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Energy Assets plc



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...ist ein smart-meter provider;

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Energy Assets Group plc (“Energy Assets” or the “Group”)
13 January 2016

Q3 Trading Update


Energy Assets Group plc (LSE: EAS.L) is pleased to issue a trading update for the period from 1 October 2015 to the present date.

Financial highlights for the nine months to 31 December 2015

Total revenue for the period increased by 22% to £31.5m (9 months to 31 December 2014: £25.9m);

 Recurring revenue increased by 15% to £19.3m (9 months to 31 December 2014: £16.8m), accounting for 61% of total revenue;

 Siteworks revenue increased by 34% to £12.2m (9 months to 31 December 2014: £9.1m);


 In November 2015, the Group announced a £10m increase to its current facility with Lombard, the asset finance division of The Royal Bank of Scotland Group, taking total facilities from the Group’s three main funding partners to £110m. Additionally, a two year extension of the Group’s £35m Bank of Scotland facility was also agreed in November 2015;

 At 31 December 2015, the Group had available facilities and cash at bank totalling £38.4m.


Operational highlights

 The Group’s owned and managed asset portfolio has increased by 23,000 assets since the half year to circa 427,000 assets (30 September 2015: circa 404,000, 31 March 2015: circa 365,000) with all existing major contracts across gas and electricity contributing to this growth;

 The Group acquired Blyth Utilities Limited (Blyth), a Multi-Utility Infrastructure Provider specialising in the design and construction of utility networks and infrastructure direct to commercial and residential developers, on 9 December 2015. This acquisition will enable Energy Assets to provide a complete multi-utility infrastructure offering across gas, electricity and water, in accordance with the Group’s strategy, whilst also creating opportunities to deliver services to businesses within the growing UK house building sector;

 Energy Assets was appointed as a preferred supplier to Crown Gas and Power (Crown), the gas supply division of Crown Oil Ltd in December 2015. The appointment, for the provision of advanced gas metering technology and data services solutions, was made due to Energy Assets reputation for delivering a high quality service offering.


Outlook

The last quarter of the financial year has started well and the Group’s major contracts and Siteworks business continue to perform strongly. Integration of the Blyth acquisition will continue throughout the final quarter of this financial year. Energy Assets therefore remains well positioned to deliver results in line with expectations for the financial year ending 31 March 2016 and to achieve its primary objectives which are:

 To further consolidate its position as the largest independent metering and data service provider to the UK I&C gas sector;

 To grow its position across the utility sector as a whole; and

 To grow the successful Siteworks business and expand the range and complexity of the
services provided.


Commenting on today’s announcement, Energy Assets Chief Executive Phil Bellamy-Lee said:

“The Group has continued to deliver strong growth in the period which is significantly ahead of the same period in the prior year. The Blyth acquisition represents another positive milestone for Energy Assets as we continue to grow our business, both organically and through acquisition, and extend our product ranges and service offering to a wider multi-utility market sector.”
war'n kurzes Vergnügen: Übernahme
Alinda Funds picks up Energy Assets Group for £198m in cash
Mon, 18 April 2016


(ShareCast News) - Energy Assets agreed to be bought by BidCo, a company wholly-owned by Alinda Funds, for approximately £198m in cash.

The Livingston-based firm - which floated on the LSE on 22 march 2012, with a market cap of £57m - described itself as the UK's largest independent provider of industrial and commercial gas metering services.

BidCo, which was wholly owned by Alinda Funds, said it would pay 685p per share of Energy Assets, representing a premium of approximately 48.0% on the closing share price of Energy Assets on the day prior to the announcement.

Alinda Funds's offer valued the company at approximately 13.8 times earnings before interest, taxes, depreciation and amortisation for the period ended on 31 March 2015, Energy assets said in a statement.

The consideration payable under the Acquisition will be funded through a mixture of equity financing provided by the Alinda Funds and debt funding from bank facilities provided to the BidCo Group.

Commenting on the Acquisition, Dr Christopher Masters, Chairman of Energy Assets, said: "Since the time of the IPO of Energy Assets in March 2012, Energy Assets has successfully executed its strategy of generating high levels of revenue growth, broadening its activities and market reach and increasing profitability. Whilst Energy Assets is well placed to continue to deliver on its stated strategy, the recommended acquisition by BidCo announced today will enable shareholders to crystallise an immediate and certain value in cash.

"It represents a significant premium to both the recent share price trading levels and the share price at the time of the IPO and avoids exposure to the risks and uncertainties implicit in executing a forward looking strategy. Furthermore, the combination with BidCo represents an exciting opportunity for Energy Assets' clients, employees, partners and other stakeholders to benefit from being a part of Alinda."

As of 10:08 BST shares in Energy Assets were higher by 38.83% to 677.5p.
Antwort auf Beitrag Nr.: 52.654.340 von R-BgO am 20.06.16 13:45:12
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