REG - Sabien Technology - Final Results for the Year Ended 30 June 2025
13/11/2025 07:00
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RNS Number : 3208H Sabien Technology Group PLC 13 November 2025
13 November 2025
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION
11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.
The directors take responsibility for this announcement.
Sabien Technology Group plc
("Sabien", the "Company" or the "Group")
Audited Full Year Results for the Year Ended 30 June 2025
Sabien Technology Group plc (AIM: SNT), a leader in Green Aggregation
Strategy, is pleased to announce the publication of its audited annual report
and accounts for the year ended 30 June 2025 (the "Annual Report").
Sabien highlights 2025
· Revenue for the year £0.85m (2024: £0.71m);
· Loss after tax £0.65m (2024 £0.52m as restated);
· Overseas revenue £0.01m (2024: £0.03m);
· Contract liabilities (revenue billed in advance)
carried into 2025 £0.11m (2024: £0.11m);
· Forward orders carried into 2025 £0.10m (2024:
£0.05m);
· Settlement of £0.24m of board remuneration, £0.04m
broker fees and £0.03m other liabilities through the issue of new share
capital;
· Related party stock funding provided by Parris Group
Limited ("PG"): Sabien buys stock as needed off PG and pays cost plus a 20%
mark up, £0.1m included in revenue (2024: £nil) in relation to the facility;
· IP development and IT support provided by PG for 5% on
cash collected from sales; and
· Confirmation that Sabien's associate company: b.grn
Group Limited ("b.grn") had signed a letter of intent to lease land in Phoenix
Arizona in relation to a City Oil Field Inc. ("COF") Regenerated Green Oil
Project ("RGO").
Highlights since the year end
· Orders received to 30 September 2025 £0.32m (£0.07m to 30
September 2024).
The Annual Report will be published on the Company's website
(https://sabien.com/sabien-technology-investors-2/
(https://sabien.com/sabien-technology-investors-2/) ) in compliance with its
articles of association and the electronic communications provisions of the
Companies Act 2006.
A copy of the Annual Report can also be accessed through the link below.
http://www.rns-pdf.londonstockexchange.com/rns/3208H_1-2025-11-12.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/3208H_1-2025-11-12.pdf)
Key extracts from the Annual Report can also be viewed below.
Notice of AGM
The Company will hold its Annual General Meeting at 10.00 a.m. on 9 December
2025 at the offices of Peterhouse Capital Limited, 80 Cheapside, London, EC2V
6DZ (the "AGM"). The notice of the AGM will be published on the Sabien
website and notified shortly to shareholders.
- Ends -
For Further Information:
Sabien Technology Group plc
Richard Parris, Executive Chairman +44 20 7993 3700
investors@sabien.com
www.sabien.com (http://www.sabien.com/)
Allenby Capital Limited (Nominated Adviser)
John Depasquale / Nick Harriss / Vivek Bhardwaj +44 203 328 5656
AlbR Capital Limited (Broker)
Duncan Vasey / Lucy Williams +44 207 469 0930
About Sabien Technology Group plc
Sabien Technology Group plc provides energy reduction solutions designed to
help businesses achieve their sustainability goals, with a particular focus on
reducing energy consumption and carbon emissions.
The Sabien Technology Group plc holds the Green Economy Mark from the London
Stock Exchange, recognising companies generating over 50% of their revenues
from sustainable products and services.
About M2G Cloud Connect Solution
Sabien's M2G Cloud Connect solution, which underpinned this order, provides
real-time, visible energy and CO2 savings, and analytics. By continuously
monitoring plant operations, M2G Cloud Connect captures and processes data,
offering actionable insights via an intuitive smart dashboard. This technology
not only delivers immediate energy savings but also offers clear guidance on
optimising plant performance and efficiency.
Extracts from the Annual Report
Executive Chairman's Statement
I am pleased to present Sabien's audited results for the year ended 30 June
2025. This has been a year of disciplined execution and strategic focus as we
advance our Green Aggregation Strategy in a rapidly evolving market.
The green technology sector continues to attract global attention; however,
development timelines in certain areas-most notably the hydrogen economy-are
lengthening. In addition, recent U.S. policy changes under President Trump's
administration, particularly the softening of federal CO₂ reduction targets,
have altered the pace and nature of investment in some clean technologies.
This has reinforced our belief that success in our sector requires focus on
commercially viable solutions that deliver measurable benefits-regardless of
the prevailing political or policy environment.
Strategic Focus and Portfolio Discipline
We have concentrated our resources on two strategic growth priorities:
· M2G Cloud Solutions - our CO₂ mitigation technology for
commercial boilers, where migration to a partner-led channel sales strategy
has delivered compound growth of 35% since 2022. FY25 revenue rose to £0.85m
(2024: £0.71m), underpinned by recurring revenues and a growing order book,
and including £0.1m in relation to sales to Parris Group Ltd ("PGL"). The
sales to PGL represent bulk sales of stock that Sabien intends to buy back as
needed to deliver on its order book. The channel model is proving scalable and
margin-accretive.
