REG - Eneraqua Technolgs. - Update on year end audit and trading

Eneraqua TechnologiesAnnouncement

Mon 07:00

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RNS Number : 8942P  Eneraqua Technologies PLC  07 July 2025

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

 

7 July 2025

Eneraqua Technologies plc

("Eneraqua", the "Company" or the "Group")

 

Update on year end audit and trading

 

Eneraqua Technologies plc, a specialist provider of specialist energy and
water efficiency solutions, announces that for the year ended 31 January 2025
("FY25") the Group expects to report revenues of £63m and adjusted profit
before tax in line with market expectations. The Company secured a material
contract for £7m within its water division which was substantially completed
in January 2025 and recognised in FY25 as accrued revenue in accordance with
the Group's accounting policies. This contract concerned the installation of
its proprietary Control Flow HL2024 technologies into homes to generate
nutrient credits with payment from the counter-party linked to new home
construction in the area.  These payments are expected to start shortly as a
well-known housebuilder begins development in the area.

During FY26, the Company has experienced significant delays in the receipt of
payments due from some clients and the deferral of certain energy projects
which has placed significant strain on the Company's balance sheet and supply
chain. The Company is accordingly managing working capital closely and
actively engaging its finance provider through its invoice discount facility,
who have been supportive of the Company. The Company has also engaged advisers
to assist in exploring opportunities for additional interim funding should it
be required. The Company is in the closing stages of finalising the disposal
of a non-core subsidiary with net initial proceeds of c£1m to be applied for
general working capital purposes by the Group.

The Company is working to address these matters and finalise its audit ahead
of 31 July 2025.

 

 For further information please contact:

 Eneraqua Technologies plc                           Via Alma

 Guy Stenhouse, Chair

 Mitesh Dhanak, Chief Executive Officer

 John Samuel, Chief Financial Officer

 Panmure Liberum Limited (Nomad and Joint Broker)    Tel: 0203 100 2000

 Edward Mansfield

 John More

 Singer Capital Markets (Joint Broker)               Tel: 020 7496 3000

 Asha Chotai
 Alma Strategic Communication (Financial PR)

 Justine James                                       Tel: 020 3405 0205

 Andy Bryant                                         eneraqua@almastrategic.com

 Will Ellis Hancock

 

Notes to editors

Eneraqua Technologies (AIM:ETP) is a specialist in energy and water
efficiency. The Group operates in two markets, energy and water. In Energy,
the Group is focused on clients with end of life gas, oil or electric heating
and hot water systems. The Group provides turnkey retrofit district or
communal heating systems based either on high-efficiency gas or ground/air
source heat pump solutions that support Net Zero and decarbonisation goals.

 

Water is a growing service offering focused on water efficiency upgrades for
utilities and commercial clients including hotels and care homes.

 

The Group's activities are underpinned by its wholly-owned intellectual
property, the Control Flow HL2024 family of products, which reduce water
wastage and improve the performance of heating and hot water systems.

 

The Group's main country of operation is the United Kingdom. The Group's head
office is based in London with additional offices in Leeds, Sunderland, India,
Spain and the Netherlands. The Group has over 200 employees, with the majority
employed within the UK.

 

To find out more, please visit:  www.eneraquatechnologies.com
(http://www.eneraquatechnologies.com/)

 

 

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