Sharechat Logo

Gentrack inks contract with Eon; 1H profit forecast unchanged

Monday 26th March 2018

Text too small?

Gentrack Group has inked a contract with Eon, providing Germany’s largest renewable energy producer with its velocity utility billing and customer management software for its UK and Romanian energy supply businesses.

Auckland-based Gentrack said the contract won't alter its forecast for first-half earnings. Last month, Gentrack said it expects first-half earnings before interest, tax, depreciation and amortisation of between $15 million to $16 million, compared with $8.8 million the year earlier as it benefits from acquisitions.

The utilities software developer last year lifted net profit 23 percent to $11.8 million as revenue rose 43 percent to $75.2 million as a slew of recent acquisitions drove growth. Gentrack has been on a buying spree in the latest year, with deals to buy UK billing and customer information systems firm Junifer Systems for $74.6 million and European airport software developers Blip Systems and CA Plus for approximately $20.3 million.

The company said the latest contract signing continues its success in the UK energy sector, with more than 38 energy utility customers in the region now using its software.

Its shares rose 0.5 percent to $6.68 and have climbed 82 percent over the past year.

(BusinessDesk)



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Gold Edges Higher After IMF Shaves World Growth Forecast
PaySauce to raise $5.8m, convert notes to equity
Phase One Trade-Deal is an improvement with noteworthy limitations
21st January 2020 Morning Report
Dollar Trims Gain on French Tariff Deal; Oil Rises
Finzsoft blocked from quitting credit unions contract over Christmas
China Unveils Plan to Reduce Single-Use Plastic by 2025
20th January 2020 Morning Report
Rio Tinto reiterates Tiwai position as aluminium prices stay weak
TIL downgrades earnings by up to 40%, suspends first-half dividend

IRG See IRG research reports