TIDMTRCS
RNS Number : 9869W
Tracsis PLC
24 August 2022
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 year ended 31 July 2022.
Group revenue is expected to have increased to c.GBP69.0m (2021:
GBP50.2m), reflecting strong organic and acquisitive growth. Both
divisions have delivered high levels of revenue growth, which
includes a strong post-Covid lockdown recovery of activities in the
Events and Traffic Data business units, the contribution from the
RailComm and Icon GEO businesses that were acquired in the year,
and the initial benefit from the previously announced multi-year
Rail Technology software contracts that were won during the year.
The Group expects adjusted EBITDA to be ahead of market
expectations.
The Group's cash balance remains strong at c.GBP17.2m (2021:
GBP25.4m), which enables the Group to continue to invest in its
technology base and to support future organic and acquisitive
growth opportunities.(1)
The Rail Technology and Services Division has continued to trade
well. The Division benefits from high levels of recurring software
revenue, a fast-growing user base, and has a large pipeline of
multi-year opportunities. Performance for the year to 31 July 2022
includes the benefit from multi-year rail technology software
contracts that went live during the year. Following the acquisition
of RailComm, the Group has won several new rail contracts in North
America that will support ongoing revenue and profit growth in this
market.
The Data, Analytics, Consultancy and Events Division has
delivered revenue growth ahead of expectations, driven by a very
strong post-Covid lockdown recovery of activities in the Events and
Traffic Data business units in the final quarter of the financial
year. There was also strong revenue growth in both the Transport
Insights and Data Analytics/GIS businesses, including the benefit
from the acquisition of Icon GEO in November 2021.
Results for the year ended 31 July 2022 will be announced on 9
November 2022.
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 full year results roadshow, a live online investor
presentation will be given by management, hosted by piworld, on 11
November at 1.00pm UK time.
Anyone wishing to participate should register here:
https://bit.ly/TRCS_FY22_results
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 is a technology company and a leading provider of
software and hardware products, data capture and data analytic/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 customer experience for
clients and customers.
-- The Group is split into two principal operating areas built
around detailed industry knowledge and expertise:
- Rail Technology & Services: 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 solutions 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 system,
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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