Yü Group, the supplier of gas, electricity and water to the UK SME and corporate business sector, has reported “an exceptional trading performance, which is expected to continue beyond FY 22,” in a new trading update.
The Nottingham-based company says that 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 Yü Group’s digital by default transformation.
The firm noted that 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.
