Smart metering ...Smart people ...Smart approach.

With over 15 years experience operating at the heart of the gas industry, Smart Metering Systems provides the UK’s leading gas suppliers and large corporate customers with a comprehensive package of solutions encompassing all aspects of the gas connections and smart metering markets through its subsidiary companies:
•UK Gas Connection
•UK Meter Assets
•UK Data Management

Smart Metering Systems services include:
•Installation, disconnection or relocation of gas infrastructure
•Installation of domestic, commercial or industrial gas metering equipment
•Third party meter asset management utilising "Rainbow" compliant systems and either the IX or DTN exchanges
•Prepayment meter solutions
•Purchase of existing meter portfolios
•Smart Metering solutions
•Comprehensive gas use analysis through a dedicated web interface

With a company ethos based on offering its clients the highest standards of customer care and a track record of investing in both technology and talented people, Smart Metering Systems works hard to maintain a reputation for delivering the high quality of service that its client’s demand.

http://www.sms-plc.com/Company/About-Us

In this weeks IC- Smart metering Systems came to the market in July 2011 at 60p and its shares have rocketed since. The float proceeds gave the group funding to increase the number of meters installed in the commercial and industrial gas market.
This has proved the basis for substantial growth in recurring revenues- in the half year to the end of June these grew 25 per cent to £9.3m. Meanwhile, cash profits rose by two-thirds to £4m. And there should be plenty more to come as the meter portfolio increased by 25% in the first half to 280,000,while investment in meter assets rose by more than half - and new contract wins offer the potential to add 430,000 domestic meters. The company is also now installing its recently developed AMD smart meter device and testing it for use in the water and LPG markets. So there's plenty to be excited about- but it does come with very high rating on the shares.

RNS Number : 3726Q

Smart Metering Systems PLC

06 November 2012






6 November, 2012

Smart Metering Systems plc

('SMS')



SMS signs contract with E.ON Energy Solutions Ltd



The Board of Smart Metering Systems plc (AIM: SMS.L), is delighted to announce that SMS has signed a new non-exclusive contract with E.ON Energy Solutions Ltd for gas metering services including the provision installation and maintenance of gas metering and other ancillary equipment.

The contract covers the lifetime of the meters (approximately 25 years) and is index linked, similar to the contractual provisions already in place for SMS's current meter portfolio. The contract covers domestic and I&C meters and run rates are being established.

Alan Foy, CEO of SMS, commented:

"We are absolutely delighted that a major energy supplier such as E.ON Energy Solutions Ltd has decided to partner with us. This contract represents further penetration of the major UK energy suppliers and is another step towards our stated aim of becoming

I see in shares mag the 2 directors sold £13.6 m.

I saw that - despite weasel words the sp is far too toppy IMHO and deserves to be lower. The deal with EON looks somewhat optimistic (talk of 25 years!) yet this is an unproven co.

They are up 14% today.

Interesting DC - I hold CYAN a similar(ish) smaller company - that have so far been a spectacular non performer.

Lets hope they head north for you soon skinny.



10 May 2013

Smart meter project is delayed


http://www.bbc.co.uk/news/business-22480068

On the move another 4.5% today

SMS signs preferred supplier contract

RNS


RNS Number : 6594K

Smart Metering Systems PLC

01 August 2013






Smart Metering Systems plc

('SMS')



SMS signs preferred supplier contract with DONG Energy Sales UK Limited



The Board of Smart Metering Systems plc (SMS) is delighted to announce that following discussions and subsequent engagement by DONG Energy Sales UK Limited (DESUK), SMS has been awarded a preferred supplier contract as DESUK's strategic metering partner for the provision of the full range of metering services to DESUK.

SMS provide solutions encompassing all aspects of the gas connections and smart metering markets and will partner with DESUK, the UK subsidiary of the DONG Energy Group, to deliver services including Meter Asset Management (MAM), Site-works and Data Services provision using SMS's automated meter reading solution the ADM™ device. Post installation, SMS will maintain the management of the meters based on terms which reflect SMS's existing index linked contracts with other suppliers.

Alan Foy, CEO of SMS, commented "We are delighted that DONG Energy Sales UK has decided to partner with us to this extent. This contract re inforces our position in the Industrial & Commercial market for installation of new and exchange of existing meters complete with our ADM™ and Data Services solutions.''





Mike Hogg, Managing Director of DONG Energy Sales UK commented "We are very pleased to have entered into this preferred supplier contract with SMS which will enable us to deliver even better data and energy solutions to our Industrial & Commercial customers.''

This may give some upside?

British Gas plans to offer free power on Saturdays

British Gas has said it is planning to offer free power on Saturdays to some of its customers.

The idea is to encourage them to use more of their electricity at the weekend when there is less demand from businesses, according to the BBC's industry correspondent John Moylan .

The scheme would be available to its one million UK customers who have smart meters.

Smart Metering Systems PLC (SMS:LSE) set a new 52-week high during today's trading session when it reached 370.00. Over this period, the share price is up 50.41%.

SMS signs contract with British Gas Business

RNS


RNS Number : 0424N

Smart Metering Systems PLC

23 July 2014






23 July 2014

Smart Metering Systems plc

("SMS" or "the Company")



SMS signs contract with British Gas Business for gas meter exchanges and delivery of automated meter reads



The Board of Smart Metering Systems plc (AIM: SMS.L), is delighted to announce that, following a tender process by British Gas Business (BGB), SMS has been awarded a new contract to install and maintain around 50% of BGB's portfolio of gas meter points.

Under the terms of the contract, SMS will replace BGB's existing diaphragm and pulse output gas meters with Elster meters, which have an integrated data communications system. SMS will also install its ADM™ solution for BGB's customers to both existing and exchanged rotary and turbine gas meters. The programme roll out is anticipated to complete by 2017 and, once installed, the meters will form part of SMS's long term index linked contracts.

