Sabien Technology Group PLC M2G Business Update (0234C)
June 08 2023 - 2:00AM
UK Regulatory
TIDMSNT
RNS Number : 0234C
Sabien Technology Group PLC
08 June 2023
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT)
REGULATIONS 2019/310.
8 June 2023
Sabien Technology Group plc
("Sabien" or the "Company" or the "Group")
M2G Business 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 .
In its interim results statement (31 March 2023), Sabien
highlighted that M2G had recorded a strong sales performance as a
result of higher demand from existing customers, the gain of new
customers, and the roll-out of M2G's Cloud Connect solution. The
Group is pleased to report that this performance has continued and,
indeed, accelerated as Sabien completes the financial year to June
2023.
From a customer perspective, M2G has received orders from new
customers operating in life sciences, data centres, universities,
local government, and a range of accommodation settings.
Separately, existing, and new customers have enlisted the Cloud
Connect solution such that recurring revenue is now being generated
from this exciting addition to the M2G portfolio. Since mid-May
2023, Sabien has won orders totalling over GBP118,000 from this
expanding customer base of which at least GBP10,000 will be
annually recurring. A growing sales pipeline through our channels
partners gives confidence that this trend will continue.
Commenting on the business update, Richard Parris, Executive
Chairman of Sabien, stated:
"M2G has performed ahead of our expectations; a testament to the
team and a reference point for expectations. In delivering the
Cloud solution, we have witnessed the extent to which the
commercial heating market is keen to accept energy-saving
innovations in support of both cost and CO2 reductions. This
acceptance has been achieved as a result of M2G's strong reputation
for delivery and efficiency. Additionally, it has been pleasing to
see continuing strong order flow into the traditionally slower
summer period for M2G."
Tom Sprunt, Managing Director of Sabien's M2G business unit,
said: "Customers are now focusing on all their boiler plant,
regardless of size, across entire estates. Visibility of the
instant and available savings, together with M2G`s industry-unique
plant analytics, allow these clients to solve performance and
control issues impacting efficiency; building confidence and
cementing partnerships in so doing."
The Group will provide more detail when it publishes its
year-end trading update in early July 2023.
For Further Information:
Sabien Technology Group plc +44 20 7993 3700
Richard Parris, Executive Chairman Scott.fulton@sabien.com
Scott Fulton, Investor Relations
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
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END
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