2013 - 02 - 19 - Amended Half Yearly Report and Accounts

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Energy Action Limited ABN 90 137 363 636

FINANCIAL REPORT FOR THE HALF YEAR ENDED 31 DECEMBER 2012

APPENDIX 4D HALF YEAR REPORT

HALF YEAR ENDED 31 DECEMBER 2012

Energy Action Limited (ASX: EAX) ACN 137 363 636

1. Results for announcement to the market
% change 6 months to 31
Dec 2012

6 months to 31
Dec 2011
Revenue from ordinary activities Increase 20% to

$10,346,049
$8,588,731
Profit from after tax attributable to members Increase 3% to $1,798,825^ $1,744,517
^Includes M&A acquisition costs of $491,303

Basic earnings per share (statutory) Decrease 7% to 7.15c 7.69c
Diluted earnings per share (statutory) Decrease 7% to 7.07c 7.63c

2. Dividends
Cents per
share
Franked amount
cents per share
Payment date Record date
2013 interim dividend 3.55 3.55 14 March 2013 28 February 2013
2012 final dividend 3.72 3.72 14 September 2012 31 August 2012

3. Dividend re-investment pl an

The Distribution Re-investment Plan (DRP) is currently not activated and is not available for the 31
December 2012 dividend.

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4. Net tangible assets

31 December 2012

31 December 2011

Net tangible assets per share

$0.22

$0.37

5. Status of audit

An unqualified, signed Review Opinion is included within the attached Financial Report

Al l other information required to be disclosed by Energy Action Limited in the Appendix 4D is
either not appli cable or has been included in the attached Financial Report.

Please also refer to the ASX results announcement and results presentation.

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ENERGY ACTION LIMITED
ABN 90 137 363 636

ABN 90 137 363 636
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Financial Report
for the Half Year Ended 31 December 2012

Contents
Corporate information ............................................................................................................................. 5
Directors Report ...................................................................................................................................... 6
Review and results of operations ........................................................................................................ 6
Events after the Reporting Period ....................................................................................................... 8
Other than the above there are no other matters or circumstances.................................................... 8
Auditors Independence Declaration ....................................................................................................... 9
Financial Statements ............................................................................................................................. 10
Consolidated Statement of Comprehensive Income ......................................................................... 10
Consolidated Statement of Financial Position ................................................................................... 11
Consolidated Statement of Changes in Equity .................................................................................. 12
Consolidated Statement of Cash Flow .............................................................................................. 13
NOTE 1: CORPORATE INFORMATION .......................................................................................... 14
NOTE 2: BASIS OF PREPARATION AND CHANGES IN ACCOUNTING POLICIES ..................... 14
NOTE 3: BUSINESS COMBINATIONS ............................................................................................ 15
NOTE 4: SEGMENT INFORMATION ............................................................................................... 17
NOTE 5: REVENUE AND OTHER INCOME .................................................................................... 18
NOTE 6: INTANGIBLE ASSETS ....................................................................................................... 18
NOTE 7: TRADE AND OTHER PAYABLES ..................................................................................... 18
NOTE 8: EARNINGS PER SHARE ................................................................................................... 19
NOTE 9: DIVIDENDS ........................................................................................................................ 19
NOTE 10: ISSUED CAPITAL AND RESERVES ............................................................................... 20
NOTE 11: EVENTS AFTER THE REPORTING PERIOD ................................................................. 21
Directors Declaration ............................................................................................................................. 22
Independent Review Opinion ................................................................................................................ 23

ABN 90 137 363 636
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Corporate information
ACN: 137 363 636

Directors
Dr. Ronald Watts Non Executive Chairman
Paul Meehan Non Executive
Stephen Twaddell Non Executive
Valerie Duncan Managing Director
Edward Hanna Executive Director
Murray Bleach Non Executive (appointed 3 J uly 2012)

Company Secretaries
Nathan Francis
Valerie Duncan

Registered office and pri ncipal place of business
Level 5, 56 Station Street
Parramatta, NSW 2150

