Updates

Smart Metering Systems

May 2019

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Results had been flagged last month and contained no surprises. Despite the decrease in installation run rates in H2 18 as the industry transitioned to the new SMETS2 meter stock, SMS’s total meter and data assets portfolio grew to 3.13m by December (including 846,000 smart domestic gas and electricity meters: +156,000 in H2 and +267,000 in H1) following massive capex spending of £128m. Revenues booked for the year amounted to £98.5m, up 24%. Overall, the number of smart meters doubled in 2018 but the phasing in of meters during the year meant recurring revenue increased by 35% to £65.5m compared to the annualised recurring run rate of £75.3m. The other less interesting bits of turnover are ...

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Smart Metering Systems - Now up to £60.7m of annualised recurring rental revenue (April 2018)

Smart Metering Systems - Investing £10m+ a month in smart meters (October 2017)

Smart Metering Systems - Shares up £1 on month (September 2017)

Smart Metering Systems - Annualised recurring revenue up 20% to Â£41.3m (April 2017)

Smart Metering Systems - Annualised recurring revenues climb 28% to £41.3m (March 2017)

Smart Metering Systems - One to stick the crown jewels into (October 2016)

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