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Contract win

14 Oct 2016 07:00

RNS Number : 4993M
EU Supply PLC
14 October 2016
 

 

14 October 2016

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 the Company has signed an addendum (the "Addendum") to the agreement with the Minister for Public Expenditure and Reform in Ireland to develop certain enhancements to the Irish Government's national eProcurement platform, www.eTenders.gov.ie, which is powered by the Company's CTM™ platform and in use by over 2,500 public sector bodies in Ireland. As announced on 13 September 2016, the Minister for Public Expenditure and Reform recently executed its option to extend the existing agreement between the parties until May 2020.

 

The Addendum is on a time and materials basis and EU Supply expects it to generate revenues, in aggregate, of approximately €450,000, with up to €50,000 being generated in 2016 and the remainder in 2017.

 

While the signing of this Addendum underpins the Board's confidence in the forecasted revenue growth in 2017, for the year ending 31 December 2016 the continued weakening of sterling (versus mainly Swedish Krona and the Euro) is expected to increase the Company's reported revenues (as well as reported costs) ahead of consensus forecasts resulting in an overall loss marginally higher than the bottom of the range of consensus forecasts. However, based on the Company's current pipeline of opportunities, including several enhancement projects under discussion, and its order book, the Board still anticipates that the Group will reach operating profit on a monthly run rate basis in the last quarter of 2016.

 

FURTHER ENQUIRIES

EU Supply PLC

Tel: 020 7127 4545

Thomas Beergrehn, CEO

Mattias Ström, CFO

Stockdale Securities

Tel: 020 7601 6100

Tom Griffiths, David Coaten

 

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™ ("CTM™") 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™ platform is one of the easiest to use and most functionally advanced solutions available in the market. The CTM™ platform is used by over 7,000 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 £2.061m (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
 
 
CNTEXLFFQBFLFBD
Date   Source Headline
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10th Jul 20197:00 amRNSScheme of Arrangement becomes Effective
9th Jul 20194:54 pmRNSCourt Sanction & Suspension of Trading
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2nd Jul 20191:31 pmRNSResults of Court Meeting and General Meeting
2nd Jul 20199:52 amRNSHolding(s) in Company
1st Jul 201912:36 pmRNSForm 8.3 - EU Supply PLC
27th Jun 20197:00 amRNSConversion of Loan Notes and Rule 2.9 Information
26th Jun 20195:10 pmRNSChange of Adviser
25th Jun 20199:52 amRNSDirector/PDMR Shareholding
24th Jun 20193:50 pmRNSConversion of Loan Notes and Rule 2.9 Information
20th Jun 20199:38 amRNSForm 8.3 - EU SUPPLY PLC
19th Jun 20199:21 amRNSForm 8.3 - EU SUPPLY PLC
14th Jun 20199:42 amRNSForm 8.3 - EU SUPPLY PLC
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13th Jun 20199:40 amRNSForm 8.3 - EU SUPPLY PLC
12th Jun 20199:21 amRNSForm 8.3 - EU Supply PLC
10th Jun 201910:24 amGNWForm 8.5 (EPT/RI) - EU Supply Plc
7th Jun 20197:00 amRNSPublication and posting of Scheme Document
6th Jun 20199:59 amGNWForm 8.5 (EPT/RI) - EU Supply Plc
5th Jun 20196:14 pmRNSForm 8.3 - EU Supply plc
5th Jun 20199:54 amGNWForm 8.5 (EPT/RI) - EU Supply Plc
5th Jun 20199:44 amRNSForm 8.3 - Fastighets AB Arwidsro
5th Jun 20198:53 amRNSForm 8.3 - Richard Collenette
3rd Jun 20199:35 amGNWForm 8.5 (EPT/RI) - EU Supply Plc
30th May 201912:15 pmRNSResult of AGM
28th May 201911:46 amGNWForm 8.5 (EPT/RI) - EU Supply Plc
24th May 20198:29 amRNSForm 8.3 - Mark Bradshaw (Replacement)
23rd May 20192:28 pmRNSForm 8.3 - Jonas Ljungström
22nd May 20195:50 pmRNSForm 8.3 - EU Supply plc
22nd May 20193:49 pmRNSForm 8.3 - Adrian Friend
22nd May 201911:39 amRNSForm 8.3 - EU Supply plc
22nd May 20199:31 amRNSForm 8.3 - Monica Garibaldi
22nd May 20199:27 amRNSForm 8.3 - Mark Bradshaw
22nd May 20199:14 amRNSForm 8.3 - EU SUPPLY PLC
21st May 20195:17 pmRNSForm 8.3 - EU Supply plc
21st May 20193:39 pmGNWForm 8.5 (EPT/RI) - EU Supply Plc - Amendment
21st May 201912:34 pmRNSForm 8.3 - Christopher Woodgate
21st May 20199:12 amRNSForm 8.3 - EU SUPPLY PLC
20th May 201910:49 amRNSForm 8.3 - Christopher Woodgate
20th May 20199:32 amRNSForm 8.3 - Moulton Goodies Limited
20th May 20199:32 amRNSForm 8.3 - Garraway Capital Management LLP
20th May 20199:30 amRNSForm 8.3 - Divender Bains
20th May 20199:19 amRNSForm 8.3 - Reyker Nominees Ltd (Replacement)
16th May 20194:26 pmRNSForm 8.3 - EU Supply
16th May 20193:59 pmRNSForm 8.3- Rt Hon Shane Hugh Maryon, Viscount Gough
16th May 20193:57 pmRNSForm 8.3 - Robert Kirkland
16th May 20193:56 pmRNSForm 8.3 - Reyker Nominees Ltd
16th May 20193:51 pmRNSForm 8.3 - Paul Leaver
16th May 20193:03 pmRNSForm 8.3 - EU Supply Plc

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