Alan Foy, CEO of SMS plc, commented:

"We are delighted that BGB has chosen SMS to undertake this meter exchange programme over the next three years. The signing of this contract is another step towards our ambition to become market leader in the independent ownership of I&C meters and in the provision of automated meter reading solutions for our customers."

Matt Idle, Director of Customer Operations, British Gas commented:



"Since 2008 we have made significant efforts to ensure that all of our customers could benefit from advanced metering, and this agreement is the result of many years of development. The Elster meters installed and maintained by SMS will enable our corporate customers to benefit from innovative technology, which will make it easier for them to control and reduce their energy costs."

Interim results Tues 2 Sept.

Interim Results for six months ended 30 June 2014

RNS


RNS Number : 5631Q

Smart Metering Systems PLC

02 September 2014






Smart Metering Systems plc

("SMS" or "the Company")



Interim Results for the six months ended 30 June 2014



Smart Metering Systems plc (AIM: SMS.L), the integrated metering services company that connects, owns, operates and maintains current generation and new advanced metering assets and databases,is pleased to announce its interim results, which show continued growth for the six months ended 30 June 2014.

Financial highlights


·

Revenue increased by 44% to £18.9m (H1 2013: £13.2m) - increase of 24% excluding Utility Partnership Limited ("UPL")


·

Recurring meter rental increased by 43% to £8.6m (H1 2013: £6.0m), representing 46% of total revenue


·

Gross profit increased by 52% to £12.2m (H1 2013: £8.1m) - increase of 38% excluding UPL


·

Adjusted EBITDA* increased by 59% to £8.7m (H1 2013: £5.5m) - increase of 50% excluding UPL


·

Basic earnings per share increased 23% to 4.02p (H1 2013: 3.27p)


·

Interim dividend increased by 34% to 0.94p per ordinary share


·

£14m acquisition of Utility Partnership Limited (UPL) on 14 April 2014: addition of c.£2m EBITDA annual run rate adding electricity connections, meters, data and energy services to SMS's services


·

Net debt of £48.6m and a net debt to EBITDA of 2.8x


·

Available cash and unused debt facility of £56.4m




*Excluding exceptional items and fair value adjustments



Operational highlights


·

Total meter portfolio increased by 13% to 534,000 (December 2013: 469,000)


·

Increase of 48% in capital investment in meter assets to £15.5m (H1 2013: £10.5m)


·

Increase in annualised recurring gas meter rental at 30 June 2014 of 42% to £18.8m (H1 2013: £13.2m)


·

Contract extensions or additions from a number of major customers, including British Gas Business (after half year end on 23 July 2014)


·

Acquisition of UPL with an annualised run rate c.£2m EBITDA from electricity market providing connections, meters, data and energy services


·

ADM™ installations increased to over 24,000 units to date




- Received full accreditation for water market in the UK




- International trials continuing


·

Asset installation




- Increase of 32% in asset installation revenue to £9.5m (H1 2013: £7.2m), of which gas connections business reduced by 13% to £3.6m (H1 2013: £4.1m)


·

Strengthened Board with the appointment of energy sector expert Willie MacDiarmid as Non-executive Director




Alan Foy, Chief Executive Officer, commented:



"SMS has recorded another six months of strong trading, marked by further milestones for the Company including an acquisition and a significant contract win. We are especially excited that we can now offer our expanded customer base a full gas and electricity proposition, following SMS's acquisition of Utility Partnership Limited in the first half of 2014.



SMS has grown in line with expectations and is well positioned in its markets following the acquisition and integration of Utility Partnership Limited's complementary electricity business activities and the announcement of a new contract from British Gas Business which will have a positive impact over the next three years."

Questor share tip: Smart Metering Services profits jump

The smart meter business reported rapidly growing revenue and profits in the first half of the year, says Questor.


Revenue increased by 44pc to £18.9m and pre-tax profit rose by 40pc to £4.64m





By John Ficenec, Questor Editor

6:00AM BST 03 Sep 2014


Smart Metering Services
393¾p+13¾p
Questor says HOLD


SHARES in companies that install smart gas and electricity meters for industry look like a solid bet as they provide steady revenue and dividend income.


Aim-listed Smart Metering Services [LON:SMS] is one such company, and shares edged up almost 4pc yesterday on first-half results.


Government targets that require a new generation of smart meters to be installed are driving rapid growth. These meters provide constant data on gas and electricity use and potentially allow industrial customers to moderate their energy use, saving thousands of pounds.


Smart Metering Services buys smart meters, installs them and then charges an annual fee for their use. The upfront capital cost of the meters is then repaid.



The portfolio of meters installed increased by 13pc to 534,000 during the first six months ended June 30. Revenue increased by 44pc to £18.9m and pre-tax profit rose by 40pc to £4.64m.

The recurring revenue from the meters is contracted for many years and makes up around half of the first-half revenue for the group, the balance of the revenue comes from charges for installing new meters.

The company is currently in expansion mode to take advantage of the Government’s legislation on smart meters. Investment in new smart meters was 50pc higher at £15m in the first half. The company also spent about £10m acquiring UPL, a company that focuses on electricity smart meters.

Smart Metering Services is highly cash generative with cash from operations of £12.2m made in the first half up more than 80pc from the same stage last year. However, once the investment in new meters and acquisitions is subtracted, net debt increased to £48.6m from £33.3m six months earlier.

The company was confident enough to increase the interim dividend by 34pc to 0.94pc, ex-dividend October 16 and payable November 21.

