Join our daily newsletter At The Bell to receive exclusive market insights
- Environmental intelligence solutions company Envirosuite (EVS) has released positive results for the first quarter of 2021 with a reported $14.7 million in sales.
- More than 50 contracts were renewed from different sectors such as airports, resources, infrastructure and wastewater
- The company believes its multi-regional and multi-industry sectors helped it navigate the impact of COVID-19
- Envirosuite’s forward sales pipeline is also strong and currently stands at $28 million for the 2021 financial year
- On the market this afternoon, Envirosuite is up 22.6 per cent and is trading for 19 cents per share
Environmental intelligence solutions company Envirosuite (EVS) has released positive results for the first quarter of 2021 with a reported $14.7 million in sales.
Despite the global pandemic, the company achieved strong contract renewals and a boost in new sales volume. With a total of 50 contracts renewed over the quarter.
Total sales included $12.2 million in contract renewals, $1.2 million in new business contracts and $1.2 million in one-off sales of equipment and services.
One of those contracts was AENA group, which manages 46 airports in Span; Air Services Australia and Beijing Capital International Airport.
CEO Peter White said the results were pleasing, especially in the COVID-19 environment.
“Contract renewals and new sales growth were spread across all the regions and industry sectors in which we operate. Q1 marks the commencement of the sales and marketing efforts post-integration which are steadily gathering momentum as noted in our latest release with a 300 per cent increase in new sales leads from July to September,” he said.
“Coupled with the strong forward pipeline, this augers well for our sales growth to accelerate in coming quarters,” he added.
The company believes its multi-regional and multi-industry sectors helped it navigate the impact of COVID-19.
Envirosuite’s forward sales pipeline is also strong and currently stands at $28 million for the 2021 financial year.
“While the impact of COVID-19 has no doubt resulted in some deferred spending by customers, Envirosuite is pleased to have been able to continue to grow and to have a strong sales pipeline in front of us,” Peter explained.
“For example, we remain highly active in the Airports sector because the vast majority of our customers in that sector are airport operators whose regulatory obligations require them to still monitor. On top of the airports’ ongoing contractual requirements during COVID-19, we expect that demand for Envirosuite’s products will accelerate as global air traffic volumes begin to recover,” he added.
On the market this afternoon, Envirosuite is up 22.6 per cent and is trading for 19 cents per share at 3:27 pm AEST.
