Yu Group

YU. · AIM · Utilities · mcap £285m · 1645.0p

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Financials · LTM to 30 Jun 26

Source: results 22 Sep 26 ↗

Revenue: £764m
Operating profit: –
Net income: £35.2m
Free cash flow: £30.4m
Net cash: £116m
Market cap: £285m
EV / EBIT: –
FCF yield: +10.7%
Price / book: 2.8×

Latest half-year · H1 26 vs H1 25 results 22 Sep 26 ↗

Revenue: £405m
Net income: £15.9m
Cash from operations: £37.9m

Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.

As reported Key figures · multi-year

Income statement Balance sheet Cash flow

Latest interim Latest annual

Results for the six months to 30 June 2026, published 22 Sep 26 · read the announcement ↗

Condensed consolidated balance sheet · At 30 June 2026

	30 June 2026 (Unaudited) £’m	30 June 2025 (Unaudited) £’m	31 December 2025 (Audited) £’m
ASSETS
Non-current assets
Goodwill	2.0	0.2	2.0
Intangible assets	5.9	2.7	5.8
Property, plant and equipment	17.9	13.9	15.8
Right-of-use assets	1.4	1.1	1.0
Deferred tax assets	–	3.1	1.8
Trade and other receivables	35.7	14.1	24.5
	62.9	35.1	50.9
Current assets
Inventory	0.4	0.4	0.4
Trade and other receivables	122.0	91.7	117.7
Cash and cash equivalents	128.7	118.2	105.9
	251.1	210.3	224.0
Total assets	314.0	245.4	274.9
LIABILITIES
Current liabilities
Trade and other payables	(174.8)	(138.7)	(160.7)
Corporation tax payable	(0.8)	(0.3)	(3.0)
Borrowings	(0.6)	(0.4)	(0.5)
	(176.2)	(139.4)	(164.2)
Non-current liabilities
Trade and other payables	(22.1)	(17.0)	(3.1)
Deferred tax liability	(1.3)	–	–
Borrowings	(11.9)	(8.0)	(9.8)
	(35.3)	(25.0)	(12.9)
Total liabilities	(211.5)	(164.4)	(177.1)
Net assets	102.5	81.0	97.8
EQUITY
Share capital	0.1	0.1	0.1
Share premium	0.3	–	–
Retained earnings	102.1	80.9	97.7
	102.5	81.0	97.8

Condensed consolidated statement of cash flows · For the six months ended 30 June 2026

	6 months ended 30 June 2026 (Unaudited) £’m	6 months ended 30 June 2025 (Unaudited) £’m	12 months ended 31 December 2025 (Audited) £’m
Cash flows from operating activities
Profit for the financial period	15.9	16.6	35.9
Adjustments for
Depreciation of property, plant and equipment	0.6	0.5	1.0
Depreciation of right-of-use assets	0.4	0.4	0.8
Amortisation of intangible assets	0.7	0.5	1.1
Decrease / (increase) in trade and other receivables	2.2	7.2	(14.4)
Increase in customer acquisition costs	(17.3)	(3.8)	(19.1)
(Increase) / decrease in industry related deposits	(0.3)	(0.1)	0.6
(Decrease) / increase in trade and other payables	(7.3)	(13.7)	8.8
Increase in renewable obligation liability	41.1	33.2	17.4
National insurance on share options exercised	(1.9)	–	–
Finance income	(2.4)	(2.2)	(4.3)
Interest received	2.3	2.2	4.1
Finance costs	0.5	0.2	0.6
Interest paid	(0.1)	–	–
Taxation charge	5.8	6.0	12.8
Corporation tax paid	(4.2)	(8.3)	(11.1)
Share based payment charge	1.9	0.9	2.1
Net cash from operating activities	37.9	39.6	36.3
Cash flows from investing activities
Purchase of property, plant and equipment	(0.5)	–	(0.2)
Smart meter asset capital expenditure	(1.4)	(1.9)	(3.3)
Smart meter assets under construction	(0.8)	(0.1)	(1.0)
Payment of software development costs	(0.8)	(0.4)	(2.1)
Payment for acquisition of subsidiary, net of cash acquired	–	–	(2.2)
Net cash used in investing activities	(3.5)	(2.4)	(8.8)
Cash flows from financing activities
Borrowings drawn down	2.5	3.5	5.6
Interest paid on borrowings	(0.4)	(0.2)	(0.5)
Interest paid on lease obligations	–	–	(0.1)
Repayment of principal element of borrowings	(0.3)	(0.1)	(0.3)
Repayment of principal element of lease obligations	(0.5)	(0.5)	(0.9)
Net proceeds from share option exercises	0.8	–	–
Cash paid on repurchase of shares	(5.9)	–	–
Dividends paid	(7.8)	(6.9)	(10.6)
Net cash used in financing activities	(11.6)	(4.2)	(6.8)
Net increase in cash and cash equivalents	22.8	33.0	20.7
Cash and cash equivalents at the start of the period	105.9	85.2	85.2
Cash and cash equivalents at the end of the period	128.7	118.2	105.9

Final Results, published 17 Mar 26 · read the announcement ↗

The amortisation charge is recognised in operating costs in the income statement.


