Yü Group Plc (YU. LN) listed on the AIM Exchange in London is a multi-utility provider to small and medium sized business, as well as larger corporate customers across the UK. As a direct supplier of electricity, gas, water and other solutions such as electric vehicle (EV) charge points, smart meter installations and green energy solutions, Yü Group (YUG) provides a simple approach to a business's energy management offering competitive fixed-price, bundled utility plans. The certainty of utility costs supported by a strong commitment to customer service and product innovation is rapidly solidifying YUG as a trusted supplier in the £35b UK B2B utility market, with more than 3.5m business meter points.

Yu Group PLC

• 24 Sep 20
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2G Energy’s product portfolio of CHP systems positions it to benefit from the transition from coal and nuclear-powered electricity generation to increasing use of wind and solar sources augmented by natural gas to balance supply and demand. In the longer term, 2G has proven technology to address the potential switch from natural gas to hydrogen. However, there still will be significant demand for 2G’s bio-gas and natural gas powered systems if adoption of hydrogen as an energy storage medium is delayed or derailed.

2G Energy AG

• 22 Sep 20
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Augean has reported interims to 30 June 2020. With the first half bearing the full impact of Covid-19, adjusted PBT decreased by 11% to £8.5m, which is in line with our expectation. With radioactive wastes, biomass for EfW and construction impacted by lockdown and depressed activity levels in its North Sea services, due to the low oil price, the results demonstrate the resilience of the Group and also the benefit of its key position in its markets with strategically located hazardous waste treatment and disposal facilities in the UK. Whilst the statement highlights that full year results are expected to be broadly in-line with market expectations, we have conservatively reduced forecasts. Nevertheless, with strong cash generation and sustained growth EV/EBITDA falls to 5.3x and 4.1x for FY21E and FY22E, a level that is substantially below sector constituents and transaction valuations.

Augean Plc

• 21 Sep 20
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Filta Group (Filta) announced that it remained EBITDA-positive in 1H’20, despite most of its customers closing for part of the period. Business is returning as customers reopen, with sports stadia expected to be the last to resume catering. Filta has used the period to reduce costs and improve its business model. We expect it to emerge as an even better business when COVID-19 is tamed. Our 2020 forecasts remain suspended.

Filta Group Holdings Plc

• 16 Sep 20
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A strong start to the year was offset by global lockdowns, which significantly impacted trading. Subsequently, the gradual reopening of economies has meant that Filta has seen a month-on-month improvement in trading since April, and now expects to reach run-rate revenues at c70% of prior year levels by the end of FY20E. The strength of Filta's model has enabled it to withstand a severe shock to the business, and emerge with its operations and balance sheet intact, positioning it well to capitalise on growth opportunities as conditions normalise. Due to continued Covid-related uncertainty, we maintain our Hold recommendation, and are not re-instating forecasts at this stage.

Filta Group Holdings Plc

• 15 Sep 20
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Drax has announced additional loan facilities which will reduce its all-in cost of borrowing to below 4% and we see this as helping to give Drax the firepower to expand its US-based biomass feedstock business efficiently. We see this business as having growing importance as several governments look towards biomass carbon capture and storage as a key component of the net zero tool kit.

Drax Group Plc

• 15 Sep 20
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The securing of funding to take Powerhouse Energy to profitability and to advance its overseas development is a positive outcome in our view. While the dilution is more than we had originally factored in, the greater amount raised increases the possibility of higher valuations on the back of international growth. Our UK only base valuation falls to 5.0p from 6.0p but factoring some international progress would take this to 6.9p.

PowerHouse Energy Group Plc

• 09 Sep 20
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Edison Investment Research is terminating coverage on Abacus Health Products (ABCS), ADL Bionatur (BNT), ASIT Biotech (ASIT), GAME Digital (GMD), International Stem Cell Corporation (ISCO), Powerhouse Energy Group (PHE), Windar Photonics (WPHO). Please note you should no longer rely on any previous research or estimates for these companies. All forecasts should now be considered redundant. Previously published reports can still be accessed via our website.

PowerHouse Energy Group Plc

• 07 Sep 20
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