Energy Transition Finance 2 Ltd
Registered name: ENERGY TRANSITION FINANCE 2 LTD
Part of Energy Transition Holdings Ltd groupEnergy Transition Finance 2 Ltd made £5.2bn revenue and £125m profit in the year to 31 Dec 2025.
Energy Transition Finance 2 Ltd’s revenue fell 7% to £5.2bn in the year to 31 Dec 2025, with £125m profit and 4,304 employees. The company is classified under “other retail sale not in stores, stalls or markets” and is based in London; we hold 3 years of its filed accounts.
- Status
- Active
- Location
- London, South West
- Age
- 9 yrs · since 2017
- Type
- Private Limited Company
Part of a group. The filing indicates this company sits within a group structure, so its results may depend on intra-group trading and it may be hard to replicate independently.
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 31 Dec 2023 | 31 Dec 2024 | 31 Dec 2025 |
|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L |
| Profit & loss | |||
| Revenue (turnover) | £8.7bn | £5.5bn | £5.2bn |
| Cost of sales | −£7.7bn | −£4.7bn | −£4.5bn |
| Gross profit | £1bn | £809m | £674m |
| Operating profit | £1.1bn | −£104m | £103m |
| Profit before tax | £1bn | −£166m | £121m |
| Profit after tax | £802m | −£132m | £125m |
| Profit (best available) | £802m | −£132m | £125m |
| Employees (average) | 4,992 | 5,059 | 4,304 |
| Ratios | |||
| Profit margin | 9.2% | −2.4% | 2.4% |
| Gross margin | 11.5% | 14.6% | 13.1% |
| Revenue per employee | £1.7m | £1.1m | £1.2m |
| Profit per employee | £161k | −£26.1k | £29k |
| Growth (year on year) | |||
| Revenue growth | — | ▼36.7% | ▼6.8% |
| Profit growth | — | ▼116.5% | — |
| Headcount growth | — | ▲1.3% | ▼14.9% |
| Balance sheet — indirect signals, not revenue | |||
| Net assets | — | — | — |
| Source | Accounts · bulk data Sep 2025 | Accounts · bulk data Sep 2025 | Accounts · bulk data Aug 2026 |
How the business works
- Profit margin
- 2.4%
- Profit ÷ revenue.
- Gross margin
- 13.1%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £1.2m
- Revenue ÷ average employees.
- Profit per employee
- £29k
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- —
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- —
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- —
- Money owed by customers. Low = customers pay quickly.
Balance-sheet signals
Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.
- Net assets
- —
- Now —
- Cash at bank
- —
- Now —
- Headcount
- ▼15%
- Now 4,304
- Deferred income
- —
- Now —
- Fixed assets
- —
- Now —
Group structure
Ownership chain
- Energy Transition Holdings Ltdultimate parent75–100%
- Energy Transition Group Ltd75–100%
- Energy Transition Finance Ltd75–100%
- Energy Transition Finance 2 Ltdthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (1)
- Ovo Energy LtdFigures not disclosed
Sister companies (1)
- Kaluza Holdings 1 LtdFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from accounts for the year to 31 Dec 2025 (profit £125m), from the Companies House accounts bulk data published Aug 2026. Spotted an error? Request a correction.
Updated from Companies House on 13 Oct 2026
Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.