Trading Update

RNS Number : 3519Q

Accesso Technology Group PLC

27 October 2021

 

27 October 2021

accesso ® Technology Group plc

("accesso" or the "Group")

Trading Update

accesso Technology Group plc (AIM: ACSO) , the premier technology solutions provider to leisure, entertainment and cultural markets, today gives the following update on trading:

Following the announcement of its interim results on 14 September 2021, accesso has seen continued strong performance through September and into the October trading period. The Group's performance continues to be driven by high demand in its end markets, coupled with the increasing use of its revenue-generating technology across its customer base. As a result, the Group now expects revenue for the full year 2021 to be no less than $124m. 

The Group's profitability continues to improve as the growth in its higher-margin products outpaces those products with lower margins. It also continues to see an impact from a lag in its return to normal cost levels while it deploys additional resources to calibrate for the increased demand. As previously signaled, these investments will have a limited impact on Cash EBITDA in 2021, while their full annualised effect will be felt in the 2022 financial year. Due to these dynamics the Group now expects its Cash EBITDA margin for the full year 2021 to exceed 20%.

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	[phone]
Numis Securities Limited Simon Willis, Hugo Rubinstein, Mark Lander	[phone]
FTI Consulting Matt Dixon, Adam Davidson, Jamille Smith	[phone]

About accesso Technology Group

At accesso, we believe technology has the power to redefine the guest experience. Our patented and award-winning solutions drive increased revenue for attraction operators while improving the guest experience. Currently serving over 1,000 clients in more than 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 stands as the leading technology provider of choice for tomorrow's attractions, venues and institutions. We invest 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 innovative technology solutions allow venues to increase the volume and range of on-site spending and to drive increased transaction-based revenue through cutting edge ticketing, point-of-sale, virtual queuing, distribution and experience management software.

Furthermore, COVID-19 has highlighted the benefits our technology is able to bring to venues from facilitating social distancing using our robust and sophisticated virtual queuing solutions; reservation systems delivered through our agile eCommerce platform to enable capacity management, taking queues away from front gates; and attraction eateries utilising our contactless food and beverage offerings. 

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 understand 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 .

 

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