Vivid Technology increases presence in retail property market

Vivid Technology (ASX: VIV) has received orders totalling over $800k from leading Australian retail property customers for energy efficiency upgrades across multiple existing retail sites.

Key Highlights:

• Vivid Technology continues to grow its presence across the retail property market portfolio with new orders of over $800k from major retail property groups.
• These new orders represent continuing major wins within the retail property market segment in recent months.
• Reflects strong confidence and validation of Vivid Technology’s products and strategy within the retail property industry sector.

Combined, the customers have over 200 retail properties across their portfolios, and have embarked on energy efficiency drives to help mitigate the impact of continuing increasing electricity costs. This approach also allows retail property groups to maintain a high performance energy and environmentally efficient property portfolio.

The orders continue to reaffirm and strengthen the strong capability and reputation that Vivid Technology has developed across the retail property industry segment, in delivering tangible cost and energy savings for its customers.

These new orders represent the second time in recent months that Vivid Technology has secured multiple orders from this industry segment, following previous orders secured for major shopping centres as announced in March 2017.

Management Commentary

Vivid Technology’s Managing Director Samuel Marks said it was pleasing to see Vivid Technology continue to be selected by sophisticated and educated customers in the market, who increasingly value quality and product longevity as a differentiated capability.

These benefits are recognised as critical in bringing tangible cost savings and benefits over a significant longer term horizon when compared to other offerings in the market today.

“Vivid Technology’s smart lighting systems continue to validate their high savings in energy and CO2 to retail property owners, managers and developers, and are having a direct positive impact on their profitability.

Faced with increasing energy prices, our technology and differentiated approach has increasingly seen Vivid Technology embraced as a trusted partner in assisting the retail market segment to tangibly reduce their overall energy costs and improve profitability.”