14. Property, plant and equipment
Cost
At 1 January 2025	1.7	0.8	14.1
Additions	2.3	0.1	4.5
Reclassification	(1.3)	-	-
At 31 December 2025	2.7	0.9	18.6
Depreciation
At 1 January 2025	-	0.6	1.8
Charge for the year	-	0.2	1.0
At 31 December 2025	-	0.8	2.8
Net book value at 31 December 2025	2.7	0.1	15.8
Cost
At 1 January 2024	-	0.7	5.8
Additions	3.3	0.1	8.3
Reclassification	(1.6)	-	-
At 31 December 2024	1.7	0.8	14.1
Depreciation
At 1 January 2024	-	0.4	1.1
Charge for the year	-	0.2	0.7
At 31 December 2024	-	0.6	1.8
Net book value at 31 December 2024	1.7	0.2	12.3
15. Right-of-use assets
Group Buildings £'m Motor vehicles £'m Total £'m
Cost
At 1 January 2025	0.2	2.8	3.0
Additions	-	-	-
Disposals	-	(0.5)	(0.5)
Lease modifications	-	0.2	0.2
At 31 December 2025	0.2	2.5	2.7
Depreciation
At 1 January 2025	-	1.2	1.2
Charge for the year	0.1	0.7	0.8
Disposals	-	(0.3)	(0.3)
At 31 December 2025	0.1	1.6	1.7
Net book value at 31 December 2025	0.1	0.9	1.0
Cost
At 1 January 2024	2.0	0.8	2.8
Additions	-	2.0	2.0
Disposals	(1.8)	-	(1.8)
At 31 December 2024	0.2	2.8	3.0
Depreciation
At 1 January 2024	0.8	0.3	1.1
Charge for the year	0.1	0.9	1.0
Disposals	(0.9)	-	(0.9)
At 31 December 2024	-	1.2	1.2
Net book value at 31 December 2024	0.2	1.6	1.8
16. Investments in subsidiaries
Company name Holding Proportion of shares held Nature of business
Yü Energy Holding Limited Ordinary shares Gas shipping services and holding company	100%
Yu Water Limited Ordinary shares Supply of water to businesses	100%
KAL Portfolio Trading Limited Ordinary shares Dormant/holding company	100%
Yü PropCo Leicester Ltd 2 Ordinary shares 100% 2 Property ownership
Yü PropCo Nottingham Ltd 2 Ordinary shares 100% 2 Property ownership
Yü-Smart Ltd Ordinary shares Smart metering installation and maintenance	100%
Yü Services Limited Ordinary shares Holding company	100%
Yü Innovate Limited Ordinary shares Holding company	100%
Toucan Energy Limited Ordinary shares Dormant energy licensed company	100%
1. Yü Energy Retail Limited is a subsidiary of Yü Energy Holding Limited.
3. Kensington Meter Assets Ltd is a subsidiary of Yü Services Limited.
17. Deferred tax assets
Deferred tax assets are attributable to the following
2025 £'m 2024 £'m
Property, plant and equipment	(2.1)	(0.8)
Share-based payments	3.9	3.6
	1.8	2.8
Movement in deferred tax in the period
Property, plant and equipment	(1.3)	-	(2.1)
Share-based payments	-	0.3	3.9
	(1.3)	0.3	1.8
Property, plant and equipment	(0.5)	-	(0.8)
Tax value of loss carry-forwards	(0.8)	-	-
Share-based payments	-	2.0	3.6
	(1.3)	2.0	2.8
18. Inventory
2025 £'m 2024 £'m
Stock of goods for resale	0.4	0.4
	0.4	0.4
19. Trade and other receivables
2025 £'m 2024 £'m
Current
Net trade receivables	21.5	16.0
Net accrued income	65.1	57.8
Prepayments	1.3	1.3
Costs to obtain customer contracts	16.1	9.7
Industry collateral deposits	6.4	7.0
Other receivables	7.3	5.3
	117.7	97.1
Non-current
Costs to obtain customer contracts	24.5	11.8
	24.5	11.8