Share register
Link Market Services Limited
Level 12
680 George Street
Sydney NSW 2000

Energy Action Limited shares (EAX) are listed on the Australian Securities Exchange (ASX)

Solicitors
Greenwich Legal
Level 11, 50 Margaret Street
Sydney NSW 2000

Bankers
Commonwealth Bank of Australia
Level 3, 101 George Street
Parramatta NSW 2150

Auditors
Ernst & Young
680 George Street, Sydney, NSW 2000

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Directors Report
Your directors present their report, together with the financial statements for Energy Action Limited
(the Company) and its consolidated entities (the Group), for the half-year ended 31 December
2012.

Directors
The names of the Companys directors in office during the half-year and until the date of this report
are as follows. Directors were in office for this entire period unless otherwise stated.

Dr. Ronald Watts - Non Executive Chairman
Valerie Duncan - Managing Director
Edward Hanna - Executive Director
Paul Meehan - Non Executive Director
Stephen Twaddell - Non Executive Director
Murray Bleach Independent Non Executive Director appointed 3 J uly 2012

Principal Activities
Energy Actions principal activities are providing integrated energy management services to a diverse
base of commercial and industrial customers. Its core services are:
Reverse auctions for electricity: specialised electricity procurement via online reverse
auctions with gas conducted via email tender;
Energy monitoring and assessment and contract management; and
Energy efficiency and sustainability.

Initially founded in 2000 Energy Action has grown significantly and since 2005 the company has
procured more than $4 billion worth of electricity on behalf of its clients.

The company listed on the Australian Securities Exchange on 13 October 2011.

Dividends
Final dividends recommended:
Ordinary shares
Cents per share $
Interim 2013 dividend
to be paid 14 March 2013

3.55 898,396
Interim 2012 dividend paid 13
March 2012
3.48 872,262

Review and results of operations
Financial overview
The Group generated statutory net profit after tax of $1.8 million for the half year ending 31 December
2012 compared to $1.7 million for the half year ended 31 December 2011. The statutory result was
impacted by $0.5 million of acquisition costs (prior period: nil). Operating profit after tax (before
acquisition costs) was $2.3 million compared to $2.1 million for the previous period (before IPO
costs), representing a 9% increase.

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Revenue and other income increased by $1.7 million (or 20%), from $8.6 million to $10.3 million,
mainly as a result of higher Activ8 revenue, which increased by $0.8 million, and a $0.8 million
revenue contribution from Ward Consulting Services which was acquired on 1 August 2012.

Whilst AEX revenue was $0.2 million higher than the previous period it was adversely impacted by
shorter electricity contract periods being entered into by Energy Actions corporate customers. The
contract shortening is due to the fact that energy retailers are generally not pricing contracts beyond
30 J une 2015, as a result of the uncertainty surrounding the carbon tax price beyond that point.

Energy Action is working closely with the energy retailers to implement a solution to create liquidity in
electricity markets post 30 J une 2015.

On 1 August 2012, Energy Action Limited acquired 100% of the voting shares of J asper Australia Pty
Limited, an unlisted company based in Sydney, New South Wales. Trading as Ward Consulting
Services it is a long established, highly successful and profitable business, with a focus on
sustainability and efficiency reporting. It is a highly complementary addition to Energy Action. Please
refer to Note 3 of the financial statements for further detail.

Ward Consulting Services made a strong contribution of $0.8 million to the Groups first half revenue.

A reconciliation of the Groups statutory to operating profit is shown in the table below:

$000s 31 Dec 2012 31 Dec 2011 % variance
Statutory net profit after tax 1,799 1,745 3%
Add back: One off listing costs^ - 364
Add back: Acquisition costs* 491
Operating profit after tax 2,290 2,109 9%

^IPO costs, net of tax.
* Costs relating to the acquisition of Ward Consulting Services.

The adjusted operating profit after tax amount has not been audited, the amount of the add back
items have been extracted from the accounts.

Net assets increased from $10.4 million at 30 J une 2012 to $11.6 million at 31 December 2012 mainly
as a result of profit generated offset by the final FY12 dividend paid in September 2012. The Group
had $6.2 million of cash at bank at 31 December 2012 and no bank debt.

The Group has a very solid platform with which to execute on its strategy of undertaking mergers and
acquisitions that meet strategic and financial hurdles.

Strong operating cash flow of $2.4 million was generated during the period, compared to $2.3 million
in the previous period. Operating cash flow included $0.5 million of acquisition costs incurred in
relation to purchase of Ward Consulting Services.

Earnings per share were 7.15 cents for the period compared to 7.69 cents in the previous period. The
current period was impacted by an 11% increase in the weighted average number of shares on issue.
Operating earnings per share were 9.10 cents compared to 9.30 cents in the prior period.

In line with the Groups policy of paying 50% of net profit after tax as a dividend, an interim fully
franked dividend of 3.55 cents per share will be paid on 14 March 2013.

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Revenue and profit is expected to be weighted to the second half of FY13 as a result of a higher
forward contract book (up 13% from 30 J une 2012 to $74 million at 31 December 2012), a full 6
months contribution from Ward Consulting Services, and strong momentum from Activ8+.

Operating overview

Energy Actions solid half-year results were driven by a continuing trend among Australian businesses
to outsource their energy procurement and management functions. The positive results were also
achieved in a climate of uncertainty around the permanency of the Federal Governments carbon tax
legislation.

The company continued to invest in the Australian Energy Exchange, which experienced steady
growth in traffic, with 1,426 auction scenarios run on the Exchange over the past year (compared to
1,223 for the previous corresponding period).

Energy Action has also expanded its geographical footprint through the establishment during the
period of a sales office in Western Australia - a key growth market for the Group.

Future contracted revenue increased 13% from $65 million at 30 J une 2012 to $74 million at 31
December 2012. This significant future revenue stream underpins the Groups growth and provides
annuity style income.

Energy Action currently has more than 9,000 sites under active or future energy contracts, having
procured over $380 million in energy contracts in the first half of FY13.

The companys Activ8 suite of services also performed strongly, with over 7,500 sites now under
active or future contracts.

Energy Action launched Activ8+during 2012, which provides a range of energy management,
efficiency and sustainability services. The complexities of the energy market, and greater awareness
of increasing energy costs, have also meant more businesses are looking to reduce their energy
expenses. Issues around sustainability and the carbon tax have led to more inquiry and take up of
Energy Actions broader energy management and sustainability services, which present opportunities
for new revenue.

The Group has undertaken a significant review of its sale team structure, including role definition and
the commission framework.

Events after the Reporting Period

On 18 February 2013, the directors of Energy Action Limited declared an interim dividend on ordinary
shares in respect of the 6 months to 31 December 2012. The total amount of the dividend is $898,396
which represents a fully franked dividend of 3.55 cents per share. The dividend has not been provided
for in the 31 December 2012 financial statements.
Other than the above there are no other matters or circumstances.

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Auditors Independence Declaration

The lead auditors independence declaration for the half-year ended 31 December 2012 has been
received and can be found on the following page of the financial report.

This directors report is signed in accordance with a resolution of the Board of Directors.

Valerie Duncan
Director
Dated: 18 February 2013

Liability limited by a scheme approved
under Professional Standards Legislation

Auditors Independence Declaration to the Directors of Energy Action
Limited

In relation to our review of the financial report of Energy Action Limited for the half-year ended 31 December 2012,
to the best of my knowledge and belief, there have been no contraventions of the auditor independence requirements
of the Corporations Act 2001 or any applicable code of professional conduct.

