Utilitywise plc Capital Markets Event (2886Y)

TIDMUTW

RNS Number : 2886Y

Utilitywise plc

02 March 2017

2 March 2017

Utilitywise plc

("Utilitywise" or "the Group")

Capital Markets Event

Utilitywise plc (AIM: UTW), a leading independent utility cost management consultancy, is today holding a Capital Markets Event for institutional investors and analysts, during which the executive team will update on the Group's strategy and markets.

Strategic Priorities

The Capital Markets Event will focus on the Group's strategic priorities, as detailed below:

   --     Winning in the market; 
   --     Customers for life; 
   --     Revolutionise markets; 
   --     Colleagues; and 
   --     One Utilitywise. 

New Strategic Initiatives

The Group has also identified six strategic initiatives which the Board will be focusing on delivering over the period until the end of the financial year ending 31 July 2021, and which will be covered in the Capital Markets Event:

-- Optimise the Core recognises the operational improvements required to deliver sustained, profitable growth; namely the Group's approach to "going to market", sales enablement, improvements to its operating model and improvements in productivity;

-- The Group's Digital strategic initiative focuses on how Utilitywise will approach the enormous volume opportunity the Group has in a hitherto unserved segment of the market, with 1.5m SME businesses never having switched utility provider or having switched directly;

-- Key to delivering future growth will be the development of a Multi-Utility platform to provide businesses with a simple arrangement for the utilities they use to be managed together, commencing with the water market which is shortly to be deregulated;

-- The Group will develop its Service Proposition in order to provide a winning service experience via managed service plans, using Utilitywise's "Wiselife" IoT-enabled utility management platform to drive recurring revenues;

-- The Board believes that the Energy Services business is a major opportunity for the development of Utilitywise's product offering, utilising the ever-increasing population of internet-enabled utility control devices to manage customers' utilities via Utilitywise's Intelligent Building Operating Platform; and

-- Following the Group's entry into the Continental European energy procurement market, International Expansion will be a medium-term strategic initiative, enabled by the successful execution of the other strategic initiatives detailed above.

The Capital Markets Event will also cover the Group's "One Utilitywise" brand strategy, and its people strategy, both of which are key enablers for the Group's ambitious growth targets.

Key Performance Indicators

Utilitywise's new strategic initiatives are aimed at enabling the Group to grow customer numbers, cross sell and upsell its increasing suite of products to those customers and increase recurring revenues as a percentage of Group revenues. The Group has therefore set itself some challenging KPIs to be delivered by the end of the financial period ending 31 July 2021, namely:

   --     Increasing its share of the SME and micro SME energy procurement market from 2% to 7%(1) ; 
   --     Increasing SME customers from 31,000 (as at 31 July 2016) to 130,000; and 
   --     Developing a 5% share of the GBP1.5bn UK corporate energy controls market 

(1) Measured by number of customers

No new material trading or other financial information will be disclosed.

A copy of the presentation will be made available on www.utilitywise.com after the event.

For further information please contact:

 
 Utilitywise PLC                          0330 303 0233 
 Brendan Flattery (CEO) 
 Richard Laker (CFO) 
 
 finnCap (NOMAD and broker)               020 7220 0500 
 Matt Goode/ Henrik Persson (Corporate 
  Finance) 
 Simon Johnson (Corporate Broking) 
 
  Liberum (Joint broker)                    020 3100 2000 
 Robert Morton/ Steve Pearce 
 Redleaf Communications                   020 7382 4730 
 Rebecca Sanders-Hewett/ David Ison/ 
  Susie Hudson 
 

About Utilitywise

Utilitywise is a leading independent utility cost management consultancy, which has established trading relationships with a number of major UK and European energy suppliers and provides services to its customers designed to assist them in achieving better value out of their energy contracts, reduced energy consumption and lower carbon footprint.

Utilitywise is a UK company quoted on the AIM market of the London Stock Exchange. For more information, please visit www.utilitywise.com.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCBIGDXIBGBGRB

(END) Dow Jones Newswires

March 02, 2017 02:00 ET (07:00 GMT)