REG - Eagle Eye Solutions - AGM Trading Statement

Eagle Eye SolutionsAnnouncement

21/11/2024 07:00

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RNS Number : 0445N  Eagle Eye Solutions Group PLC  21 November 2024

21 November 2024

Eagle Eye Solutions Group PLC

 

("Eagle Eye" or the "Company")

 

AGM trading statement

 

Positive start to FY25 and a strong new client pipeline internationally

 

Eagle Eye, a leading SaaS and AI technology company that creates digital
connections enabling personalised, real-time marketing at scale, provides the
following trading update ahead of the Company's Annual General Meeting ("AGM")
to be held at 1.00 p.m. today at MYO, 3 New Street Square, London, EC4A 3BF.

 

Eagle Eye continues to benefit from the evolution taking place globally in the
world of loyalty towards personalised engagement. As announced at the time of
the full year results, FY25 has commenced well, with the Company securing
several new wins and deepening with existing customers. Customer highlights of
the first few months of the year include:

 

 ·             a five-year contract win with Waterstones Booksellers Limited in the UK,
 ·             a five-year contract win with a leading retailer in the UK,
 ·             a contract with Côte to support the business' new employee loyalty and
               discount programme,
 ·             a multi-year engagement win with RONA in Canada,
 ·             expansion with Loblaw in Canada for the deployment of our "message at till"
               solution,
 ·             support for Asda's hugely successful 'Cashpot for Schools' initiative, raising
               nearly £5m for PTAs of schools across England since September,
 ·             increased engagement with Morrisons, extending Eagle Eye's loyalty services to
               all 960+ Morrisons Daily convenience stores (formally McColl's), and
 ·             continued deepening for EagleAI with E.Leclerc in France and continued joint
               product innovation.

 

With a considerable sales pipeline across all geographies, the Company is
focused on further enhancing its Win rate. Partnerships are an area of focus,
and Eagle Eye recently became a certified member of the MACH Alliance, a key
endorsement of the quality of the Company's technology offering. Conversations
with other potential partners are progressing well.

 

Eagle Eye's commitment to being an excellent place to work has once again been
recognised in various awards. The Group was recently ranked as the 3rd most
innovative marketing technology company in the world in the TMW 100 awards,
climbing up from 7th place last year, and achieved continued high rankings in
the Best Companies to Work for, placing 6th in the UK's Best Mid-sized Company
to Work For and 7th in the technology category.

 

New and extended banking facility

Eagle Eye is pleased to announce that it has agreed a new and increased
three-year £10m revolving credit facility with HSBC Innovation Bank, which
replaces the Company's previous £5m revolving loan facility with HSBC. The
new facility includes an additional £10m accordion, subject to credit
approval at the time, should there be an appropriate investment opportunity.
The new facility can also be extended for an additional year and provides the
business with improved security and flexibility over its financing options
across the medium term as the Company executes on its growth strategy.

 

Outlook

The proven ability of personalised marketing and engagement to delight
customers and increase loyalty, profitably, together with Eagle Eye's position
as the leading enterprise personalised loyalty solution, continues to drive
interest in its solutions, both from prospective customers and partners. As
previously announced, the increase in ARR at the start of FY25, alongside the
strength of the pipeline and the Company's careful approach to cost
management, provides confidence in FY25 performance.

 

The growing global adoption of personalised loyalty presents a considerable
opportunity within all Eagle Eye's target markets, and with an expanding
customer base and strong pipeline, the Board sees a long runway of growth
ahead.

 

Enquiries:

 Eagle Eye Solutions Group plc                               Tel: 0844 824 3686
 Tim Mason, Chief Executive Officer
 Lucy Sharman-Munday, Chief Financial Officer

 Investec Bank plc (Nominated Adviser and Joint Broker)      Tel: +44 20 7597 5970
 David Anderson / Nick Prowting / St John Hunter

 Shore Capital (Joint Broker)                                Tel: +44 20 7408 4090
 Corporate Advisory: Daniel Bush, David Coaten, Lucy Bowden
 Corporate Broking: Henry Willcocks

 Alma Strategic Communications                               Tel: +44 20 3405 0205
 Caroline Forde, Hannah Campbell, Kinvara Verdon

 

About Eagle Eye

Eagle Eye is a leading SaaS and AI technology company enabling retail, travel
and hospitality brands to earn the loyalty of their end customers by powering
their real-time, omnichannel and personalised consumer marketing activities,
at scale.

 

Eagle Eye AIR is a cloud-based platform, which provides the most flexible and
scalable loyalty and promotions capability in the world. More than 850 million
personalised offers are executed via the platform every week, and it currently
hosts over 500 million loyalty member wallets for businesses all over the
world. Eagle Eye is a certified member of the MACH Alliance and is trusted to
deliver a secure service at hundreds of thousands of physical POS destinations
worldwide, enabling the real-time issuance and redemption of promotional
coupons, loyalty offers, gift cards, subscription benefits and more.

 

The Eagle Eye AIR platform is currently powering loyalty and customer
engagement solutions for enterprise businesses all over the world, including
Asda, Tesco, Morrisons, Waitrose and John Lewis & Partners, JD Sports,
Pret a Manger, Loblaws, Southeastern Grocers, Giant Eagle, and the Woolworths
Group. In January 2024, Eagle Eye launched EagleAI, a next-generation data
science solution for personalisation, already being used by leading retailers
worldwide including Carrefour, Auchan and Pattison Food Group. Web -
www.eagleeye.com (http://www.eagleeye.com)

 

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