Ernst & Young

Schalk Barnard
Partner
Sydney
18 February 2013

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Financial Statements

Consolidated Statement of Comprehensive Income
For the half year ended 31 December 2012

Note Consolidated Group
2012
$
2011
$
Continuing operations
Revenue 10,217,343 8,529,232
Other income 5 128,706 59,499
10,346,049 8,588,731

Employee benefits expense 4,948,509 3,998,387
Depreciation and amortisation 306,039 256,335
Cost of goods and rebates 421,053 429,491
Listing costs - 520,087
Acquisition costs 491,303 -
Rental expense 276,442 228,934
Travel expenses 111,202 88,225
Administration expenses 981,055 696,068
Profit before income tax 2,810,446 2,371,204
Income tax expense 1,011,621 626,687
Profit for the year attributable to members of the parent
entity 1,798,825 1,744,517

Other comprehensive income:
Other comprehensive income for the year, net of tax - -
Total comprehensive income for the year attributable to
members of the parent entity 1,798,825 1,744,517

Earnings per share: Cents Cents
Basic earnings per share for the year attributable to ordinary
equity holders of the parent 8 7.15 7.69
Diluted earnings per share for the year attributable to ordinary
equity holders of the parent 8 7.07 7.63

The accompanying notes form part of these financial statements

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Consolidated Statement of Financial Position
As at 31 December 2012

31 December 2012
$
30 June 2012
$

CURRENT ASSETS
Cash and cash equivalents 6,205,248 6,757,604
Trade and other receivables 3,285,557 2,784,757
Other assets 297,287 162,260
TOTAL CURRENT ASSETS 9,788,092 9,704,621
NON-CURRENT ASSETS
Other receivables 14,690 22,925
Property, plant and equipment 375,698 334,343
Deferred tax assets 342,099 375,585
Intangible assets 6 5,960,074 1,722,396
TOTAL NON-CURRENT ASSETS 6,692,561 2,455,249
TOTAL ASSETS 16,480,653 12,159,870
CURRENT LIABILITIES
Trade and other payables 7 3,388,305 906,984
Current tax liabilities 656,500 12,020
Provisions & other liabilities 607,614 588,108
TOTAL CURRENT LIABILITIES 4,652,419 1,507,112
NON-CURRENT LIABILITIES
Provisions & other liabilities 254,119 258,991
TOTAL NON-CURRENT LIABILITIES 254,119 258,991
TOTAL LIABILITIES 4,906,538 1,766,103
NET ASSETS 11,574,115 10,393,767
EQUITY
Issued capital 10b 4,329,671 3,979,171
Retained earnings 7,244,444 6,379,596
Reserves - 35,000
TOTAL EQUITY 11,574,115 10,393,767


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Consolidated Statement of Changes in Equity

Consolidated Group Note Issued Capital
Ordinary
Share Option
Reserve
Retained
Earnings
Total
$ $ $ $
Balance at 1 July 2011 449,263 - 4,110,537 4,559,800
Total comprehensive income attributable to
members of parent entity

-

- 1,744,517 1,744,517
Net proceeds on increase in capital 3,564,908 - - 3,564,908
Share based payments 10b - 35,000 - 35,000
Dividends paid or provided for 9 - - (469,672) (469,672)
Balance at 31 December 2011 4,014,171 35,000 5,385,382 9,434,553

Balance at 1 July 2012 3,979,171 35,000 6,379,596 10,393,767
Total comprehensive income attributable to
members of parent entity

-

- 1,798,825 1,798,825
Share capital issued in the year 10b 75,500 - - 75,500
Conversion of Options 10b 275,000 (35,000) - 240,000
Dividends paid or provided for 9 - - (933,977) (933,977)
Balance at 31 December 2012 4,329,671 - 7,244,444 11,574,115


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Consolidated Statement of Cash Flow

