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    MTO   GB0004657408

MITIE GROUP PLC

(MTO)
  Report
Delayed London Stock Exchange  -  11:35 2022-09-27 am EDT
62.80 GBX   -3.24%
04:41aMitie : Broadcaster extends facilities management contract with Mitie
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Mitie : appointed as supplier on the Carbon Energy Fund (CEF) National Framework Agreement for the provision of Carbon & Energy Infrastructure Upgrade Services

08/15/2022 | 04:43am EDT

Mitie has been appointed as a supplier on the Carbon and Energy Fund Infrastructure Upgrade Services Framework. The appointment provides Mitie with significant opportunities to support NHS hospitals and the wider public sector to achieve net zero targets by 2040, through developing major energy projects focused on decarbonisation.

The Framework, which will be managed by COCH (Countess of Chester Hospital) through its appointed service provider CEF, is designed to provide the NHS and the wider public sector with a streamlined and cost-efficient procurement route for upgrading energy systems and infrastructure through guaranteed fixed-term financial savings.

This appointment enables Mitie to tender for call-off contracts released by CEF on behalf of hospitals and wider public sector organisations to design, fund, deliver, operate, and maintain complex energy infrastructure upgrades where long-term energy saving performance is prioritised.

Only appointed suppliers are able to bid for work under this Framework for contracts with a combined total of up to £1bn in value. This cements Mitie's position as a key supplier to the public sector, enabling it to offer its significant expertise and experience in decarbonising public sector estates.

This Framework appointment builds on an already long-standing relationship between Mitie and CEF. Mitie launched 'Plan Zero' in 2020 with a commitment to reach net zero carbon emissions by 2025, and is on a mission to help more of its customers make their own sustainability and net zero targets a reality.

Pradyumna Pandit, Managing Director, Energy and Sustainability, Mitie, said:

"As part of our bid to help decarbonise Britain, we are committed to supporting our customers to reduce their carbon footprints and achieve their wider sustainability goals. This appointment enables us to offer our energy management and sustainability expertise to help NHS hospitals and wider public sector bodies become more energy efficient and reach their net zero potential."

Notes to editors

Founded in 1987, Mitie's job is to look after places where Britain works and is the leading facilities management company in the UK. We offer a range of services to the Public Sectors in Central Government and Defence and Communities (Healthcare, Education and Campus & Critical). Our Technical Services (Engineering Services, Energy, Water and Real Estate Services) and Business Services (Security, Cleaning and Office Services) divisions serve private sector customers in Telecoms, Financial & Professional Services, Transport and Industrials and increasingly to the public sector. Finally, our Specialist Services (Care & Custody, Landscapes, Waste Management and Spain) division serves both the public and private sectors in these niche businesses.

Mitie acquired Interserve's facilities management business on 30 November 2020 and now employs 72,000 people. We are the champion of the 'Frontline Heroes' who have kept Britain working during the COVID pandemic. We take care of our customers' people and buildings, through the 'Science of Service', delivering essential services and deploying industry-leading technology to create safe and effective workspaces.

The business continues to execute its technology-led strategy and in the past twelve months has received multiple awards.

Find out more at https://www.mitie.com.

Disclaimer

Mitie Group plc published this content on 15 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 August 2022 08:42:07 UTC.


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Financials
Sales 2023 3 821 M 4 108 M 4 108 M
Net income 2023 - - -
Net Debt 2023 31,7 M 34,1 M 34,1 M
P/E ratio 2023 -
Yield 2023 2,99%
Capitalization 838 M 901 M 901 M
EV / Sales 2023 0,23x
EV / Sales 2024 0,20x
Nbr of Employees 71 330
Free-Float 94,7%
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Number of Analysts 5
Last Close Price 62,80 GBX
Average target price 87,20 GBX
Spread / Average Target 38,9%
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Phillip Keague Bentley Executive Director
Simon Charles Kirkpatrick Chief Financial Officer & Director
Derek Mapp Chairman
Carlo Alloni Managing Director-Technical Services
Jennifer Duvalier Independent Non-Executive Director
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