The energy digitization business segment enabled Energisme to brave the volatility of the markets to launch on July 6th, their initial public offering on Euronext Growth in Paris.
The company, which offers a software solution to improve the energy performance of companies, intends to raise approximately 8 million euros through a firm price offer at 4.65 euros per share. More than 85% of this total amount is already secured in the form of subscription commitments from around ten institutional investors. The subscription period ends on July 16th for the public offering and the global placement, the start of share trading is expected on July 22nd. At the end of the transaction, the first six current shareholders, including its key executives, will retain majority control of the business.
“Created in 2004, the company was initially active in remote meter reading, before reorienting itself at the end of 2015 towards the management of energy data from buildings, industries, and energy players thanks to the implementation of a high-tech software platform,” explains Thierry Chambon, CEO of Energisme. “This platform makes it possible to collect and process all the data related to the flows of electricity, gas, water and heating networks generated by its client companies,” said the director.
Between 2016 and 2019, the company raised a total of 16 million euros from dozens of individual investors. These funds were used to build this platform in SaaS (software as a service) model, which provides it with recurring revenues (initial contracts of 3 to 5 years, subscriptions, and high loyalty) while avoiding costly industrial investments for customers. With its main R&D expenses now made, the product of this IPO (initial public offering) will be used up to 75% to strengthen the company’s commercial development, especially abroad (Italy, Spain, Germany and the United Kingdom ). The balance will be used to finance his working capital requirement.
Established with 114 significant accounts, including Suez, Axima, Sodexo, Legrand, Spie, Veolia, Colas, Total Lubrifiants, Energisme intervenes, in real-time, for all types of energy: water, gas, steam, electricity. The company had 102 employees at the end of May, 85% of them engineers. It already has a network of partners who offer its white label solution. “In addition to the additional revenue expected from our customer base, our indirect sales network now in place provides us with considerable development potential and, thanks to our SaaS subscription model, we have solid visibility on our growth future”, says Thierry Chambon.
For the current financial year, it forecasts a turnover exceeding 4 million without providing any indication of its result. According to analysts at Euroland Corporate, consulting and listing sponsor of the company alongside Mainfirst, its net profit should be almost at equilibrium in 2021. By 2022, they expect a profit of 2 million euros for a turnover of 16.2 million and attribute to the company a pre-money valuation of 20.2 million euros after a classic IPO discount of 15%.
With information from http://www.agefi-quotidien.fr/