Last checked at 25 Aug 2021 07:32
25 August 2021
Tracsis plc
("Tracsis" or "the Group")
Trading Update
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 2021.
Group revenues are expected to be close to £50m (2020: £48.0m) reflecting a strong end of year recovery in activity levels in our Traffic Data and Events business units, and further organic growth in the Rail Technology and Services Division and in Data Analytics/GIS. The Group expects to report an adjusted EBITDA margin in excess of 25% (2020: 21.8%) which includes the positive impact of cost reduction actions taken in response to the pandemic.
Cash balances at the end of July were c£25.4m (2020: £17.9m) with no Covid deferrals due to be paid. This once again reflects strong cash generation within the Group and provides a strong platform for continued investment in future organic and acquisitive growth opportunities.
Our Rail Technology and Services Division has continued to trade well. The Division benefits from high levels of recurring software revenue and has a large pipeline of multi-year opportunities. Performance for the year to 31 July 2021 includes the initial benefit from the large RailHub Enterprise Software contract win announced in July 2021, as well as continued strong demand for our Remote Condition Monitoring products.
The Data, Analytics, Consultancy and Events Division has performed well despite the impact of Covid-19 on the end markets of our Traffic Data and Events businesses. Our primary objective throughout the Covid pandemic has been to protect jobs and employee wellbeing, as a result of which we have been well positioned to respond quickly to increased demand in both markets as Covid restrictions have been lifted. We anticipate further recovery in activity levels through Q1 of FY 21/22, supported by the recently announced Government-backed insurance scheme for the live events sector.
Results for the year ended 31 July 2021 will be announced to the market in November 2021.
Enquiries:
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Tracsis plc | Tel: 0845 125 9162 |
Chris Barnes, CEO |
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Andy Kelly, CFO |
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finnCap Ltd | Tel: 020 7220 0500 |
Christopher Raggett/Charlie Beeson, Corporate Finance |
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Andrew Burdis, Corporate Broking |
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Alma PR | Tel: 020 3405 0205 |
David Ison/Hilary Buchanan/Joe Pederzolli | tracsis@almapr.co.uk |
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Notes to editors:
· Tracsis plc 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 and technology/product led business. Develops remote condition monitoring hardware, data acquisition software and safety and risk management software for rail infrastructure providers. 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.
- Data, Analytics, Consultancy & Events: A largely services led business that focuses on data capture, data analytics, GIS, data insights, consultancy and event traffic management within a range of transport and pedestrian rich environments. The business provides technology/bespoke products and data that underpins large scale intelligent transport system and smart city planning and decision making.
· Tracsis has a blue-chip client base which includes all major UK transport owning Groups. The business also works extensively with Network Rail, Train Operating Groups and 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.
· The business drives growth both organically and through acquisition and has made fifteen acquisitions since 2008.
For more information on Tracsis please visit http://www.tracsis.com