Consolidated balance sheet · At 31 December 2025

	31 December 2025 £'m	31 December 2024 £'m
ASSETS
Non-current assets
Goodwill	2.0	0.2
Intangible assets	5.8	2.8
Property, plant and equipment	15.8	12.3
Right-of-use assets	1.0	1.8
Deferred tax assets	1.8	2.8
Trade and other receivables	24.5	11.8
Investment in subsidiaries	-	-
	50.9	31.7
Current assets
Inventory	0.4	0.4
Trade and other receivables	117.7	97.1
Cash and cash equivalents	105.9	85.2
	224.0	182.7
Total assets	274.9	214.4
LIABILITIES
Current liabilities
Trade and other payables	(160.7)	(133.7)
Corporation tax payable	(3.0)	(2.5)
Borrowings	(0.5)	(0.2)
	(164.2)	(136.4)
Non-current liabilities
Trade and other payables	(3.1)	(2.9)
Borrowings	(9.8)	(4.8)
	(12.9)	(7.7)
Total liabilities	(177.1)	(144.1)
Net assets	97.8	70.3
EQUITY
Share capital	0.1	0.1
Share premium	-	-
Merger reserve	-	-
Retained earnings	97.7	70.2
	97.8	70.3

Consolidated statement of cash flows · For the year ended 31 December 2025

	31 December 2025 £'m	31 December 2024 £'m
Cash flows from operating activities
Profit for the financial year	35.9	33.5
Adjustments for
Depreciation of property, plant and equipment	1.0	0.7
Depreciation of right-of-use assets	0.8	1.0
Amortisation of intangible assets	1.1	0.8
Decrease in inventory	-	0.2
Increase in trade and other receivables	(14.4)	(11.2)
Increase in customer acquisition costs	(19.1)	(12.3)
Decrease / (increase) in industry related deposits	0.6	(2.6)
Decrease in cash collateral for commodity trading arrangements	-	49.8
Increase / (decrease) in trade and other payables	8.8	(4.9)
Increase in renewable obligation liability	17.4	13.5
National Insurance on share options exercised	-	(0.6)
Finance income	(4.3)	(4.2)
Interest received	4.1	4.1
Finance costs	0.6	0.6
Taxation charge	12.8	11.0
Corporation tax paid	(11.1)	(11.3)
Share-based payment charge	2.1	4.0
Net cash from operating activities	36.3	72.1
Cash flows from investing activities
Purchase of property, plant and equipment	(0.2)	(2.2)
Smart meter asset capital expenditure	(3.3)	(4.5)
Smart meter assets under construction	(1.0)	(1.7)
Payment of software development costs	(2.1)	(1.3)
Payment for acquisition of subsidiary, net of cash acquired	(2.2)	-
Net cash used in investing activities	(8.8)	(9.7)
Cash flows from financing activities
Borrowings drawn down	5.6	4.6
Interest paid on borrowings	(0.5)	(0.2)
Interest paid on lease obligations	(0.1)	(0.2)
Repayment of principal element of borrowings	(0.3)	(0.1)
Repayment of principal element of lease obligations	(0.9)	(0.8)
Net proceeds from share option exercises	-	0.4
Cash paid on repurchase of shares	-	(4.0)
Dividends paid	(10.6)	(9.4)
Net cash used in financing activities	(6.8)	(9.7)
Net increase in cash and cash equivalents	20.7	52.7
Cash and cash equivalents at the start of the year	85.2	32.5
Cash and cash equivalents at the end of the year	105.9	85.2

As published in the company's results announcement: every line, heading and subtotal, read automatically from the text. Figures in brackets are negative; units as stated in the column headings.

Income statement Cash flow Balance sheet

Annual Half-yearly

Latest report: H1 26 (six months to 30 Jun 26), published 22 Sep 26 · read the results ↗

£m unless stated · newest first · italic = calculated (LTM, H2 = FY − H1) · hover a value for its source

	LTM Jun 26	FY 25	FY 24
Revenue to operating profit
Revenue	764.0	700.0	646.0
Adjusted EBITDA	51.3	50.6	48.8
Depreciation (owned assets)	1.1	1.0	0.7
Depreciation (right-of-use)	0.8	0.8	1.0
Amortisation	1.3	1.1	0.8
Share-based payments	3.1	2.1	4.0
Operating profit to net income
Finance costs	0.9	0.6	–
Profit before tax	48.0	49.0	45.0
Net income (owners)	35.2	35.9	–
Per share
EPS basic	209.0p	214.0p	200.0p
Dividend per share	69.0p	67.0p	60.0p

