eEnergy: Contract Win
New Contract Win
The Board of eEnergy Group plc (AIM: EAAS), a leading “Energy Efficiency-as-a-Service” (EEaaS) business in the UK and Ireland, is pleased to announce its largest ever single contract.
The Group’s subsidiary, eLight U.K, secured the £1m contract to install LED Lighting at four schools for a UK multi-academy trust. The revenue will be recognised as the projects are installed, which is expected to be completed by 31 December 2020.
This contract win further underpins the Board’s revenue growth expectations for the current financial year to 30 June 2021, and the Board continues to expect the Group to achieve breakeven profit after tax (before exceptional items) for the six months ended 31 December 2020.
Harvey Sinclair, CEO of eEnergy, commented:
“We are delighted to have secured our largest contract win to date. In addition to the strong momentum experienced in the first quarter, this new contract further underpins the Board’s revenue expectations for the full year to 30 June 2021 and reinforces our position as the leading provider to the UK education sector. Given their low level of conversion to LED lighting, schools continue to represent a substantial growth opportunity for eEnergy.”
As outlined in the interview below Harvey Sinclair, the Group’s CEO, expects government policy and the savings clients can make from using their services, will continue to drive the business forward.
