REG - Sabien Technology - M2G Business Update

Sabien TechnologyAnnouncement

08/06/2023 07:00

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RNS Number : 0234C  Sabien Technology Group PLC  08 June 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION
11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.

8 June 2023

Sabien Technology Group plc

("Sabien" or the "Company" or the "Group")

M2G Business Update

Sabien Technology Group plc (AIM: SNT), the company focused on a green
aggregation strategy, announces today an update regarding its M2G business,
Sabien Technology Ltd, which focuses on  CO2 mitigation devices for
commercial boilers.

In its interim results statement (31 March 2023), Sabien highlighted that M2G
had recorded a strong sales performance as a result of higher demand from
existing customers, the gain of new customers, and the roll-out of M2G's Cloud
Connect solution. The Group is pleased to report that this performance has
continued and, indeed, accelerated as Sabien completes the financial year to
June 2023.

 

From a customer perspective, M2G has received orders from new customers
operating in  life sciences, data centres, universities, local government,
and a range of accommodation settings. Separately, existing, and new customers
have enlisted the Cloud Connect solution such that recurring revenue is now
being generated from this exciting addition to the M2G portfolio.  Since
mid-May 2023, Sabien has won orders totalling over £118,000 from this
expanding customer base of which at least £10,000 will be annually recurring.
A growing sales pipeline through our channels partners gives confidence that
this trend will continue.

 

Commenting on the business update, Richard Parris, Executive Chairman of
Sabien, stated:

"M2G has performed ahead of our expectations; a testament to the team and a
reference point for expectations. In delivering the Cloud solution, we have
witnessed the extent to which the commercial heating market is keen to accept
energy-saving innovations in support of both cost and CO2 reductions. This
acceptance has been achieved as a result of M2G's strong reputation for
delivery and efficiency.  Additionally, it has been pleasing to see
continuing strong order flow into the traditionally slower summer period for
M2G."

 

Tom Sprunt, Managing Director of Sabien's M2G business unit, said: "Customers
are now focusing on all their boiler plant, regardless of size, across entire
estates. Visibility of the instant and available savings, together with M2G`s
industry-unique plant analytics, allow these clients to solve performance and
control issues impacting efficiency; building confidence and cementing
partnerships in so doing."

 

The Group will provide more detail when it publishes its year-end trading
update in early July 2023.

 

 For Further Information:

 Sabien Technology Group plc                           +44 20 7993 3700

 Richard Parris, Executive Chairman                    Scott.fulton@sabien.com

 Scott Fulton, Investor Relations

 Allenby Capital Limited (Nominated Adviser)

 John Depasquale / Nick Harriss / Vivek Bhardwaj       +44 203 328 5656

 Peterhouse Capital Limited (Broker)

 Duncan Vasey / Lucy Williams                          +44 207 469 0930

 

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