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SERVICE STREAM LIMITED — Capital/Financing Update 2015
Dec 20, 2015
65865_rns_2015-12-20_e73b2847-95f2-45db-bc32-20093a8d5f9b.pdf
Capital/Financing Update
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ASX & MEDIA RELEASE
21 December 2015
Service Stream awarded four-year Operations and Maintenance agreement with nbn
Leading essential network services company Service Stream Limited (ASX: SSM) is pleased to announce that it has signed a significant new four-year Operations and Maintenance Master Agreement (OMMA) for the provision of operations and maintenance field services to nbn .
Under the OMMA, Service Stream will be responsible for performing operations and maintenance field service works including Service Activations, Service Assurance, Network Assurance and Preventative Maintenance activities. These services will be provided across nbn’s fixed line multi-technology network, including Fibre to the Node (FTTN), Fibre to the Premise (FTTP), Fibre to the Basement (FTTB) and Hybrid Fibre-Coxial (HFC) technologies.
Service Stream is expected to commence field works under the new agreement in March 2016, delivering services to nbn within defined contracted areas across QLD, NSW, ACT, VIC, WA and NT. The initial award and contract regions reflects the operations and maintenance for a significant portion of nbn’s fixed line footprint.
Volumes under the new agreement are expected to grow over the four-year term as the nbn infrastructure rollout program advances, with revenue in the first year valued at approximately $40 million and subsequent years are anticipated to be at a multiple to the first year’s value, in line with the roll-out of the nbn increasing substantially.
Service Stream’s Managing Director, Leigh Mackender, said “As a proven provider of O&M services within the telecommunications industry, we are proud to secure another key role in supporting nbn as they undertake one of the Nation’s most significant infrastructure projects to provide better broadband to all homes and businesses.
nbn is now operating in a multi-technology environment, and the volume of activation and assurance works over the coming years is expected to increase significantly. This OMMA provides an opportunity for Service Stream to secure further annuity style revenues and leverage off the strong ticket-of-work pedigree that the Company has developed over many years” .
For further details contact:
Service Stream Limited
Leigh Mackender, Managing Director Tel: +61 3 9937 6350
Service Stream Limited
Bob Grant, Chief Financial Officer Tel: +61 3 9937 6350
About Service Stream Limited:
Service Stream is a public company listed on the Australian Securities Exchange (Code: SSM). 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 1,500 employees and up to 3,000 active 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