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ENERGY ONE LIMITED — Capital/Financing Update 2021
Nov 30, 2021
64860_rns_2021-11-30_62920b1a-0c5c-4446-b7ac-ee7c260ca57b.pdf
Capital/Financing Update
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ABN 37 076 583 018 ASX EOL
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ASX Announcement
1[st] December 2021
Energy One Completes the Acquisition of Egssis NV (Belgium)
Energy One Limited (EOL) is pleased to advise it has completed the acquisition of Egssis NV, a company incorporated in Belgium.
EOL purchased Egssis for a total outlay of €4.25mil (approx. AUD $6.63mil at current exchange rates). This amount is to be paid in both cash and equity over an 18-month period. The initial payment comprises cash of €2.5mil and 212,833 EOL shares to the value of €0.75mil. The initial cash payment was funded using cash reserves and existing facilities. Future cash instalments will be funded from operating cash flow generated by the consolidated group.
In the year ending 30 June 2023, being the first full year following integration, EOL expects Egssis (pronounced “egg-sis”) to produce revenue of AUD $5.8mil and EBITDA of AUD $0.9mil (based on current exchange rates).
Egssis continues the expansion of EOL’s operations in Europe and expands EOL’s SaaS and services offerings in this important and high growth market. Egssis has around 30 staff and 58 customers with a product set that greatly enhances those of EOL’s existing European businesses Contigo Software and eZnergy. The acquisition of Egssis strengthens EOL’s ability to provide services on a 24*7 basis which is becoming increasingly important in a market moving to smaller renewable energy based generators. We welcome Tom and Jean-Francois to the European Leadership team, headed by Simon Wheeler our European CEO.
Further detail in respect of the Egssis acquisition and integration will be provided as part of the half year results announcement.
Shaun Ankers
Group Chief Executive Officer
For further information please contact
Guy Steel Chief Financial Officer & Company Secretary
E: [email protected] | P: +61 2 8916 2223 | www.energyone.com
Head Office
Head Office Postal Address Level 13, 77 Pacific Highway PO Box 6400 North Sydney NSW 2060 North Sydney NSW 2059
Contact Information
Telephone: + 61 2 8917 2200 Email: [email protected] Website: www.energyone.com