05 September 2023
Vianet Group plc
("Vianet" or the "Group")
Vianet Group plc (AIM: VNET), the international provider of actionable data and business insight through devices connected to its Internet of Things platform ("IOT"), will be holding its Annual General Meeting ("AGM") today at 12.00 p.m. at the offices of Vianet Group plc, One Surtees Way, Surtees Business Park, Stockton on Tees, TS18 3HR.
James Dickson, Chair, will provide the following trading update at today's meeting:
"As I commented in June, at the time of our Full Year results, the business has made further progress towards its pre-pandemic revenue levels and it is pleasing to announce that this progress continues, with trading in line with our expectations. The new initiatives we implemented in FY2023 are not only delivering new customers but have also solidified our existing relationships and broadened the range of services that we are able to offer to our customer base.
The Group remains exceptionally well-positioned to continue to deliver growth as we execute our long-term strategic plan and explore future strategic opportunities for Vianet, and I look forward to providing further colour at the time of our trading update in mid-October."
- Ends -
Vianet Group plc
James Dickson, Chair/CEO
Tel: +44 (0) 1642 358 800
Cenkos Securities plc
Stephen Keys / Camilla Hume
Tel: +44 (0) 20 7397 8900
Vianet Group is a leading provider of actionable management information and business insight created through combining data from our smart Internet of Things ('IOT') solutions and external information sources.
Since Admission to AIM in 2006, the Group has grown from its core beer monitoring business both organically and through strategic acquisitions to widen its offering and develop new businesses, especially in vending telemetry and contactless payment solutions particularly for the premium coffee sector.
Servicing over three hundred customers across the world and rendering live data to our IOT platform from over 250,000 connected machines daily, Vianet is one of the largest business to business (b2b) connected solutions providers in Europe with established long-term relationships with blue chip customers and growing recurring revenues which are over 85% of our total revenues.
In our Smart Machines division, we connect a single data gathering device with its own on-board communication capability to a customer's asset or system. The device then sends data back via our IOT platform to cloud based servers. The technology was originally developed for automated retailing machines; however, the flexibility and functionality of the device means the technology can be applied to any machine which has the capability to output data. The device is also used to connect our contactless payment solution and communicate payment terms to our cloud-based payment services providers where that application is also required.
The Smart Zones division is where we connect multiple data gathering devices into one or more systems or assets with the data from those devices being communicated back to our IOT platform and cloud-based servers via a single 3G communications hub. The technology was originally developed for flow monitoring devices, temperature sensors, and asset management in drinks retailing but any data gathering device with a digital output could be connected to the communications hub where required such as gaming machines, utilities management and EPOS.
For further information, please visit www.vianetplc.com