Trading Update

RNS Number : 0448L

Accesso Technology Group PLC

08 September 2021

 

08 September 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, gives the following trading update ahead of its interim results which will be released on 14 September 2021.

Through July, August and the Labor Day holiday period, accesso has built on excellent first half performance and continued to capture high demand for its technology solutions. As a result, trading during this period was very strong. The Group's ongoing momentum now leads the Board to revise upwards its expectations for full year 2021 revenues to not less than $117m. This represents full recovery to 2019 trading levels.

This rapid growth in revenue alongside a slower return to normal operating expenses will result in Cash EBITDA being significantly ahead of current market expectations for both the half and the full year. The Group is currently deploying additional resources across technology implementation, product development and customer support to calibrate for the new demand. As previously signaled, these investments will have a limited impact on Cash EBITDA in 2021; their full annualised effect will be felt in the 2022 financial year.

For further information, please contact:

accesso Technology Group plc    [phone]

Steve Brown, Chief Executive Officer

Fern MacDonald, Chief Financial Officer

Numis Securities Limited   [phone]

Simon Willis, Hugo Rubinstein, Mark Lander 

FTI Consulting   [phone]

Matt Dixon, Adam Davidson, Jamille Smith

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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