OVO GROUP LTD
Operating as a privately owned subsidiary of Energy Transition Holdings Ltd, the group supplies gas, electricity, and home decarbonisation technology under brands including OVO Energy, SSE, Boost, and Spark Energy, alongside providing utility software through its Kaluza division.
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Cash
£248m
-19.2% lowest in 4 filed years
Net assets
£81m
+133.1% highest in 4 filed years
Employees
4,304
-14.9% lowest in 4 filed years
Profit before tax
£121m
+172.9% first positive since 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
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Material uncertainty over going concern
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 the Company will be able to continue in operation and meet their commitments as they fall due over the period to 30 September 2027 (the going concern assessment period). In the event the disposal does not take place, the Directors are confident the Group and the Company will be able to continue to operate on a standalone basis.
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3 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
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Going-concern uncertainty disclosed
Net assets
4-year trend · vs Consumer Discretionary median
Accounts
4-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2022-12-31 | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|---|
| Turnover | £6,712,000,000 | £8,795,000,000 | £5,530,000,000 | £5,156,000,000 | -6.8% | |
| Operating profit | -£1,578,000,000 | £1,015,000,000 | -£40,000,000 | -£10,000,000 | +75% | |
| Profit before tax | -£1,651,000,000 | £1,045,000,000 | -£166,000,000 | £121,000,000 | +172.9% | |
| Net profit | -£1,274,000,000 | £802,000,000 | — | — | — | |
| Cash | £469,000,000 | £557,000,000 | £307,000,000 | £248,000,000 | -19.2% | |
| Total assets less current liabilities | £166,000,000 | £822,000,000 | £905,000,000 | £983,000,000 | +8.6% | |
| Net assets | -£1,202,000,000 | -£397,000,000 | -£245,000,000 | £81,000,000 | +133.1% | |
| Equity | -£1,202,000,000 | -£397,000,000 | -£245,000,000 | £81,000,000 | +133.1% | |
| Average employees | 5,259 | 4,992 | 5,059 | 4,304 | -14.9% | |
| Wages | £252,000,000 | £250,000,000 | £260,000,000 | £218,000,000 | -16.2% | |
| Directors' remuneration | £2,769,000 | £1,392,000 | £2,410,000 | £2,745,000 | +13.9% | |
| Directors' pension contributions | £25,000 | — | £18,000 | £25,000 | +38.9% | |
| Highest paid director | £1,609,000 | £622,000 | £904,000 | £1,249,000 | +38.2% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2022-12-31 | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|---|
| Operating margin | -23.5% | 11.5% | -0.7% | -0.2% | |
| Net margin | -19.0% | 9.1% | — | — | |
| Return on capital employed | -950.6% | 123.5% | -4.4% | -1.0% | |
| Gearing (liabilities / total assets) | 143.5% | 118.2% | 113.4% | 95.8% | |
| Current ratio | 0.49x | 1.06x | 1.22x | 1.25x | |
| Interest cover | -20.23x | 11.67x | -0.45x | -0.83x |
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
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“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 the Company will be able to continue in operation and meet their commitments as they fall due over the period to 30 September 2027 (the going concern assessment period). In the event the disposal does not take place, the Directors are confident the Group and the Company will be able to continue to operate on a standalone basis.”
Group structure
- OVO GROUP LTD · parent
- OVO Energy Ltd 100%
- OVO Electricity Ltd 100%
- OVO Gas Ltd 100%
- OVO Brand Ltd 100%
- OVO Field Force Ltd 100%
- OVO Home Services Ltd 100%
- OVO Insurance Services Ltd 100%
- OVO (S) Energy Services Limited 100%
- OVO (S) Electricity Dormant Limited 100%
- OVO Solar and Heating Ltd 100%
- OVO (S) Energy Solutions Limited 100%
- Bonnet Ltd 100%
Significant events
- “On 11 May 2026, the Group announced that it had agreed to sell the OVO Energy retail business to E.ON. The UK energy retail business consists of OVO Energy Ltd, a subsidiary of the Company, and its subsidiaries. The sale is subject to regulatory approvals and is expected to complete in the second half of 2026.”
- “Also on 11 May 2026, the Group announced that it had agreed to sell the its home services business to Hometree. The home services business consists of OVO Home Services Ltd and OVO Insurance Services Ltd, subsidiaries of the Company, and the boiler, central heating and electrical wiring and heating. The sale is subject to regulatory approvals and is expected to complete in the summer of 2026.”
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 94 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 | |
|---|---|---|---|---|
| 2026-09-04 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-09-04 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-09-04 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-09-04 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-09-04 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-09-01 | MR04 | mortgage | Mortgage satisfy charge part | |
| 2026-09-01 | MR05 | mortgage | Mortgage charge part both with charge number | |
| 2026-09-01 | MR04 | mortgage | Mortgage satisfy charge part | |
| 2026-09-01 | MR05 | mortgage | Mortgage charge part both with charge number | |
| 2026-09-01 | MR05 | mortgage | Mortgage charge part both with charge number | |
| 2026-09-01 | MR04 | mortgage | Mortgage satisfy charge part | |
| 2026-09-01 | MR04 | mortgage | Mortgage satisfy charge part | |
| 2026-09-01 | MR05 | mortgage | Mortgage charge part both with charge number | |
| 2026-09-01 | MR04 | mortgage | Mortgage satisfy charge part | |
| 2026-08-19 | AA | accounts | Accounts with accounts type group | |
| 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 |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 20
- Capital events
- 0
- 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.