Market consensus is for full-year pre-tax profits of £13.7m giving earnings per share of 12.8p. The shares are trading on 29 times forecast earnings, falling to 22 times next year. Questor thinks these smart meter companies should take about five years to pay down their debts before turning into cash machines. The shares are looking a bit expensive at the moment but well worth keeping an eye on for any dips. Hold.

Post-Close Trading Update
RNS
RNS Number : 5501D
Smart Metering Systems PLC
30 January 2015



Smart Metering Systems plc

Post-Close Trading Update





The Board of Smart Metering Systems plc (AIM: SMS.L) ("SMS" or the "Company"), the integrated metering services company that connects, owns, operates and maintains current generation and new advanced metering assets and databases, is pleased to provide the following update on trading in the year ended 31 December 2014.



SMS has continued to experience a strong performance across all segments of the business and, in particular, has seen growth in the installation of industrial and commercial meters together with increased adoption of its ADM™ device and has also established a new Electricity division.



The Company made significant progress across a number of business areas over the year. In the early part of 2014, the Company acquired Utility Partners Limited ("UPL"), an electricity metering business that provides connections, meters, data and energy services. This is now the business' new electricity division.



SMS also secured contract extensions or additions from a number of major customers, including a significant new contract with British Gas Business and the Electricity division won contracts with Opus Energy and DONG Energy Sales Limited, both existing customers of SMS' Gas division. In November 2014, the Company re-negotiated its £105m club facility to provide further funding flexibility.



The Company's continued investment in its gas meter portfolio saw the total number of gas meters under management increase by approximately 29 per cent to c. 607,000 by 31 December 2014, in line with management's expectations for the period.



SMS now has four recurring income streams, all of which grew sustainably in the 12 month period to 31 December 2014. In the Gas division, meter recurring rent increased 41% to £21.9m, while data recurring income reached £1m. In the Electricity division, meter recurring rent doubled to £567,000 and data recurring income grew 29% to £2.7m.



SMS has now deployed over 41,000 ADM™ devices and has been successful in receiving full accreditation for the water market in the UK. The Company remains confident that its ADM™ device technology has a broad range of potential applications in gas, electricity, water and LPG markets and has been continuing with trials of the device internationally, where SMS is particularly encouraged by recent progress.



Based on unaudited management accounts for the period, SMS expects that its results for the year to 31 December 2014 will be in line with current market expectations and these will be published in mid-to-late March 2015.



Alan Foy, Chief Executive Officer, commented:

"2014 was a landmark year for SMS and our growing team, completing a significant acquisition and with further contract wins. SMS is delighted to have operationally fully integrated our Electricity division following the acquisition of UPL in April 2014 and we are particularly positive on the outlook for its business in 2015. We can now offer our clients a full utility service and have both secured significant new contracts and renewed existing client relationships during the period. We remain focused on delivering our order book of meter exchanges and data business whilst fully positioning the business for the UK domestic smart meter roll out. The business is well positioned for continued growth in 2015."

Smart Metering Systems (AIM:SMS) the integrated metering services company looks in great shape. Read more at http://tinyurl.com/l5naegt

Proactive investor stockwatch/A-growth-fair-price-play

Excellent set of results for the 12 months to 31 December 2014, although the valuation clearly warranted it and doesn’t allow for slip-ups!

Revenue increased 52% to £42.4m (25% excluding acquisition of UPL) with total annualised recurring revenues increased by 43% to £26.2m. Gas metering and data recurring rent increased 41% to £21.9m and data recurring income reached £1.0m and Electricity metering and data recurring rent doubled to £0.6m and data recurring income grew 29% to £2.7m.

See more at http://tinyurl.com/kmzng3g

AGM Statement
RNS
RNS Number : 4340O
Smart Metering Systems PLC
28 May 2015

Smart Metering Systems plc



AGM Statement



("SMS" or the "Company")



Smart Metering Systems plc (AIM: SMS.L) announces that Paul Dollman, Chairman of SMS, will make the following statement at today's Annual General Meeting:



"I am pleased to report that SMS continues to make significant progress in 2015, its 20th year in business, and to deliver continued growth across all segments of the business. Total annualised recurring revenues have increased by over 10 per cent. from £26.2 million as at 31 December 2014 to £29.0 million as at 30 April 2015, in line with management's expectations. In addition, the Company's continued investment in its asset portfolio has seen the total number of gas meters under management increase by over 5 per cent. to 637,971 and the total number of electricity meters under management increase by approximately 39 per cent. to 16,658, in each case as at 30 April 2015 and in line with management's expectations.



We continue to see the benefits of our expanded service offering across both the gas and electricity sectors and the positive impact of a fully integrated service in these markets for our customers."

Market Buzz

Smart Metering Systems chairman buys new shares

Fri, 05 June 2015



Smart Metering Systems chairman buys new shares



The chairman of Smart Metering Systems raised his stake in the company on Friday.
Paul Dollman bought 5,000 shares for an individual price of 340.2p, spending a total of £17,010 in the transaction.

After the purchase, Dollman holds 20,000 shares in the company, which represents 0.02% of its issued share capital.

The chairman said last week the group has made significant progress in 2015 with revenues up 10% to £29m, which was in line with expectations.

"We continue to see the benefits of our expanded service offering across both the gas and electricity sectors and the positive impact of a fully integrated service in these markets for our customers," he said at the time.

Interim Results for six months ended 30 June 2015
RNS
RNS Number : 1680Z
Smart Metering Systems PLC
16 September 2015

Smart Metering Systems plc

("SMS" or "the Company")



Interim Results for the six months ended 30 June 2015



Smart Metering Systems plc (AIM: SMS.L) is pleased to announce its interim results, which show continued growth for the six months to 30 June 2015.

