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Calisen plc to resume smart meter installations

On 25 March 2020 Calisen plc (LON:CLSN) announced it would temporarily suspend all non-essential smart meter installations and field services.

The Group has now seen some of its energy retailer customers re-commencing smart meter installations. Whilst Calisen’s Lowri Beck subsidiary has continued to respond to emergency call-outs throughout the COVID-19 crisis, it also now expects to resume meter reading and other non-essential smart meter installations and field services in July.

Since the suspension of non-essential installations and field services in March, the Group has continued to respond to emergency call-outs under an appropriate personal protective equipment protocol for its engineers. Renewed non-essential smart meter installations will also be carried out under an appropriate PPE protocol in order to protect the health of staff, customers and consumers.

The transition back to normalised levels of activity is expected to be gradual and to take several months. It therefore remains too early to reinstate guidance for 2020 smart meter installations. The Group believes the impact from COVID-19 will not be material to its longer-term plans for the metering portfolio to the end of the smart meter roll-out.

The Group is due to report its half-year results on Tuesday 4 August 2020.

Commenting, Calisen CEO Bert Pijls said:

“This is a very welcome start to the process of resuming normal activity and reinvigorating growth in the business. We will proceed carefully as field activity begins again in order to continue to safeguard the wellbeing of staff, customers and consumers.

“Since we suspended installations in March, Calisen’s installed meter portfolio has continued to generate steady and resilient cash flows underpinned by our strong balance sheet. I am confident that the combination of our solid business model and financial strength will see the Group deliver growth as expected in the longer term.”

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