Slide 1: FY25 Preliminary Results
FY25 Preliminary Results June 2025
Slide 2: FY25 Preliminary Results agenda
FY25 Preliminary Results • Part one: FY25 highlights Stuart Burnett - CEO • Part two: financial performance Nick Schoenfeld - CFO • Part three: outlook & future growth Stuart Burnett - CEO • Q&A 2
Slide 3: Three key takeaways
FY25 Preliminary Results Three key takeaways Compounding double-digit % ~15% customer growth and Cross-sell trial partnership growth in customers £132-138m Adj PBT in FY26 with Talktalk Driven by unique subscription-style Continued profitable double digit Exciting opportunity for cross-sell to multis
Slide 4: FY25 Performance Highlights
FY25 Performance Highlights Stuart Burnett, CEO 4
Slide 5: FY25 highlights: A record year on all fronts
FY25 highlights A record year on all fronts Customers >12.5% annualised organic customer growth, with ~25k Mar 25 1,163,608 additional customers acquired from TalkTalk in +15.0% cross-sell partnership Mar 24 1,011,489 Gross Profit FY 25 £358.1m Modest increase due to customer growth offset by +0.8%
Slide 6: FY25 - 15% growth in a competitive market
FY25 - 15% growth in a competitive market Delivering double-digit growth in all market conditions Competitive but rational energy market Customers (‘000s) Adjusted PBT (£m) o All major suppliers seeking to acquire new customers o Rational pricing reflects low regulatory EBIT margin 15.3% 22.5% o Chur
Slide 7: Our Unique platform for subscription-style home services
Our Unique platform for subscription-style home services Supported by award winning customer service which leads to high-value loyal customers Unique Unique multiservice 2 structural 1 platform cost advantage Which helps customers Which we reinvest to unlock navigate signing up for the ultimate reco
Slide 8: Our Unique platform for subscription-style home services
Our Unique platform for subscription-style home services Supported by award winning customer service which leads to high-value loyal customers Unique Unique multiservice 2 structural 1 We help platform people stop cost advantage wasting time and money Which helps customers Which we reinvest to unloc
Slide 9: Driving growth through our multiservice proposition
Driving growth through our multiservice proposition Enhancements to our Customer Proposition Energy Broadband Mobile Cashback card Which? Recommended Energy Which? Recommended New multi-SIM offering Cashback now on Apple & Provider Broadband Provider additional unlimited SIMs Google Pay with over 10
Slide 10: Insurance - all set for scale up opportunity ahead
Insurance - all set for scale up opportunity ahead Now reintegrated into the customer journey - significant growth opportunity FY24 FY25 Medium term Strong growth in policy book in FY24 Modest fall in policy count whilst some Significant runway to scale: around 10% • 38% growth to 139k policies produc
Slide 11: Our Unique platform for subscription-style home services
Our Unique platform for subscription-style home services Supported by award winning customer service which leads to high-value loyal customers Unique Unique multiservice 2 structural 1 We help bundle people stop cost advantage wasting time and money Which helps customers Which we reinvest to unlock
Slide 12: Supporting UW's unique business model with AI and digital transformation
Supporting UW’s unique business model with AI and digital transformation AI and digital transformation in action helping improve efficiency FY25 FY26 Medium Term Improving operational efficiency Driving revenue growth Building UW’s WoM growth model • AI and digitisation contributed to a • Increasing
Slide 13: Our Unique platform for subscription-style home services
Our Unique platform for subscription-style home services Supported by award winning customer service which leads to high-value loyal customers Unique Unique multiservice 2 structural 1 We help bundle people stop cost advantage wasting time and money Which helps customers Which we reinvest to unlock
Slide 14: Team Purple - our unique route to market
Team Purple - our unique route to market 71,000+ multi-income earners in communities throughout the UK What they do: Refer UW to potential customers they know or meet • Guide prospects to the UW sign up journey • Overcome the inherent inertia in switching multiple services simultaneously • Unlock ou
Slide 15: Team Purple - only just getting started
Team Purple - only just getting started Structural ongoing tailwinds to this unique model High interest rates & cost of living • Cost of living continues to create challenges for consumers Team Purple key stats • 20k mortgage holders coming off fixed rate offers every week -> UW immediate income of u
Slide 16: Team Purple - Connectors