Financial highlights

· Revenue* increased by 36% to £25.8m (H1 2014: £18.9m)

· Total annualised recurring revenues within asset management increased by 39% to £30.5m (H1 2014: £22.0m)

- Gas: meter recurring rent increased 33% to £25.0m and data recurring income increased to £1.5m

- Electricity: meter recurring rent grew to £0.9m and data recurring income increased to £3.1m

· Gross profit increased by 41% to £17.2m (H1 2014: £12.2m)

· Gross profit margin 67% (H2 2014: 65%)

· Underlying EBITDA** increased by 40% to £12.2m (H1 2014: £8.7m)

· Underlying EBITDA margin 47% (H1 2014: 46%)

· Underlying PBT*** increased by 37% to £8.0m (H1 2014: £5.8m)

· Underlying earnings per share**** increased 72% to 6.90p (H1 2014: 4.02p)

· Interim dividend of 1.1p per ordinary share, an increase of 17%

· Net debt of £69.9m with net debt to EBITDA at 2.9x

· Available cash and unutilised debt facility of £35.1m at 30 June 2015

· Capital expenditure on meters rose by 37% to £21.2m



*
Additional revenue streams incorporated in 2014 resulting from the acquisition of Utility Partnership Limited (UPL).

**
Underlying EBITDA is before exceptional items.

***
Underlying PBT is before exceptional items and intangible amortisation.

****
Underlying earnings per share is profit after taxation but before exceptional items and intangible amortisation, divided by the weighted average number of ordinary shares in issue.




Operational highlights

· Total gas meter portfolio increased by 9% to 661,000 (December 2014: 607,000), with industrial and commercial ("I&C") meters increasing by 37% to 89,000 (December 2014: 65,000). Gas data portfolio increased by 51% to 62,000 (December 2014: 41,000)

· Electricity meters increased by 64% to 19,700 (December 2014: 12,000). Electricity data portfolio increased by 8% to 116,643 (December 2014: 107,990)

· ADM™ installations grew 42.8% to 59,000 units by 30 June 2015 (December 2014: 41,000)

· In June 2015, the Company celebrated 20 years in operation and the first anniversary of the integration of the electricity business, following the acquisition of Utility Partnership Limited ("UPL") in April 2014

· Completed rebranding of the business, bringing all group subsidiaries under the single SMS brand, setting out a simplified integrated gas and electricity offering to clients



Alan Foy, Chief Executive Officer, commented:

"We are delighted that our integrated business service model and core strategy of growing our meter asset base and data services with an emphasis on recurring income, has resulted in further financial and operational growth over the first six months of the year.



SMS is continuing to install gas and electricity meter assets generating additional recurring income from our contracts in the industrial and commercial markets. Following the UPL acquisition, we are already seeing the benefits of cross-selling of our suite of metering, data management, utility connection and energy management services across both gas and electricity markets.



We are well positioned to participate in the UK's upcoming domestic smart meter exchange programme which, we believe, will provide similar asset ownership and recurring income opportunities."

Domestic smart meter contract win First Utility

RNS


RNS Number : 7550B

Smart Metering Systems PLC

21 June 2016






21 June 2016

Smart Metering Systems plc



("SMS" or "the Company")



New domestic smart meter contract win with largest independent UK energy supplier



Contract with First Utility Limited



Smart Metering Systems plc (AIM: SMS.L), the integrated metering services company that connects, owns, operates and maintains over one million current generation smart meter and data assets in the UK, is pleased to announce that it has signed a framework agreement with First Utility Limited ("First Utility"), the largest independent UK-based energy supplier serving electricity, gas and dual fuel customers, as its preferred domestic smart meter asset provider.



Under the terms of the non-exclusive agreement, SMS will provide domestic smart meters to First Utility customers as part of the UK Government programme, overseen by the Department of Energy and Climate Change, requiring domestic energy supply companies to provide all of their customers with a smart meter in homes and small businesses across the UK by 2020.



First Utility currently supply energy to circa one million homes in the UK. Under the terms of the agreement, SMS will, over the next 18 months, gain ownership of up to 150,000 domestic dual fuel smart meters. The meters will be funded by SMS, supported by its revolving credit facility.



To date, suppliers with whom SMS has contracted for the domestic smart rollout currently provide services to 1,549,000 homes in the UK market.



Phil Gripton, Chief Operating Officer of First Utility, said:



"We are pleased to establish our partnership with SMS as part of our commitment to the Smart metering programme. We are confident that working hand in hand with SMS will support First Utility's ambitions in the next phase of our Smart meter rollout. SMS bring a wealth of knowledge and experience which we believe will support the successful deployment of this technology into our customers' homes."



Alan Foy, Chief Executive Officer of SMS, commented:



"We are delighted to be working with First Utility, the largest independent energy supplier in the UK in the rollout of their smart meter programme between now and the end of 2020. SMS is well positioned for this new market with a strong track record for customer services and asset ownership and management. This is exemplified by the recent acquisitions of Trojan Ltd and CH4 Ltd who have installed over 400,000 domestic smart meters to date for energy suppliers, and Qton Ltd whose market leading meter field force installation and management software services has overseen over one million meter installs so far."

12 Jul Panmure Gordon 565.00 Buy

Interim results


Financial highlights
•              Revenue increased by 25% to £32.3m (H1 2015: £25.8m)
•              Total annualised recurring income* increased by 23% to £37.4m (H1 2015: £30.5m)
•              Underlying EBITDA** increased by 20% to £14.7m (H1 2015: £12.2m)
•              Underlying EBITDA** margin at 45% (H1 2015: 47%)
•              Underlying PBT*** increased by 15% to £9.2m (H1 2015: £8.0m)
•              Underlying earnings per share **** increased by 23% to 8.45p (H1 2015: 6.90p)
•              Interim dividend of 1.37p per ordinary share, an increase of 25%
 
*                 Recurring revenue refers to revenue generated by meter rental and data contracts. Annualised recurring income refers to the revenue being generated at a point in time.
**              Underlying EBITDA is before exceptional items and other operating income.
***            Underlying PBT is before exceptional items, other operating income and intangible amortisation.
****         Underlying earnings per share is profit after taxation but before exceptional items, other operating income and intangible amortisation, divided by the weighted average number of ordinary shares in issue.
 
