The deals with KNG Kärnten Netz, which distributes electricity in the Austrian province of Carinthia, and Stadtwerke Kapfenberg is an opportunity for further growth of the Kranj-based company.

The two clients will set up on their networks a total of 95,000 smart electricity metres in the next two years, with first deliveries being planned for the end of 2015.

The contracts have an option through 2024 under which Iskraemeco could deliver an additional 250,000 metres to the Austrian companies.

Iskraemeco last year increased its revenue to EUR 70m from EUR 65.4m in 2014, while its net profit amounted to EUR 2.6m.