18 Jun 2020
Press Releases

€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 plcTel: 01753 285 810
Phil Cartmell, Chief Executive Officer 
Derren Stroud, Chief Financial Officer 
Cenkos Securities plcTel: 020 7397 8980
Stephen Keys / Mark Connelly / Callum Davidson 
Vigo CommunicationsTel: 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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.  END  

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