Last checked at 22 Jan 2013 07:00
22 January 2013
Ubisense Group plc
Year End Trading Update
Cambridge, UK - Ubisense Group plc ("Ubisense" or the "Company") (LSE:UBI), a market leader in location based smart technology, provides an update on trading performance for the full year to 31 December 2012.
The Group has displayed good momentum in the second half of the period but timing of some projects has led to revenue growth below market expectations and profitability in line with consensus expectations for the full year.
The Geospatial business is expected to deliver revenues slightly below the previous year but with increasing software sales, including promising early sales progress with the MyWorld product, resulting in improved margins.
In RTLS, the business continued to exhibit robust double-digit percentage revenue growth to help drive the Group's overall performance. The momentum in the second half was characterised by an increase in the scope and size of contracts, including production acceptance by Daimler. In addition, new installations were completed at BMW, BAE Systems, Hyundai, Lufthansa and US Steel.
The performance in RTLS was aided by the strategic partnership with Atlas Copco which has driven significant sales growth and introduced a number of high quality manufacturers to Ubisense's technology including Audi, John Deere and Smart.
Innovation remains critical to Ubisense's long-term future with the Group continuing to invest in next generation products and applications extending the Smart Factory Solution Suite.
The Group hadnet cash at 31 December 2012 of £2.6million. Ubisense continues to evaluate acquisition opportunities to supplement the RTLS business and further accelerate growth.
Richard Green, Chief Executive Officer, commented:
"We are pleased with the progress seen in the second half which will allow the Group to deliver a robust performance for the full year. Momentum within RTLS continues which is reflected in our strong pipeline and order book. We remain confident about capitalising on the substantial opportunities we see in high value manufacturing in order to continue to drive growth for the Group."
Ubisense expects to publish Preliminary Results for the full year in the week commencing 18 March 2013.
-ENDS-
Contact: | |
Ubisense Group | Tel: +44 (0) 1223 535170 |
Richard Green | |
Gordon Campbell | |
Canaccord Genuity Limited (NOMAD) | Tel: +44 (0) 20 7050 6500 |
Simon Bridges | |
Kit Stephenson | |
FTI Consulting | Tel: +44 (0) 20 7831 3113 |
Jon Snowball Tracey Bowditch | |
About Ubisense
Ubisense is a market leader of location-based smart technology which enables companies to optimise their business processes. By keeping track of key assets, Ubisense solutions bring clarity to complex operations in industries while also improving quality and reliability.
Ubisense uses a unique combination of advanced industry knowledge and an experienced team to deliver effective and superior solutions that offer unprecedented visibility, control and accuracy, delivering time and cost savings. Ubisense solutions are easy to implement and flexible to a particular businesses needs, no matter which area of the globe they operate in.
Ubisense offers two location-oriented products; RTLS (Real-time Location Solutions) and Geospatial Systems and operates in a number of industries ranging from manufacturing and utilities to transportation and is used by a number of blue chip customers across the world, such as BMW, Airbus, Aston Martin, Caterpillar and Deutsche Telekom.
Ubisense is headquartered in Cambridge, UK, with offices in the USA; Canada; France; Germany; Singapore and Korea. For more information visit: www.ubisense.net.