Skip to main content
  • Register
  • Help
  • Contact us

Calisen narrows FY pre-tax losses on improved revenues

Tue 02 March 2021 09:36 | A A A

No recommendation

No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.

(Sharecast News) - Energy company Calisen said on Tuesday that pre-tax losses had narrowed in 2020 thanks to some solid revenue growth.

Pre-tax losses improved 79.1% to £17.2m on the back of an 18.8% jump in revenues to £248.1m driven by a growth of 800,000 revenue-generating smart meters in 2020.

Underlying earnings increased 8% to £187.9m, while funds from operations grew 14.5% to £155.6m.

Calisen stated that while Covid-19 had delayed smart meter installations in 2020, the pandemic had not changed its expected total portfolio figure for the roll-out of 13.2m.

Chief executive Bert Pijls said: "We have substantial embedded growth in our meter pipeline, which has been contracted but not yet implemented, and there are exciting longer-term opportunities internationally and in adjacent asset classes, most immediately in EV charging.

"Overall, we remain well placed to achieve our purpose of accelerating the development of a cleaner, more efficient and sustainable energy segment."

As of 0935 GMT, Calisen shares were down 0.077% at 260.70p.

    The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.


    More company news from ShareCast