Utilities Solutions business seeks funds for growth. | Skewb

Seeking to address key challenges faced by the Utility sector, Skewb develops long term sustainable partnerships with their clients to help improve the industry. This is through creating seamless communications between customers and their utility providers. They offer a holistic approach from providing services in challenges such as, leakage, connections, digital capabilities, street works, works and field force management and water and energy efficiency.

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Driven to transform water and energy utilities by providing a holistic approach to problems within the industry

We thrive on passion, integrity, simplicity, collaboration and excellence and this is why we believe we have been successful in our endeavours. We only employ the best and care about surrounding ourselves with like-minded and likeable individuals. They are passionate, practical and knowledgeable individuals and they are always finding ways to work better and efficiently, moreover making the ordinary extraordinary.

We provide a multitude of services from leakage, where we offer a holistic approach for a sustainable outcome, this includes using the most up-to-date technology to target the source of the problem such as Smart Forecasting, Smart Detection, Smart Validation, Smart Fix, Smart Measurement. Connections, where we design and implement processes end-to-end this includes enhancing the communications between businesses and customers. Digital capabilities, where we provide digital solutions from existing client enterprise systems and apply utilities-bespoke algorithms and Artificial Intelligence approaches. Street works, where we work with utilities and other promoters to optimise Street Works operations. In our Field and Work Management offer, we provide a cloud-based planning and scheduling platform to support the day to day management of the teams. We ensure that our team addresses all aspects from team structures and roles, to processes and procedures, performance and development. Finally, Water and Energy Efficiency, at Sweb, we prioritise water and energy usage levels and our experts help our clients help develop management strategies for demands, project management support for their action plans and implement the latest industry innovation.

There has been an increase in our demands and so we are raising funds for working capital and our upcoming projects.

COVID-Resilience:
https://bit.ly/3y4Yi64COVID-Resilience:
The business has not been affected by COVID. The construction industry has recovered 2.5% last year after the lockdowns, and GlobalData reports that the industry is expected to recover a further 5.2% by the end of this year.

https://bit.ly/3y4Yi64

Credit Comment:
The financial profile of the business is strong with EBITDA in March 2021 of c. £842k, compared to c. £620k in 2020 and c. £219k in 2019. Gross margin is declining, but this can be attributed to the increased use of contractors as the business grows. The company has no net debt and its total net worth stands at £1.1m after retained profit of £632k. The directors withdrew dividends and remuneration totalling £450k during the year. Although it’s a relatively young company, cash generation and retained profits are strong. The directors are providing a personal guarantee, this means that if the business fails the directors become personally liable for the loan. The directors are homeowners, however, this does not ensure there are sufficient assets should the loan need to be recovered. There have been no CCJs for the business or directors.

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