X2M anticipates around A$0.4 million EBITDA per annum for every 100,000 smart devices installed

X2M executes first commercial contract in the Middle East with Dicode Smart Connect Electronics (DSCE) following a Term Sheet secured with Dicode Technologies in August 2024
The 10-year contract is for use of X2M’s data aggregation platform, “Vision by X2M” for gas operations in the United Arab Emirates (UAE)
The software licensing contract is high margin with first revenues expected this financial year
X2M anticipates around A$0.4 million EBITDA per annum for every 100,000 smart devices installed on the “Vision by X2M” utility solution in the Middle East
UAE presents a significant market opportunity with a population of 10 million people across 2.5 million dwellings with potential applications across the gas, water and electricity sectors
The parties intend to expand this offering beyond the UAE into the broader Middle East region
DSCE has now been awarded its first commercial ‘Metering-as-a-Service’ contract by Dubai based gas company, Ocean Gas