Water Intelligence PLC Trading Update 3Q 2020 (9866B)
14 Octubre 2020 - 1:00AM
UK Regulatory
TIDMWATR
RNS Number : 9866B
Water Intelligence PLC
14 October 2020
Water Intelligence plc
Trading Update 3Q 2020
Profit Before Tax Exceeding Expectations
Water Intelligence plc (AIM: WATR.L) ("Water Intelligence" or
"Company"), a leading multinational provider of precision,
minimally-invasive leak detection and remediation solutions for
both potable and non-potable water, is pleased to provide a trading
update for year-to-date through the end of the third quarter.
The Company had a very strong third quarter building on its
already strong 1H results. Revenue accelerated and profit before
taxes (statutory and adjusted) are on track to exceed expectations
for full year 2020. The Company also has a strong corporate
development pipeline for 4Q and 2021.
Despite government shutdown orders in response to the Covid
pandemic, Water Intelligence, as an "essential service provider",
accelerated execution of its strategic growth plan during 3Q by:
(i) closing another national insurance account; (ii) reacquiring
three franchises in strategic geographies; and (iii) initiating
commercialization of its proprietary sewer diagnostic product. The
Company is also proud to have received in July the Green Economy
Mark from the London Stock Exchange sharpening its brand for a
community of ESG investors.
Water Intelligence is on a mission to help customers navigate
the Covid crisis by being an "essential service provider" of water
infrastructure services.
Highlights
Financial
Water Intelligence revenues grow by 13% to $27.8 million (3Q
2019: $24.7 million; FY 2019: $32.4 million)
Key Performance Indicators
o Franchise: American Leak Detection franchise royalties grow 2%
to $5.14 million (3Q 2019: $5.06 million)
-- Implying approximately $71 million in year-to-date gross
sales to third parties from which royalty is derived
o Franchise-Related Activities: business-to-business insurance
channel; equipment sales, franchise sales grow 14% to $6.94 million
(3Q 2019: $6.11 million)
o US Corporate-Operated Locations: grow 15% to $12.76 million
(3Q 2019: $11.06 million)
o International Corporate-Operated Locations: grow 21% to $2.96
million (3Q 2019: $2.45 million)
Water Intelligence statutory and adjusted profit before taxes
showing accelerating growth against first half results and are on
track to exceed full year expectations.
3Q Corporate Development Accelerating
-- Strong Execution: Implementation of protocols and navigation of Covid-19 challenges
-- National Account: Added another leading insurance company
-- Franchise Reacquisitions (3): Maryland (US); Melbourne and Brisbane (Australia)
-- Innovation: Initiate commercialization of proprietary sewer
diagnostic product with further traction in early 4Q
-- Brand: Receipt of Green Economy Mark from London Stock Exchange
Commenting on the Group's performance, Executive Chairman, Dr.
Patrick DeSouza remarked: "Global market demand for solutions to
clean water loss and to wastewater blockages is strong and only
growing. The Green Economy continues to be pressingly relevant.
Solutions for problems stemming from deteriorating water
infrastructure take on more urgency as consumers shelter in place
from Covid and as the effects of climate change, such as fires
ravaging the US west coast, become more evident.
We are accelerating our growth plan and have had a very busy 3Q
during a challenging time for many sectors of the economy. We
achieved growth across the board: (i) continued organic growth from
both franchise and corporate operations, especially based on demand
from national accounts that seek to leverage our efficient delivery
of solutions across 140+ locations; (ii) growth of revenue and
profits from three reacquisitions of franchises; and (iii) early
signs of a new source of growth from our proprietary sewer
diagnostic product that had been in development. We look forward to
continuing to increase our share of a big global market and to
provide Green Economy leadership during 4Q and beyond."
Enquiries :
Water Intelligence plc
Patrick DeSouza, Executive Chairman Tel: +1 203 654 5426
Adrian Hargrave, VP Corporate Development + 44 (0)7775 701 838
WH Ireland Limited - NOMAD & Broker Tel: +44 (0)207 220 1666
Adrian Hadden
James Sinclair-Ford
Matthew Chan Tel: +44 (0)7920 599 793
Dowgate Capital Ltd - Broker &
Advisor
Stephen Norcross
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014
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
TSTMJBBTMTTBTJM
(END) Dow Jones Newswires
October 14, 2020 02:00 ET (06:00 GMT)
Water Intelligence (LSE:WATR)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Water Intelligence (LSE:WATR)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024