Recently, I talked with Simon Wheeler, CEO of Energy one Europe. He was pretty upbeat in his analysis reporting that, since June, it had completed four new ETRM deals that he described as one large and three smaller deals as well as four additional deals for its scheduling software. He pointed out that it typically does two deals a month on the scheduling side. “We are seeing a lot of activity and E-World was super for us. We had a large, combined stand for the first time and conducted around 150 meetings at the event with prospects and customers,” he said. “Attendance may have been down a little but the people there were genuinely looking to buy and asking serious questions.”
Meanwhile, the company is working on setting up and building its global services capabilities and indeed, is building a global team. This involves secondment of staff with Europeans headed to Australia and vice versa to gain knowledge and spread expertise within the Energy one Group. The services side will be a follow the Sun operation and a program manager has already been hired in Singapore to help direct it, he told me.
Other software solutions are also doing well such as the VaR module, the algo trading and auction bidding software and a PPA solution that will be available soon. Meanwhile, it continues to invest in new technologies and platform upgrades, he told me. Additionally, EnFlow us being used to help automate internal processes. It is also working on a battery optimization tool as well.
Since talking with Simon, Energy one Group released its FY22 financial report showing revenue up 16% to $32.4m AUS and EBITDA up 15% for the same period. With 50% market share in Australia and a growing base in Europe, Energy one Group reports 346 installations at customer sites. While Australian revenues were up by 6%, its European acquisitions are now responsible for 54% of Group revenues and there is significant potential there for further growth in our view. The full financial disclosures are worth a separate blog article and will be covered in more detail there.