Sabien Technology Group PLC Material M2G order and M2G trading update (5113S)
10 Marzo 2023 - 1:00AM
UK Regulatory
TIDMSNT
RNS Number : 5113S
Sabien Technology Group PLC
10 March 2023
10 March 2023
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT)
REGULATIONS 2019/310.
Sabien Technology Group plc
("Sabien" or "the Company" or "the Group")
Material M2G order
and
M2G trading update
Sabien Technology Group plc (AIM: SNT), the company focused on a
green aggregation strategy, announces today an update regarding its
M2G business, Sabien Technology Ltd, which focuses on CO2
mitigation devices for commercial boilers .
Material M2G Order
The Company is pleased to announce that it has been awarded a
significant order for Sabien's CO2 mitigation device valued at
approximately GBP246k from a UK Government department to be
invoiced in March 2023 (the "M2G UK Government Order"). It is
expected that at least 2/3 of the order will be recognised as
revenue during the 2023 financial year but with the balance of
install and Cloud service revenue spread over the period to 31
March 2024. The M2G UK Government Order is a repeat order from the
same customer that was previously announced by the Company on 25
March 2022.
M2G Trading Update
In light of the M2G UK Government Order , Sabien is pleased to
highlight that since the Company's last trading update in late
October 2022, Sabien has won orders with a value totalling over
GBP430k. This translates to a total of GBP507k in order value for
the year to date. This compares to GBP256k in the comparative
period to March 2022, representing an increase of almost 100%. The
majority of the order value is expected to be recognised as revenue
during the 2023 financial year subject to the timing of unit
install and revenue recognition of Cloud service revenue.
The aggregate GBP430k in order value comprises, amongst other
orders, the GBP246k from the M2G UK Government Order, GBP86k from a
new channel partner order received in the period concerned, as well
as a combined GBP95k in seven additional orders from its existing
partner - CBRE, for installations in the UK and EMEA.
While there can be no guarantee in securing additional orders,
the Company continues to advance negotiations for further repeat
orders. The Company will provide further business updates in its
forthcoming interim results which are expected to be announced in
the last week of March 2023.
Commenting on the order update, Richard Parris, Executive
Chairman of Sabien, stated:
"The Board of Sabien is very pleased to see further repeat
orders from two of the Company's key customers - the UK Government
and CBRE. These continuing and growing commercial relationships
demonstrate considerable validation of Sabien's M2G Cloud Connect
technology and its ability to deliver significant gas energy
savings across their estates. Equally significantly, the Company's
first major order from a new channel partner, in similar settings,
demonstrates a growing profile for Sabien's approach. We look
forward to providing further updates as information becomes
available."
For further information:
Sabien Technology Group plc
Richard Parris, Executive Chairman +44 20 7993 3700
Allenby Capital Limited (Nominated
Adviser)
John Depasquale / Nick Harriss /
Vivek Bhardwaj +44 203 328 5656
Peterhouse Capital Limited (Broker)
Duncan Vasey / Lucy Williams +44 207 469 0930
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
UPDUPUWWWUPWPPB
(END) Dow Jones Newswires
March 10, 2023 02:00 ET (07:00 GMT)
Sabien Technology (LSE:SNT)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Sabien Technology (LSE:SNT)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024