Last checked at 31 Jan 2023 07:00
31 January 2023
accesso ® Technology Group plc
("accesso" or the "Group")
accesso Technology Group plc (AIM: ACSO), the premier technology solutions provider for attractions and venues worldwide, today provides the following update ahead of its full year results announcement.
The Group's momentum has continued since the strong trading performance announced in November. Now with the full year in view, the Group expects to deliver record revenue for 2022 of not less than $139m - ahead of its initial full year expectations. The Group also continues to anticipate a strong operating performance with a Cash EBITDA margin of no less than 17%, consistent with the margin expectations set out at the November trading update. As a result, the Group's cash position at the end of the year was approximately $64m, with an undrawn facility of £18m.
The Group's expected full year performance underscores the increased demand for its range of innovative and highly differentiated technology, along with continued commitment to revenue growth and operational excellence. The Group will expand on its view of its 2023 outlook at the time of its results in March.
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement, this inside information is now considered to be in the public domain
For further information please contact:
accesso Technology Group plc Steve Brown, Chief Executive Officer Fern MacDonald, Chief Financial Officer
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| +44 (0)118 934 7400
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Numis Securities Limited (Nominated Adviser and Sole Broker) Simon Willis, Hugo Rubinstein
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| +44 (0)20 7260 1000 |
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FTI Consulting, LLP Matt Dixon, Adam Davidson, Jamille Smith, Tom Blundell |
| +44 (0)20 3727 1000 |
About accesso Technology Group, plc
At accesso, we believe technology has the power to redefine the guest experience. Our patented and award-winning solutions drive increased revenue for attractions operators while improving the guest experience. Currently serving over 1,000 venues in 30 countries around the globe, accesso's solutions help our clients streamline operations, generate increased revenues, improve guest satisfaction, and harness the power of data to educate business and marketing decisions.
accesso invests heavily in research and development because our industries demand it, our clients benefit from it and it makes a positive impact on the guest experience.
Our commitment to improving the guest experience and helping our clients increase revenue is the core of our business. Our technology solutions allow venues to increase the volume and range of on- and off-site spending, and to drive increased transaction-based revenue through cutting-edge ticketing, point-of-sale, virtual queuing, distribution and experience management software.
Many of our team members come from backgrounds working within the attractions and cultural industry. In this way, we are experienced operators who run a technology company serving attractions operators, versus a technology company that happens to serve the market. Our staff understands the day-to-day operations of managing complex venues and the challenges this creates, and together we strive to provide our clients and their guests with technology that empowers them to do more and enjoy more. From our agile development team to our dedicated client service specialists, every team member knows that their passion, integrity, commitment, teamwork and innovation are what drive our success.
accesso is a public company, listed on AIM: a market operated by the London Stock Exchange. For more information, visit www.accesso.com. Follow accesso on Twitter, LinkedIn and Facebook.