Smart Metering Systems PLC Post-Close Trading Update (8856D)
05 Februar 2018 - 8:25AM
UK Regulatory
TIDMSMS
RNS Number : 8856D
Smart Metering Systems PLC
05 February 2018
Smart Metering Systems plc
("SMS" or "the Company")
Post-Close Trading Update
Smart Metering Systems plc (AIM: SMS.L), the integrated metering
services company that installs, owns and manages utility metering
assets, is pleased to provide the following update on trading in
the year ended 31 December 2017.
The Company's continued investment in its gas and electricity
metering portfolio saw the total number of assets under management
increase by approximately 62% to 2.03m by 31 December 2017. This
figure includes 423,000 gas and electricity domestic smart meters
in the growing domestic smart meter market.
Total annualised recurring revenue increased by 38% to GBP57.0m
as at 31 December 2017. In the Gas division, meter recurring
revenue grew by 15% to GBP36.1m, while data recurring revenue
increased 15% to GBP3.0m. In the Electricity division, meter
recurring revenue nearly tripled to GBP11.2m and data recurring
revenue grew 56% to GBP6.7m.
Based on unaudited management accounts for the period, SMS
expects that its results for the year to 31 December 2017 will be
in line with current market expectations and these will be
published mid-March 2018.
Alan Foy, Chief Executive Officer, commented:
"2017 has been a year of investment in our business - building
capacity to grow and deliver for our customers in the domestic
smart meter rollout.
"The GBP150million equity placing and refinancing of our
GBP280million bank facility in November 2017 provides us with an
extremely strong financial platform to help our customers complete
their domestic smart meter programmes."
For further information:
Smart Metering Systems
plc 0141 249 3850
Alan Foy, Chief Executive
Officer
David Thompson, Chief
Financial Officer
Craig McGinn, Company
Secretary
0131 220 6939 / 0207
Cenkos Securities plc 397 8900
Neil McDonald
Beth McKiernan
Kreab 020 7074 1800
Matthew Jervois
Daniel Holgersson
Notes to Editors
About Smart Metering Systems Plc
Established in 1995, Smart Metering Systems plc, headquartered
in Glasgow, connects, owns and operates gas and electricity meters
on behalf of major energy companies. The Company's full end to end
energy management services and consultancy business support large
blue chip companies in the UK, through a network of offices in
Cardiff, Cambridge, Bolton, Doncaster, Rugby, and Normanton.
The Company's services also include infrastructure design,
installation, consultancy and project management services for new
gas, electricity, water and telecoms connections for licenced
energy and telecoms suppliers, end consumers and the UK's licenced
electricity Distribution Network Owners (DNO's).
The Company was admitted to the AIM market in July 2011 and is
now part of the FTSE AIM 50 index. For more information on SMS
please visit the Company's website: www.sms-plc.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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