2012
$
2011
$
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers (inclusive of GST) 10,875,356 9,180,621
Payments to suppliers and employees (inclusive of GST) (7,345,556) (6,150,730)
Acquisition costs (491,303) -
Interest received 101,706 59,499
Income tax paid (723,465) (792,279)
Net cash provided by operating activities 2,416,738 2,297,111
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment (121,396) (82,619)
Acquisition of Ward Consulting Services 3 (1,940,288) -
Purchase of intangible assets (213,433) (405,011)
Net cash used in investing activities (2,275,117) (487,630)
CASH FLOWS FROM FINANCING ACTIVITIES
Dividends paid by parent entity 9 (933,977) (469,676)
Proceeds from share issue 10b 240,000 3,800,000
Equity raising costs - (779,256)
Net cash provided by/ (used in) financing activities (693,977) 2,551,068
Net (decrease)/increase in cash held (552,356) 4,360,549
Cash at beginning of financial year 6,757,604 1,566,517
Cash at end of financial year 6,205,248 5,927,066


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NOTE 1: CORPORATE INFORMATION
The interim condensed consolidated financial statements of Energy Action Limited and its Controlled
Entities (the consolidated group or group) for the half-year ended 31 December 2012 were
authorised in accordance with a resolution of the directors on 18 February 2013.
Energy Action Limited (the Parent) is a company limited by shares incorporated in Australia whose
shares are publicly traded on the Australian Securities Exchange. The Group is a for profit entity.
The nature of the operation and principal activities of the Group are described in the directors report.
NOTE 2: BASIS OF PREPARATION AND CHANGES IN ACCOUNTING
POLICIES
2.1 Basis of Preparation
The interim condensed consolidated financial statements for the six months period ended 31
December 2012 have been prepared in accordance with AASB 134 Interim Financial Reporting.
The interim condensed consolidated financial statements do not include all the information and
disclosures required in the annual financial statements, and should be read in conjunction with the
Groups annual financial statements as at 30 J une 2012.
Where necessary, comparatives have been reclassified and repositioned for consistency with
disclosures at 30 J une 2012.

2.2 New Accounting Standards and interpretations
Changes in accounting policy
The accounting policies adopted in the preparation of the interim condensed consolidated financial
statements are consistent with those followed in the preparation of the Groups annual financial
statements for the year ended 30 J une 2012. The Group has not early adopted any other standard,
interpretation or amendment that has been issued but is not yet effective.

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NOTE 3: BUSINESS COMBINATIONS
Acquisition of Jasper Australia Pty Limited (now called ACN 087 790 770 Pty Limited).
On 1 August 2012, Energy Action Limited acquired 100% of the voting shares of J asper Australia Pty
Limited, an unlisted company based in Sydney, New South Wales. Trading as Ward Consulting
Services it is a long established, highly successful and profitable business, with a focus on
sustainability reporting and efficiency solutions. It is a highly complementary addition to Energy
Action.

Established in 1999, Ward Consulting Services is a highly-regarded and recognised firm that provides
energy procurement and management services to a broad range of blue-chip clients in the property,
food and beverage and finance sectors. Clients include some of Australias leading property owners
and commercial property firms. The business has a number of long term contracts that generate
stable and predictable revenue streams.

The acquisition has been accounted for using the acquisition method. The interim condensed
consolidated financial statements include the results of Ward Consulting Services for the five month
period from the acquisition date.

Consideration is comprised of the following:

Tranche 1 (paid) - $2,000,000 cash payment and $75,500 paid in Energy Action Limited ordinary
shares. The issue price was $1.7986 per share, calculated based on the 20 day VWAP for the period
ending on the day before the issue date.

Tranche 2 (payable) - $500,000 cash payment and contingent consideration which will be paid in the
form of Energy Action Limited ordinary shares. The issue price will be calculated based on the 20 day
VWAP for the period ending on the day before the issue date. Tranche 2 is payable 30 business days
following completion of the audit of Ward Consulting Services financial statements for the year ended
30 J une 2013 (estimated to be during September 2013).

Tranche 1 was based on 50% of a multiple of Ward Consulting Services normalised net profit after
tax for the year ended 31 December 2011. Tranche 2 will be based on 50% of a multiple of Ward
Consulting Services normalised audited net profit after tax for the year ended 30 J une 2013.

The deferred consideration (tranche 2) has been recognised at its fair value based on Ward
Consulting Services budgeted net profit after tax for the year ended 30 J une 2013.

Estimated total consideration:
$
Cash paid 2,000,000
Equity paid 75,500
Deferred

2,341,339
Total

4,416,839

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NOTE 3: BUSINESS COMBINATIONS (continued)

The provisional fair value of the identifiable assets and liabilities of Ward Consulting Services as at
the date of acquisition was:

The goodwill is attributed to the expected synergies and other benefits from combining the activities of
Ward Consulting Services to the Group. The goodwill is provisional as the excess of the net assets
acquired has been allocated to goodwill until other intangible assets, if any, such as customer
relationships, have been identified.

From the date of acquisition until 31 December 2012 Ward Consulting Services contributed $767,163
of revenue to the Group. If the combination had taken place at the beginning of the year, their
contribution to the revenue would have been $890,051

The transaction costs of $491,303 have been expensed in the income statement and are part of
operating cash flows in the statement of cash flows.

$

Fair value recognised on acquisition
Assets
Cash 59,712
Trade receivables 137,077
Prepayments 18,330
Deferred tax 3,496
Property, plant and equipment 23,143
241,758
Liabilities
Provisions 35,668
Tax payable 44,728
80,396
Total identifiable net assets at fair value 161,362
Goodwill arising on acquisition 4,255,477

Purchase consideration 4,416,839

Analysis of cash flows on acquisition:
Net cash acquired 59,712
Cash paid (2,000,000)
Net cash outflow (1,940,288)
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NOTE 4: SEGMENT INFORMATION
Identification of reportable segments

The Group has identified one reportable operating segment, which provide electricity and gas
procurement services, energy monitoring services, and sustainability services in Australia. The types
of services provided are detailed below.

Types of Services

The businesss service range is composed of the three major services: Procurement via Energy
Actions Australian Energy Exchange (AEX) and also via tender process through Ward Consulting,
Energy Monitoring via Energy Actions Activ8 service and also through Ward Consultings product
offering, and Sustainability (branded as Activ8+).

The AEX is a specialised electricity procurement service which is an online, real time, reverse
auctions platform.

Activ8 is an independent energy monitoring contract management service which includes energy
consumption monitoring and costing, energy emissions monitoring, contract administration, detailed
technical reporting, desktop energy efficiency review and additional reporting and monitoring.

Activ8+is the energy efficiency and sustainability partnering service, which includes metering
intelligence, sub metering, carbon footprint measurement and reduction advice, Australian Standard
Level 2 compliance energy audits, project feasibility studies and supporting onsite power generation
projects such as co-generation and tri-generation units from prefeasibility through to commissioning.

Ward Consulting Services provides energy procurement and monitoring services to a broad range of
blue-chip clients in the property, food and beverage and finance sectors. Clients include some of
Australias leading property owners and commercial property firms. The business has a number of
long term contracts that generate stable and predictable revenue streams.

Whilst the revenue is analysed by service line, overall the performance of the business is monitored
as one.

Accounting Policies and inter-segment transaction

The accounting policies used by the Group in the reporting segment internally are the same as those
contained in note 2 to the accounts.

Revenue by customer

There is no revenue with a single external customer that contributes more than 10%.

