Qinetiq Regulatory News (QQ.)

News release

QinetiQ Group plc

$127m contract win in the US (formerly Avantus)

 

4 October 2023 - QinetiQ Group plc (QinetiQ) is pleased to announce it has been awarded a five year $127m contract in the US from the Office of the Secretary of Defense Strategic Capabilities Office (SCO). QinetiQ will provide secure, technologically advanced services and products that will enable SCO to deploy new and enhanced capabilities in support of strategic operations.

This contract builds on our existing work and strong customer relationship with SCO, generating incremental growth on previous work. The contract will support our customers' mission to identify, analyse, and prototype disruptive applications of new systems, and implement emerging technologies to create operational effects that counter strategic adversaries. Following the $224m SDA contract award announced on 31 August 2023, this $127m SCO contract is a further demonstration of Avantus continuing to win significant programmes that underpin our target of greater than 10% annual revenue growth from Avantus.

Steve Wadey, Group Chief Executive Officer of QinetiQ, said:

"The award of this new contract is evidence of our US business continuing to deliver against our ambitious growth plan. The capabilities we acquired with Avantus last year are highly relevant to our customers and provide key services in support of their mission to solve some of the most complex national security challenges."

Investor Seminar: Key drivers of our global growth

QinetiQ will host an Investor Seminar on 25th October 2023 in New York, covering three of the key growth drivers for the company: our UK Intelligence business, Avantus and our wider US business, and our global threat representation capabilities. You are warmly invited to join in person or via live webcast.

To register to attend: https://www.qinetiq.com/en/investors/investor-seminars/key-drivers-of-our-global-growth

About QinetiQ

QinetiQ is an integrated global defence and security company focused on mission-led innovation. QinetiQ employs more than 8,000 highly-skilled people, committed to creating new ways of protecting what matters most; testing technologies, systems, and processes to make sure they meet operational needs; and enabling customers to deploy new and enhanced capabilities with the assurance they will deliver the performance required.

Visit our website www.QinetiQ.com. Follow us on LinkedIn and Twitter @QinetiQ. Visit our blog www.QinetiQ-blogs.com.

For further information please contact: