Trading Update and Notice of Results

RNS Number : 4828C

Tracsis PLC

23 February 2022

 

23 February 2022 

Tracsis plc

("Tracsis" or "the Group")

Trading Update and Notice of Results

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 six months ended 31 January 2022.

Trading for the first half of the year has been in line with the Board's expectations.

Group revenue is expected to have increased to c.£29m (H1 2021: £22.2m), which includes a strong post-Covid lockdown recovery of activities in the Events and Traffic Data business units. In the Rail Technology and Services Division, we have won several multi-year rail technology software contracts including our first multi-year contract in the rail freight sector for our TRACS Enterprise product suite.  

EBITDA is expected to have increased by around 10% (H1 2021: £5.4m). Cash balances remain strong at c.£25m (H1 2021: £20.8m) which enable the Group to continue to invest in our technology base and to pursue a growing pipeline of acquisition opportunities.

The integration of Icon Group, a Dublin-based interdisciplinary geoscience company specialising in Earth Observation that was acquired in November 2021, is progressing well.

The Board's expectations for the year ending 31 July 2022 remain unchanged.

The Group's interim results will be announced on 7 April 2022.

The Board is committed to communicating with all investors equally and directly, to ensure that its strategy, business model and performance are clearly understood. Accordingly, as part of the Group's interim results roadshow, a live online investor presentation will be given by management, hosted by piworld, on Friday 8 April at 1pm UK time.

Anyone wishing to participate should register here:  https://bit.ly/TRCS_Interim_webinar_r

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.

Enquiries:
Tracsis plc	Tel: [phone]
Chris Barnes, CEO
Andy Kelly, CFO
finnCap Ltd	Tel: [phone]
Christopher Raggett/Charlie Beeson, Corporate Finance
Andrew Burdis/Sunila de Silva, Corporate Broking
Alma PR	Tel: [phone]
David Ison/Hilary Buchanan/Joe Pederzolli	[e-mail]

Notes to editors:  

· Tracsis plc is a technology company and a leading provider of software and hardware products, data capture and data analytics/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 end-user experience for clients and customers. 

· The Group is split into two principle operating areas built around detailed industry knowledge and expertise:

-   Rail Technology & Services:   Software and technology/product led business. It develops and supplies 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. It also develops remote condition monitoring hardware, data acquisition software and safety and risk management software for rail infrastructure providers.

-   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 sixteen acquisitions since 2008.

For more information on Tracsis please visit  http://www.tracsis.com

 

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