· City Oil Field (COF) Partnership - a breakthrough plastic-to-oil
technology that converts end-of-life plastics into ultra-pure fuel. Our
exclusive rights in the UK and a key US state, extended until 2029, position
us to capture significant opportunity as the first commercial module moves
into production.
Both businesses address urgent, tangible needs: lowering emissions from
existing infrastructure and reducing the environmental impact of waste
plastics. Together, they demonstrate our commitment to pursuing solutions that
make the world cleaner and better-regardless of shifting environmental
priorities at the national or international level.
Portfolio Rebalancing
Our investments in Proton Technologies and Aeristech Limited were both focused
on hydrogen technologies-Proton through underground hydrogen extraction, and
Aeristech through high-efficiency electric motor systems for hydrogen fuel
cells. While both remain innovative in their respective fields, the current
slowdown in the development of the hydrogen economy, coupled with extended
timelines to commercialisation, has led us to fully impair both investments.
This ensures capital is directed toward opportunities with faster paths to
market and revenues under our direct influence.
Comparative Financial Results
During FY25, Sabien generated revenue of £0.85m, an increase of 20% over the
£0.71m achieved in FY24, despite a steep reduction in contributions from our
long-standing government customer-from £0.63m in 2023 to £0.02m in the year
under review. Revenue in the second half of FY25 excluding Parris Group
related party stock sales was £0.46m compared with £0.29m in the first half,
reflecting strong momentum from our channel sales strategy. Gross margin for
the year was 65% (FY24: 82%), the reduction reflecting the impact of the
related party stock sales to PGL, which also enhanced working capital
flexibility. Notably, sales revenues in the first three months of FY26 have
already exceeded those generated in the first six months of FY25, providing a
robust platform for the year ahead.
Outlook
Sabien enters the new financial year with operational momentum, a strengthened
portfolio, and a clear focus on execution within our chosen markets. The
successful repositioning of our M2G business onto a scalable, partner-led
model continues to demonstrate the advantages of recurring, channel-driven
revenue. With a growing pipeline of commercial opportunities, particularly in
the UK and Europe, we see increasing validation of our technology's role in
helping customers achieve tangible CO₂ reductions through practical,
cost-effective means.
Our strategic collaboration with City Oil Field continues to progress in
synchronisation with COF's development schedule in Korea. We remain committed
to developing this partnership into a platform for broader commercial
deployment. With the first RGO production modules now entering full-scale
operations in Korea and full international certification achieved, the
technology has matured from concept to commercial reality. Sabien's rights in
the UK and a key U.S. state provide a solid foundation from which to develop a
high-impact, environmentally responsible business capable of addressing the
global plastic waste challenge while supporting sustainable fuel supply
chains.
The Board remains alert to market conditions and disciplined in its capital
allocation, focusing resources where they can deliver near- and medium-term
value. The business is well-positioned to build on the momentum established in
FY25, with early FY26 performance reinforcing confidence in Sabien's direction
of travel. Our strategy-anchored in the commercialisation of proven, clean
technologies-remains consistent: to deliver measurable impact, sustainable
growth, and long-term value for shareholders.
Prior period restatement
During the year the Board identified that a prior period restatement was
required in relation to the treatment of loss from associated undertakings
which affects the balance sheet dates 1 July 2023 and 30 June 2024. In
addition, an over- accrual of intellectual property amortisation has also been
corrected, affecting the same periods The details are set out in note 32 and
resulted in additional retained profits of £24k at 1 July 2023 and £21k for
the year ended 30 June 2024.
Extract from the Independent Auditors' Report
Material uncertainty related to going concern
We draw attention to note 5 (ii) to the consolidated financial statements,
which states that the Group made a loss of £645,000 for the year ended 30
June 2025 (2024: £520,000) and had net current liabilities of £450,000
(2024: £310,000). The directors have prepared cash flow forecasts to 30 June
2027 for base case and downside scenarios that show that the Group has the
ability to pay its liabilities as they fall due for at least twelve months
from the date of signing these financial statements, subject to the
implementation of the planned factoring facility with Parris Group Limited.
However, the ability of the Group to grow its revenue and return to
profitability depends upon its ability to convert its sales pipeline into
contracted revenue and there can be no certainty in this respect. As stated in
note 5 (ii) these events or conditions, along with the other matters as set
out in note 5 (ii) indicate that a material uncertainty exists that may cast
significant doubt on the Group's ability to continue as a going concern. Our
opinion is not modified in respect of this matter.
In auditing the financial statements, we have concluded that the directors'
use of the going concern basis of accounting in the preparation of the
financial statements is appropriate. Our evaluation of the directors'
assessment of the appropriateness of the going concern basis of preparation of
the financial statements included:
· discussing their going concern assessment, including their view
and perspective associated with Group's ability to continue as a going
concern;
· reviewing the accuracy of the forecast through performing
arithmetical checks;
· critically assessing the cash flow forecast to 30 June 2027 and
assessing the underlying assumptions to determine whether they were
reasonable;
· critically assessing the directors' assertion that the company
and group can continue as a going concern by reference to post year-end
trading and cash flows and the ability to raise further funds if required;
· performing sensitivities to analyse the impact of reasonably
possible downside scenarios and critically assessing the directors' own
sensitivity analysis
· comparing the prior year forecast against actual results and the
trading performance post year end against the current forecast to assess their
accuracy; and
· reviewing the relevant disclosures within the annual report in
line with management's assessment and considering other related aspects.
