Smart Metering Systems (SMS) released strong H1/23 interim for the period to 30 June 2023 with ILARR up 18.2% to £110.0m and revenue up 26.5% to £79.3m. We have upgraded FY23E and FY24E revenue and adjusted EBITDA forecasts following higher ILARR indexation, increased meter transactional activity, and higher average rental from single-fuel I&C smart meter installations. SMS’s high proportion of index-linked revenues provide a natural hedge against a higher interest rate environment whilst signif ....

12 Sep 2023
Smart Metering Systems - Solid H1/23 – another forecast upgrade

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Smart Metering Systems - Solid H1/23 – another forecast upgrade
Smart Metering Systems PLC (SMS:LON) | 655 -6.6 (-0.2%) | Mkt Cap: 873.3m
- Published:
12 Sep 2023 -
Author:
Ian McInally -
Pages:
17 -
Smart Metering Systems (SMS) released strong H1/23 interim for the period to 30 June 2023 with ILARR up 18.2% to £110.0m and revenue up 26.5% to £79.3m. We have upgraded FY23E and FY24E revenue and adjusted EBITDA forecasts following higher ILARR indexation, increased meter transactional activity, and higher average rental from single-fuel I&C smart meter installations. SMS’s high proportion of index-linked revenues provide a natural hedge against a higher interest rate environment whilst signif ....