Yu Group PLC Trading Update (1871Z)
13 Setembro 2022 - 3:01AM
UK Regulatory
TIDMYU.
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 GBP4.7m. 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
Bobby Kalar
Paul Rawson +44 (0) 115 975 8258
Liberum - Nominated Adviser
and Broker Edward Mansfield
William Hall
Cara Murphy +44 (0) 20 3100 2000
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Tulchan Group
Giles Kernick
Olivia Peters +44 (0) 20 7353 4200
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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 GBP50bn addressable market Yü Group continues to
deliver on the medium term goal of GBP500m of revenues with an
adjusted EBITDA margin in excess of 4%.
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END
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September 13, 2022 02:01 ET (06:01 GMT)
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