Bulb reports £129 million loss

Bulb have filed their accounts for the past financial year, and their losses have increased by over £100m
This is not sustainable. You can see that they are barely making any profit on the energy and therefore the operating costs are money down the drain.
If Bulb can’t sort this out then it’s going to be bad news for their customers but also for renewable energy as a whole.

1 Like

See Bulb are a little late by all accounts

1 Like

Time to switch I think unless whoever buys them out can provide energy at the same price.
Let’s face it, the customer service can only get better.

Does this mean they are on the brink of going bust??? Replies are warmly invited.

Bulb were expecting to make this amount of loss. :wink:

2 Likes

No.

need more characters…

1 Like

I do not believe a company can lose 130 Mil and still exist

I think maybe they have invested and built a customer base and will drop the £50 referral and make money that way.

1 Like

Companies borrow money against their market capitalisation all the time. Wikipedia suggests that Bulb Energy is worth between £400M and £500M as of 18 months ago. It’ll be more than that now. If we assume the £500M upper limit, then a loss of £130M amounts to borrowing of 26%. It’s nothing. People borrow much more than that all the time when buying a house!

Bulb are well funded. If they go out of business it wont be because they borrowed too much money, it’ll be because they mismanaged those funds by spending it all on growth through referrals, rather than spending it on developers and having a functional platform that actually works.

3 Likes

Mr H
You are a silver tongued devil

I agree can’t say more than that