per
cent.
-- Trading remained strong throughout the year, a trend which is
continuing into the start of the new financial year.
-- Following the acquisition of Informed Business Solutions
Limited ("Informed") in September 2016, net debt is expected to be
approximately GBP10.8 million at the year end.
Corporate Division
The Corporate Division enjoyed another excellent year,
delivering strong organic growth and the Board is delighted by the
successful acquisition of Informed in September 2016. Since the
acquisition, Informed has broadened the Group's customer base and
strengthened the Group's presence in the multi-site retail and
leisure markets for energy procurement. The integration of the
business is now virtually complete and the entire team has now
relocated to Inspired Energy's head office in Kirkham.
The Procurement Corporate Order Book ("Order Book"), remains a
consistent guide to future performance of the Group and provides
strong visibility of revenues for the next three years.
Accordingly, the Group is pleased to announce that, as at 31
December 2016, the Order Book stood at GBP28.0 million (2015:
GBP24.5 million) representing year on year growth of 14 per cent.
On a like-for-like basis, excluding the acquisitions concluded in
FY16 and FY15, the organic Order Book grew by 9% to GBP19.1 million
(2015: GBP17.5 million). Order Book Sales were GBP13.5 million in
the year (2015: GBP12.2 million).
Following the acquisitions made within the Corporate Division in
FY15 and FY16, and consistent with the Group's stated strategy, the
Corporate Division increased its contribution to total Group
revenues, representing approximately 75 per cent. of Group revenue
and EBITDA, an increase of 8 per cent. against 2015 (67 per
cent.).
SME
The SME Division has performed well in the year and continued to
deliver strong growth in revenue, profits and cash generation, in
line with the Board's expectations.
Janet Thornton, CEO of Inspired Energy, commented: "Inspired had
a very strong 2016 in which the business delivered on its stated
growth strategy. I am delighted that we have been able to conclude
and integrate all three acquisitions completed over 2015 and 2016
whilst simultaneously delivering on our organic growth targets.
"We continue to seek out attractive acquisitions and I am
confident that 2017 will be another year of positive growth for
Inspired."
Final Results
Inspired Energy expects to announce its full year results for
the year ended 31 December 2016 on 27 March 2017.
* Earnings before exceptional costs (transaction fees in
relation to acquisitions), depreciation, amortization and
share-based payment costs
Enquiries please contact:
Inspired Energy plc www.inspiredenergy.co.uk
Janet Thornton, CEO +44 (0) 1772 689250
Paul Connor, Finance Director
Shore Capital (Nomad and Joint
Broker)
Bidhi Bhoma
Edward Mansfield +44 (0) 20 7408 4090
Panmure Gordon (Joint Broker)
Ben Thorne
Erik Anderson +44 (0) 20 7886 2500
Gable Communications +44 (0) 20 7193 7463
Justine James +44 (0) 7525 324431
John Bick inspired@gablecommunications.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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