Financial highlights 2014• Total revenue increased 93% to £48.6m (2013:
£25.3m)• Organic growth 62%, driven by growth in
headcount and strong renewal rates
• Adj. EBITDA up 81% to £14.1m (2013: £7.8m).
• Adj. PBT up 76% to £13.1m (2013: £7.4m).
• Fully diluted adjusted EPS of 13.4p (2013: 8.5p).
• Total dividend of 4.0p for the year (2013: 2.6p).
• Increase in net cash to £9.8m (2013: £4.0m).
• Secured revenue of £28.2m up from £16.6m previous year.
2
Operational highlights
• 31% growth in customers across the Group in period.
• Established two divisions to serve single sites through to multi-national corporate clients.
• Continued growth in Energy Consultants headcount.
• Reorganisation of the plc board and establishment of an operational board.
• ICON acquisition provides a platform to expand our services into continental Europe.
• Move to new HQ in Newcastle.
3
Utilitywise
EMUClouds Aqua VeritasEIC
UtilitywiseCorporate
Utilitywise Enterprise
New Divisional Structure
4
PLC board
Non-executive Chairman
Richard Feigen
CEOGeoff Thompson
Deputy CEOAndrew Richardson
CFOJon Kempster
Non-executive Director
Paul Hailes
Non-executive Director
Tom Maxfield
Non-executive Director
Jeremy Middleton
5
Operational board
CEOGeoff Thompson
CFOJon Kempster
HR DirectorClaire Waterson
MD CorporateAshley Guise
MD EnterpriseAdam Thompson
Sales DirectorMichael Dent
Marketing DirectorNigel Hudson
Deputy CEOAndrew Richardson
6
Income Statement
£00012 months
ended July 2014
12 months ended
July 2013% Change
Revenue 48,642 25,256 93%
Gross profit 22,056 12,137 82%
Gross margin 45.3% 48.1% -2.8pts
Other operating income 328 143 129%
Admin expenses 8,223 4,463 84%
EBITDA* 14,161 7,817 81%
PBT** 13,058 7,411 76%
Earning per share# (FD) 13.4p 8.5p 58%
*Adjusted for share based payments of £0.7million (2013: £0.2million) and exceptional items relating to acquisition costs of £0.1million (2013: £0.8million), restructuring and reorganisation costs of £1.9million (2013: £nil), and exceptional credit of £2million (2013: £nil) relating to the release of contingent consideration.**As above but excluding amortisation relating to acquired intangibles of £931K (2013: £191K).#As above but including the tax impact of the above adjustments.
8
Like for like Comparison
*2013 as reported. 2014 restated on a like for like basis as follows: Utilitywise plc, ten-months of Clouds Environmental Consultancy, four-months of Aqua Veritas and one-month of EIC.
9
40,888
11,018
10,313
25,256
7,817
7,411
Revenue
Adjusted EBITDA
Adjusted PBT
Ended July 2013 Ended July 2014
+39%
+41%
+62%
2013
2013
2013
2014
2014
2014
EBITDA Bridge
6.3
3.6
0.2 (0.2)(0.4) (0.4)
(0.3) (0.2) (0.3) (0.4) (0.9)(0.6)
14.2
Adj. EBITDA2013
Gross profit - LfL Gross profit -acquisitions
Other operatingincome
Property Costs -LfL
Property costs -acquistion
Overheadstaffing and
recruitment - LfL
Overheadstaffing and
recruitment -acquistion
Travel,subsistance and
leasing - LfL
Travel,subsistance and
leasing -acquisition
Consultancy andprofessional fees
- LfL
Other admincosts - LfL
Other admincosts -
acquisition
Adj EBITDA 2014
7.8
10
Divisional Performance
£00012 months ended July
2014
UtilitywiseEnterprise
Utilitywise Corporate
Revenue 48,642 39,644 8,998
Gross profit 22,056 16,777 5,279
Gross profit percentage 45.3% 42.3% 58.7%
Other operating income 328 328 ----
Admin expenses 8,223 5,302 2,921
EBITDA* 14,161 11,655 2,506
Profit from operations** 13,431 11,323 2,108
PBT** 13,058 10,947 2,111
*Adjusted for share based payments of £0.7million (2013: £0.2million) and exceptional items relating to acquisition costs of £0.1million (2013: £0.8million), restructuring and reorganisation costs of £1.9million (2013: £nil), and exceptional credit of £2million (2013: £nil) relating to the release of contingent consideration.**As above but excluding amortisation relating to acquired intangibles of £931K (2013: £191K).
