TIDMTRCS
RNS Number : 7640Q
Tracsis PLC
23 February 2023
23 February 2023
Tracsis plc
("Tracsis" or "the Group")
Trading Update and Notice of Results
Tracsis, a leading provider of software, hardware, data
analytics/GIS and services for the rail, traffic data and wider
transport industries, is pleased to provide the following trading
update for the six months ended 31 January 2023.
Trading for the first half of the year has been in line with the
Board's expectations.
Group revenue is expected to have increased to over GBP39m (H1
2022: GBP29.2m), with strong underlying growth in both Divisions.
EBITDA is expected to have increased by more than 20% (H1 2022:
GBP6.2m).
We continue to invest in integrating the Group's activities,
technologies and operating model to accelerate future growth. In
the first half of the year, we have taken a series of actions to
restructure the Group and accelerate technology investment. Both of
these will continue throughout the remainder of this financial year
as we respond to a growing pipeline of opportunities.
Cash balances remain strong at c.GBP17m (H1 2022: GBP25.1m; FY
2022 GBP17.2m) which enable the Group to continue to invest in
organic and acquisitive growth. [1]
The Rail Technology & Services Division has delivered
further growth in rail technology software licence usage and annual
recurring revenue. In the UK the Group has won new contracts for
the deployment of its Pay-As-You-Go smart ticketing technology
across smartcard, EMV (debit or credit card) and mobile app
platforms; delivered the second full deployment of TRACS
Enterprise; completed the roll-out of a large RailHub enterprise
software contract; and saw strong demand for its remote condition
monitoring technology. In North America, RailComm is performing
well and has successfully delivered several projects in the period
including a large software licence deployment with a transit
customer. We continue to see good growth opportunities in this
large and growing market.
The Data, Analytics, Consultancy and Events Division saw high
activity levels across all business areas supported by several
large contract wins, many of which are multi-year in nature.
Importantly both the Events and Traffic Data businesses have now
completed a full post Covid lockdown recovery.
The Board's expectations for the year ending 31 July 2023 remain
unchanged.
Notice of Results and Investor Presentation
The Group's interim results will be announced on 3 April
2023.
The Board is committed to communicating with all investors
equally and directly, to ensure that its strategy, business model
and performance are clearly understood. Accordingly, as part of the
Group's interim results roadshow, a live online investor
presentation will be given by management on Wednesday 5 April at
1pm UK time.
Anyone wishing to participate should register here:
https://bit.ly/TRCS_H1_webinar
The information contained within this announcement is deemed by
the Company to constitute inside information under the Market Abuse
Regulation (EU) No. 596/2014.
Enquiries:
Tracsis plc Tel: 0845 125 9162
Chris Barnes, CEO
Andy Kelly, CFO
finnCap Ltd Tel: 020 7220 0500
Christopher Raggett/Charlie Beeson, Corporate
Finance
Andrew Burdis/Sunila de Silva, Corporate
Broking
Alma PR Tel: 020 3405 0205
David Ison/Hilary Buchanan/Joe Pederzolli tracsis@almapr.co.uk
Notes to editors:
-- Tracsis plc is a technology company and a leading provider of
software and hardware products, data capture and data analytics/GIS
services for the rail, traffic data and wider transport
industries.
-- Tracsis' products and services are widely used to increase
efficiency, reduce cost and risk, improve operational and asset
performance, improve safety management and decision making
capabilities and improve the overall end-user experience for
clients and customers.
-- The Group is split into two principle operating areas built
around detailed industry knowledge and expertise:
- Rail Technology & Services: A software, technology and
product led business. It develops and supplies software that solves
complex resource, asset optimisation and control problems for Train
Operators, and Smart Ticketing, Delay Repay and other retail
software to improve the customer experience for rail users. It also
develops remote condition monitoring hardware, data acquisition
software, and safety and risk management software for rail
infrastructure providers.
- Data, Analytics, Consultancy & Events : A largely services
led business that focuses on data capture, data analytics, GIS,
earth observation, data insights, consultancy and event traffic
management within a range of transport and pedestrian rich
environments. The business provides technology and bespoke products
and data that underpin large scale intelligent transport systems,
smart city planning and positive environmental decision making.
-- Tracsis has a blue-chip client base which includes all major
UK transport owning groups, Network Rail, Passenger and Freight
Train Operating Companies, the Department for Transport, TfL,
multiple local authorities, major outdoor music and sporting event
organisers, and a wide variety of large engineering and
infrastructure companies. In North America our clients include
Class 1 rail freight companies, transit operators, shortline
railroads and several large rail served ports and industrials.
-- The business drives growth both organically and through
acquisition and has made seventeen acquisitions since 2008.
For more information on Tracsis please visit
http://www.tracsis.com
[1] This cash balance includes $2.7m (GBP2.2m) held in escrow
following the RailComm acquisition in March 2022, which will be
payable during the year ending 31 July 2023 subject to RailComm
achieving certain financial targets in the first full year post
acquisition.
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END
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February 23, 2023 02:00 ET (07:00 GMT)
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