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SERVICE STREAM LIMITED — Capital/Financing Update 2014
Jul 20, 2014
65865_rns_2014-07-20_cfae6896-fc7c-4a6a-ad4e-def5d99a5db1.pdf
Capital/Financing Update
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21 July 2014
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ASX & Media Release
Service Stream Retains Key Meter Reading Contracts
Service Stream is pleased to announce that it has been awarded a five-year Meter Reading and Field Services Contract with SA Power Networks (SAPN). The new contract term will see Service Stream continue to provide meter reading and field services to SAPN until mid-2019.
Over the past six months, Service Stream has been particularly successful in maintaining its portfolio of key utility service contracts as many of them have come to market on their expiry, including:
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Western Power – Meter Reading & Meter Replacement Services (WA) for a three-year term with the potential for a further 1+1 year option (3+1+1) to 2019;
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APA Gas – Meter Reading and Field Services (QLD, VIC, SA) for a five-year term to 2019.
Service Stream’s Managing Director, Leigh Mackender said: “The renewal of these contracts affirms Service Stream as the major provider of meter reading and field services to utility distribution businesses throughout Australia. The renewed contracts provide a foundation for recurring revenue of approximately $140 million over their respective terms, and their renewal continues to strengthen our position as the provider of choice in Western Australia, South Australia, Victoria and Queensland.”
For further details contact:
Service Stream Limited
Leigh Mackender, Managing Director Tel: +61 3 9677 8817
Service Stream Limited
Bob Grant, Chief Financial Officer Tel: +61 3 9677 8817
About Service Stream Limited:
Service Stream is a public company listed on the Australian Securities Exchange (Code: SSM) with last reported annual revenue in excess of $500 million. The Service Stream Group is a provider of essential network services to the telecommunications, energy and water industries. Service Stream operates out of more than 40 locations nationwide and maintains a workforce of around 3,000 employees and contractors. For more information please visit www.servicestream.com.au.
SERVICE STREAM LIMITED ABN 46 072 369 870
HEAD OFFICE Level 4, 357 Collins Street, Melbourne Vic 3000 | Mailing Address: PO Box 14570 Melbourne VIC 8001 T +61 3 9677 8888 | F +61 3 9677 8877 | E [email protected] | www.servicestream.com.au