Energyone provided an FY24 result update. Optically it looks terrible thanks to very weak 1H ( that was already known to the market)

Now if we look at the result and compare half-on-half

If we look at the expenses, 1H shows some one-off charge ( 1.8m worth). Although Salary cost increased to 28% in FY24 compared to FY23

Debt has been reduced from 22m to 16m ( they did capital raise in 2H and as a result Share count has increased from 27m to 31.5m)

It is roughly trading at 135m market cap

with 52m Revenue ( 89% recurring revenue) in FY24

There is a con call tomorrow ( unfortunately, I won't be able to attend)

FY25 guidance or commentary will be important for the valuation.

Hopefully, all one-off will be behind them, 1H FY25 should be much much better than 1hFY24

New article published

https://www.ctrmcenter.com/blog/energy-ones-european-operations-growing-on-the-back-of-saas-and-managed-services/

Few interesting points

• Energy One Europe has now successfully consolidated all the acquired brands such as Contigo, eZ-nergy and EGGSIS, and the European operation is now working as one seamless entity
• Simon also reported that it had just signed a larger ETRM deal for its Contigo software in the UK for a firm trading in European markets and has recently signed new deals on the scheduling and logistics side of the business.
• Energy One is also offering managed services in several areas and seeing significant growth and opportunities in that area of its business. It now has over forty customers using its managed services ranging from trading on behalf of as per agreed strategies, to out of hours and weekend balancing, dispatch, and auctioning services. “We have some smaller clients who use our managed services extensively and a number of larger ones who use our services for weekend and out of hours coverage,” he told me. “With our follow the sun structure and operations, we can offer all day shifts.”

Here is a handy link for someone like me who never had anything to do with industry to understand the basics.

https://www.aemc.gov.au/sites/default/files/content//Five-Minute-Settlement-directions-paper-fact-sheet-FINAL.PDF#:~:text=The%20national%20electricity%20market%20(NEM)%20operates%20as%20a%20market%20where,and%20demand%20is%20matched%20instantaneously.

Five Minute Settlement

National Electricity Market Fact Sheet