OVO Energy

OVO started as an idea around the kitchen table. A couple of friends listing what they wanted from their energy supplier, but weren’t getting. Things like fair pricing. Great service. Clear and simple information. Technology to make managing your energy easier. And above all, honesty and openness. Six years and 500,000 happy customers later, we’re proud of what we’ve achieved. But there’s plenty more to be done. We may have outgrown the kitchen table. But we’re still working to make energy as effortless, simple and inexpensive as possible.
Company Growth (employees)
Type
Private
HQ
Bristol, GB
Founded
2009
Size (employees)
636 (est)
OVO Energy was founded in 2009 and is headquartered in Bristol, GB

OVO Energy Office Locations

OVO Energy has an office in Bristol
Bristol, GB (HQ)
Temple Quay 3 Temple Back E

OVO Energy Data and Metrics

Summary Metrics

Founding Date

2009

OVO Energy Financial Metrics

OVO Energy's revenue was reported to be £512.4 m in FY, 2015 which is a 60% increase from the previous period.
GBP

Revenue (FY, 2015)

512.4 m

Revenue growth (FY, 2014 - FY, 2015), %

60%

Gross profit (FY, 2015)

44.2 m

Gross profit margin (FY, 2015), %

9%

Net income (FY, 2015)

(30.1 m)

Cash (31-Dec-2015)

45.7 m
GBPFY, 2013FY, 2014FY, 2015

Revenue

171.7 m319.3 m512.4 m

Revenue growth, %

86%60%

Cost of goods sold

153.1 m295.4 m468.2 m

Gross profit

18.6 m23.9 m44.2 m

Gross profit Margin, %

11%7%9%

Operating expense total

18.7 m57 m79 m

Pre tax profit

(81 k)(35.7 m)(34.1 m)

Net Income

(260 k)(28.4 m)(30.1 m)
GBPFY, 2013FY, 2014FY, 2015

Cash

8.4 m29.6 m45.7 m

Accounts Receivable

5.2 m17.9 m24 m

Current Assets

27.3 m73.6 m81 m

PP&E

2.3 m14 m16.9 m

Goodwill

1.9 m5.6 m8.1 m

Total Assets

31.4 m93.1 m106 m

Accounts Payable

2.8 m11.8 m29.2 m

Current Liabilities

39.4 m129.4 m172.1 m

Total Liabilities

39.4 m129.4 m172.1 m

Retained Earnings

(260 k)(28.4 m)(30.1 m)

Total Equity

(8 m)(36.2 m)(66 m)

Financial Leverage

-3.9 x-2.6 x-1.6 x
GBPFY, 2013FY, 2014FY, 2015

Cash From Operating Activities

8.3 m34.9 m23.1 m

Cash From Financing Activities

(25 k)(3.5 m)

Income Taxes Paid

(179 k)7.3 m4 m
Y, 2015

Financial Leverage

-1.6 x

Traffic Overview of OVO Energy

OVO Energy Online and Social Media Presence

OVO Energy News and Updates

Three challenger energy firms have come out in favour of a new price cap

  A trio of challengers to the Big Six energy firms have come out in favour of new pricing restrictions as parliament debates market reform. The House of Commons will spend six hours debating the energy market today, with a former Tory minister leading the calls for an intervention. Ex-cabi…

First Utility shakes up board as it kicks back IPO plans

The UK's biggest energy challenger First Utility is reportedly shaking up its board as it delays plans to go public. It comes after a disappointing outcome of a competition investigation into the Big Six energy suppliers. First Utility will announce tomorrow that current chairman, Dr John Robe…

Ovo Energy makes first profit as smart meter push pays off

Independent energy supplier Ovo made a pre-tax profit for the first time in its seven-year history, helped by improved customer tenure and as "being a first mover with smart meters paid off". The company said today that its pre-tax profit hit £30.4m in the six months to 30 June, up from a loss of…

The UK's "disappointing" energy suppliers are getting worse

The difference between the UK's best and worst energy suppliers is becoming more pronounced, according to Citizens Advice. When it comes to dealing with customer complaints, the best performing supplier, SSE, was 80 times better than the worst, Extra Energy. The quarterly results are calculate…
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OVO Energy Company Life and Culture

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