OVO GROUP LTD
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-11-11 (in 6mo)
Last made up 2025-10-28
Watchouts
Cash
£307M
-44.9% vs 2023
Net assets
-£245M
+38.3% vs 2023
Employees
5,059
+1.3% vs 2023
Profit before tax
-£166M
-115.9% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
3 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
Net assets
2-year trend · vs Consumer Discretionary median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | £8,795,000,000 | £5,530,000,000 | |
| Operating profit | £1,015,000,000 | -£104,000,000 | |
| Profit before tax | £1,045,000,000 | -£166,000,000 | |
| Net profit | £802,000,000 | -£132,000,000 | |
| Cash | £557,000,000 | £307,000,000 | |
| Total assets less current liabilities | £822,000,000 | £705,000,000 | |
| Net assets | -£397,000,000 | -£245,000,000 | |
| Equity | -£397,000,000 | -£245,000,000 | |
| Average employees | 4,992 | 5,059 | |
| Wages | £250,000,000 | £260,000,000 | |
| Directors' remuneration | £1,392,000 | £2,410,000 |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers
Year-on-year
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
-37.1%
£8,795,000,000 £5,530,000,000
-
Cash
-44.9%
£557,000,000 £307,000,000
-
Net assets
+38.3%
-£397,000,000 -£245,000,000
-
Employees
+1.3%
4,992 5,059
-
Operating profit
-110.2%
£1,015,000,000 -£104,000,000
-
Profit before tax
-115.9%
£1,045,000,000 -£166,000,000
-
Wages
+4%
£250,000,000 £260,000,000
Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | 11.5% | -1.9% | |
| Net margin | 9.1% | -2.4% | |
| Return on capital employed | 123.5% | -14.8% | |
| Gearing (liabilities / total assets) | 118.2% | 113.4% | |
| Current ratio | 1.06x | 1.28x | |
| Interest cover | 11.67x | -1.18x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Name history
Renamed 2 times since incorporation
- OVO GROUP LTD 2026-02-27 → present
- OVO FINANCE LTD 2019-09-19 → 2026-02-27
- LILIBET FINANCE LTD 2017-04-12 → 2019-09-19
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Consolidated group
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The financial statements have been prepared on the going concern basis as the Directors have assessed that there is a reasonable expectation that the Group and Company will be able to continue in operation and meet their commitments as they fall due over the going concern period, which the Directors have assessed to be the period up to 30 September 2026 (the going concern period).”
Group structure
- OVO GROUP LTD · parent
- OVO Energy Ltd 100%
- OVO Electricity Ltd 100%
- OVO Gas Ltd 100%
- OVO Field Force Ltd 100%
- Corgi Homeplan Ltd 100%
- OVO Insurance Services Ltd. 100%
- Spark Gas Shipping Ltd 100%
- Kaluza Ltd 84.79%
- Kaluza (US) LLC 100%
- Kaluza Pty Ltd 100%
- OVO (S) Energy Services Limited 100%
- OVO (S) Electricity Limited 100%
- OVO (S) Gas Limited 100%
- OVO (S) Energy Solutions Limited 100%
- OVO (S) Home Services Limited 0%
- Bonnet Ltd 100%
Significant events
- “On 14 January 2025, the Group repaid the outstanding balance in respect of the £300m term loan facility and the £100m second lien loan facility.”
- “Subsequently OVO Holdings Ltd, the Company's immediate parent, injected £50m capital into the Group by way of subscription for new shares issued by the Company.”
- “The Company then subscribed for 500m £0.01 new ordinary shares issued by OVO Energy Ltd for £50m.”
- “On the sale of SSE Energy Transition Holdings Ltd, the Company's ultimate parent, issued 150 million £1 preference shares to Stephen Fitzpatrick in consideration for the acquisition of the entire share capital of OVO Brand Ltd (previously Imagination Industries Ltd).”
- “Energy Transition Holdings Ltd subsequently undertook a series of internal corporate restructuring transactions which resulted in OVO Brand Ltd being transferred to OVO Holdings Ltd, a subsidiary of the Company.”
- “On 14 January 2025, the entire shareholding in Kaluza Ltd, a subsidiary of the Company, was sold to OVO Holdings Ltd, the Company's parent, for consideration of £185m.”