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NOTE 4: SEGMENT INFORMATION (continued)

Year ended 31 December 12 Procurement Monitoring Sustainability Total
$ $ $ $

Sales to external customers 2,758,723 6,757,047 701,573 10,217,343

Year ended 31 December 11 Procurement Monitoring Sustainability Total
$ $ $ $

Sales to external customers 2,649,894 5,307,141 572,197 8,529,232

NOTE 5: REVENUE AND OTHER INCOME
Consolidated Group
2012
$
2011
$

Interest income

101,706

59,499
Research & development grant

27,000

-

128,706 59,499

NOTE 6: INTANGIBLE ASSETS
Consolidated Group
December 12 June 2012
$ $

Software development costs 1,704,597 1,722,396
Goodwill 3 4,255,477 -

5,960,074 1,722,396

NOTE 7: TRADE AND OTHER PAYABLES
Consolidated Group
December 12 June 2012
$ $

Trade and other payables 1,046,966 906,984
Deferred consideration Ward Consulting Services 3 2,341,339 -

3,388,305 906,984
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NOTE 8: EARNINGS PER SHARE
Basic earnings per share amounts are calculated by dividing net profit for the year attributable to
ordinary equity holders of the parent by the weighted average number of ordinary shares outstanding
during the year.

Diluted earnings per share amounts are calculated by dividing the net profit attributable to ordinary
equity holders of the parent (after adjusting for interest on the convertible preference shares) by the
weighted average number of ordinary shares outstanding during the year plus the weighted average
number of ordinary shares that would be issued on conversion of all dilutive potential ordinary shares
into ordinary shares.

The following reflects the income and share data used in the basic diluted earnings per share
computations:

2012
$
2011
$

Net profit attributable to ordinary equity holders of the parent
for basic earnings
1,798,825 1,744,517
Net Profit Attributable to ordinary equity holders of the parent
adjusted for the effect of dilutions

1,798,825

1,744,517

2012
No.
2011
No.
Weighted average number of ordinary shares for basic
earnings per share 25,158,827 22,678,060
Effect of dilution:
Issue of shares Ward Consulting Services
Share options
284,870
-
-
200,000

Weighted average number of ordinary shares adjusted for the
effect of dilution

25,443,697

22,878,060

There have been no other transactions involving ordinary shares or potential ordinary shares between
the reporting date and the date of completion of these financial statements.

NOTE 9: DIVIDENDS
Consolidated Group
2012
$
2011
$
Dividends paid:
Final 2012 franked dividend of 3.72 cents per share 933,977 -
Final 2011 franked dividend of 4.36 cents per share - 469,674

933,977 469,674
Proposed interim 2013 franked dividend of 3.55 cents per share
(interim 2012 franked dividend of 3.48 cents per share) 898,396 872,260

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NOTE 9: DIVIDENDS (continued)

Tax rates
The tax rate at which paid dividends have been franked is 30% (2011: 30%). Dividends proposed will
be franked at the rate of 30% (2012: 30%).

NOTE 10: ISSUED CAPITAL AND RESERVES
Consolidated Group
2012
$
2011
$
Fully paid ordinary shares 4,329,671 3,979,171
4,329,671 3,979,171

Consolidated Group
6 mth to 31
December
2012
No.
6 mth to 30
June 2012

No.
a. Ordinary Shares (number)
At the beginning of the reporting period: 25,064,945 25,064,945
Movement in the year:
- Share issue Ward Consulting acquisition
- Conversion of option exercised by Moss Capital
41,976
200,000
-
-

At the end of the reporting period 25,306,921 25,064,945

Consolidated Group
2012
$
2011
$
b. Ordinary Shares ($)
At the beginning of the reporting period: 3,979,171 3,979,171
Movement in the year
- Share issue Ward Consulting acquisition 75,500 -
- Conversion of option exercised by Moss Capital Pty Limited
- Share based payment^
240,000
35,000
-
-

At the end of the reporting period 4,329,671 3,979,171

^- upon exercise of the option by Moss Capital Pty Limited the $35,000 share based payment transaction
reserve was transferred to ordinary equity. The share based payment transaction reserve was used to recognise
the value of an equity-settled share based payment transaction provided to Moss Capital Pty Limited as part of
their consideration for provision of IPO consultancy services.

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Ordinary shares participate in dividends and the proceeds on winding-up of the parent entity in proportion to the
number of shares held.

