Smart Metering Systems PLC AGM update (9937L)
19 Mai 2022 - 8:00AM
UK Regulatory
TIDMSMS
RNS Number : 9937L
Smart Metering Systems PLC
19 May 2022
19 May 2022
Smart Metering Systems plc
AGM update
Smart Metering Systems plc (AIM: "SMS", the "Group"), a fully
integrated energy infrastructure company owning and managing meter
assets, energy data, grid-scale batteries and other carbon
reduction (CaRe) assets, provides the following trading update
ahead of its Annual General Meeting later today.
Trading update
Meter and data assets:
-- Index Linked Annualised Recurring Revenue ("ILARR"):
o Grew to GBP91.4 million as at 30 April 2022 (31 December 2021:
GBP85.9 million)
o Includes the annual inflationary adjustment which was applied
on 1 April 2022
-- Smart meter installations:
o Run rate has strengthened, in line with the Group's
expectations
o Further improvement is expected over the course of the
year
Grid-scale batteries:
-- Strong operational performance combined with continued growth
of grid-scale battery pipeline to 710MW (31 December 2021: 620MW).
Of the total pipeline:
-- Operational assets:
o First 50MW commenced trading in January 2022 and has performed
strongly to date
o Majority of revenues generated have been from the frequency
service, Dynamic Containment
-- Additional pipeline:
o 40MW project expected to begin trading in Q3 2022
o 260MW of fully secured projects, of which 150MW is currently
in construction
o 360MW of sites are under exclusivity
Financial position and FY 22 outlook
-- At 30 April 2022, the Group's liquidity remains strong with
GBP63.3 million cash in hand (31 December 2021: GBP117.7 million)
and undrawn banking facilities of GBP420 million (31 December 2021:
GBP420 million).
-- The Board's expectations for FY 2022 underlying profitability remain unchanged.
For further information:
Smart Metering Systems plc 0141 249 3850
Tim Mortlock, Chief Executive Officer
Gavin Urwin, Chief Financial Officer
Dilip Kejriwal, Head of Investor Relations
Cenkos Securities plc (Joint Broker 0131 220 6939 / 020
and Nomad) 7397 8900
Neil McDonald / Pete Lynch
Investec Bank plc (Joint Broker) 020 7597 5970
Christopher Baird / Henry Reast
RBC Capital Markets (Joint Broker) 020 7653 4000
Matthew Coakes / Evgeni Jordanov /
Jack Wood
Instinctif Partners sms@instinctif.com
Tim Linacre / Guy Scarborough / Sarah
Hourahane
Notes to Editors
Smart Metering Systems plc (www.sms-plc.com) installs and
manages smart meters, data, grid scale batteries and carbon
reduction assets ("CaRe") to facilitate effective energy
management. The Group manages and optimises these assets through
its in-house technology and data analytical platform.
Established in 1995, SMS provides a full end-to-end service,
from funding and installation to management and maintenance, with a
highly skilled workforce, deep engineering expertise and
well-established industrial partnerships.
SMS is leading the low carbon, smart energy revolution in the UK
and is committed to reducing its own carbon emissions to net zero
by 2030. In 2019, SMS was also awarded the London Stock Exchange
Green Economy Mark.
SMS plc is headquartered in Glasgow with a national presence
across twelve UK locations.
SMS's shares are listed on AIM.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCGPUMCAUPPGCR
(END) Dow Jones Newswires
May 19, 2022 02:00 ET (06:00 GMT)
Smart Metering Systems (LSE:SMS)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Smart Metering Systems (LSE:SMS)
Historical Stock Chart
Von Jul 2023 bis Jul 2024