Bronze: Winning a tender for the supply of water meters in Spain in the amount of 13 million euros

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It is reported that the Spanish subsidiary Contresa (100%) won a tender from the cellular communications company Telefonica, for the supply of water meters, for a total amount of about 13 million euros.

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According to the company’s announcement, as part of the agreement, Canal Isabel II, the Madrid Water Corporation, will supply the Contreza water meters that transmit via a cellular network (NB-IoT). The estimated financial volume of the water meter supplies by Contreza in the framework of the tender is approximately 13 million euros. The supply of the uniform is expected during 2022, subject to the signing of a detailed agreement with the Water Corporation.

Last week, the company published its results for the third quarter of 2021, in which it posted revenues totaling approximately $ 70.7 million, compared to approximately $ 64.7 million in the corresponding quarter last year, an increase of 9.3%. Operating profit for the quarter amounted to approximately $ 6.4 million (constituting approximately 9.1% of total revenues), compared with approximately $ 6.1 million (constituting approximately 9.4% of total revenues) in the corresponding quarter last year, an increase of approximately 5.7%.

Gabi Yankovich, CEO of the Arad Group: “The important win in the Madrid tender is the result of continuous investment in the group’s research and development to create technological leadership. The group offers its customers around the country and the world, accurate, quality and reliable measurement products. As part of technological change and IoT “NBIOT, CATM LORA, RF and more. Winning in Madrid is a successful combination of advanced technology developed by the group, along with the implementation of the cooperation agreement with TELEFONICA, one of the leading companies in the world of cellular communications.”

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