Sabien Technology Group plc (AIM: SNT), a provider of energy efficiency technologies through its M2G platform, has published audited results for the year ended 30 June 2026, reporting revenue of £750,000 against a loss after tax of £544,000. The announcement highlights a material uncertainty over going concern, with the company dependent on continued financial support from related party Parris Group Limited. Investors will be watching the forthcoming commercial launch of EVO, the next-generation M2G device, targeted for the first quarter of calendar year 2027.

Key Points

  • Sabien Technology Group plc (AIM: SNT) — provider of energy efficiency and building optimisation technologies
  • Full-year revenue fell 11.5% to £750,000 (FY2025: £847,000), with operating loss widening to £569,000 from £456,000
  • Forward orders carried into FY2027 stand at £200,000, broadly double the equivalent position entering FY2026; cash at year end was £30,000
  • Investors should monitor EVO's commercial launch, the COF strategic development via b.grn, and the continued availability of Parris Group's uncommitted working capital facilities

Revenue Decline and Widening Operating Loss Overshadow Strong First-Half Trading

Sabien's full-year revenue of £750,000 represented an 11.5% reduction from £847,000 in FY2025, despite a 51% increase in first-half revenues to £504,000. The announcement states that customer purchasing and installation schedules slowed materially in the second half, dragging full-year performance below expectations. The operating loss widened to £569,000 from £456,000, and cash at the year end stood at £30,000, down from £67,000 previously. The company notes that the improvement in net loss after tax to £544,000 from £647,000 included non-recurring accounting adjustments and does not represent an equivalent improvement in underlying trading performance.

EVO Next-Generation M2G Device and Aretiico Partnership Underpin FY2027 Growth Strategy

Sabien's principal near-term growth driver is EVO, a next-generation replacement for its existing M2G boiler optimisation hardware, with intellectual property owned by Sabien and development funded by Parris Group and undertaken by Aretiico Group plc. The company expects EVO to deliver lower manufacturing costs, improved gross margins, and a simplified installation process suitable for volume distribution through third-party networks. An additional charge of £128,000 relating to EVO development costs was recognised in FY2026. M2G Cloud Connect is also being positioned for AI-assisted building energy management, responding to growing interest from facilities management customers.

COF Strategic Review Suspended as Sabien Preserves b.grn Investment and Commercial Rights

Sabien holds investment and contractual agency rights in City Oil Field's Regenerated Green Oil waste-plastics recycling technology through its interest in b.grn Group Limited. The company received £251,186 from b.grn during the year, comprising historical management service fees, loan repayment, and a partial fixed profit share settlement. A proposed strategic agreement with COF announced in November 2025 did not complete, and the existing sales agency arrangement continues to 2029. The Board suspended its strategic review of these interests on 5 October 2026, with development continuing through b.grn funded by Parris Group, requiring no additional Sabien capital at this stage.

Going Concern Warning as Sabien Relies on Parris Group's Uncommitted Financial Support

Auditors have drawn attention to a material uncertainty regarding going concern, noting net current liabilities of £632,000 and the group's dependence on Parris Group Limited — an entity controlled by Executive Chairman Richard Parris — for loan forbearance and working capital facilities. Parris Group has confirmed it will not seek repayment of £206,000 in loans, £139,000 under an IP Licence Agreement, and £38,000 in stock payments unless Sabien is able to do so without compromising trading. An additional uncommitted £100,000 working capital facility was made available in November 2026. The company's AGM is scheduled for 22 December 2026 at 80 Cheapside, London.