REG-Good Energy Group Plc: Final Results

Good Energy Group PLC
ISIN GB0033600353

20 April 2009

Good Energy release annual results

Good Energy Group PLC ("Good Energy"), the UK's only dedicated 100% renewable
electricity supplier has announced positive final results for the year ended
31 December 2008. Good Energy Group is quoted on PLUS (Ticker: GEGP).

Business Highlights:

- Further expansion of the Good Energy product base:

- Entry into the Gas market with the "Renewable Heat" product

- Increase in home generator customers from 320 to 462

- Launch of online Good Energy Shop

- Approval to repower the Good Energy wind farm in Delabole,
Cornwall. The larger farm will generate approximately 27GWh per annum when
at capacity, help stabilise power prices and power more customers.

- Recognition by its peers through a series of industry awards
including PLUS markets CEO of the Year; Micropower Award for Innovation;
Wiltshire Wildlife Trust award for Outstanding Contribution to the
Environment and the British Renewable Energy Company Award.

- Increase in staff numbers and appointment of a new MD to further
strengthen the senior management team.

Financial Highlights:

- Profit before tax £509,022 (2007: £545,269)

- Earnings per share of 4.0p (2007: 6.8p)

- Turnover up 37% to £17.7m (2007: £12.9m)

On publishing the results, John Sellers, Chairman of Good Energy said: "Against
a backdrop of difficult economic times I am pleased to announce that Good Energy
remains well positioned to develop the Group businesses and grow profitably in
the year ahead. There is no change to our strategy and our ambition to be the UK's
most trusted supplier of renewable electricity and associated products and services
for a low carbon lifestyle will remain a top priority for the year ahead.

We will also be focusing on increasing Good Energy's generating capacity
following the positive news from North Cornwall District Council that our
application to re-power our wind farm at Delabole has been approved. This is
excellent news for Good Energy and will add significant shareholder value.
Funding this project will be an exciting challenge and one we look forward to
embarking on.

Finally I want to acknowledge the outstanding contribution made by Good energy
employees. I am confident that our Chief Executive, Juliet Davenport and her
team will steer us through an exciting future and the demanding challenges it
presents."

The Good Energy Group PLC Annual General Meeting will take place at 11am on 13
May 2009 at Chippenham Town Hall, High Street, Chippenham, Wiltshire, SN15
3ER.

CONSOLIDATED INCOME STATEMENT
For the year ended 31 December 2008

2008 2007
(restated)
£ £

REVENUE 17,673,909 12,875,466

Cost of sales (13,115,714) (9,441,825)
_____ _____
GROSS PROFIT 4,558,195 3,433,641

Administrative Expenses (4,064,200) (2,794,150)
_____ _____
OPERATING PROFIT 493,995 639,491

Finance income 61,968 16,533

Finance costs (46,941) (110,755)
_____ _____

PROFIT BEFORE TAX 509,022 545,269

Taxation (199,613) (80,954)
_____ _____

PROFIT FOR THE YEAR ATTRIBUTABLE 309,409 464,315
TO EQUITY SHAREHOLDERS

Earnings per share - Basic 4.5p 7.9p
- Diluted 4.0p 6.8p

CONSOLIDATED BALANCE SHEET
As at 31 December 2008

2008 2007
(restated)
£ £
ASSETS
Non-current assets
Property, plant and equipment 994,590 884,143
Intangible assets 1,876,244 1,752,236
Investments 11,203 137,471
_____ _____
Total non-current assets 2,882,037 2,773,850
_____ _____
CURRENT ASSETS
Inventories 2,307,105 1,030,549
Trade and other receivables 4,996,015 2,601,509
Cash and cash equivalents 333,760 1,263,161
_____ _____
Total current assets 7,636,880 4,895,219
_____ _____
TOTAL ASSETS 10,518,917 7,669,069
_____ _____
EQUITY AND LIABILITIES
Capital and reserves
Called up share capital 342,967 344,463
Share premium account 3,047,281 3,065,896
Distributable reserves 1,652,405 1,342,996
_____ _____
TOTAL EQUITY 5,042,653 4,753,355
_____ _____
Non-current liabilities
Deferred taxation 120,572 174,872
Other financial liabilities - 79,272
_____ _____
Total Non-current liabilities 120,572 254,144
_____ _____
Current liabilities
Trade and other payables 4,110,232 2,494,070
Current tax payable 266,264 167,500
Bank overdraft 979,196 -
_____ _____
Total current liabilities 5,355,692 2,661,570
_____ _____
TOTAL LIABILITIES 5,476,264 2,915,714
_____ _____
TOTAL EQUITY AND LIABILITIES 10,518,917 7,669,069

The Directors take responsibility for this statement

END

About Good Energy:

- Good Energy is unique in the supplier industry by buying and selling only
100% renewable electricity - a major point of differentiation versus other
players in the market. To compare the fuel mix of other suppliers please
visit: www.electricityinfo.org/suppliers.php

- More than 25,000 homes and businesses across the UK have switched to Good
Energy. Good Energy buys electricity from more than 500 independent renewable
generators that use wind, small scale hydro, solar power and sustainable
biomass to generate electricity.

- In an official report entitled "Reality or Rhetoric? Green Tariffs for
Domestic Customers" from the National Consumer Council, Good Energy was rated
the greenest energy supplier in the UK. The report states: "For those
consumers who want a green electricity supply, pure and simple, this is
probably the closest they will get to it."

- Good Energy campaigns for more renewable generation in the UK, and is one of
the original signatories to new Ofgem guidelines which aim to clear up
confusion over 'green' energy tariffs.

- In 2008 alone Good Energy was named Best Buy for green electricity by
Ethical Consumer magazine. It also won a series of awards including: the
Micropower Award for Innovation; the Wiltshire Wildlife Trust Award for
Outstanding Contribution to the Environment; the British Renewable Energy
Company Award and Juliet Davenport won PLUS markets CEO of the Year.

- The Good Energy Shop helps customers reduce their energy use and costs as
well as providing the means for individuals, businesses and communities to
generate their own green energy. www.goodenergyshop.co.uk

- Join Good Energy today and start getting 100% renewable electricity. Call
0845 456 1640 or sign up online at www.goodenergy.co.uk

Media Enquiries

David Hopkins
Carbon International
david.hopkins@carboninternational.com
+44 (0)20 7483 3343

Samantha Hill
Carbon International
samantha.hill@carboninternational.com
+44 (0)20 7483 7205

Shareholder Enquiries

Jon Fairchild
Good Energy Group PLC
jon.fairchild@goodenergy.co.uk
+44 (0)1249 766 094

END