KLBT.L Regulatory News (KLBT)

15 July 2015

Kalibrate Technologies PLC

("Kalibrate" or the "Group")

Trading Update

- Revenue progress across all geographies -

- Pace of customer conversion to SaaS-based models increases -

Kalibrate Technologies plc (AIM: KLBT), a provider of proprietary software-based products and services to the global petroleum retail industry, provides the following update on trading for the year ended 30 June 2015.

The Board expects revenue and EBITDA for the full year to be in line with market expectations. The Group has continued to secure revenue growth in its core markets as well as in new geographies earmarked for expansion. Progress in transitioning clients from perpetual license deals to Software-as-a-Service ("SaaS") agreements has also been faster than first expected.

Accelerated transition to SaaS

During the year, the Group has secured multiple new contracts wins. In line with the Group's strategy, these have been secured largely on a SaaS basis which offers Kalibrate greater revenue visibility, longer-term client relationships typically of three to five year fixed terms and higher overall gross margins. At the same time, the Group has also converted a number of existing perpetual license clients to SaaS-based agreements.

Whilst this acceleration has had some short-term impact on the revenue and cash generated in this financial year, it has served to improve the quality of earnings the Group can expect in future years. Annualised recurring revenues at 30 June 2015 stood at $21.0m compared to $19.6m one year ago. The Group's order book has also increased by 15% year on year to $41.4m.

The Group's balance sheet remains strong with cash at 30 June 2015 of $4.6m.

Growth in core and new markets

During the period, Kalibrate has seen revenue growth in both core geographies and new ones. Kalibrate's market reputation in core markets such as North America and Europe remains robust, securing in Q4 significant perpetual license wins with two new North American and one new European fuel retailer.

The Group has secured new clients for its Planning services in Bosnia, Bulgaria, Chile, the Czech Republic, Ireland, Kenya, Mexico, Romania and Serbia and has also begun to deploy its Pricing services in Brazil. In each of these growth markets, the drivers for the Group's progress remain the deregulation of fuel pricing in various countries, increased competitiveness in the fuel retail industry and add-on business from existing satisfied clients.

Kalibrate expects to report results for the year ended 30 June 2015 on 8 September 2015.

Commenting on Trading, Bob Stein, Chief Executive Officer of Kalibrate said:

"We are pleased to have delivered to the expectations set of us for this year. The past twelve months have seen us make rapid progress in our plans to secure business on new, more visible, more long-term SaaS relationships. It is a change that we have committed to make for Kalibrate's long-term financial strength and our clients appear to have a strong appetite for it too. 2016 will see us continue to make this transition, allowing us to create a Group that can deliver higher recurring revenues, even stronger client relationships and enhanced margins for the long term."

Kalibrate Technologies plc via FTI Consulting LLP

Bob Stein, Chief Executive Officer

Gregg Budoi, Chief Financial Officer

N+1 Singer Advisory LLP +44 (0) 20 7496 3000

Shaun Dobson / Ben Wright

FTI Consulting LLP + 44 (0) 20 3727 1000

Matt Dixon / Chris Lane / Emma Appleton

About Kalibrate Technologies plc

Kalibrate's strategy and technology solutions empower fuel retailers around the globe to drive greater value on investment and achieve greater success on their own terms. Its proven software and analytics solutions draw on more than 20 years of strategic expertise and insight into the needs and opportunities of fuel retailers. Kalibrate is headquartered in Manchester, United Kingdom with offices in Florham Park, New Jersey and, Tulsa, Oklahoma (US), Tokyo, Japan, Seoul, Korea, Mumbai, India, Shanghai, China and Rio de Janeiro, Brazil. For more information, please visit KalibrateTech.com.

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