BidEnergy’s Shares Mounted on ASX After Signing a Five-Year Agreement With Cushman and Wakefield.

  • Dec 17, 2018 AEDT
  • Team Kalkine
BidEnergy’s Shares Mounted on ASX After Signing a Five-Year Agreement With Cushman and Wakefield.

Australian-based technology company BidEnergy Limited (ASX:BID) made an announcement on 17 December 2018 stating that it has entered into a five-year agreement with the Australian division of Cushman and Wakefield (C&W) to provide end to end energy spend lifecycle management services for the supply of electricity and natural gas, water and council rates to its customers. Following this news, the share price of the BidEnergy increased by 6.061 percent as on 17 December 2018.

The onboarding and integration with C&W will now commence, and the first revenues under the Agreement are expected to begin from March 2019 to be completed by 1 July 2019. The revenue generated by BidEnergy under the agreement is currently expected to contribute 18 percent to Annualised Subscription Revenue (ASR) once all the meters have been on-boarded.

The agreement between both the companies is subject to cancellation and termination provisions which means that C&W at its convenience can cancel or terminate the multiyear contract without cause, upon giving written notice.

BidEnergy’s Managing Director Mr. Guy Maine said that the company is very excited to be chosen by Cushman and Wakefield to assist them in providing their clients with first-class energy spend management services supported by the power of its global leading Robotic Process Automation (RPA) solution. He further added that more and more enterprise customers see an upside that RPA delivers.

RPA provides quick, immediate access to core business data, accuracy that only robotics can achieve. Further, it is a cost-effective solution that enables people to become more productive with the manual, laborious workload removed. As per the company’s announcement, since December 31st, 2017, all new customer acquisitions have contributed to BidEnergy’s ASR increasing 89 percent to $3.4 million from $1.8 million.

Earlier on 13 December 2018, the company’s securities were placed into a trading halt at the request of BidEnergy pending an announcement regarding the acquisition of a material customer contract.

In the September quarter of 2018, the company reported an underlying revenue (unaudited) of $1.3 million which was $1.0 million higher than the June quarter of 2018. Further, the company reported the group’s total combined annualized revenue of $4.7 million in the September quarter which includes $2.7 million of Annualized Subscription Revenue and $2.0 million of Annualized Rebate Capture Revenue. At the end of the September quarter of 2018, the company had cash on hand of $4.6 million which was $5.3 million less than the June quarter of 2018.

In the last six months, the share price of BID increased by 263.97 percent as on 12 December 2018. BID’s shares traded at $1.050 with a market capitalization of circa $107.83 million as on 17 December 2018.


This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.


All pictures are copyright to their respective owner(s) does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.


There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK