REG - Telecom Plus PLC - Telecom Plus PLC AGM Trading Update

Telecom PlusAnnouncement

Wed 07:05

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RNS Number : 1965U  Telecom Plus PLC  06 August 2025

6th August 2025

Telecom Plus PLC

AGM Trading Update

Telecom Plus PLC (trading as Utility Warehouse or UW), an integrated and
unique platform for subscription-style essential household services in the UK,
is holding its Annual General Meeting today. At the meeting the Chairman,
Charles Wigoder, will say:

"I am pleased to provide a trading update for this financial year, further to
our recent Annual Results Announcement on the 24(th) of June.

The business is continuing to perform well in a competitive market and we are
making good progress towards our medium term target of 2 million customers and
beyond.

The migration of the c.95k broadband and landline customers recently acquired
from TalkTalk onto our systems is on schedule. We are pleased with the results
from the initial trials we have been undertaking to upgrade and cross-sell
additional services to them utilising (inter alia) our network of Partners,
with encouraging early conversion rates.  Following these positive results,
we have recently acquired a further c.120k customers from TalkTalk, on similar
terms to the original cohort of c.95k customers, increasing the scope and
scale of the cross-sell opportunity. These additional customers will migrate
onto our systems during the second half of FY26.

Even without the cross-selling activities delivering any direct financial
contribution or other benefits, both cohorts of customers are expected to
deliver an IRR in excess of our post-tax WACC over the medium term, although
the financial benefits in the shorter term will be largely offset by
additional costs from onboarding the newly migrated customers, and incentives
related to our new cross-sell activities.

We are increasingly excited about the value we can generate over time by
acquiring relatively inexpensive single service customer bases, then enhancing
their lifetime value by leveraging both our unique proposition and Partner
channel to progressively increase the number of services we are supplying to
them.

We reiterate our previous FY26 financial guidance and, as a result of the
acquisition of the additional customers from TalkTalk, we now expect total
customer numbers to increase by around 25%."

 

For more information, please contact:

 Telecom Plus
 Stuart Burnett, CEO         0208 955 5000
 Nick Schoenfeld, CFO

 For Investor Relations
 Matthew Walker              matthew.walker@uw.co.uk

 For Media Relations
 Lansons Communications LLP  utilitywarehouse@lansons.com
 Ed Hooper                   07783 387713

 

About Telecom Plus PLC ("Telecom Plus"):

Telecom Plus, which owns and operates Utility Warehouse (UW), is
the UK's leading multiservice utility platform, offering a wide range of
subscription-style essential household services - energy, broadband, mobile
and insurance; all these services share similar characteristics where the
revenues and profitability are highly predictable, and where customers can be
expected to remain with us for an extended period once all their chosen
services have been successfully migrated.

Customers benefit from the convenience of a single monthly bill, consistently
good value across all their utilities and exceptional service levels.

Customers sign up through a national network of local UW Partners, who
recommend UW's services to friends, family and people they know.

Telecom Plus is listed on the London Stock Exchange (Ticker: TEP LN). For
further information please visit telecomplus.co.uk

LEI code: 549300QGHDX5UKE58G86

Cautionary statement regarding forward-looking statements

This Announcement may contain "forward-looking statements" with respect to
certain of the Company's plans and its current goals and expectations relating
to its future financial condition, performance, strategic initiatives,
objectives and results. Forward-looking statements sometimes use words such as
"aim", "anticipate", "target", "expect", "estimate", "intend", "plan", "goal",
"believe", "seek", "may", "could", "outlook" or other words of similar
meaning. By their nature, all forward-looking statements involve risk and
uncertainty because they are based on numerous assumptions regarding the
Company's present and future business strategies, relate to future events and
depend on circumstances which are or may be beyond the control of the Company
which could cause actual results or trends to differ materially from those
made in or suggested by the forward-looking statements in this Announcement,
including, but not limited to, domestic and global economic business
conditions; market-related risks such as fluctuations in interest rates; the
policies and actions of governmental and regulatory authorities; the effect of
competition, inflation and deflation; the effect of legislative, fiscal, tax
and regulatory developments in the jurisdictions in which the Company and its
respective affiliates operate; the effect of volatility in the equity, capital
and credit markets on profitability and ability to access capital and credit;
a decline in credit ratings of the Company; the effect of operational risks;
an unexpected decline in sales for the Company; any limitations of internal
financial reporting controls; and the loss of key personnel. Any
forward-looking statements made in this Announcement by or on behalf of the
Company speak only as of the date they are made. Save as required by the
Market Abuse Regulation, the Disclosure Guidance and Transparency Rules, the
Listing Rules or by law, the Company undertakes no obligation to update these
forward looking statements and will not publicly release any revisions it may
make to these forward-looking statements that may occur due to any change in
its expectations or to reflect events or circumstances after the date of this
Announcement.

 

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