Yü Group Reports 19% Revenue Growth to £405m and 43% Surge in Meter Points in H1 2026

Robust Revenue Growth Outpaces Previous Year Despite Seasonal Challenges

Yü Group achieved a significant acceleration in revenue growth during H1 2026, reporting approximately £405 million compared to £341 million in H1 2025, representing a 19% year-on-year increase. This outpaces the 9% growth recorded in the first half of 2025, underscoring the success of the company's strategic initiatives to capture market share within the UK corporate energy sector. The growth occurred despite a warmer-than-expected winter, which typically suppresses energy consumption, indicating that customer acquisition and contract expansions primarily drove the revenue increase.

Management confirmed that these results met internal forecasts, demonstrating strong operational discipline and forecasting accuracy. The company's ability to expand revenues amid adverse seasonal conditions highlights the resilience of its customer relationships and the effectiveness of its digital-first service model in the competitive corporate energy supply market. Serving a £50 billion-plus addressable market focused solely on corporate clients, Yü Group positions itself as a specialist challenger to larger incumbents, tailoring offerings to mid-market and enterprise businesses seeking dependable energy partnerships.

Contract Book Growth Enhances Revenue Visibility Through 2027

The contract book grew 45% to £1.7 billion during H1 2026, up from £1.2 billion in H1 2025, exceeding management expectations. Approximately £0.7 billion of this represents revenue already secured for 2027, accounting for nearly 41% of the forward contract book. This strong forward revenue commitment reduces execution risks and provides earnings visibility as the company advances through 2026 and into 2027.

The contract book expansion reflects successful new customer wins and robust retention efforts. In the competitive UK business energy market, securing multi-year contracts mitigates price volatility and customer churn risks. This growth supports Yü Group's three-year strategy to capture 7–9% of the UK corporate energy market by 2028, creating predictable revenue streams and enabling infrastructure and service investments.

Meter Point Portfolio Reaches 153,000 Units, Marking Seventh Consecutive Growth Period

Yü Group reported a 43% increase in meter points in H1 2026, reaching 153,000 units from 107,000 in H1 2025. Adding 46,000 meter points in six months highlights strong customer acquisition and effective onboarding. This marks the seventh consecutive period of meter point growth, evidencing sustained market share gains from larger incumbents rather than one-off wins.

Meter points are a key metric for energy suppliers, representing customer locations and billing relationships. The 43% growth rate significantly exceeds typical industry expansion, indicating Yü Group's disproportionate market share gains. The company’s ability to grow meter points while maintaining or improving margins demonstrates operational leverage and cost efficiency. Management’s target of 7–9% UK corporate market share by 2028 suggests this growth trend will continue or accelerate.

Yü Smart Division Boosts Meter Installations by 27%

Yü Smart, the group's smart meter installation and asset ownership arm, installed 12,000 meters in H1 2026, a 27% increase over 9,000 in H1 2025. Momentum remains strong heading into H2, reflecting rapid operational scaling since the division's 2023 launch. This aligns with corporate customers’ transition to smart meters, enabling Yü Group to capture installation revenues and ongoing asset ownership benefits.

The owned meter fleet grew 37% year-on-year to approximately 55,000 units, up from 37,000 in H1 2025. This asset base generates recurring indexed annuity income, which rose to £3.0 million in H1 2026 from £1.8 million in H1 2025—a 2.5x increase. This growing annuity stream enhances earnings quality and predictability, complementing installation revenues and diversifying the business model beyond traditional energy supply margins.

Cash Position Strengthens to £129 Million Amid Strategic Digital Investments

Yü Group’s gross cash balance increased 9% to £129 million as of 30 June 2026, up from £118 million a year earlier. This growth occurred despite significant investments in personnel, systems, and organizational changes supporting the three-year plan to achieve 7–9% UK market share by 2028. Strong operating cash flows are funding these strategic initiatives while building cash reserves.

Investments align with the "Digital by Default" strategy, enhancing capacity to serve large corporate volumes efficiently. Talent acquisition and retention remain priorities, reflected in Yü Group’s fourth consecutive inclusion in The Sunday Times '100 Best Places to Work' and ranking 85th on the TIME Growth Leaders 2026 list. Robust cash generation and disciplined capital deployment indicate management’s confidence in the business model’s sustainability without external equity or debt financing.

Shell Trading Hedging Facility Extended to 2032 Supports Long-Term Growth

In May 2026, Yü Group extended its hedging facility with Shell Trading through 2032, providing long-term price protection for energy procurement. This extension signals strong counterparty confidence and eliminates near-term refinancing risk. Long-duration hedging enables fixed-price customer contracts with stable margins, underpinning the company’s ambitious growth plans through 2028.

The facility’s competitive terms allow profitable contract structuring while managing risk. Publicizing the extension may boost customer confidence in Yü Group’s supply chain stability and contract fulfillment capabilities.

2026 Guidance Reaffirmed Despite Geopolitical and Weather Headwinds

Management reaffirmed full-year 2026 EBITDA, EPS, and operational meter targets remain on track despite challenges from the Iran war and warmer weather reducing energy consumption. These headwinds highlight geopolitical and seasonal risks, yet the company’s underlying momentum remains resilient.

Confidence in the "Digital by Default" strategy’s operational leverage supports margin improvements and cost discipline. Fixed costs spread over a growing customer base improve unit economics. Yü Group’s 47% compound annual growth rate over four years, alongside margin gains, validates this leverage and growth model.

Positioning in the £50 Billion UK Corporate Energy Market

Yü Group operates exclusively in the UK corporate energy supply sector, a £50 billion-plus market considerably larger than the residential segment and offering higher margins due to corporate customer creditworthiness. The company’s focused approach contrasts with incumbents serving both consumer and business markets, enabling tailored service and sales strategies.

Targeting 7–9% market share by 2028 positions Yü Group among the top five or six corporate suppliers. Its 47% CAGR outpaces market growth, indicating share gains from competitors. Consistent margin and profitability improvements suggest competitive advantages in digital services, pricing, and customer relationships. The warmer winter’s limited impact on growth further underscores contract durability and customer loyalty.

Interim Results Scheduled for 22 September 2026

Yü Group will publish interim results for the six months ended 30 June 2026 on Tuesday 22 September 2026. The detailed financial statements will provide insights into balance sheet, cash flow, segment performance, and management commentary on market conditions and forward guidance, aiding investor analysis ahead of full-year results.

Investors should note this trading update is preliminary and unaudited. Figures such as £405 million revenue and 153,000 meter points are subject to audit and may be revised or clarified in the interim results.