Team Purple - Connectors It pays to get connected What is it? Businesses refer their customers to our Partners • Partners sign up local businesses or community organisations as Connectors • Businesses introduce their customers to our Partners • Our Partners handle the engagement with customers Why i
Slide 17: Cross-sell trial partnership with TalkTalk
Cross-sell trial partnership with TalkTalk Partnership opens up exciting organic and inorganic growth opportunities Partnership agreed Cross-sell approach Future opportunity Partnership with TalkTalk Use of test cohorts to prove concept: Opportunity to cross-sell other UW • Agreed terms with TalkTal
Slide 18: Our Unique platform for subscription-style home services
Our Unique platform for subscription-style home services Supported by award winning customer service which leads to high-value loyal customers Unique Unique multiservice 2 structural 1 We help bundle people stop cost advantage wasting time and money Which helps customers Which we reinvest to unlock
Slide 19: Financial Performance
Financial Performance Nick Schoenfeld, CFO 21
Slide 20: Profit & loss (£m)
Profit & loss (£m) FY25 FY24 Variance 8% profit growth from double digit customer growth offset by lower energy prices Revenue 1,838 2,039 (10%) Gross profit 358 355 1% • Customer growth offset by lower energy prices Gross margin 19.5% 17.4% Distribution expenses (46) (51) (11)% % of revenue 2.5% 2.5%
Slide 21: Balance sheet (£m)
Balance sheet (£m) 31 Mar 25 31 Mar 24 Variance vs 31 Mar 24 See notes on the cash flow slide Fixed assets 31 35 (3) Non-current assets 205 195 10 Net current assets 130 125 5 (Net debt) (116) (123) 7 • Total debt facilities £330m: £205m RCF facilities to Nov 2028, private placements of £75m to 2030
Slide 22: Cashflow (£m)
Cashflow (£m) FY25 FY24 Net debt improved by £7m in FY25 Adjusted EBITDA 148 133 • Typical annual working capital consumption Working capital movement (15) (119) £25-£30m • Prior year included one-off working capital unwind as net debt normalised Taxation (31) (26) Capex (17) (12) • Part of H1 FY24
Slide 23: Looking ahead - capital allocation
Looking ahead - capital allocation Double-digit profit growth converting into growing distributable cash Capital light business model Dividend track record • Limited working capital consumption as we grow • Capital expenditure largely restricted to ongoing technology investment £10m buyback FY24 o Hi
Slide 24: Outlook
Outlook Stuart Burnett, CEO 26
Slide 25: Medium term goal - Scaling from 1m to 2m customers
Medium term goal - Scaling from 1m to 2m customers 97 out of every 100 UK households is with another supplier… 7th largest residential supplier of electricity in the UK 27 UK energy market supplier share by residential electricity supply points (Source: Cornwall Insights, as at 30 April 2025)
Slide 26: Looking ahead - customer growth
Looking ahead - customer growth Proven record of delivering double-digit growth in all market conditions Number of Customers ~15% growth* A normalised Double digit growth in a normalised market energy market with 20+ suppliers Modest growth during price-war period 2015-2021 with irrational Market-le
Slide 27: Looking ahead - profit outlook
Looking ahead - profit outlook Double-digit customer growth converting into profit growth EBITDA / customer EBITDA / customer evolution • Historically ~£100 • FY25 £127 - high energy prices in Q1 of the prior year • Medium to mid £120s, in line with FY23-FY25 Long term = Adj PBT growing broadly in li
Slide 28: Outlook - an exciting time for the business with multiple opportunities
Outlook - an exciting time for the business with multiple opportunities What we expect… FY26 Medium to Longer term Double digit customer growth Building market share across core services: at 2m customers our • ~15% total customer growth including ~70k BB energy market share will still be just c.6%,
Slide 29: Questions & Answers
‘MillionYeses aR Questions & Answers
Slide 30: Three key takeaways
FY25 Preliminary Results Three key takeaways Compounding double-digit % ~15% customer growth and Cross-sell trial with former growth in customers £132-138m Adj PBT in FY26 TalkTalk customers Driven by unique subscription-style Continued profitable double digit Exciting opportunity for cross-sell mult
Slide 31: Supporting materials
Supporting materials Ye ls Utility Warehouse | TelecomPlus
Slide 32: Leading platform for subscription-style essential household services
Leading platform for subscription-style essential household services The UW platform difference Platform characteristics Platform benefits Integrated tech platform Integrated platform leaves UW in a unique position to leverage • Fully integrated platform able to scale to several its data and insight
Slide 33: All your home services in one
All your home services in one >1.1m households taking >3.3m services Energy Broadband Mobile Insurance 35