- “Subsequently, OVO Finance Ltd subscribed for 1.85bn £0.01 new ordinary shares in OVO Energy Ltd settled via intercompany account.”
- “The Group, being OVO Electricity Ltd and OVO Gas Ltd, fall within the Intermediate Position under Ofgem's Capital Adequacy framework from 31 March 2025.”
- “On 29 April 2025, the Group announced a redundancy programme to reduce the number of roles across the Group in 2025.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
8 active · 12 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| CASEY, Vincent Francis | Director | 2017-04-12 | Feb 1983 | British |
| COX, Jonson | Director | 2020-08-05 | Oct 1956 | British |
| DASGUPTA, Kunal | Director | 2026-02-18 | Jul 1976 | British |
| FITZPATRICK, Stephen James | Director | 2026-02-18 | Sep 1977 | British |
| GADHIA, Jayne-Anne, Dame | Director | 2026-02-18 | Oct 1961 | British |
| HOUGHTON, Christopher Paul | Director | 2025-11-21 | Dec 1978 | British |
| ISHIBASHI, Takashi | Director | 2026-03-16 | Oct 1980 | Japanese |
| SASAKI, Daniel William | Director | 2026-02-18 | Jul 1963 | British |
Show 12 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BHATIA, Raman | Director | 2021-01-18 | 2024-05-31 |
| BLAKE, Ben | Director | 2021-01-18 | 2021-11-30 |
| BUTTRESS, David | Director | 2024-05-31 | 2025-12-01 |
| CARTWRIGHT, Stacey Lee | Director | 2020-04-06 | 2021-07-19 |
| CASTELL, William Thomas | Director | 2021-01-18 | 2022-01-10 |
| DAVIES, James Russell | Director | 2024-12-13 | 2026-01-16 |
| FITZPATRICK, Stephen James | Director | 2017-04-12 | 2021-01-18 |
| HOUGHTON, Christopher Paul | Director | 2020-03-10 | 2021-08-31 |
| KEELING, Anthony Edward | Director | 2021-03-01 | 2021-08-31 |
| LETTS, Adrian James | Director | 2019-01-07 | 2022-03-01 |
| MUROMOTO, Go | Director | 2026-02-18 | 2026-03-16 |
| MURPHY, Stephen Thomas | Director | 2021-07-19 | 2024-03-01 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Ovo Holdings Ltd | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2017-04-12 | Active |
Filing timeline
Last 20 of 79 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-02-27 CERTNM Certificate change of name company
- 2026-02-27 CONNOT Change of name notice
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-23 | AP01 | officers | Appoint person director company with name date | |
| 2026-03-19 | TM01 | officers | Termination director company with name termination date | |
| 2026-02-27 | CERTNM | change-of-name | Certificate change of name company | |
| 2026-02-27 | CONNOT | change-of-name | Change of name notice | |
| 2026-02-23 | AP01 | officers | Appoint person director company with name date | |
| 2026-02-20 | AP01 | officers | Appoint person director company with name date | |
| 2026-02-19 | AP01 | officers | Appoint person director company with name date | |
| 2026-02-19 | AP01 | officers | Appoint person director company with name date | |
| 2026-02-19 | AP01 | officers | Appoint person director company with name date | |
| 2026-02-16 | AD01 | address | Change registered office address company with date old address new address | |
| 2026-01-21 | TM01 | officers | Termination director company with name termination date | |
| 2025-12-15 | TM01 | officers | Termination director company with name termination date | |
| 2025-11-21 | AP01 | officers | Appoint person director company with name date | |
| 2025-11-10 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-09-30 | AA | accounts | Accounts with accounts type group | |
| 2025-01-27 | SH01 | capital | Capital allotment shares | |
| 2025-01-27 | MR05 | mortgage | Mortgage charge part both with charge number | |
| 2025-01-27 | MR05 | mortgage | Mortgage charge part both with charge number | |
| 2025-01-27 | MR05 | mortgage | Mortgage charge part both with charge number | |
| 2025-01-27 | MR05 | mortgage | Mortgage charge part both with charge number |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 15
- Capital events
- 1
- Officers appointed
- 6
- Officers resigned
- 3
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.