11
Balance Sheet£000
12 months endedJuly 2014
12 months endedJuly 2013Restated
Goodwill 14,851 14,282
Intangibles 7,075 6,944
Fixed assets 4,837 4,796
TOTAL NON-CURRENT ASSETS 26,763 26,022
Net accrued revenue 11,792 4,121
Stock 98 81
Trade and other receivables 5,572 4,392
Net cash and cash equivalents 9,823 4,015
TOTAL CURRENT AND NON-CURRENT ASSETS 54,048 38,631
TOTAL CURRENT AND NON-CURRENT LIABILITIES
(17,689) (13,320)
NET ASSETS 36,359 25,31112
Cash Flow Statement
£00012 months ended
July 2014
12 months ended
July 2013
Cash generated from operating activities pre-working
capital movements14,103 6,954 103%
Working capital movements (2,488) (4,049) -39%
Income taxes paid (1,910) (1,207) 394%
Net cash flow from operations 9,705 1,698 472%
Net cash used in investing activities (1,452) (9,480) -85%
Net cash generated (used) in financing activities (1436) 8,569 -117%
Net increase in cash and cash equivalents 6,817 787 766%
13
Multi-channel approach
15
Energy Consultants
BDM Team
Field Sales
Partner Channel
Direct marketing
to TPS data
Sector Specialist
Teams
Inbound Marketing
from internet
Utilitywise Enterprise
• Services small, medium and multi-site
opportunities.
• Fast sale cycle enabled by or in house CRM
system - Quantum.
• Historic engine of organic growth.
• Uses our well-established trading
arrangements with UK energy suppliers.
• Customer growth in period of 30%.
• Energy Consultants increase from 281 to 363
in period.
Major new
partnershipsBCC
South West Water
16
Utilitywise Enterprise KPIs
10,000
15,333
19,966
0
5,000
10,000
15,000
20,000
25,000
IPO 2012 Jul-13 Jul-14
Customer numbers
25,491
32,972
44,193
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
50,000
IPO 2012 Jul-13 Jul-14
Contracted meters99%
increase since IPO
30% increase in period
73% increase
since IPO
34% increase in period
17
Utilitywise EnterpriseRenewal rates
18
53
69
74
83
87
IPO Jul-12 Jan-13 Jan-14 Jul-14 Sep-14
Utilitywise Enterprise renewal rate (%)
Utilitywise Corporate
• Industrial & Commercial (I&C) focus.
• Consultative sales cycle.
• Delivers a broad array of products and services.
• Emphasis across the full service offering of Procure, Manage, Monitor, Reduce.
19
Utilitywise Corporate
• 342,601 monitoring points.
• Renewal rates
• Flexible procurement = 97.9%.
• Fixed procurement = 94%.
550
860
0
100
200
300
400
500
600
700
800
900
1,000
31-Jul-13 31-Jul-14
Customer numbers
56% increase
since acquisition
20
The Electricity Market Review opportunity
• Demand for energy increasing.
• Higher percentage of price made up of levies and other charges.
• Less and less of the price is made up of the actual wholesale cost of the energy.
• These price rises are unavoidable.
• Businesses must focus on using less grid power and reducing their overall consumption.
0
10
20
30
40
50
60
70
80
£/MWh
Wholesale NCC total21
Source: Utilitywise Corporate Market Intelligence Team
Energy Solutions
Fully funded bespoke turnkey utility management solution:
• Project managed by the Energy Solutions team.
• Long term relationship.
• A showcase for Utilitywise’s capability.
Milton Abbey case study
• Monitoring system installed.
• Insulation.
• Asbestos removal.
• Biomass boiler.
• Complete LED lighting retrofit including controls.
• Water harvesting.
• Oil hedging.
• Electricity procurement.
• Sourced project financing.
22
Icon
A base for European expansion
• Retain core underlying contact centre business
• Energy markets serviced:• France, Germany, Belgium and Netherlands
23
New headquarters
• Provides scope for further expansion.
• 4.5 year rent free.
• 15 year lease.
• £2 million reverse lease premium.
24
Summary and outlook
The energy price is not the complete picture.
The future belongs to the company that
offers a complete service that encompasses
procurement, management, control,
reduction and on-site generation.
• Organic growth is main focus:
• New building move will complete in H1.
• More EU growth.
• Acquisitions that enhance the proposition are still a key focus.
• Further product development:
• Energy Alliance.
• UWCore.
• Online Energy Audit.
• Market opportunity:
• ESOS.
• Water market deregulation.
• Trading for the year to date remains in line with our expectations.
25