Energy Action delivers double digit growth in Revenue and Operating Cash Flow, increases dividend by 8%

by Energy Action | Feb 26, 2016
Energy management technology and services company Energy Action Limited (ASX: EAX) (“Energy Action”) today reported FY2016 first half results.


  • - HY2015 Revenue up 11% to $17.4 million 
  • - Operating1 NPAT down 4% to $1.7 million 
  • - Operating Cash Flow2 up 15% to $2.9 million 
  • - Sites under Contract Management up 3% from H2 FY2015 to 15,706
  • - First half fully franked dividend of 2.80 cents – up from 2.59 cents in H1 FY2015 
  • - Establishment of Technical Advisory Board
  • - Announcement of SunEdison solar and storage partnership
  • - FY2016 full year guidance confirmed at $3.4m - $3.9m Operating1 NPAT against $2.7m FY2015

Energy management technology and services company Energy Action Limited (ASX: EAX) (“Energy Action”) today reported FY2016 first half results, delivering Operating1 Net Profit After Tax (NPAT) of $1.655 million, a 4% decrease on the prior year. The company delivered revenue of $17.4 million, up 11% on the previous corresponding period. Profit was slightly down on the prior period with majority of sales growth from lower margin products limiting gross margin growth to 4%, and higher finance costs.    

Due to EAX’s ability to strengthen cash flow, the Directors have declared a fully franked interim dividend of 2.80 cents per share for the six months to 31 December 2015, payable on 21 March 2016. This represents an increase of 8% from the H1 FY15 dividend of 2.59 cents, fully franked.

Key Financial Metrics

H1 FY2016

H1 FY2015

Variance

Revenue

$17.36m

$15.66m

11%

Statutory NPAT

($0.61)m

($0.42m)

(46%)

Operating NPAT1

$1.66m

$1.73m

(4.3%)

Future contracted revenue3

$72.7m

$75.8m

(4%)

Operating Cash Flow2

$2.92m

$2.53m

15%

Earnings per share (statutory)

(2.37)c

(1.62)c

(46.2%)

Earnings per share (Operating)

6.38c

6.67C

(4.3%)

Dividend per share

2.80c

2.59

8%























1 – Before $2.07m deferred consideration for Exergy and EnergyAdvice and share based payments associated with Energy Action’s PROP.
2 – Operating Cash Flow before Interest, Taxes and Significant Items
3 – Future contracted revenue includes Procurement Services, Contract Management Services and Projects & Advisory Services.
 



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