eEnergy has released a Pre-Close Trading Update for the six-month period to 31 December 2020. During an exceptional second half of the calendar year, revenues for eLight increased by 235%, underpinned by organic growth of 125%, having completed 111 projects (up 95% on the comparable period).
Significantly also, the average contract value of each project was 50% higher year-on-year. In particular, the Group enjoyed strong growth within the UK academy and state schools sector as well as entry into new markets, including Northern Ireland. The successful integration of Renewable Solutions Lighting Ltd (‘RSL’) reduced the division’s unit costs and improved pricing to its clients.
Taking advantage of its exclusive OEM partnership with Venture Lighting Europe Limited (‘Venture Lighting’), more competitive overall technology pricing resulted in eLight’s gross margin lifting by more than 400 bps on the same time last year.
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