David Owen

A commercially astute, creative and energetic accountant with a proven track record in delivering profitable business performance. Proven abilities in building and leading professional, dynamic teams and driving through change. Bringing a wealth of financial and commercial expertise to formulate, implement and drive strategic direction. Specialist knowledge of the UK energy, generation and utilities and leasing markets. An invaluable business leader focused on business improvement, maximizing profitability and shareholder returns.

Key Achievements

• Leadership and Management of Finance and Commercial processes for a number of business up to £1b turnover size.

• Successful re-financing of £25m multi-faceted contracting with improved banking facilities and overdraft facility.

• Senior Leadership Team Chairman and key facilitator for business change role.

• At E.ON Implemented WIP and gross margin reporting systems, re-engineered business processes, delivery of commercial training to operations, WIP reduced by 50%, shortened the time between project completion and P&L impact from 120 days to 15, gross margin increase from less than 20% to 50%.

• At E.ON introduced an ABC system to accurately allocate £60m of overhead against each of the connections products, introduced new business volume trend analysis and economic forecasting providing a robust model and reports price/margin reflectivity in accordance with Ofgem regulatory requirements

• As a direct result of the improved financial governance and commercial focus, the E.ON Central Networks New Connections business was transformed from a loss of £20m in 2008 to a £4m profit in the first 6 months of 2011.

• Responsible for the tendering of street-lighting PFI contracts with a combined value of £180m. Both contracts were successfully awarded to E.ON.

• Expert management of successful mergers, acquisitions and sales of companies to both UK and International parties.

• Proven track record in the development and successful implementation of finance and commercial systems providing a positive P+L impact on businesses.

Career Summary

Head of Finance / 2018– Present

Commercial and Independent Business Consultant

Avon Utilities and Generation

• Project management, planning and development of generation sites for sale as ‘shovel ready’.

• Management and Production of accounts for independent audit process.

• Management of utility connections process as a consultancy service.

• Financial modelling for generation sites enabling acquisition by third parties.

• Business and finance solutions and systems consultancy.

• Client management for development sites.

Group Financial Director 2015 – 2018

Sterling Power Group

• Full financial and commercial responsibility for the Group encompassing multiple subsidiaries with a combined annual turnover of £25m.

• Responsible for the management and development of a team of 7 finance and procurement specialists.

• Chair and key facilitation role on Senior Leadership Team driving business planning and strategy.

• Successful implementation of controls and rigorous fiscal management to track Activity Based Performance, subsidiary performance and consolidated performance.

• Fully live and dynamic forecasting process implemented to drive one, three and 5 year forecasting and planning.

• Delivery of monthly management reporting requirements including dashboards and KPI packs

• Responsibility for statutory reporting, pricing, risk management and control, identification and implementation of cost reduction opportunities, business efficiency monitoring and the promotion and development of new products to enhance diversity of product offerings and market opportunities.

Finance Director 2011 – 2015

Healthcare Management Solutions Ltd

• Responsibility for the strategic and operational financial management of large portfolios of Care Homes managed and operated on behalf of Financial Institutions, Insolvency Practitioners and Private Operators.

• Responsible for the management and development of a team of 20 Finance professionals.

• Responsible for the day to day financial management of the individual homes and companies within the portfolio, including operation of prime ledgers, production of accrual-based monthly management accounts, detailed cash flow analysis and forecasts, and payroll provision.

• Ensuring that the provision of client information requirements were met in full, monitored and ensured the resolution of issues highlighted through a robust KPI process.

• Ensured that companies traded within granted facilities or debt service covenants in place.

• Ensured compliance with statutory requirements for accounts, audit and taxation were met.

• Management of strategic planning reviews and investment appraisal processes to improve operational and financial performance of the homes and companies within the portfolio.

• Responsible for the production of Independent Business Reviews on individual homes and multi-home portfolios for both incumbent and prospective financiers.

Senior Business Analyst 2008 – 2011

E.ON Central Networks

• Full financial control responsibility for the New Connections business and the management of a team of 7.

• Production of 5 year business plans (circa £1bn turnover).

• Delivery to the Board of monthly management reporting requirements including dashboards and KPI packs.

