1KOMMA5° has more than doubled its revenue to around EUR 460 million in 2023 compared to EUR 206 million in 2022
Highly profitable: profit (EBIT) also more than doubled to almost EUR 50 million in 2023 compared to EUR 19 million in 2022
Profitability achieved despite investing a double-digit million Euro sum in own products and software
To date, 1KOMMA5° has installed more than 170,000 solar systems, heat pumps, home batteries and charging stations for customers
HAMBURG, Germany, 17 January 2024 – 1KOMMA5°, the leading European platform operator for CO2-neutral energy solutions such as solar systems, heat pumps and EV charging wallboxes, today announced its preliminary business figures for 2023. Revenue more than doubled by 122% to around 460 million euros in 2023 compared to 206 million euros in 2022. In addition, the Hamburg-based cleantech startup remains highly profitable in its second full financial year despite investing a double-digit million Euro sum in its own products and software. Operational profit (EBIT) more than doubled from 19 to almost 50 million euros in one year.
"We will use 100% of this amount for the further development of our products and software and not for profit withdrawals. Our customers therefore make a decisive contribution to achieving our mission of climate-neutral power generation, heat and mobility," explains Philipp Schröder, CEO and co-founder of 1KOMMA5°. To date, 1KOMMA5° has installed more than 170,000 solar systems, heat pumps, home batteries and charging stations for customers.
"In the last two years, we have grown by a factor of 20, have been able to constantly increase our turnover and profit and are highly profitable and bankable just 2.5 years after the company was founded," says Philipp Schröder. "To date, we have installed more than 170,000 energy systems for customers. Around 10,000 of the systems are connected to our Heartbeat software and thus directly linked with the electricity market in their own balancing group. This software and licensing business offers enormous growth potential and we want to increase the number of connected systems to around 40,000 in 2024."
By using Heartbeat, 1KOMMA5° guarantees customers 60% cheaper electricity than any other supplier for the operation of heat pumps, electricity storage systems and electric cars. At the end of 2024, 1KOMMA5° plans to open the Heartbeat platform to all customers owning compatible heat pumps, storage units or wallboxes - regardless of where they were purchased.
In 2024, 1KOMMA5° expects to increase its revenue to between 700 and 750 million euros. Operational profit (EBIT) is expected to rise to more than 70 million euros with a stable margin. The aim is to achieve an annual revenue of 10 billion euros from hardware and software sales in 2030. Since its foundation, the company has raised 340 million euros in equity,a financing line of up to 52.5 million euros and was debt-free by the end of 2023.
For further press information and images visit 1k5.link/press-kit.
1KOMMA5° is the provider of the "Heartbeat" energy software platform and creates a virtual power plant that pools and connects customers' photovoltaics, electricity storage, heat pumps and charge points to the energy markets to increase the profitability of connected energy systems. The company also offers customers a one-stop-shop for the purchase and installation of individual and intelligent energy system solutions. To accelerate international growth, the cleantech startup acquires leading companies in the electrical sector with a particular focus on photovoltaic systems, charging infrastructure and heat pumps, and in return offers the entrepreneurs the use of its own software solutions, centralized services, bundled purchasing, growth capital and a reverse shareholding in 1KOMMA5° Holding. The aim is to develop a Europe-wide, market-leading hard- and software platform, that is capable of converting 500,000 buildings per year to climate-neutral power generation, heat and mobility. Currently, 1KOMMA5° operates more than 72 sites with around 1,900 employees in Germany, Sweden, Finland, Denmark, Spain, Netherlands and Australia.