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1Spatial Plc - AGM Statement

RNS Number : 2217U
1Spatial Plc
28 July 2020
 

28 July 2020

 

1SPATIAL PLC 

("1Spatial" or the "Company")

 

AGM Statement

 

1Spatial, (AIM: SPA), a global leader in Location Master Data Management (LMDM) software and solutions, will hold its Annual General Meeting at 11.00 a.m. today. At the meeting, Andrew Roberts, Non-Executive Chairman, will make the following statement:

 

"I would like to take this opportunity to update our shareholders on the Group's resilient performance in the first five months of our new financial year. Customer implementations and projects have largely continued as planned and we have seen a healthy level of new business secured in all geographies, with both new and existing customers, albeit some decision-making remains protracted. The Company's financial position remains robust and we retain our prudent approach to cost management during this time. As we continue the transition to a repeatable solutions provider, seeking to unlock the value in location data, the potential to scale 1Spatial through our technical innovation is clear.

 

We continue to make progress in unlocking the value of the significant US market opportunity, securing contract expansions with Google and LA County and we have a growing pipeline of 1Data Gateway opportunities, building on the US$2.6m contract secured at the start of the year with the US State of Michigan.

 

I am encouraged by the strategic value of some of our recent successes, securing contracts which have the potential for considerable expansion. In the UK, these include the second stage of the Greater London Authority pilot for the National Underground Asset Register and a Proof of Concept contract with the UK's Environment Agency ("EA"). We won the EA contract against 15 competing businesses, including some of the UK's largest engineering firms, highlighting the competitive strength of our powerful rules-based location data management software and the expertise of our specialist location data teams.  

 

The suspension of local elections and local authority procurement processes caused a slow-down in new business activity in France during the initial COVID-19 period, however activity has now re-commenced, and new contracts secured, including an expansion contract with a large French water company. The team has commenced the process of transitioning customers from Elyx software onto the ESRI platform and our next generation LMDM technology, and our valuable relationship with ESRI France continues to strengthen.

 

The healthy level of customer wins and renewals is due in no small part to the strength of the customer relationships forged by our teams and their dedication in providing outstanding customer support.  With our focus on growth through innovation across all our products and solutions, this is further complemented by the increasing number of opportunities derived via our strategic partners.

 

On behalf of the Board, I would like to thank all employees for their commitment to 1Spatial and our customers in the face of the challenges presented by the COVID-19 pandemic.

 

Outlook

 

The sectors in which we operate, Government, Utilities and Transport, have proven resilient during the COVID-19 pandemic and demand remains strong, as companies seek to unlock the value in location data to make better business decisions. While decision-making is somewhat protracted in the current environment, the growing scale and breadth of our orderbook and pipeline, provide the Board with confidence in our ability to deliver long-term, scalable growth."

 

For further information:

 

1Spatial plc

01223 420 414

Andrew Roberts / Claire Milverton / Andrew Fabian
 

 

 

 

N+1 Singer

020 7496 3000

Shaun Dobson / Tom Salvesen / Alex Bond
 

 

 

 

Alma PR

020 3405 0205

Caroline Forde / Justine James / Harriet Jackson

[email protected]

 

LEI Code: 213800VG7OZYQES6PN67

 

About 1Spatial plc

 

1Spatial plc is a global leader in providing Location Master Data Management (LMDM) software and solutions, primarily to the Government, Utilities and Transport sectors. Our global clients include national mapping and land management agencies, utility companies, transportation organisations, government and defence departments.

 

Today - as location data from smartphones, the Internet of Things and great lakes of commercial Big Data increasingly drive commercial decision-making - our technology drives efficiency and provides organisations with confidence in the data they use.

 

We unlock the value of location data by bringing together our people, innovative solutions, industry knowledge and our extensive customer base.  We are striving to make the world more sustainable, safer and smarter for the future. We believe the answers to achieving these goals are held in data. Our 1Spatial Location Master Data Management (LMDM) platform incorporating our 1Integrate rules engine delivers powerful data solutions and focused business applications on-premise, on-mobile and in the cloud. This ensures data is current, complete, and consistent through the use of automated processes and always based on the highest quality information available.

 

1Spatial plc is AIM-listed, headquartered in Cambridge, UK, with operations in the UK, Ireland, USA, France, Belgium, Tunisia and Australia.

 

For more information visit www.1spatial.com


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Quick facts: 1Spatial

Price: 29

Market: AIM
Market Cap: £32.04 m
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