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Inspired revenue grows as energy crisis stokes business demand

Last updated: 08:23 31 Jan 2024 GMT, First published: 10:29 27 Oct 2019 GMT

Snapshot

  • Inspired hits earnings targets while doubling ESG revenues
  • Inspired's new debt facility provides scope to grow - broker
  • Inspired PLC "has the opportunity to double EBITDA over the next five years"
Inspired Energy plc -

About the company

Inspired PLC is a technology-enabled service provider with a market-leading position in energy procurement, utility cost optimisation and sustainability enhancement in the UK and Ireland.

The company has three divisions: Inspired Energy, Inspired ESG and Inspired Software.

How it is doing

31 Jan 2024

AIM-listed energy-management company Inspired PLC (AIM:INSE) hit its targets in full-year 2023, with group revenues 11% higher year on year, reaching nearly £98.7 million.

This increase was partly attributed to a strategic shift in the product mix within the optimisation division, leading to a higher margin contribution.

Adjusted earnings surged 19% year on year to £25 million on a 25% margin, the company said in a trading update.

Despite higher interest rates impacting finance costs, Inspired's adjusted profit before tax remained in line with market projections, though an exact figure was not provided in the update.

14 Nov 2023

Inspired PLC (AIM:INSE) said it has renewed its revolving credit facility with its existing banks on broadly the same terms.

The new £60 million borrowing facility from Santander and Bank of Ireland (LSE:BKIR) has a three-year term and is the same size as that which it replaced, but with a £25 million accordion option.

11 Sep 2023

Inspired’s house broker has raised its underlying profit outlook for this year following what it said was excellent operating and strategic progress across all divisions in the first half.

“We expect strong organic progress to continue, especially in the rapidly developing Optimisation, ESG and Software divisions", said ShoreCap while Assurance is guided to return to growth in 2024.

What the brokers say

14 Nov 2023

Inspired’s new debt facility should give the energy consultant the firepower to keep growing, suggests broker Liberum.

If extension options are exercised, the facility runs until 2028 at £60m plus a £25m accordion.

Covenants are interest cover of not less than 4 times and adjusted Net Debt /EBITDA below 2.75 times, tapering to 2.0 times in the final year of the three-year term.

What management says

29 Mar 2023

Inspired PLC (AIM:INSE) chief executive Mark Dickinson speaks to Proactive after publishing the commercial energy and sustainability consultancy's final results for 2022.

Dickinson says that by extrapolating the growth seen over the five years to 2022, Inspired "has the opportunity to double [its] EBITDA over the next five years."

Inspired PLC "has the opportunity to double EBITDA over the next five years"

Inspired PLC (AIM:INSE) chief executive Mark Dickinson speaks to Proactive after publishing the commercial energy and sustainability consultancy's final results for 2022. Dickinson says that by extrapolating the growth seen over the five years to 2022, Inspired "has the opportunity to double...

on 29/3/23