REG - Yu Group PLC - Trading Update

YuAnnouncement

13/09/2022 07:00

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RNS Number : 1871Z  Yu Group PLC  13 September 2022

This announcement contains inside information for the purposes of article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of domestic law by
virtue of the European Union (Withdrawal) Act 2018.

 

13 September 2022

 

 

Yü Group PLC

("Yü Group" or the "Group")

 

Trading Update

 

 

Strong financial performance ahead of expectations

 

Yü Group PLC, the independent challenger supplier of gas, electricity and
water to the UK SME and corporate business sector, today provides an update on
trading.

Adjusted EBITDA, operational cashflow and net profitability has significantly
exceeded management expectations, and the Board expects the strong performance
to continue for the remainder of the financial year. As such the Board expects
to deliver adjusted EBITDA in excess of £4.7m. Strong cash generation has
continued with cash balances ahead of management expectations even after the
payment of the annual ROC obligations in August. These results continue the
rapid progression of the Group's financial indicators since its restructuring
in 2019.

The Group's strong performance has been driven by its robust commodity hedging
position, margin enhancement through improved customer value propositions and
the positive impact of the Digital by Default strategy.

The Board continue to closely monitor the ability for customers to meet
increased prices; especially as we enter a period where customers
traditionally renew contracts and could see a significant price increase due
to the exceptionally high global commodity market prices. The Group will
continue to assist its customers and has begun engaging with BEIS to implement
the Government's business support package.

Further information will be provided as part of the Group's scheduled
announcement of interim results for the six months ended 30 June 2022 on
Tuesday 27 September 2022.

 

 

 Yü Group PLC                                               +44 (0) 115 975 8258
 Bobby Kalar

Paul Rawson
 Liberum - Nominated Adviser and Broker  Edward Mansfield   +44 (0) 20 3100 2000

 William Hall

 Cara Murphy

 Tulchan Group                                              +44 (0) 20 7353 4200
 Giles Kernick

 Olivia Peters

 

Notes to Editors

Information on the Group

Yü Group PLC, trading as Yü Energy, is a leading supplier of gas and
electricity focused on servicing the corporate sector throughout the UK. We
drive innovation through a combination of user-friendly digital solutions and
personalised, high quality customer service. The Group plays a key role
supporting businesses in their transition to lower carbon technologies with a
commitment to providing sustainable energy solutions.

Yü Group has a clear strategy to deliver sustainable profitable growth and
value for all of our stakeholders built on strong foundations and with a
robust hedging policy. In 2022 the Group launched Yü Smart to support growth
through new opportunities in smart metering and EV charge installation. With a
significant opportunity in a £50bn addressable market Yü Group continues to
deliver on the medium term goal of £500m of revenues with an adjusted EBITDA
margin in excess of 4%.

 

 

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