TIDMSMS
Smart Metering Systems PLC
29 June 2015
29(th) June 2015
Smart Metering Systems plc rebrands during 20(th) anniversary
year
Three SMS-branded gas and electricity business divisions created
under single SMS Plc brand to reflect company's dual fuel
integrated offer
Smart Metering Systems plc (AIM: SMS.L), announces that the
Company has rebranded as SMS Plc (SMS) to reflect its fully
integrated gas and electricity offer. The rebranding signifies
another milestone for SMS, which this month celebrates 20 years in
operation and the completion of the integration of UPL, which SMS
acquired in April 2014 to launch its electricity division.
The completed rebranding of the business, which brings all group
subsidiaries under the single SMS brand, sets out a simplified,
integrated gas and electricity offering to clients.
Following the rebrand, SMS now operates three divisions under
the single SMS Plc brand: Connections Management; Metering and
Data; and Energy Management, with gas and electricity running
across all three divisions. Previously SMS comprised four
subsidiaries and separate brands: UK meter assets, UK gas
connection, UK data management and UPL.
The rebranding includes a new Group logo, as well as the
re-launch of the SMS corporate website at www.sms-plc.com and other
corporate materials. It also reflects SMS's additional future
opportunities, as the Company has expanded beyond its pure UK
focus. SMS is exploring avenues to increase the Company's
penetration in other geographic markets, including through the
energy management proposition already established in Italy and the
Caribbean and SMS's ADM(TM) device, which is currently undergoing
trials across three continents. There is also the further potential
to work with new water industry customers following our full
accreditation for water markets in the UK.
Alan Foy, Chief Executive Officer, commented:
"SMS has undergone a transformational year as we have approached
our 20(th) anniversary, which we celebrate this month. When we
announced the acquisition of UPL in April 2014 to launch our
electricity offer, we were delighted to be joining forces with a
company that shared our vision, values and history. We completed
our operational integration earlier this year and we are now
delighted to be announcing our rebrand. I want to take this
opportunity to thank all of my colleagues for their hard work and
strong results, as well as our valued clients, as we mark 20 years
of operation."
SMS was originally established in Glasgow in June 1995 to
provide services in the gas infrastructure market. 20 years on, SMS
is the only independent business providing gas and electricity
infrastructure connection and meter asset management services
together with the development of advanced smart metering technology
solutions to key gas and electricity suppliers in the UK industrial
and commercial (I&C) market.
SMS's success story is based on consistently growing and
delivering trusted relationships with customers in the gas and
electricity supplier markets. The culture is based on the firm's
employees knowing their customers and understanding of the market
in the UK, and has been instrumental in creating a trusted
relationship based on good counsel, prudence and knowledge.
For further information:
Smart Metering Systems
plc
Alan Foy, Chief Executive
Officer
Glen Murray, Finance
Director 0141 249 3850
Cenkos Securities
Neil McDonald 0131 220 6939 / 020 7397
Nick Tulloch 8900
Kreab
Natalie Biasin
Matthew Jervois 020 7074 1800
Chris Philipsborn
Notes to Editors
About Smart Metering Systems
Established in 1995, Smart Metering Systems plc, based in
Glasgow, connects, owns, operates and maintains metering systems
and databases on behalf of major energy companies.
Currently the Company is concentrating its efforts on offering
its unique integrated services to the UK industrial and commercial
gas market in which its customers have an 80% market share.
The Company has further applications for gas with its ADM(TM)
device which allows "smart" functions such as remote reading and
half-hourly consumption data to be offered to customers in addition
to the normal metering services.
SMS expanded its services into the electricity market through
the acquisition of Utility Partnership Limited in April 2014. The
Company can now provide a fully integrated service from beginning
to end to cover the installation of a gas/electricity
supply/connection to the procurement, installation and management
of a gas or electricity meter asset to the collection and
management of customer data and ongoing energy management services.
Longer term the Company also has additional applications for water
and LPG.
Following its listing, the Company is now part of the FTSE AIM
50 index. For more information on SMS please visit the Company's
website: www.sms-plc.com.
Milestones in SMS's history include:
-- 2015: 20(th) Anniversary - Full integration of UPL, Record
results, Rebrand
- SMS and UPL businesses completed full operational integration
less than a year after the acquisition in April 2014
- Since Admission to AIM SMS has quadrupled annual turnover to
over GBP42m and increased EBITDA from GBP5.7m to GBP19.3m
- SMS now has over 637,971 gas meters and 16,658 electricity meters under management
- Rebranding of the Company under the single SMS Plc brand, with
three clear business divisions
-- 2014: Acquisition of UPL to create a dual fuel business.
Received full accreditation for water markets in the UK
- Launched electricity service offerings through the acquisition
of Utility Partnership Limited (UPL)
- The two highly complementary businesses share similar
histories, founded in 1995 and 1996 respectively, and a vision of
becoming the leading independent supplier of smart metering
solutions to suppliers in the utility sector providing the highest
levels of customer service
-- 2012: Patent secured for SMS's ADM(TM) smart technology
device
- By FY2014, SMS had deployed 41,000 ADM(TM) devices in the UK
and in 2014 data provision sales from the device exceeded GBP1m
(trebled from 2013)
-- 2011: Admission to AIM
- In July 2011, SMS began a new chapter as a public company
- Now firmly in the AIM50
-- 2009 - 2011: Developed smart metering and data management
solutions
- Created a meter asset portfolio with all gas suppliers in the UK
- Introduced a new smart metering and data management offering
serving the I&C market in addition to preparing for the
potential roll out of smart metering in the domestic market
- The UK government's objective is to have all domestic gas and
electricity consumers installed with a smart metering solution by
2020
-- 2004: Became an Ofgem approved Meter Asset Manager (MAM)
- Initially a UK-wide contracting services business using
subcontractors from a main base in Scotland, in 2004, SMS
established a meter asset management service
-- 1995: Business established following Ofgem's move to
liberalise the UK gas market
- A key driver in transforming the UK gas industry from monopoly-run to an unbundled market
This information is provided by RNS
The company news service from the London Stock Exchange
END
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