Sabien Technology Group on Tuesday reported revenue of £750,000 for the year ended 30 June, down 11.5% from £847,000 the prior year, as the AIM-listed energy efficiency technology provider's operating loss widened to £569,000 from £456,000.
The loss after tax narrowed to £544,000 from £647,000, though the company said this reflected non-recurring accounting adjustments rather than an equivalent improvement in underlying trading.
First-half revenue had risen 51% to £504,000, but customer purchasing and installation schedules slowed in the second half, pulling several orders into the new financial year. Customer orders for the year exceeded £908,000, against £948,000 in FY2025, and Sabien enters FY2027 with an opening order book of £196,446, almost double the equivalent figure a year earlier.
Cash at the year end stood at £30,000, down from £67,000.
"FY2026 has been a challenging year for Sabien," said Executive Chairman Richard Parris, adding that the Board shares shareholders' frustration at the time taken to convert commercial opportunities into meaningful revenues.
Sabien's M2G platform helps organisations cut energy consumption and carbon emissions through intelligent optimisation technology, and remains the company's principal operating business.
During the year the company received £251,186 from its b.grn Group investment, comprising historical management service fees, an intercompany loan repayment and partial settlement of a fixed profit share, of which £127,500 went to settling amounts due to Parris Group before 30 June.
Sabien also settled liabilities through new share issues: 875,657 shares at 5.71p covered £50,000 of a historical contract liability, 2.99m shares at 6p settled £179,409 of accrued FY2026 directors' remuneration, and broker AlbR Capital accepted 1.07m shares at 3.75p for £40,000 of fees, taking issued share capital to 31.73m shares.
Parris Group, which funds product development undertaken by Aretiico Group and supports Sabien through loans and working capital arrangements, is owed £128,000 under a "Levelling Up" clause triggered when development costs exceed its 5% sales commission, which it has agreed to defer for at least 12 months from accounts approval.
Sabien said EVO, the next-generation successor to its M2G hardware platform, is expected to enter the market in the first quarter of calendar 2027, offering lower manufacturing costs, improved margins and simpler installation aimed at volume sales through third-party distribution.
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Proposed UK distribution discussions with Haydale and SaveMoneyCutCarbon, under non-binding heads of terms signed in May, were terminated after the parties could not agree material commercial and legal terms.
On its City Oil Field interests, Sabien said the Jeongeup plant in South Korea achieved full certification and moved into full-scale operation, while a proposed strategic agreement announced in November 2025 did not complete; the existing sales agency arrangement continues to 2029.
The company suspended its strategic review of its City Oil Field and b.grn interests, citing commercial engagement around the technology in Canada and the north-eastern United States, with development funded by Parris Group through b.grn rather than requiring additional Sabien capital.
Sales since the year end totalled approximately £220,000 to 30 September, broadly in line with the prior year, with a further £80,000 of orders awaiting installation.
Sabien separately announced an additional £100,000 short-term working capital facility from Parris Group.
The company will hold its annual general meeting at 11:00am on Tuesday 22 December at the London offices of AlbR Capital.