Gresham House Energy Storage (LON:GRID) Issues Earnings Results

Key Points

• Gresham House reports a strong operational and financial recovery in 2025 with capacity above 1 GW, revenues up ~30% to ~£60m, EBITDA up ~33% to ~£38.8m, and a ~70% share-price recovery during the year.
• Management materially de‑risked the business by increasing contracted revenue from ~25% to ~39% and closing an upsized £220m amortising debt facility at lower rates to fund augmentations and new project financing.
• Growth is being driven by augmentations and duration upgrades (≈330 MWh added in 2024–25 and ≈350 MWh targeted in 2026 to push the portfolio toward ~2 hours), but a NAV haircut from lower revenue-curve revisions and NESO connection delays are delaying cash flows and keeping the stock at a discount to NAV.

Gresham House Energy Storage (LON:GRID - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported GBX (1.15) earnings per share (EPS) for the quarter, Digital Look Earnings reports. Gresham House Energy Storage had a net margin of 123.62% and a negative return on equity of 1.34%. The firm had revenue of GBX 71 million during the quarter.

Here are the key takeaways from Gresham House Energy Storage's conference call:

• Gresham House reports a strong operational and financial recovery in 2025 with capacity > 1 GW, revenues up ~30% to ~£60m, EBITDA up ~33% to ~38.8m, and a share-price recovery of ~70% during the year.
• Management materially de‑risked the business by increasing contracted revenue (from ~25% to ~39%) and closing an upsized £220m amortising debt facility at lower rates, enabling augmentations and new project financing.
• Augmentations and duration upgrades are a core growth driver: ~330 MWh added in 2024–25, ~350 MWh targeted in 2026 to push the portfolio average toward ~2 hours duration, which should raise revenue per MW and long‑term EBITDA.
• NAV was pressured in Q4 by third‑party downward revisions to revenue curves (a £0.16 haircut), and NESO connection delays for parts of the pipeline are pushing back cash flows — contributing to a persistent discount of the share price to NAV.

Gresham House Energy Storage Stock Performance

Shares of GRID stock opened at GBX 74.95 on Tuesday. Gresham House Energy Storage has a one year low of GBX 62.40 and a one year high of GBX 83.30. The company's 50-day simple moving average is GBX 74.03 and its 200-day simple moving average is GBX 75.32. The stock has a market capitalization of £426.51 million, a price-to-earnings ratio of -53.16 and a beta of 0.01.

Insider Transactions at Gresham House Energy Storage

In other news, insider John Leggate sold 111,341 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of GBX 75, for a total transaction of £83,505.75. Also, insider Duncan Neale sold 13,500 shares of the stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of GBX 75, for a total transaction of £10,125. Corporate insiders own 0.09% of the company's stock.

Gresham House Energy Storage Company Profile

Gresham House Energy Storage Fund plc (GRID or the Fund) seeks to capitalise on the growing intraday supply and demand imbalances caused by Great Britain's ever increasing reliance on renewable energy. The Fund aims to provide investors with an attractive and sustainable dividend by investing in a portfolio of utility-scale Battery Energy Storage Systems (BESS) located in Great Britain, which primarily use batteries to import and export power, accessing multiple revenue sources available in the power market. Gresham House Asset Management Limited (GHAM), is the investment Manager for Gresham House Energy Storage Fund plc.

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