Yu Group PLC Trading update (6986H)
28 Novembro 2022 - 4:00AM
UK Regulatory
TIDMYU.
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 GBP260m 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
Bobby Kalar
Paul Rawson +44 (0) 115 975 8258
Liberum
Edward Mansfield
William Hall
Cara Murphy +44 (0) 20 3100 2000
Tulchan Group
Giles Kernick
Alec Tidbury +44 (0) 20 7353 4200
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END
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