NOTE 10: ISSUED CAPITAL AND RESERVES (continued)

At the shareholders meetings each ordinary share is entitled to one vote when a poll is called, otherwise each
shareholder has one vote on a show of hands.

NOTE 11: EVENTS AFTER THE REPORTING PERIOD

On 18 February 2013, the directors of Energy Action Limited declared an interim dividend on ordinary
shares in respect of the 6 months to 31 December 2012. The total amount of the dividend is $898,396
which represents a fully franked dividend of 3.55 cents per share. The dividend has not been provided
for in the 31 December 2012 financial statements.

No other matters or circumstances have arisen since the end of the half - year which significantly
affected or could significantly affect the operations of the consolidated group, the results of those
operations, or the state of affairs of the consolidated group in future financial years.
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Directors Declaration
In accordance with a resolution of the Directors of Energy Action Limited, I state that:

In the opinion of the Directors:

a. The financial statements and notes of Energy Action Limited for the half - year ended
31 December 2012 are in accordance with the Corporations Act 2001, including:

I. giving a true and fair view of its financial position as at 31 December
2012 and performance

II. complying with Accounting Standard AASB 134 Interim Financial
Reporting and the Corporations Regulations 2001

b. There are reasonable grounds to believe that the Company will be able to pay its
debts as and when they become due and payable

On behalf of the board

Valerie Duncan
Director

18 February 2013

Liability limited by a scheme approved under
Professional Standards Legislation

To the members of Energy Action Limited
Report on the Half-Year Financial Report

Report on the financial report
We have reviewed the accompanying half-year financial report of Energy Action Limited, which comprises
the condensed statement of financial position as at 31 December 2012, the condensed statement of
comprehensive income, condensed statement of changes in equity and condensed statement of cash flows
for the half-year ended on that date, notes comprising a summary of significant accounting policies and
other explanatory information, and the directors declaration of the consolidated entity

The consolidated
entity comprises the company and the entities it controlled at the half-year end or from time to time during
the half-year.

Directors Responsibility for the Half-Year Financial Report
The directors of the company are responsible for the preparation of the half-year financial report that gives
a true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001.
The directors are also responsible for such internal controls that the directors determine are necessary to
enable the preparation of the half-year financial report that is free from material misstatement, whether
due to fraud or error.
Auditors Responsibility
Our responsibility is to express a conclusion on the half-year financial report based on our review. We
conducted our review in accordance with Auditing Standard on Review Engagements ASRE 2410 Review of
Interim and other Financial Reports Performed by the Independent Auditor of the Entity, in order to state
whether, on the basis of the procedures described, we have become aware of any matter that makes us
believe that the financial report is not in accordance with the Corporations Act 2001; and complying with
Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001. As
the auditor of Energy Action Limited and the entities it controlled during the half-year, ASRE 2410 requires
that we comply with the ethical requirements relevant to the audit of the annual financial report.
A review of a half-year financial report consists of making enquiries, primarily of persons responsible for
financial and accounting matters, and applying analytical and other review procedures. A review is
substantially less in scope than an audit conducted in accordance with Australian Auditing Standards and
consequently does not enable us to obtain assurance that we would become aware of all significant matters
that might be identified in an audit. Accordingly, we do not express an audit opinion.
Independence
In conducting our review we have met the independence requirements of the Corporations Act 2001. We
have given to the directors of the company a written Auditors Independence Declaration, a copy of which
is included in the directors report.

2
Conclusion
Based on our review, which is not an audit, we have not become aware of any matter that makes us believe
that the half-year financial report of Energy Action Limited is not in accordance with the Corporations Act
2001, including:
a. giving a true and fair view of the consolidated entitys financial position as at 31 December 2012
and of its performance for the half-year ended on that date; and
b. complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations
Regulations 2001.

Ernst & Young

Schalk Barnard
Partner
Sydney
18 February 2013

2013 - 02 - 19 - Amended Half Yearly Report and Accounts

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Energy Action Limited ABN 90 137 363 636

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