Kinovo Plc Regulatory News (KINO)

17 January 2023

Kinovo plc

("Kinovo" or the "Company")

Kinovo given highest-ranking regional contractor awards within National Housing Maintenance Forum Framework

Kinovo Plc (AIM: KINO), the specialist property services group that delivers compliance and sustainability solutions, is pleased to announce that it has been awarded highest-ranking regional contractor status for a number of direct award lots via the National Housing Maintenance Forum ("NHMF") Framework, meaning the Company is the lead contractor to be selected for new work within certain frameworks in key regions.

The members of the NHMF represent more than 80% of the UK's social housing stock across its total of 11 geographic regions. Being the highest-ranked contractor will significantly increase the Company's ability to win new contracts, with the potential to add considerably to our existing pipeline.

Under the NHMF Responsive Maintenance and Void Property Works Framework Agreement, Kinovo has ranked first for the Greater London Region and second for the East of England Region for the "Responsive Maintenance Direct Award". 

Additionally, under the NHMF Planned Maintenance, Net Zero Carbon and Passive Fire Safety Works Framework Agreement, it has ranked first for both the Greater London Region and the South East Region and second for the East of England Region for the "Planned Maintenance - Internal Works - Direct Award". 

Furthermore, also under the NHMF Planned Maintenance, Net Zero Carbon and Passive Fire Safety Works Framework Agreement, Kinovo has ranked first for the Greater London Region for the "Planned Maintenance - External, Communal and Internal Works - Direct Award".

The NHMF estimates these three awards to be worth £200 million nationally, across the relevant contractors in aggregate, over four years. This includes £50 million for the Responsive Maintenance and Void Property Works Framework Agreement award, and £75 million each for both the internal and external Planned Maintenance, Net Zero Carbon and Passive Fire Safety Works awards, with sustainability works being a key pillar of Kinovo's strategy and future growth.

Due to the nature of framework contracts, and our prudency of our visible revenue outlook, Kinovo does not include these figures within its 3-year visible revenues.

David Bullen, Chief Executive Officer of Kinovo plc, commented:

"We are delighted to be ranked in first place within these three frameworks, testament to the hard work of the team and high quality of our work. In particular, this demonstrates the continued progress from our investments in our business development team.

Together with a strong pipeline of organic growth opportunities, we are confident these rankings will, in time, have a significant effect on our visible revenues during the next three years and beyond."

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