Our responsibilities and the responsibilities of the directors with respect to
going concern are described in the relevant sections of this report.
Emphasis of Matter
We draw attention to note 5 (vi) to the consolidated financial statements
which describes the uncertainty regarding the timing of the cashflows in
respect of the other investments in associates totalling £193,000. The
directors have assessed progress on the development of the Regenerated Green
Oil project but due to the uncertainty of factors such as funding requirements
and site development the overall success of the project at this early stage,
and the timing of the related cash flows, cannot be measured with certainty.
Our opinion is not modified in respect of this matter.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2025
RESTATED
2025 2024
Notes £000 £000
Revenue 6 847 711
Cost of (297) (129)
sales
Gross 550 582
profit
Administrative (1,006) (1,117)
expenses
Operating 8 (456) (535)
loss
Other 10 - 2
income
Finance 12 (26) (11)
cost
Finance 12 - 3
income
Impairment loss on 18 (101) -
investments
Impairment loss on intangible assets 16 (91) -
Share of loss from associate undertaking 19 - (1)
Loss before (674) (542)
tax
Tax 13 27 18
credit
Loss for the year attributable to equity holders of the parent (647) (524)
company
Other comprehensive - -
income
Total comprehensive income for the (647) (524)
year
Loss per share in pence ‑ 14 (2.66) (2.36)
basic
Loss per share in pence ‑ 14 (2.66) (2.36)
diluted
The earnings per share calculation relates to both continuing and total
operations.
CONSOLIDATED AND COMPANY STATEMENTS OF FINANCIAL POSITION
AS AT 30 JUNE 2024
RESTATED RESTATED
Group Group Group Company Company
2025 2024 2023 2025 2024
Notes £000 £000 £000 £000 £000
ASSETS
Non‑current assets
Property, plant and equipment 15 - - 1 - -
Intangible assets 16 141 262 223 - 91
Investments 18 193 296 295 281 384
Total non‑current assets 334 558 519 281 475
Current assets
Inventories 17 3 70 79 - -
Trade and other receivables 20 211 175 202 16 26
Cash and cash equivalents 21 67 100 436 4 36
Total current assets 281 345 717 20 62
TOTAL ASSETS 615 903 1,236 301 537
EQUITY AND LIABILITIES
Current liabilities
Trade and other payables 22 438 513 500 179 223
Borrowings 24 239 139 39 203 103
Provisions for liabilities 23 50
Total current liabilities 727 652 539 382 326
Non‑current liabilities
Borrowings 24 - 36 72 - -
Total non‑current liabilities - 36 72 - -
Equity
Equity attributable to equity holders of the
parent
Share capital 25 3,716 3,608 3,563 3,716 3,608
Share premium 4,290 4,091 4,021 4,290 4,091
Other reserves 9 (4) (3) - -
Retained earnings (8,127) (7,480) (6,956) (8,087) (7,488)
Total equity (112) 215 625 (81) 211
TOTAL EQUITY AND LIABILITIES 615 903 1,236 301 537
CONSOLIDATED AND COMPANY CASH FLOW STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
RESTATED
Group Group Company Company
2025 2024 2025 2024
£000 £000 £000 £000
Cash flows from operating
activities
Loss after (647) (524) (599) (492)
taxation
Adjustments
for:
Depreciation and 38 41 - 3
amortisation
Impairment loss on 101 1 101 -
investments
Impairment loss on intangible assets 91 - 91 -
Corporation (27) (18) - -
tax
Finance 26 11 22 5
cost
Equity settled current liabilities 307 - 307 -
Share of loss from associate undertaking - 1 - -
(Decrease) / increase in trade and other receivables (33) 90 10 68
Decrease in 71 9 - -
inventories
(Decrease) / increase in trade and other (18) (38) (48) 115
payables
Net cash outflow from operating (91) (427) (116) (301)
activities
Cash flows from investing
activities
Purchase of intangible (8) (79) - -
assets
Loan advance to associated 2 (2) 2 (2)
undertaking
Research and development corporation tax refund 22 - - -
Net cash from / (used in) investing 16 (81) 2 (2)
activities
Cash flows from financing
activities
Proceeds from 100 100 100 100
borrowings
Repayment of (36) (36) - -
borrowings
Interest (22) (7) (18) (1)
paid
Proceeds from share - 120 - 120
issues
Share issue - (5) - (5)
costs
Net cash generated by financing 42 172 82 214
activities
Net decrease in cash and cash (33) (336) (32) (89)
equivalents
Cash and cash equivalents at the beginning of the year 100 436 36 125
Cash and cash equivalents at the end of the year 67 100 4 36
Cash and cash equivalents
comprise
Cash and cash 67 100 4 36
equivalents
67 100 4 36
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