GCIeEnergy: Equity Development
(EAAS ) H1 update confirms that trading remains in line with expectations with momentum building at the start H2’24. As previously reported, H1 started slowly as a result of weak market conditions and balance sheet constraints, which were resolved by the sale of the Energy Management (EM) division in Q1. Encouragingly, market conditions have improved and full year revenue guidance has been maintained at £25-26m.
We make no changes to our underlying forecasts. The interim accounts are expected to reflect an exceptional adjustment following a thorough review of Group structure post the EM disposal. In our view, recent months have been transformative for eEnergy, positioning the Group to capture the significant market opportunity that exists across Solar and LED lighting, in particular.
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