	H1 26	vs H1 25	H2 25	H1 25
Revenue to operating profit
Revenue	405.0	+19%	359.0	341.0
Adjusted EBITDA	23.6	+3%	27.7	22.9
Depreciation (owned assets)	0.6	+20%	0.5	0.5
Depreciation (right-of-use)	0.4	0%	0.4	0.4
Amortisation	0.7	+40%	0.6	0.5
Share-based payments	1.9	+111%	1.2	0.9
Operating profit to net income
Finance costs	0.5	+150%	0.4	0.2
Profit before tax	22.0	−4%	26.0	23.0
Net income (owners)	15.9	−4%	19.3	16.6
Per share
EPS basic	93.0p	–	116.0p	98.0p
Dividend per share	24.0p	–	45.0p	22.0p

	LTM Jun 26	FY 25	FY 24
Operating activities
Cash from operations	34.6	36.3	72.1
Interest paid	(0.7)	(0.5)	–
Tax paid	(7.0)	(11.1)	(11.3)
Investing activities
Capex (PP&E)	(0.7)	(0.2)	(2.2)
Capex (intangibles)	(2.5)	(2.1)	(1.3)
Financing activities
Lease principal paid	(0.9)	(0.9)	(0.8)
Lease interest paid	(0.1)	(0.1)	(0.2)
Dividends paid	(11.5)	(10.6)	(9.4)
Share buybacks	(5.9)	0.0	(4.0)
Shares issued	0.8	0.0	0.4

	H1 26	vs H1 25	H2 25	H1 25
Operating activities
Cash from operations	37.9	−4%	(3.3)	39.6
Interest paid	(0.4)	+100%	(0.3)	(0.2)
Tax paid	(4.2)	−49%	(2.8)	(8.3)
Investing activities
Capex (PP&E)	(0.5)	n/m	(0.2)	0.0
Capex (intangibles)	(0.8)	+100%	(1.7)	(0.4)
Financing activities
Lease principal paid	(0.5)	0%	(0.4)	(0.5)
Lease interest paid	0.0	n/m	(0.1)	0.0
Dividends paid	(7.8)	+13%	(3.7)	(6.9)
Share buybacks	(5.9)	n/m	0.0	0.0
Shares issued	0.8	n/m	0.0	0.0

	Latest Jun 26	FY 25	FY 24
Non-current assets
Goodwill	2.0	2.0	0.2
Other intangibles	5.9	5.8	2.8
Property, plant & equipment	17.9	15.8	12.3
Non-current assets	62.9	50.9	31.7
Current assets
Inventories	0.4	0.4	0.4
Trade receivables	122.0	117.7	97.1
Cash	128.7	105.9	85.2
Current assets	251.1	224.0	182.7
Total assets	314.0	274.9	214.4
Current liabilities
Trade payables	174.8	160.7	133.7
Borrowings, current	0.6	0.5	0.2
Current liabilities	176.2	164.2	136.4
Non-current liabilities
Borrowings, non-current	11.9	9.8	4.8
Non-current liabilities	35.3	12.9	7.7
Total liabilities	211.5	177.1	144.1
Equity
Total equity	102.5	97.8	70.3

	H1 26	H2 25	H1 25	H2 24
Non-current assets
Goodwill	2.0	2.0	0.2	0.2
Other intangibles	5.9	5.8	2.7	2.8
Property, plant & equipment	17.9	15.8	13.9	12.3
Non-current assets	62.9	50.9	35.1	31.7
Current assets
Inventories	0.4	0.4	0.4	0.4
Trade receivables	122.0	117.7	91.7	97.1
Cash	128.7	105.9	118.2	85.2
Current assets	251.1	224.0	210.3	182.7
Total assets	314.0	274.9	245.4	214.4
Current liabilities
Trade payables	174.8	160.7	138.7	133.7
Borrowings, current	0.6	0.5	0.4	0.2
Current liabilities	176.2	164.2	139.4	136.4
Non-current liabilities
Borrowings, non-current	11.9	9.8	8.0	4.8
Non-current liabilities	35.3	12.9	25.0	7.7
Total liabilities	211.5	177.1	164.4	144.1
Equity
Total equity	102.5	97.8	81.0	70.3

Line items extracted automatically from each results announcement; when a later report restates a period, the later figure is shown. LTM and H2 are calculated from reported periods. Check the source before relying on a figure.

Company filings. Not investment advice.