REG - Yu Group PLC - Trading update

YuAnnouncement

28/11/2022 07:00

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RNS Number : 6986H  Yu Group PLC  28 November 2022

28 November 2022

Yü Group PLC

("Yü Group" or the "Group")

 

Trading Update

 

"Excellent trading performance, with full year financial metrics now
anticipated to be significantly ahead of market expectations"

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

The Group is pleased to announce an exceptional trading performance, which is
expected to continue beyond FY 22. Revenue, adjusted EBITDA and operational
cashflow are anticipated to significantly exceed current market expectations
for the year to 31 December 2022.

Record average monthly bookings from new and renewed customer contracts over
the last three months has resulted in the Board expecting revenue of
approximately £260m for FY 22, being a c67% annual growth rate.

EBITDA profitability is expected to continue its strong trajectory, with H2 22
expected to exceed the 2.1% achieved in H1 22, driven by strong demand and the
efficiencies of our digital by default transformation. This investment has
provided the platform to rapidly scale the business and derive the benefits of
operational leverage to enhance margins on an ongoing basis.

Operational cash flow remains strong, supported by increased EBITDA and robust
customer collection performance, with Overdue Customer Receivables remaining
stable and proportionate to the growth of the business. As a result, net cash
at 31 December 2022 is expected to significantly exceed market expectations.

The Group is in regular dialogue with BEIS, forming part of the BEIS supplier
forum committee and is pleased to have received its first monthly Energy Bills
Relief Scheme (EBRS) payment, in line with the Government's plan.

Further information will be provided as part of the Group's scheduled
announcement of FY 22 trading update and outlook for FY 23 in January 2023.

 

 

For further information, please contact:

 

 Yü Group PLC       +44 (0) 115 975 8258

 Bobby Kalar

 Paul Rawson
                    +44 (0) 20 3100 2000

 Liberum

 Edward Mansfield

 William Hall

 Cara Murphy

 Tulchan Group      +44 (0) 20 7353 4200

 Giles Kernick

 Alec Tidbury

 

 

 

 

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