Hansen Secures Strategic Agreement and Trading Update

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Stock Hansen Technologies Ltd (HSN.ASX)
Release Time 3 Feb 2025, 9:14 a.m.
Price Sensitive Yes
 Hansen Secures A$50m Agreement with Virgin Media
Key Points
  • Hansen secures a significant five-year contract with VMO2 worth approximately A$50m
  • Hansen's Suite for Communications, Technology & Media will be licensed to VMO2 to deliver three platforms
  • FY25 guidance reaffirmed with strong revenue and EBITDA growth
Full Summary

Hansen Technologies Ltd (ASX: HSN), a leading global provider of software and services to the Energy & Utilities and Communications & Media industries, has signed a master agreement with VMO2 to license Hansen's cloud-native Suite for Communications, Technology & Media. The agreement has an initial term of five years with associated revenue of approximately A$50m. VMO2 is jointly owned by Liberty Global and Telefónica, with a publicly stated 45.6 million connections in the UK across broadband, mobile, TV and home phone. Under the agreement, the Hansen Suite for Communications, Technology & Media aims to enhance VMO2's capabilities by delivering three platforms for VMO2 expanding wholesale and retail markets. Hansen's President of Communications & Media, Scott Weir, said: 'This agreement highlights the confidence major industry players place in Hansen's technology and expertise to deliver innovative and future-ready IT solutions.' Hansen reaffirms its full-year guidance, projecting strong revenue growth from its diversified global operations compared to the previous year. This positive outlook reflects the impact of this strategic agreement and the successful completion of other key initiatives. Revenue is expected to be A$398m - $405m, Underlying EBITDA of A$92m - $101m, and Cash EBITDA of A$76m - $85m. Approximately A$15m of VMO2 licence revenue will be recognised upfront in 2H FY25.

Guidance

Revenue: A$398m - $405m Underlying EBITDA: A$92m - $101m Cash EBITDA: A$76m - $85m

Outlook

Hansen looks forward to providing a further update on the full year outlook at the 1H25 results announcement on 19th February.