Investment case
Why invest?
A compelling growth opportunity for investors
By prioritising the lifetime value of our clients, we have successfully achieved double-digit growth. Investing in long-term client relationships has been key to our success. We believe in delivering exceptional value and service to our clients, and in return, they continue to support us year after year.
Strong macro-drivers
Competitive advantage
Technology-enabled service
Ambitious with a strong growth engine
Strong macro-drivers
- Any business that spends more than £100,000 on energy and water annually can be our potential customer.
- Companies are facing an increase in regulatory obligations, particularly on ESG, which creates potential customers for us.
- In a highly fragmented market, there is a market opportunity worth £2.4 billion.
- The energy crisis has made energy a critical topic for Boards, increasing demand for our services.
- We are a business that provides a pathway to the £138bn opportunity to deliver net-zero between 2024 and 2050
- Our strong sales pipeline underpins our position as the market leader in providing solutions at a market-leading price point.
Competitive advantage
- We support over 3,500 businesses in reducing energy costs and achieving net-zero targets.
- Our team of experts can effectively manage the four essential client challenges: cost, carbon, consumption and compliance, empowering our clients to make informed decisions about energy and the environment.
- Our leading ESG disclosure service addresses UK businesses’ climate change challenges at a leading price point.
- We offer comprehensive, end-to-end solutions for energy and ESG. We gather and analyse our clients’ data to recommend and implement solutions that help them achieve net-zero emissions, earning trusted advisor status among C-Suite Executives.
- Our solution-agnostic approach has made us the leading player in the market.
- Our commitment to the environment and clients was recognised when we received the London Stock Exchange Green Economy Mark in November 2020.
Technology-enabled service
- We own the proprietary software that underpins our service.
- We process millions of pieces of client data with respect to cost, consumption and carbon every month.
- We monetise this technology on a SaaS basis with other market participants, extracting revenues from parts of the market we wouldn’t usually have access to.
- By providing technology to our competitors, we professionalise our M&A pipeline and simplify the integration costs when we acquire a business already utilising our backbone.
- We provide disclosures and information which allow our clients to meet their regulatory and legal obligations and have a baseline for making decisions with respect to energy and the environment.
Ambitious with a strong growth engine
- From 2017 to 2022, we have pursued a strategy of growth through acquisition, which facilitated our transformation into a full-suite sustainability service provider capable of delivering double-digit organic growth into the future.
- Post this transformation, FY23 saw the delivery of 19% Adj. EBITDA growth as we realised our strategic potential.
- Our FY24 business continues the execution of or our strategic organic growth plan aiming for a 10% increase in Adj EBITDA growth as we prioritise building client lifetime value (CLV), supported by our multi-decade client relationships.
“The secular market tailwinds are now well established, as the business represents a pure play investment on the exciting macro ESG and net-zero themes, providing a significant opportunity for the Group to grow and capture a larger market share.”
Mark Dickinson, Chief Executive Officer