18 Jun 2020
€18 million work orders secured under ESA framework contract
TP Group (AIM: TPG), the provider of mission-critical solutions for a more secure world, is pleased to confirm that its subsidiary Sapienza Consulting has received a series of work orders under its framework contract with the European Space Agency (ESA), the extension of which was announced on 24 March 2020.
The work orders, worth approximately €18 million, cover tasks until the end of 2022 on a range of ESA programmes at the European Space Technology Centre (ESTEC) at Nordwijk in the Netherlands. Further work orders remain in discussion under the extended framework contract.
The initial contract with ESA was signed 1 July 2017 and at the end of March 2020, had generated approximately €31 million of revenue.
Phil Cartmell, Chief Executive Officer of TP Group, commented:
“We are very pleased to see these work orders continuing to come through during this difficult period. They demonstrate the resilience of our European institutional customers and our ability to support them on their long-term programmes.”
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
For further information, please contact:
|TP Group plc||Tel: 01753 285 810|
|Phil Cartmell, Chief Executive Officer|
|Derren Stroud, Chief Financial Officer|
|Cenkos Securities plc||Tel: 020 7397 8980|
|Stephen Keys / Mark Connelly / Callum Davidson|
|Vigo Communications||Tel: 020 7390 0230|
|Jeremy Garcia / Charlie Neish|
Notes to Editors
TP Group delivers complex equipment, software and services for mission, business and safety critical applications in defence, space, intelligence & security and energy sectors. With more than 400 people in 6 European countries, it serves global customers through long-term contracts. The Group’s shares have been traded on AIM since July 2001.
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