**Summary**
Earnz PLC, an energy services company focused on global decarbonisation, reported its final results for the year ended 31 December 2025. Key highlights include
**Financial Performance** Revenue increased significantly to ยฃ11.8 million (FY25: ยฃ2.6 million), driven by acquisitions and organic growth. Adjusted EBITDA turned positive at ยฃ0.1 million (FY25: ยฃ1.0 million loss), despite higher central support costs. Loss before tax narrowed to ยฃ1.7 million (FY24: ยฃ3.6 million). Net debt stood at ยฃ1.2 million (FY24: net cash ยฃ0.3 million).
**Operational Achievements** The company completed several strategic acquisitions, including A&D Carbon Solutions Limited, Zero Carbon Group Limited, and formed new entities like Warm Low Living and National Retrofit Solutions Limited. These moves expanded its service offerings and geographical reach. Significant contract wins were announced with Equans and Fortem, enhancing its market position.
**Strategic Progress** Earnz PLC advanced its buy-and-build strategy, consolidating its position in the fragmented energy services sector. The company strengthened its central support teams and Board, appointing Peter Smith as CEO. It also developed a strong pipeline of acquisition targets and organic growth opportunities.
**Outlook** The company expects continued momentum with further contract wins and a strong pipeline of opportunities. It remains focused on growth through acquisitions and organic expansion, with the Board confident in the outlook for FY26.
**Corporate Governance** The company adheres to the QCA Corporate Governance Code, emphasizing ethical values, stakeholder engagement, and effective risk management. The Board was strengthened with new appointments, ensuring a balanced and experienced team.
**Financial Review** Gross profit improved significantly to ยฃ3.1 million (FY24: ยฃ0.3 million), driven by better cost control and project management. Finance costs increased due to higher borrowing and lease liabilities. The company raised additional capital through share placements to fund acquisitions and growth.
**Risk Management** Key risks include global economic uncertainty, working capital constraints, and integration challenges from acquisitions. Mitigation strategies include diversification, strong cash flow management, and robust internal controls.
**Post-Year Events** The acquisition of Zero Carbon Group Limited for ยฃ9.5 million was completed post-year-end, further enhancing the companys scale and capabilities in the North of England.
Overall, Earnz PLC demonstrated significant progress in its strategic objectives, positioning itself for sustained growth in the energy services sector through a combination of acquisitions, organic expansion, and operational excellence.
Here is the comparison of financials and debt year on year in an HTML table format:
This table provides a clear comparison of key financial metrics between 2024 and 2025, highlighting the significant improvements in revenue, EBITDA, and loss before tax, as well as the increase in net debt due to acquisition activities and lease obligations.