REG - QinetiQ Group plc - $127m contract win in the US (formerly Avantus)

QinetiqAnnouncement

04/10/2023 07:15

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RNS Number : 5923O  QinetiQ Group plc  04 October 2023

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
(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 (http://www.QinetiQ.com) . Follow us on
LinkedIn and Twitter @QinetiQ. Visit our blog www.QinetiQ-blogs.com
(http://www.QinetiQ-blogs.com) .

For further information please contact:

 John Haworth, Group Director Investor Relations:                 +44 (0) 7920 545841
 Lindsay Walls, Group Director Communications (Media enquiries):  +44 (0) 7793 427582

 

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