349: Bobby Kalar of Yü Group explains the energy market turbulence but is confident in their performance


Manage episode 302752285 series 2936804
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Bobby Kalar of Yü Group #YU. explains the current turbulence in the energy markets but is confident in their performance just ahead of posting their interim results.
Higlhights from Yü Group's Trading Update published on 8th July HERE

Financial and Operational review
- Significant revenue growth in H1, expected to increase by 41.6% on prior year, to approximately £65.0m (H1 2020: £45.9m), driven by strong organic growth from new bookings and increased customer demand.
- Average Monthly Bookings1 of £9.7m for H1 2021, an increase of 56.5% vs. H1 2020, with June recording a record monthly booking of £18.4m.
- Positive adjusted EBITDA2 expected for H1 2021, significantly improved from 2020 (H1 2020: £1.8m loss, H2 2020: £0.1m profit) as the Group delivers on its strategic objectives.
- Strong balance sheet with positive cash position at £11.5m, broadly flat during H1 2021 (31 Dec 2020: £11.7m) despite investment in new Leicester office, funded from Group cash, and early payment of a portion of industry liabilities otherwise due in H2 2021.
- Launch of new sales and innovation office, coupled with investment in digital technology, expected to enhance organic growth and EBITDA returns from FY 2022.
The Board is confident that the Group will meet FY 2021 market expectations.
With revenue of at least £65m for H1 2021, strong monthly bookings and aggregate forward contracted revenue secured at 30 June 2021 approximately 40% above that at 30 June 2020, FY 2021 revenue is expected to increase significantly from the £101.5m reported for FY 2020.
The Board expects to report a strong EBITDA performance for FY 2021, with further improvement into FY 2022 as the Group benefits from high scale benefits and its digital roll out.

About Yü Group

Trading as Yü Energy, is an independent supplier of gas, electricity and water focused on servicing the corporate sector throughout the UK. It has no involvement in the domestic retail market. The Group was listed on the AIM market of the London Stock Exchange in March 2016.

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