Echo
Echo has had another successful
year, with RapidXtra, its market
leading customer information and
billing system, going live in Dŵr
Cymru (Welsh Water) and new
contract awards and successful
implementations to service Anglian
Water Business and Severn Trent
Services with their non-household
retail system requirements. Echo’s debt
collection offering has been further
strengthened with the acquisition
of Grosvenor Services Group, which
complements Echo’s office based
collections expertise with Grosvenor’s
field based skills. During the year Echo
received recognition for its customer
service excellence with nominations
for three highly regarded awards.
The introduction of increased nonhousehold retail competition in
the UK water industry is creating
opportunities for Echo across all its
service areas. The business is also
working on a strategy to develop the
Echo brand in sectors which offer
opportunities for long term growth.
Financial
The Group achieved year-on-year
growth in turnover, pre-tax profits
and free cash flows that were also
ahead of the Group’s budget, despite
some significant challenges being
experienced in the year. However,
operating profit and EBITDA both
reduced, largely due to the impact
of non-recurring charges.
Employees
The Group and its businesses continue
to invest in its some 2,500 employees,
with their safety and wellbeing of
paramount importance. It has been
a challenging year for many of our
employees and we recognise and
thank them for their hard work,
innovation and commitment. All
of our businesses have health and
safety as a top focus, with health and
safety targets met or exceeded during
the year. All businesses are working
towards the aim of a year-on-year
reduction of workplace accidents.
Outlook
With many difficult decisions made
last year in order to respond to
changing environments, the focus
in the Group is now very much on
the present and the future which
presents both further challenges and
opportunity for development across
all of the Group’s divisions. The Group
will face these challenges head on and
will look to maximise the impact of the
opportunities that are apparent and
which develop during this new year.
5
Annual Report 2015
In the Clean Water business, Hydrosave
has continued to expand the interest
in its proprietary valve release and
maintenance system, and continues
to develop its relationships with both
Scottish Water and Thames Water. In
the Wastewater Services business, the
establishment of OnSite Rail promises
to deliver future growth in the division.
The Water Hygiene business secured a
number of new clients and anticipates
further growth in the current year.
In this new year, SSI Services expects
to see an upturn in water industry
expenditure as well as an increase
in profit margins following a series
of efficiency and cost control
measures that have been taken.