Operational highlights
•              Completed the acquisition of CH4 Gas Utility and Maintenance Services Limited (CH4), Trojan Utilities Limited (Trojan), and Qton Solutions Limited (Qton), further strengthening the Group ahead of the UK's domestic smart meter rollout programme with full UK-wide direct installation and IT support capability
•              The Group has an initial order book of 300,000 dual fuel domestic smart meters from eight contracted energy suppliers who currently supply energy to circa 2 million homes
•              The Group now manages over 1 million utility metering and data assets on behalf of energy suppliers in the industrial and commercial (I&C) and domestic markets and has increased its asset base in all business areas

20 Sep
Panmure Gordon
650.00
Buy
20 Sep
Peel Hunt
N/A
Buy

10 stocks for a truly all weather portfolio

4 Jan
Macquarie
892.00
Outperform

Ramper :-)

Sour grapes. :-))

Post-Close Trading Update

RNS


RNS Number : 9314V

Smart Metering Systems PLC

03 February 2017








Smart Metering Systems plc

("SMS" or "the Company")



Post-Close Trading Update



Smart Metering Systems plc (AIM: SMS.L), the integrated metering services company that installs, owns and manages utility metering assets, is pleased to provide the following update on trading in the year ended 31 December 2016.



The Company's continued investment in its gas and electricity metering portfolio saw the total number of assets under management increase by approximately 28% to 1.25m by 31 December 2016. This figure includes 51,000 gas and electricity domestic smart meters installed towards the end of 2016, in the new domestic smart meter market.



During 2016, SMS signed contracts for the installation and ownership of gas and electricity domestic smart meters with 8 energy suppliers who currently supply c. 2.5m consumers.



Total annualised recurring income increased by 20% to £41.3m as at 31 December 2016. In the Gas division, meter recurring rent grew by 13% to £31.48m, while data recurring income increased 17% to £2.58m. In the Electricity division, meter recurring rent more than doubled to £2.91m and data recurring income grew 26% to £4.33m.



Based on unaudited management accounts for the period, SMS expects that its results for the year to 31 December 2016 will be in line with current market expectations and these will be published late March 2017.



Alan Foy, Chief Executive Officer, commented:



"2016 has been a transformational year for SMS with the evolution of our business model into a fully integrated service provider, in line with the requirements of our customers. The success of this strategy has been evidenced by our continued delivery of year-on-year double digit growth on all our key metrics.



The domestic smart meter market continues to move apace and we have signed contracts with some of the fastest growing energy suppliers in the UK. "

11:50 15/02/2017
Broker Forecast - Panmure Gordon issues a broker note on Smart Metering Systems
Panmure Gordon today reaffirms its buy investment rating on Smart Metering Systems (LON:SMS) and raised its price target to 868p (from 650p). Story provided by StockMarketWire.com

Final results for the year ended 31 December 2016
RNS
RNS Number : 0128A
Smart Metering Systems PLC
21 March 2017
 
Smart Metering Systems plc
("SMS" or "the Company" or "the Group")
 
Final results for the year ended 31 December 2016
 
Smart Metering Systems plc (AIM: SMS.L) is pleased to announce its final results for the 12 months to 31 December 2016, which show continued growth across all business areas.
 
Financial Highlights
·      Revenue increased by 25% to £67.2m (2015: £53.9m) 
·      Total annualised recurring income* increased by 19% to £41.3m (2015: £34.7m) 
o  Gas: meter recurring rent increased by 13% to £31.5m (2015: £27.8m) and data recurring income increased by 17% to £2.6m (2015: £2.2m)
o  Electricity: meter recurring rent increased by 125% to £2.9m (2015: £1.3m) and data recurring income grew 23% to £4.3m (2015: £3.5m)
·      Gross profit increased by 23% to £36.9m (2015: £30.1m) 
·      Gross profit margin remained consistent at 55% (2015: 56%) 
·      EBITDA increased by 17% to £32.5m (2015:£27.9m)
·      Underlying EBITDA** increased by 21% to £31.9m (2015: £26.3m)
·      Underlying EBITDA** margin at 48% (2015: 49%) 
·      PBT increased by 4% to £18.2m (2015:17.5m)
·      Underlying PBT** increased by 13% to £19.6m (2015: £17.4m) 
·      Earnings per share decreased to 17.33p (2015: 17.46p)
·      Underlying earnings per share*** increased to 19.20p (2015: 17.38p) 
·      Final dividend of 2.73p per ordinary share totalling 4.1p for the full year (2015: 3.3p), an increase of 24%
* Recurring revenue refers to revenue generated by meter rental and data contracts. Annualised recurring income refers to the revenue being generated at a point in time.
** Underlying PBT and EBITDA are before exceptional items, intangible amortisation and other operating income.
*** Underlying earnings per share is profit after taxation but before exceptional items, other operating income and intangible amortisation, divided by the weighted average number of ordinary shares in issue.
Operational Highlights
 
