Source - Alliance News

Eneraqua Technologies PLC - London-based energy and water efficiency solutions provider - Expects revenue and profit for year ended January 31 to be well ahead of financial 2022, with revenue up 54% to £55 million from £36.2 million. Says this is behind market expectations for revenue of £61.3 million to £61.5 million. However, expects gross margin to be ahead of market expectations, and earnings before interest, tax, depreciation and amortisation to be within the range of market expectations, which the company places at £11.4 million to £12.2 million. In financial 2022, Eneraqua booked Ebitda of £5.6 million and adjusted Ebitda of £6.7 million.

Says order book has grown to a record £110 million, with 72% of this to be delivered in financial 2024.

Chief Executive Officer Mitesh Dhanak says: ‘It has once again been a record year for Eneraqua with another period of significant growth reflecting the strength of our decarbonisation and water efficiency solutions. We remain confident in the group’s outlook for the year ahead.’

Current stock price: 310.00 pence, down 11% on Tuesday afternoon in London

12-month change: up 14%

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