Energy-as-a-Service provider eEnergy Group has delivered a substantial turnaround in profitability, with adjusted EBITDA surging 183% to £1.7m for the year ended 31 December 2025.
The AIM-listed company posted revenues of £23.0m, down from £25.1m the previous year. However, £4.0m of anticipated FY25 revenue has been pushed into the first half of 2026. Gross margin improved to 35.3% from 34.7%, reflecting better project budgeting and tighter operational controls.
Encouragingly for investors, the company’s contracted and awarded order book stood at a record £14.0m at year-end, doubling from £7.0m at the start of the year. With improved revenue visibility for FY26, the board expects revenues of £34.0m and adjusted EBITDA of £4.5m. This would be a major improvement on figures announced today for the prior year.
“Our strategy is working; we have pivoted from a direct sales education business to a multi-channel, framework, and partner-driven development platform across education (where we are market leaders), healthcare and commercial and industrial. We have an exceptional proposition, underpinned by a funding model which provides our customers with a truly off-balance sheet solution, which we believe is unique in the UK market,” said Harvey Sinclair, CEO of eEnergy.
“We are pleased to have secured several major new contracts and awards in H2-25, namely Mace, LASER and the NHS NEEF portfolio. Despite the strong sales growth over FY25, evidenced by our record year-end contracted order book which is 100% higher from the position at the start of the FY25, a small number of large contracts were delayed which we expect to conclude in H1-26.”
Major contract wins
The company’s strengthened framework capabilities delivered several significant awards during the year. NHS trusts awarded eEnergy a combined £1.7m following successful funding applications to the NHS National Energy Efficiency Fund for LED lighting, solar PV and battery storage projects.
A standout contract came from a UK government-backed solar PV and battery installation project managed by Mace. Initially covering 47 schools, the project expanded to 73 schools and now includes LED and EV installations. eEnergy recognised £5.1m of revenue from this contract in FY25, with cash inflows commencing in January 2026.
Other notable wins included a £2.0m solar PV ground-mount installation at a UK golf course and a £0.7m local authority contract with West Berkshire Council for solar installation at an integrated waste management site.
The company also launched SolarLife, a structured operations and maintenance service expected to generate £0.2m of recurring revenue from FY26 onwards.
eEnergy shares were 9% higher at the time of writing.