·      Total gas and electricity metering and data assets increased by 272,000 to just over 1.25 million under management at 31 December 2016 (2015: 979,000)
o  Total gas meter portfolio increased by 22% to 881,000 (2015: 723,000), with industrial and commercial (I&C) meters increasing by 25% to 143,000 (2015: 114,000). Gas data portfolio increased by 27% to 108,000 (2015: 85,000) 
o  Total electricity meter portfolio increased by 166% to 77,000 (2015: 29,000). Electricity data portfolio increased by 31% to 186,000 (2015: 142,000) 
·      ADM™ installations up 23% to 91,000 units at 31 December 2016 (2015: 74,000) with international trials continuing
·      Capital expenditure on meters was £42.5m (2015: £41.1m), reaching a monthly run rate of approximately £4.0m in December 2016
·      Completed the acquisitions of CH4 Gas Utility and Maintenance Service Limited (CH4), Trojan Utilities Limited (Trojan) and Qton Solutions Limited (Qton), to further strengthen the Group ahead of the UK's domestic smart meter rollout programme with the full UK-wide direct installation and IT support capacity
 
Change to Chief Financial Officer
 
Smart Metering Systems is also pleased to announce the appointment of David Harris as Chief Financial Officer of the Company with immediate effect. David replaces Glen Murray who served as Chief Financial Officer of the Company since 2011. Please see our separate announcement for further details.
 
Alan Foy, Chief Executive Officer, commented:
 
"2016 has been a year of transformation for the business as it grew to over 1.25 million utility metering and data assets under management generating £41.3m in annually recurring index-linked income. The strong financial position has supported three strategic acquisitions, which has delivered a scalable delivery platform with the opportunity to install and own new domestic smart utility meters (gas and electricity) mandated to be installed in every home in the UK over the next four to five years.
 
We have seen a strong start to 2017 and are well positioned to continue making progress in our core markets.  We will continue to invest in meter and data assets and grow our recurring revenue base across both the I&C and Smart Domestic market segments. We have built the foundations to allow us to capitalise on future opportunities."
 

21 Mar
Panmure Gordon
868.00
Buy
21 Mar
Peel Hunt
740.00
Buy

(ShareCast News) - Smart Metering Systems shares were a 'buy' in the Sunday Times' Inside the City column. As part of a £11bn plan, the UK government aims for 53m smart meters - which are electronically linked to your electricity and gas supplier to allow you to monitor and control in near-real time how much energy you use - be fitted in every home and small businesses by December 2020. AIM-listed SMS, which has contracts to instal 2.5m of that total, is only listed company of the four that own and instal smart meters.
Broker Panmure Gordon calculate SMS could target a market of roughly 22m homes, with water meters another way of expanding its customer base. Risks for the company include the government delaying its 2020 deadline. Along with other 'internet of things' devices, smart meters have been seen as potentially vulnerable to hacking or errors such as households being £30,000-plus false readings. But while there may be bumps away, smart meters are here to stay.

09:50 10/04/2017
Broker Forecast - Macquarie issues a broker note on Smart Metering Systems
Macquarie today reaffirms its outperform investment rating on Smart Metering Systems (LON:SMS) and raised its price target to 1068p (from 892p). Story provided by StockMarketWire.com

interims Tues 12 Sept

fyi


http://www.telegraph.co.uk/money/consumer-affairs/six-reasons-say-no-smart-meter/



https://www.ofgem.gov.uk/consumers/household-gas-and-electricity-guide/understand-smart-prepayment-and-other-energy-meters/smart-meters-your-rights

Interim results

Results of placing

REGISTER NOW



The Growth and Innovation Forum is the UK's only growth and technology focussed investment show.


About the show

Do you want to find the next stock market star performer?

Interested in growth and technology focused companies?

Do you want to know how investing really works?

Are you looking to build your wealth through capital growth and income?

Want to take an active role in managing your money?


Come to the Growth and Innovation Forum and connect with top experts who will share their in-depth knowledge of investing and meet directors from fast-growing and technology led London listed companies.

Some of last year's showcased companies gave investors brilliant returns (31/1/17 to 1/12/17).

Bioventix up 78%

Wandisco up 66%

LoopUp up 51%


The show is brought to you by the team at Shares Magazine and AJ Bell in partnership with Cenkos Securities.


Why you should attend


Hear from more than 30 speakers, including top investment experts, fund managers, company executives and renowned journalists from the Shares team

Meet directors of listed firms, fund managers, savings and investment experts

Learn about investment topics suited to a range of investors from novice to expert

Discover more about the most important market issues and strategies for 2018


REGISTER NOW



FREE GIFTS


Get a Growth and Innovation Forum goody bag worth over £140 when you attend!

Goody bag includes:


1) A one year subscription to Shares Magazine digital. Each week you will receive the latest Shares digital weekly magazine where our team of experts will give you a multitude of investment ideas for income and capital growth. You will also gain access to the Shares investor toolkit with live news, LIVE share prices, fund prices, portfolio and research tools (value £120)

2) Volt Power Bank Charger (2200mAh), boosts your device when you're out and about, by simply connecting it with the USB cable. Approximate charging time is 3-4 hours.

3) The new DIY Investor digital e-book written by Andy Bell, CEO of AJ Bell (RRP £17.99)

PLUS all attendees will be entered into free prize draws for:

An all-new Amazon Echo (2nd generation) which connects to Alexa,a cloud-based voice service, to play music, make calls, set alarms and timers, ask questions, check your calendar, weather, traffic and sports scores, manage to-do and shopping lists, control compatible smart home devices, and more.

A Fitbit Alta fitness wrist band, a customisable fitness tracker designed to fit your personal style. Stay motivated by tracking all-day activity – steps, distance, calories burned and active minutes.

A Wired Magazine subscription (one year Print and Digital). WIRED is the magazine about what's next – bringing you the people, the trends and the big ideas that will change our lives. Each month, through thought-provoking features and stunning photography, they explore the next big ideas in science, culture, and business – wherever innovation and new thinking are reshaping our world.

