Infrastructure company Nexus says its pipeline for EV charging installations has jumped by 455%. In interim results for the six months ended 31 March 2021 the group said it has orders totalling £12.2M for the sector, compared to revenues of £3.8M in 2020.
Nexus installs EV charging and smart networks via its eSmart Networks arm, which provides end-to-end design, installation and connection of rapid electric vehicle charging infrastructure for customers such as charge point network operators, electric forecourt providers, local authorities, vehicles OEMs, direct B2B and B2C. It also provides design, installation and connection of smart grid solutions to the industrial and commercial sector such as fulfilment centres, food production units and cold storage warehouses. The company said it expects continued momentum and order book growth: “The UK’s need for electric vehicle charging infrastructure is significant, with consumer demand for charging points to fulfil the needs of the increasing number of electric vehicles, along with support from the UK Government. This, along with the high demand within the industrial and commercial sector for independent connections providers and renewable connections, is expected to result in the creation of valuable growth markets.”
Nexus’s TriConnex business, which designs, installs and connects electricity, gas, water, fibre networks and electric vehicle charging infrastructure on new residential properties, also saw continued high activity on sites last year. Revenue increased by 4.9% to £24.4M (H1 2020: £23.2M) and gross profit increased slightly to £7.2M (H1 2020: £7.1M). It said its housebuilder customers continue to view their long-term plans positively.