Heineken México, page-2

First of all - no idea why you created a new thread and could not use the existing discussion with 9 replies.

Secondly - MSA's have no value when it comes to GSW. They are all subject to take-up and these companies actually using the software which then generates revenue. There is no minimum cost in the contracts. Revenue can be (and to be really pointed, they have been in the past) zero.

"The value generated by the services cannot be determined at this time because it is subject to take-up utilization."

Until these MSA's deliver actual revenue to the company, it falls into the "nice to know, believe it when I see it" category. GSW does not have a good track record in these things, and certainly don't announce the "Oh, that MSA with X we announced 2 months ago is now generating $x monthly revenue".

The rest is just feelgood fluff. Lets see the 4C in 13 trading days. It's all down to results now, GSW must deliver meaningful growth in revenue.