A Design Museum one year pass. The Design Museum is the world's leading museum devoted to contemporary design in every form from architecture and fashion to graphics, product and industrial design. Design Museum members enjoy free unlimited entry to all the museum’s exhibitions and other benefits besides


The Growth and Innovation Forum is free to attend; you simply need to register in advance to secure your ticket. Please click here to order your ticket and tell your friends to come along to the event which is being held on Tuesday 30 January 2018 between 09.00 and 17.30 at the Business Design Centre, 52 Upper Street, Islington, London, N1 0QH. It is well served by public transport with several tube stations on its doorstep.


Hear From

Companies at this event include:

AJ Bell
Cambridge Cognition
Cloudcall
CML Microsystems
Collagen Solutions
Corero Network Security
Creo Medical
CyanConnode
Duke Royalty
EU Supply
FairFX
Getech
Jaywing
Medaphor
Medherant
Mercia Technologies
nDreams
Plastics Capital
PrimaryBid
RedT energy
Smart Metering Systems
Totally
YU Group

+ more companies to be announced


Guest Speakers

Oliver Brown, Investment Director, R.C. Brown Investment Management

Daniel Coatsworth, Editor, Shares Magazine

Steve Frazer, News Editor, Shares Magazine

Russ Mould, Investment Director, AJ Bell

Richard Penny, Fund Manager, Legal & General UK Alpha Trust

Tom Selby, Senior Analyst, AJ Bell

Gervais Williams, Director and Fund Manager, Miton Group


Event timings

Registration: from 09:00
Conference: 09:45 - 17:00
Exhibition: 09:00 - 17:30

REGISTER NOW

11:00 23/01/2018
Broker Forecast - Peel Hunt issues a broker note on Smart Metering Systems
Peel Hunt today reaffirms its hold investment rating on Smart Metering Systems (LON:SMS) and set its price target at 773p. Story provided by StockMarketWire.com

Post-Close Trading Update
RNS
RNS Number : 8856D
Smart Metering Systems PLC
05 February 2018

Smart Metering Systems plc
("SMS" or "the Company")

Post-Close Trading Update

Smart Metering Systems plc (AIM: SMS.L), the integrated metering services company that installs, owns and manages utility metering assets, is pleased to provide the following update on trading in the year ended 31 December 2017.

The Company's continued investment in its gas and electricity metering portfolio saw the total number of assets under management increase by approximately 62% to 2.03m by 31 December 2017. This figure includes 423,000 gas and electricity domestic smart meters in the growing domestic smart meter market.

Total annualised recurring revenue increased by 38% to £57.0m as at 31 December 2017. In the Gas division, meter recurring revenue grew by 15% to £36.1m, while data recurring revenue increased 15% to £3.0m. In the Electricity division, meter recurring revenue nearly tripled to £11.2m and data recurring revenue grew 56% to £6.7m.

Based on unaudited management accounts for the period, SMS expects that its results for the year to 31 December 2017 will be in line with current market expectations and these will be published mid-March 2018.

Alan Foy, Chief Executive Officer, commented:

"2017 has been a year of investment in our business - building capacity to grow and deliver for our customers in the domestic smart meter rollout.

"The £150million equity placing and refinancing of our £280million bank facility in November 2017 provides us with an extremely strong financial platform to help our customers complete their domestic smart meter programmes."

New Domestic Smart Meter Contract Win
RNS
RNS Number : 6532E
Smart Metering Systems PLC
13 February 2018

This announcement may contain inside information
Smart Metering Systems plc
("SMS" or the "Company")

New domestic smart meter contract win

Smart Metering Systems plc (AIM: SMS.L) ("SMS"), the integrated metering services company that connects, owns, operates and maintains current generation and new advanced metering assets and databases, is pleased to announce that it has signed a new meter rental agreement with Utilita Energy to provide an opportunity for over 100,000 new meters during 2018, starting immediately.
Under the terms of the agreement, SMS will provide domestic smart meters as part of the UK Government programme, overseen by the Department of Business Energy and Industrial Strategy, requiring domestic energy supply companies to provide all of their customers with a smart meter in homes and small businesses across the UK by 2020.
Alan Foy, Chief Executive Officer, commented:
"Our new contract with Utilita Energy provides us with the opportunity to support one of the leading independent energy suppliers in Great Britain as they seek to deliver the best service for their energy consumers. SMS is well positioned to add these assets into its growing portfolio of owned meters delivered from our established in house installation and asset ownership operations."

Domestic Smart Meter Contract Extension
RNS
RNS Number : 9343E
Smart Metering Systems PLC
15 February 2018

This includes inside information
Smart Metering Systems plc
("SMS" or the "Company")

Domestic smart meter contract extension
Smart Metering Systems plc (AIM: SMS.L) ("SMS"), the integrated metering services company that connects, owns, operates and maintains current generation and new advanced metering assets and databases, is pleased to announce that it has signed an agreement with First Utility to supplement its existing contractual arrangements announced in June 2016.
The increased commitment is to provide in excess of 220,000 new meters during 2018 and starts immediately.
SMS will provide domestic smart meters as part of the UK Government programme, overseen by the Department of Business Energy and Industrial Strategy, requiring domestic energy supply companies to provide all of their customers with a smart meter in homes and small businesses across the UK by 2020.
Alan Foy, Chief Executive Officer, commented:
"Our extended commitment from First Utility is evidence of our strong track record for customer service delivery, asset ownership and management with a major energy supplier's smart meter roll out programme. The arrangements to add these assets into the growing portfolio of SMS owned meter assets shows our strategy continues to deliver for our customers, our shareholders and our employees".

