SMS plc rebrands during 20th anniversary year

RNS Number : 3929R

Smart Metering Systems PLC

29 June 2015

 

29^th June 2015

Smart Metering Systems plc rebrands during 20^th anniversary year

Three SMS-branded gas and electricity business divisions created under single SMS Plc brand to reflect company's dual fuel integrated offer

Smart Metering Systems plc (AIM: SMS.L), announces that the Company has rebranded as SMS Plc (SMS) to reflect its fully integrated gas and electricity offer. The rebranding signifies another milestone for SMS, which this month celebrates 20 years in operation and the completion of the integration of UPL, which SMS acquired in April 2014 to launch its electricity division. 

The completed rebranding of the business, which brings all group subsidiaries under the single SMS brand, sets out a simplified, integrated gas and electricity offering to clients.

Following the rebrand, SMS now operates three divisions under the single SMS Plc brand: Connections Management; Metering and Data; and Energy Management, with gas and electricity running across all three divisions. Previously SMS comprised four subsidiaries and separate brands: UK meter assets, UK gas connection, UK data management and UPL.

The rebranding includes a new Group logo, as well as the re-launch of the SMS corporate website at www.sms-plc.com and other corporate materials. It also reflects SMS's additional future opportunities, as the Company has expanded beyond its pure UK focus. SMS is exploring avenues to increase the Company's penetration in other geographic markets, including through the energy management proposition already established in Italy and the Caribbean and SMS's ADM™ device, which is currently undergoing trials across three continents. There is also the further potential to work with new water industry customers following our full accreditation for water markets in the UK.

Alan Foy, Chief Executive Officer, commented:

"SMS has undergone a transformational year as we have approached our 20^th anniversary, which we celebrate this month. When we announced the acquisition of UPL in April 2014 to launch our electricity offer, we were delighted to be joining forces with a company that shared our vision, values and history. We completed our operational integration earlier this year and we are now delighted to be announcing our rebrand. I want to take this opportunity to thank all of my colleagues for their hard work and strong results, as well as our valued clients, as we mark 20 years of operation."

SMS was originally established in Glasgow in June 1995 to provide services in the gas infrastructure market. 20 years on, SMS is the only independent business providing gas and electricity infrastructure connection and meter asset management services together with the development of advanced smart metering technology solutions to key gas and electricity suppliers in the UK industrial and commercial (I&C) market.

SMS's success story is based on consistently growing and delivering trusted relationships with customers in the gas and electricity supplier markets. The culture is based on the firm's employees knowing their customers and understanding of the market in the UK, and has been instrumental in creating a trusted relationship based on good counsel, prudence and knowledge.

For further information:

Smart Metering Systems plc Alan Foy, Chief Executive Officer Glen Murray, Finance Director	0141 249 3850
Cenkos Securities Neil McDonald Nick Tulloch	0131 220 6939 / 020 7397 8900
Kreab Natalie Biasin Matthew Jervois	020 7074 1800

Chris Philipsborn

Notes to Editors

About Smart Metering Systems

Established in 1995, Smart Metering Systems plc, based in Glasgow, connects, owns, operates and maintains metering systems and databases on behalf of major energy companies.

Currently the Company is concentrating its efforts on offering its unique integrated services to the UK industrial and commercial gas market in which its customers have an 80% market share.

The Company has further applications for gas with its ADM™ device which allows "smart" functions such as remote reading and half-hourly consumption data to be offered to customers in addition to the normal metering services.

SMS expanded its services into the electricity market through the acquisition of Utility Partnership Limited in April 2014. The Company can now provide a fully integrated service from beginning to end to cover the installation of a gas/electricity supply/connection to the procurement, installation and management of a gas or electricity meter asset to the collection and management of customer data and ongoing energy management services. Longer term the Company also has additional applications for water and LPG.

Following its listing, the Company is now part of the FTSE AIM 50 index. For more information on SMS please visit the Company's website: www.sms-plc.com.

Milestones in SMS's history include:

§ 2015: 20^th Anniversary - Full integration of UPL, Record results, Rebrand

-       SMS and UPL businesses completed full operational integration less than a year after the acquisition in April 2014

-       Since Admission to AIM SMS has quadrupled annual turnover to over £42m and increased EBITDA from £5.7m to £19.3m

-       SMS now has over 637,971 gas meters and 16,658 electricity meters under management

-       Rebranding of the Company under the single SMS Plc brand, with three clear business divisions

§ 2014: Acquisition of UPL to create a dual fuel business. Received full accreditation for water markets in the UK

-       Launched electricity service offerings through the acquisition of Utility Partnership Limited (UPL)

-       The two highly complementary businesses share similar histories, founded in 1995 and 1996 respectively, and a vision of becoming the leading independent supplier of smart metering solutions to suppliers in the utility sector providing the highest levels of customer service

§ 2012: Patent secured for SMS's ADM™ smart technology device

-       By FY2014, SMS had deployed 41,000 ADM™ devices in the UK and in 2014 data provision sales from the device exceeded £1m (trebled from 2013)

§ 2011: Admission to AIM

-       In July 2011, SMS began a new chapter as a public company

-       Now firmly in the AIM50

§ 2009 - 2011: Developed smart metering and data management solutions

-       Created a meter asset portfolio with all gas suppliers in the UK

-       Introduced a new smart metering and data management offering serving the I&C market in addition to preparing for the potential roll out of smart metering in the domestic market

-       The UK government's objective is to have all domestic gas and electricity consumers installed with a smart metering solution by 2020

§ 2004: Became an Ofgem approved Meter Asset Manager (MAM)

-        Initially a UK-wide contracting services business using subcontractors from a main base in Scotland, in 2004, SMS established a meter asset management service

§ 1995: Business established following Ofgem's move to liberalise the UK gas market

-       A key driver in transforming the UK gas industry from monopoly-run to an unbundled market

 

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