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(Sharecast News) - eEnergy cut its full-year guidance on Monday after a review of its sales pipeline, although the company said first-half revenue and adjusted EBITDA were expected to rise year-on-year.
The AIM-traded energy services group said investment-grade opportunities now stood at 66m, which the board said more fairly reflected live opportunities that could convert into revenue in the short to medium term.
It said it now expects 2026 revenue of about 32.0m, down from previous guidance of 38.0m, and adjusted EBITDA of 1.7m, reduced from 4.5m.
The company said interim chief executive John Gahan had started a restructuring and cost-saving programme expected to cut annual operating costs by almost a third and deliver annualised savings of about 2.0m.
First-half revenue is expected to be around 22.0m, up from 10.1m a year earlier, with adjusted EBITDA of about 1.2m.
At 1031 BST, shares in eEnergy Group were down 33.33% at 3.4p.
Reporting by Josh White for Sharecast.com.
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