Final Results for year ended 31 December 2017
RNS
RNS Number : 4902H
Smart Metering Systems PLC
12 March 2018

Smart Metering Systems plc
("SMS" or "the Company" or "the Group")

Final results for the year ended 31 December 2017
Smart Metering Systems plc (AIM: SMS.L) is pleased to announce its final results for the 12 months to 31 December 2017, which show continued growth across all business areas.
Financial highlights
· Revenue increased by 18% to £79.6m (2016: £67.2m)
· Total annualised recurring revenue1 increased by 38% to £57.0m (2016: £41.3m)
o Gas: meter recurring revenue increased by 15% to £36.1m (2016: £31.5m) and data recurring revenue increased by 15% to £3.0m (2016: £2.6m)
o Electricity: meter recurring revenue increased by 283% to £11.2m (2016: £2.9m) and data recurring revenue grew 56% to £6.7m (2016: £4.3m)
· Gross profit increased by 9% to £40.4m (2016: £36.9m)
· Gross profit margin decreased by 4% to 51% (2016: 55%)
· EBITDA increased by 19% to £38.8m (2016: £32.5m)
· EBITDA margin increased by 1% at 49% (2016: 48%)
· PBT decreased by 2% to £18.0m (2016: £18.2m)
· Earnings per share decreased to 16.17p (2016: 17.33p)
· *Pre-exceptional EBITDA2 increased by 22% to £40.3m (restated 2016: £33.0m)
· *Underlying PBT2,3 increased by 7% to £22.2m (restated 2016: £20.7m)
· *Underlying earnings per share4 increased to 19.93p (restated 2016: 19.66p)
· Final dividend of 3.46p per ordinary share totalling 5.20p for the full year (2016: 4.10p), an increase of 27%
· Net debt at 31 December 2017 was £36.5m (2016: £94.2m), with access to cash and undrawn facilities of £243.5m (2016: £55.8m)
* In 2017 the Board has taken the decision to change the presentation of the underlying performance measures to now include other operating income. The Board believe this income is an integral feature of the replacement of meters, particularly prevalent during the current smart domestic rollout and will occur with greater regularity on an ongoing basis. All prior year underlying results have been restated in accordance with this new approach.
1 Recurring revenue refers to revenue generated by meter rental and data contracts. Annualised recurring revenue refers to the revenue being generated at a point in time.
2 Pre-exceptional EBITDA and underlying PBT figures are presented under our revised approach to include other operating income.
3 Underlying PBT is before exceptional items and intangible amortisation.
4 Underlying earnings per share is profit after taxation but before exceptional items and intangible amortisation, divided by the weighted average number of ordinary shares in issue.

Operational highlights
· Total gas and electricity metering and data assets increased by 780,000 to just over 2.03 million under management at 31 December 2017 (2016: 1.25 million)
o Total gas meter portfolio, including 3rd party management assets, increased by 45% to 1,273,000 (2016: 881,000), with industrial and commercial (I&C) meters increasing by 14% to 163,000 (2016: 143,000). Gas data portfolio increased by 17% to 126,000 (2016: 108,000)
o Total electricity meter portfolio increased by 301% to 309,000 (2016: 77,000). Electricity data portfolio increased by 74% to 323,000 (2016: 186,000)
· ADM™ installations up 13% to 103,000 units at 31 December 2017 (2016: 91,000)
· Capital expenditure on revenue generating assets was £122.8m (2016: £42.5m)

Alan Foy, Chief Executive Officer, commented:
"2017 has been a year of investment in our business - building capacity to grow and deliver for our customers, particularly in the domestic smart meter rollout.
We enter 2018 with a solid financial platform and are well positioned to continue making progress in our core markets."

15:25 08/06/2018
Director Deals - Smart Metering Systems (SMS)
David Thompson, Executive Director, bought 1,335 shares in the company on the 8th June 2018 at a price of 750.01p. The Director now holds 1,335 shares representing 0.00% of the shares in issue. Story provided by StockMarketWire.com Director deals data provided by www.sharesmagazine.co.uk

Interim results

New Smart Meter Contract Win - Octopus Energy
RNS
RNS Number : 3200N
Smart Metering Systems PLC
17 January 2019




This announcement contains inside information

Smart Metering Systems plc

("SMS" or "the Company")

New Domestic smart meter contract win - Octopus Energy Limited

Smart Metering Systems plc (AIM: SMS.L) ("SMS"), the integrated metering services company that connects (installs), owns, operates and maintains UK metering assets, is pleased to announce that it has signed a meter rental agreement with Octopus Energy Limited ("Octopus Energy") to supply a minimum of 200,000 new SMETS2 meters.

This forms part of the UK Government programme, overseen by the Department of Business, Energy and Industrial Strategy (BEIS), requiring domestic energy supply companies to provide all of their customers with a smart meter in homes and small businesses across the UK by 2020.

SMETS 2 meters are the next generation of smart meters and will deliver a wide range of improvements, including: interoperability - these devices enable seamless switching between energy suppliers by connecting with the Data Communications Company (DCC); maintain and extend the highest standard of security for householder data and will facilitate the connection of all types of home renewable and microgeneration technology onto the grid, supporting a cleaner, greener UK.

Alan Foy, Chief Executive Officer, commented:
"We are delighted to be working with Octopus Energy, a supplier of 100% green electricity. Octopus Energy is backed by the Octopus Group, which is a large investor in renewable generation internationally and the United Kingdom's largest investor in solar power. SMS, like Octopus Energy, are committed to leading the smart energy revolution and SMS looks forward to bringing the benefits of smart meters to Octopus Energy's customers".

Stuart Jackson, Chief Financial Officer of Octopus Energy, said:
"The size of this partnership is a result of Octopus Energy's tremendous growth and ambition. Our success is driven by our unique technology and commitment to customer service, as demonstrated by Octopus being the only energy supplier recommended by Which?