21
November 2024
Eagle Eye Solutions Group
PLC
("Eagle
Eye" or the "Company")
AGM trading
statement
Positive start to FY25 and a
strong new client pipeline internationally
Eagle
Eye, a leading SaaS and
AI technology company that creates digital connections enabling
personalised, real-time marketing at scale, provides the
following trading update ahead of the Company's Annual General
Meeting ("AGM") to be held at 1.00 p.m. today at MYO, 3 New Street Square, London,
EC4A 3BF.
Eagle Eye continues to benefit from
the evolution taking place globally in the world of loyalty towards
personalised engagement. As announced at the time of the full year
results, FY25 has commenced well, with the Company securing several
new wins and deepening with existing customers. Customer highlights
of the first few months of the year include:
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a five-year contract win with
Waterstones Booksellers Limited in the UK,
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a five-year contract win with a
leading retailer in the UK,
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a contract with Côte to support the
business' new employee loyalty and discount programme,
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a multi-year engagement win with
RONA in Canada,
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expansion with Loblaw in Canada for
the deployment of our "message at till" solution,
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support for Asda's hugely successful
'Cashpot for Schools' initiative, raising nearly £5m for PTAs of
schools across England since September,
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increased engagement with Morrisons,
extending Eagle Eye's loyalty services to all 960+ Morrisons Daily
convenience stores (formally McColl's), and
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continued deepening for EagleAI with
E.Leclerc in France and continued joint product
innovation.
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With a considerable sales pipeline
across all geographies, the Company is focused on further enhancing
its Win rate. Partnerships are an area of focus, and Eagle Eye
recently became a certified member of the MACH Alliance, a key
endorsement of the quality of the Company's technology offering.
Conversations with other potential partners are progressing
well.
Eagle Eye's commitment to being an
excellent place to work has once again been recognised in various
awards. The Group was recently ranked as the 3rd most innovative
marketing technology company in the world in the TMW 100 awards,
climbing up from 7th place last year, and achieved continued high
rankings in the Best Companies to Work for, placing 6th in the UK's
Best Mid-sized Company to Work For and 7th in the technology
category.
New and extended banking
facility
Eagle Eye is pleased to announce
that it has agreed a new and increased three-year £10m revolving
credit facility with HSBC Innovation Bank, which replaces the
Company's previous £5m revolving loan facility with HSBC. The new
facility includes an additional £10m accordion, subject to credit
approval at the time, should there be an appropriate investment
opportunity. The new facility can also be extended for an
additional year and provides the business with improved security
and flexibility over its financing options across the medium term
as the Company executes on its growth strategy.
Outlook
The proven ability of personalised
marketing and engagement to delight customers and increase loyalty,
profitably, together with Eagle Eye's position as the leading
enterprise personalised loyalty solution, continues to drive
interest in its solutions, both from prospective customers and
partners. As previously announced, the increase in ARR at the start
of FY25, alongside the strength of the pipeline and the Company's
careful approach to cost management, provides confidence in FY25
performance.
The growing global adoption of
personalised loyalty presents a considerable opportunity within all
Eagle Eye's target markets, and with an expanding customer base and
strong pipeline, the Board sees a long runway of growth
ahead.
Enquiries:
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Eagle Eye Solutions Group plc
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Tel: 0844 824 3686
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Tim Mason, Chief Executive
Officer
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Lucy Sharman-Munday, Chief Financial
Officer
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Investec Bank plc (Nominated Adviser and Joint
Broker)
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Tel: +44 20 7597 5970
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David Anderson / Nick Prowting / St
John Hunter
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Shore Capital (Joint Broker)
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Tel: +44 20 7408 4090
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Corporate Advisory: Daniel Bush,
David Coaten, Lucy Bowden
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Corporate Broking: Henry
Willcocks
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Alma Strategic Communications
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Tel: +44 20 3405 0205
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Caroline Forde, Hannah Campbell,
Kinvara Verdon
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About Eagle Eye
Eagle Eye is a leading SaaS and AI
technology company enabling retail, travel and hospitality brands
to earn the loyalty of their end customers by powering their
real-time, omnichannel and personalised consumer marketing
activities, at scale.
Eagle Eye AIR is a cloud-based
platform, which provides the most flexible and scalable loyalty and
promotions capability in the world. More than 850 million
personalised offers are executed via the platform every week, and
it currently hosts over 500 million loyalty member wallets for
businesses all over the world. Eagle Eye is a certified member of
the MACH Alliance and is trusted to deliver a secure service at
hundreds of thousands of physical POS destinations worldwide,
enabling the real-time issuance and redemption of promotional
coupons, loyalty offers, gift cards, subscription benefits and
more.
The Eagle Eye AIR platform is
currently powering loyalty and customer engagement solutions for
enterprise businesses all over the world, including Asda, Tesco,
Morrisons, Waitrose and John Lewis & Partners, JD Sports, Pret
a Manger, Loblaws, Southeastern Grocers, Giant Eagle, and the
Woolworths Group. In January 2024, Eagle Eye launched EagleAI, a
next-generation data science solution for personalisation, already
being used by leading retailers worldwide including Carrefour,
Auchan and Pattison Food Group. Web - www.eagleeye.com
