Skewb offers a holistic approach, providing services in challenges such as, leakage, connections, digital capabilities, street works, works and field force management and water and energy efficiency. This is an exciting opportunity to invest in their expansion.
Driven to transform water and energy utilities by providing a holistic approach to problems within the industry
We stand out from the sector because we don’t apply theoretical models or force fit solutions, we deliver our services based on our experience of what works, and in a way we know is achievable. We are a team of industry experts. We have lived and breathed the utility sector. We seek to address the key challenges faced by the sector by developing long term sustainable partnerships with our clients, to positively disrupt the industry. We thrive on passion, integrity, simplicity, collaboration and excellence and this is why we believe we have been successful in our endeavours.
SKEWB is a value driven company. Outcome focussed, integrity, simplicity, co-creation and citizenship is what we stand for and how we work with our clients. Our commitment to these values has resulted in our growth. We are raising funds as we have seen an increase in demand. Funds raised will be for working capital and our upcoming projects.
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.
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.
Where will the funds go?
"Driven to transform water and energy utilities by providing a holistic approach to problems within the industry"