EU Supply PLC Contract Win (0207X)
November 21 2017 - 2:00AM
UK Regulatory
TIDMEUSP
RNS Number : 0207X
EU Supply PLC
21 November 2017
21 November 2017
EU Supply plc
("EU Supply", the "Company" or the "Group")
Contract win
EU Supply (LSE AIM: EUSP), the e-procurement software provider,
is pleased to announce that it has received its fourth contract
(the "Contract") pursuant to the framework agreement entered into
with an existing customer (the "Customer") for additional services
to its CTM(TM) platform which was announced by the Company on 16
June 2017 (the "Agreement").
The Agreement is for 3 years with a further year at the
Customer's option and has a total value of up to EUR3.6m. The
Contract comprises customer-paid enhancements and is expected to
generate revenues of approximately EUR675k, bringing the total
value of the contracts called-off under the Agreement to date to,
in aggregate, approximately EUR1.9m.
In order to free up capacity to deliver the anticipated
increased growth in enhancements and integrations for existing and
new customers expected in 2018, the Company will accelerate the
delivery of half of the Contract in the remainder of this year. As
a result, the Board expects that the Group's revenues for the year
ending 31 December 2017 will slightly exceed market expectations
while, due to the increased cost of delivering the Contract by
using consultants, the Group's operating profit for the year ending
31 December 2017 is expected to be in line with market
expectations.
FURTHER ENQUIRIES
EU Supply PLC Tel: 020 7127 4545
Thomas Beergrehn, CEO
Fredrik Wallmark, CFO
Stockdale Securities Tel: 020 7601 6100
Tom Griffiths, Ed Thomas
A copy of this announcement is available at
www.eu-supply.com.
Notes to Editors
EU Supply is the UK holding company of the EU Supply Group, a
Sweden-based e-commerce business, which has an established,
market-leading, multilingual e-procurement platform for esourcing,
e-tendering and contract management, tailored for the highly
regulated European public sector market.
Since 2006, the Group has invested heavily in employing
specialist programmers to add functionality, legal compliance as
required and security features to its Complete Tender
Management(TM) ("CTM(TM)") platform to ensure that the Group is
ideally placed to secure new contracts with EU Member States and
their Contracting Authorities. The platform is available in 16
different languages.
The Directors believe that the Group's CTM(TM) platform is one
of the easiest to use and most functionally advanced solutions
available in the market. The CTM(TM) platform is used by over 8,000
European public sector bodies in 9 EU/EEC Member States and has
National Procurement System status in four Member States (the UK,
Ireland, Norway and Lithuania).
The Company's shares were admitted to trading on AIM in November
2013. In August and September 2015, the Company raised a total of
GBP2.061m (before expenses) through a placing of new shares and the
issue of first and second tranches of Convertible Loan Notes to
institutional and other investors.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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