Reflecting on Utilities One's first half of 2023 reveals a compelling record of substantial achievement. These successes are not merely statistical; they represent the diligence of our team and the manifestation of a meticulously executed strategic plan. As we continue on this path of success, we are met with promising prospects for a future defined by clear objectives and a strategic vision.

Unveiling a New Era of Engineering

In H1 2023, the Telecom Engineering segment of Utilities One spearheaded a significant shift. Guided by a progressive mentality, the team launched an innovative operational model to enhance structural efficiency and underpin a series of robust service lines. These include Permit Application/UG Profiles, MDU Design, Traffic Control Permitting, and Construction/Wireless support, all of which exemplify Utilities One's relentless pursuit of diversity and enhancement.

Further exploration reveals astonishing results from these concerted efforts. A notable 3 million feet of fiber design and 4,000 Katapult Make Ready 0-Calc poles stand as a testament to Utilities One's extraordinary capacity for execution and innovation. Each fiber length and pole contributes to a milestone in our remarkable journey.

Building a Framework for Success

The Telecom - Construction division of Utilities One demonstrates a remarkable narrative of success, showcasing our keen ability to attract new clients and expand our operations. Adding seven new clients and securing three influential National Contracts have dramatically increased the company's reach and market presence.

However, our accomplishments extend beyond growth – they highlight an unprecedented hyper-growth rate. We have laid down an impressive 4 million feet of fiber, marking a substantial 235% YoY increase. Alongside a 298% surge in revenue, these figures vividly depict Utilities One's ambitious expansion strategy and its effective implementation.

Strengthening Relationships and Overcoming Challenges

In the Wireless division, we have deepened client relationships, reflecting Utilities One's customer-focused ethos. This client-centered approach is integral to our ongoing success.

As part of this approach, Utilities One has strived for operational excellence, adopting an efficient organizational structure to coordinate in-house crews, subcontractors, and training/certification/equipment. This seamless orchestration has resulted in a significant boost in productivity.

Prioritizing Efficiency and Safety

In Power Operations, we have written a remarkable narrative of efficiency and safety. A significant 57% increase in billing in the South and an overall 20% growth, coupled with a commendable sub-45-day Receivable average, confirm our company's efficient operations.

Simultaneously, the introduction of a Power safety handbook, completion of OSHA-10 training, and a commendable record of zero workplace injuries underscore Utilities One's commitment to safety. This steadfast focus on the welfare of our team demonstrates our operational values.

Planning for a Promising Future

Looking forward, Utilities One's strategic goals for FY 2023 present a promising vision of continued growth and innovation. Each division, from Telecom Engineering and Construction to Wireless and Power Operations, is paving a path toward clear strategic objectives. These include enhanced production, improved quality, and superior performance, supported by robust safety protocols.

As we navigate this exciting intersection of ambition and strategy, Utilities One shines as a success story in the industry. Our company's narrative is not just one to be observed – it's an exciting journey to be a part of, offering a wealth of insights ready to be discovered in H2 2023, 2024, and beyond.

Key Takeaways

• H1 2023 saw Utilities One achieving strategic success and substantial growth.

• Innovative operational models diversified Telecom Engineering, resulting in 3M feet of fiber design.

• Telecom Construction expanded with a 235% YoY fiber increase and a 298% revenue surge.

• The Wireless division's customer-centric approach deepened client relationships and boosted productivity.

• Power Operations increased billing by 57% in the South, with an emphasis on efficiency and safety.

• FY 2023 strategic plans highlight continued growth and innovation across all divisions.

• Utilities One, blending ambition and strategy, is set for further growth in H2 2023 and beyond.