Slide 34: Telecom Plus investment case - significant cash generative growth ahead
Telecom Plus investment case - significant cash generative growth ahead As at year end 31/03/2025 Growth FY25 financial highlights • 15% customer growth in FY25, 12.6% organic growth • Revenue £1,838m • 8.5% growth in service numbers in FY25 • EBITDA £148m • Looming pensions crisis and work transitio
Slide 35: The UK's only multiservice provider
The UK’s only multiservice provider Energy Broadband Insurance Mobile 37
Slide 36: Vast organic growth opportunity
Vast organic growth opportunity 3% market share of energy ~1% of broadband and mobile Energy Broadband Market size Market size 29.8m 29.2m households premises Market size Market size 88.9m 8m subscribers homes Mobile Boiler / Home Assistance Cover 38 Souce: Cornwall Analysis (Energy), Ofcom and comp
Slide 37: Why customers choose us
Why customers choose us Ye ls Utili yen NES TelecomPlus 39
Slide 38: We make essential home services simpler, easier and better value
We make essential home services simpler, easier and better value Savings Simplicity Service The more services you take, Keep track of your household spend Award winning UK-based the more you save with one monthly bill customer service 40
Slide 39: Savings: Long-term, fair pricing
Savings Long-term, fair pricing Annual discount to £1,849 Price Cap Unlimited multi SIM competition price comparison 41 Pricing as at 17.05.25. Energy: dual fuel supply at the Ofgem standard domestic consumption profile. Source: Cornwall Insights. Mobile monthly cost of our unlimited multi-SIM tariff
Slide 40: Simplicity: One supplier. One bill.
Simplicity One supplier. One bill. 42
Slide 41: Service: Award-winning customer support
Service Award-winning customer support Citizens Advice energy supplier rankings Consistent third party endorsements 1st Q4 2024 1st 2nd 4th 4th Q3 2024 Q2 2024 Q1 2024 Q4 2023 43
Slide 42: Unique route to market
Unique route to market Ye ls Utility Warehouse | TelecomPlus 44
Slide 43: Word of mouth referrals
Word of mouth referrals Trusted, personal recommendations of our business Our community of 71,000+ Partners • Self-employed, part-time brand advocates • Role is simply to refer UW to potential customers • Provides informal access to less-engaged consumers • Grows the network by recruiting other Part
Slide 44: Our fundamental cost advantage
Our fundamental cost advantage 46
Slide 45: Our fundamental cost advantage
Our fundamental cost advantage One set of overheads, multiple revenue streams Single service competitors 4 sets of 1 set of overheads overheads vs 4 separate 4 combined revenue streams revenue streams 1 customer 1 customer 47
Slide 46: Key competitive advantages
Key competitive advantages The UK’s only genuine platform for subscription-style essential household services Subscription-style Word of mouth Long term multiservice route to market supply agreements customer proposition Our Partners: low cost, high quality, Sustainable relationships Technology enab
Slide 47: Supply agreements
Supply agreements Complementary route to market attractive to suppliers Benefits to our suppliers • Our incremental revenues maximise their infrastructure ROI • No marketing or customer service costs Energy • Access to a “disengaged” segment that they can’t reach • Leveraging our lower operating cost
Slide 48: Sustained long-term organic growth
Sustained long-term organic growth Customers Services 50 Figures in thousands, excluding TML. FY25 figures include c.25,000 customers acquired from a subsidiary of TalkTalk
Slide 49: Investment case
Investment case Ye OF & Utili yen NES TelecomPlus 51
Slide 50: Our core investment case
Our core investment case High-quality earnings, rapid organic growth and progressive shareholder returns UK’s only subscription-style platform for essential household services Structural cost advantage • Unique award-winning multiservice customer proposition • Multiple revenue streams but one set of
Slide 51: Benefits of a multiservice proposition
Benefits of a multiservice proposition Multiservice customers on our lowest energy tariffs are most valuable Single service 2 services 3 services 4 services Energy Energy Energy Energy Broadband Broadband Broadband Mobile Mobile Insurance Increasing customer lifetimes and financial contribution 53 Ty
Slide 52: Get in touch
Get in touch Utility Warehouse 508 Edgware Road London, NW9 5AB Telecomplus.co.uk 54
Slide 53: Disclaimer
Disclaimer The information contained in this presentation in respect of Telecom Plus PLC (the “Company”) and communicated during any delivery of the presentation, including the talks given by the presenters, any question and answer session and any document or material distributed at or in connection