• Annual regulatory reporting, statutory reporting, pricing, risk management and control, identification and implementation of cost reduction opportunities, business efficiency monitoring and the promotion and development of new products to enhance non-regulated earnings.

• Implementation of WIP and gross margin reporting systems, re-engineering of business processes and delivery of regular commercial training to delivery units.

• Reduced WIP by 50%, shortened the time between project completion and P&L impact from 120 days to 15, and increased the average gross margin achieved from less than 20% to 50%.

• Implemented an ABC system to accurately allocate £60m of overhead against each of the connections products.

• Volume trend analysis and economic forecasting creating robust and transparent pricing model to demonstrate price/margin in accordance with Ofgem regulatory requirements.

• Implementation of the DPCR5 reporting system for New Connections which was audited and passed by Ofgem in September 2010.

• Responsible for the financial modelling and tendering of numerous projects.

Property Development 2006 – 2007

• Successful acquisition, development and completion of a number of properties for either sale or rental.

Group Finance Director 2003 – 2006

Management Solutions Group Plc

• Creation of acquisition vehicle for utility, PFI and contracting business sale.

• Management of acquisitions process, by where in 2003 MSG purchased Energy Services (UK) Ltd from Midlands Electricity, including the novation the non-PFI contracts into a separate legal entity.

• Successfully increased turnover by securing a number of new long-term energy management contracts.

• Creation of new entity (Sterling Power Group) providing design, consultancy, direct labour and training services to the utilities sector, with initially more than 60 members of staff and turnover in excess of £7m.

• Responsible for all aspects of the Finance, IT, and Legal functions, Company Secretarial duties and support to the HR function.

• Also supported Energy Services businesses providing leasing, taxation and legal expertise to the sales and commercial operation.

• Managed reconstruction of Group with sale of Sterling Group to a management buy-out from Sterling MD and Energy Services to Cofathec UK ltd, a subsidiary of Gaz De France.

Financial Consultant 1999 – 2003

Independent Midland Gas and Energy Services Ltd

• Successfully negotiated release from out-of-market long term energy purchase contracts at a substantial discount.

• Management of Contract Energy Management schemes in the PFI and private sectors.

• Development of wider client relationships and undertook assignments with other organisations within the Energy & Utilities sector, including client Yorkshire Electricity, Independent Energy, Npower and Cambridge Gas.

• Design and implementation of risk management strategies, systems and procedures to the development of pricing models, contract framework and negotiation.

• Management of external financing strategies in conjunction with major financial institutions.

Finance Manager 1996 – 1999

Midlands Gas Ltd

• Responsible for all financial and management accounting/reporting, statutory returns, business planning and financial control of the company with line responsibility for 12 members of staff.

• Key role in the sale of the domestic gas portfolio to Amerada Hess in 1997 and subsequent sale of 80% of the commercial gas portfolio to AGAS (TotalFinaElf) in 1998 ensuring the maximisation of contract sale value to Midlands.

• Responsible for the energy management requirements of commercial gas supply business incorporating beach contract management, active trading of gas at the National Balancing Point, demand forecasting, and management of the supply portfolio and Transco interfaces.

• Design and implementation of a risk management strategy and systems to effectively manage the risks and exposures associated with energy supply and successfully negotiated a number of hedging contracts on behalf of Midlands Gas to eliminate price risk.

Management Accountant 1994 – 1996

Midlands Gas Ltd

• Responsible for the management/financial accounting, debt collection and banking functions with a team of 12 staff.

• Management of the reconciliation and submission of monthly gas trading settlements and the interface with Transco for capacity and commodity transportation charging, reconciliation and settlement.

• The implementation and ongoing development of the SUN Accounts system including interfacing the sales ledger to the bespoke gas invoicing system to enable credit account functionality for domestic supply accounts.

• Implementation of the satellite sales offices, procurement services, the agent commission systems and contract status and exception reporting system handling up to 15,000 contracts per month.

Management Accountant 1993 – 1994

PTG (CHA) Ltd (Automotive Component Manufacturing)

Treasury Accountant 1990 – 1993

HSBC Plc

Trainee Accountant 1988 – 1990

HSBC Plc

Qualifications

• CIMA

• 3 A-levels – Mathematics, Physics and French

• 1 AO-level – Mathematics

• 10 O-levels – including English and Mathematics