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SERVICE STREAM LIMITED — Capital/Financing Update 2019
Mar 14, 2019
65865_rns_2019-03-14_fca5c4ec-1d86-477e-8151-e1621ab6382a.pdf
Capital/Financing Update
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ASX RELEASE
15 March 2019
Service Stream re-secures Wireless Design and Construction Agreement with Telstra
Leading essential network services company Service Stream Limited (ASX: SSM) is pleased to announce that it has entered into a new contract with Telstra for the provision of design and construction services to support Telstra’s wireless infrastructure network. The contract has been secured for an initial term to June 2021, which will be followed by a oneyear extension at Telstra’s election.
The new contract replaces the previous agreement which has just expired.
Whilst the agreement does not provide guaranteed volumes, Service Stream notes that revenue for similar services under the precedent contract has averaged approximately $80 million per annum over the last three years.
Service Stream’s Managing Director, Leigh Mackender, said “We are very pleased to have the opportunity to continue partnering with Telstra and supporting their national wireless network infrastructure programs at a time where demand for telecommunication products and services continues to experience strong growth. Service Stream looks forward to continuing to work closely with Telstra, and supporting its T22 strategy as it commences the expanded deployment of 5G infrastructure across the country.”
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). The Service Stream Group is a provider of essential network services to the telecommunications and utility sectors. Service Stream operates across all states and territories, has a workforce in excess of 2,200 employees and access to a pool of over 3,000 specialist 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