Pelatro PLC AGM Statement (0801Q)
17 Junio 2020 - 1:00AM
UK Regulatory
TIDMPTRO
RNS Number : 0801Q
Pelatro PLC
17 June 2020
June 17, 2020
Pelatro Plc
("Pelatro" or the "Group")
AGM statement
At Pelatro's Annual General Meeting ("AGM") to be held later
today, Chairman, Richard Day, will give the following update on
trading and the Group's strategy for growth.
Current trading
As noted in our announcement of 8 April 2020, we continue to see
"business as usual" and it is pleasing to report that the Group's
activities have been minimally impacted by the coronavirus
pandemic. Most of our employees continue to work from home, with a
small number working from our offices in India, where the lockdown
restrictions have been partially lifted. Despite the additional
scrutiny of any investment decision due to the pandemic, our
customers continue to invest in our solutions, which allow them to
reach their subscribers directly. Demand for Pelatro's solutions
has not flagged and, as a result of various new contracts,
including Change Requests and new "modules" (as explained below)
our revenue visibility for 2020 has increased to US$5.0m and
Annualised Recurring Revenue (ARR) to $4.7m.
Product and contract update
Telcos the world over are struggling to leverage software tools
to increase revenue and reduce churn. Pelatro's advanced processes
and expertise enables us to evolve campaign strategies, design the
campaigns, execute them and effectively measure the returns. Our
Managed Services offering comprises operational support for the
telcos, covering both business and IT operations. Pelatro has also
built skill sets covering telco marketing, analytics and data
science, which are essential to win and execute Revenue Gain Share
contracts. We have focused on winning recurring revenue contracts
from early 2019, including both Managed Services and Revenue Gain
Share contracts, with six such contracts won to date.
Pelatro has an end-to-end product suite covering campaign
management, loyalty management, data monetisation and unified
communication solutions. Having set up these cornerstone products,
the Group has been developing several add-on modules to further
enhance the offering. Each module adds a specific feature, or use
case, to the base product and can also be sold independently of
each other. The Group has launched seven such modules this year,
helping to maintain Pelatro's competitive advantage and strengthen
relationships with telco customers.
Growth strategy
The recurring revenue contracts won over the past 18 months,
including the significant 300 million+ subscriber contract
announced in December 2019 demonstrates that the Group's strategy
is working and positions it well to win more contracts. To help
leverage off these credentials, we intend to increase our
investment in sales and marketing both in existing emerging market
geographies (Asia Pacific, Africa and Latin America) as well as new
geographies (Europe, Middle East and Central Asia), with a focus on
winning new Managed Services contracts. Our aim, therefore, is to
increase our current ARR of $4.7m to low double digits in the next
two to three years, to more than cover the Group's operational cash
cost base.
Outlook for the year
We remain optimistic about the prospects for the
telecommunications industry. At the same time, Pelatro is
increasingly cash generative, with clearer visibility on future
income streams and our new product modules provide a strong
foundation for our continued growth. All our existing customers can
benefit from these modules at some point in time, helping to ensure
a continuous stream of revenue for Pelatro. Further, these modules
enable us to build more value for our customers, deepening the
partnership between us.
Given the increase in revenue visibility we are confident of
delivering a performance in line with expectations for 2020.
For further information contact:
Pelatro Plc
Subash Menon, Managing Director c/o Cenkos Securities
plc
Nic Hellyer, Finance Director
Cenkos Securities plc (Nominated Adviser
and Broker) +44 (0)20 7397 8900
Stephen Keys / Cameron MacRitchie (Corporate
Finance)
Michael Johnson (Sales)
Notes to editors
The Pelatro Group was founded in March 2013 by Subash Menon and
Sudeesh Yezhuvath with the objective of offering specialised,
enterprise class software solutions for customer engagement
principally to telcos who face a series of challenges including
market maturity, saturation and customer churn.
Pelatro provides its "mViva" platform for use by customers in
B2C and B2B applications, and is well positioned in the Customer
Engagement space. Our technology orchestrates the digital journey
of the customers of the telcos through contextual, relevant and
real time offers and loyalty programs across multiple channels
including websites, social media, apps and others.
For more information about Pelatro, visit www.pelatro.com
[END]
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END
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