Contract Award and Trading Update

RNS Number : 2595Q

Trakm8 Holdings PLC

25 February 2021

 

25 February 2021

Trakm8 Holdings plc

('Trakm8' or the 'Group')

Contract Award and Trading Update

Trakm8 Holdings plc (AIM:TRAK), a leading telematics and data supplier to global markets, is pleased to announce that it has been awarded a long term contract to deploy over a 1,000 RH600 integrated telematics and cameras systems to The Parts Alliance Group.

Trakm8 will supply the full fleet management and driver behaviour solutions based on Insight, the Group's leading analytics and data platform.

Outlook

Revenue in the second half will be approximately 15% up on the first half, despite the second and third Covid-19 lock-downs which have had a significant adverse effect on our Insurance customers as a result of the temporary suspension of driving tests.  Full year revenue is expected to be approximately 20% lower than FY20, with Covid-19 compromising what would otherwise have been a year of growth.  This will result in a modest adjusted loss before tax broadly similar to last year.

Whilst disappointed that Covid-19 has pushed back the return to material growth by 12 months, the Directors are confident that the Group is well positioned to return to growth driven by its expanding Insurance customer base and continually improving Fleet sales team performance.

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For further information:

Trakm8 Holdings plc
John Watkins, Executive Chairman	Tel: [phone]
Jon Furber, Finance Director	www.trakm8.com
Arden Partners plc (Nominated Adviser & Broker)	Tel: [phone]
Paul Shackleton, Head of Corporate Finance	www.arden-partners.com

Simon Johnson, Head of Sales

About Trakm8

Trakm8 is a UK based technology leader in fleet management, insurance telematics, connected car, and optimisation. Through IP owned technology, the Group analyses data collected by its installed base of telematics units to fine tune the algorithms that are used to produce its solutions; these monitor driver behaviour, identify crash events and monitor vehicle health to provide actionable insights to continuously improve the security and operational efficiency of both company fleets and private drivers.

The Group's product portfolio includes the latest data and reporting portal (Trakm8 Insight), integrated telematics/cameras, self-installed telematics units and one of the widest ranges of installed telematics devices. Trakm8 has over 253,000 connections.

Headquartered in Coleshill near Birmingham alongside its manufacturing facility, the Group supplies to the Fleet, Optimisation, Insurance and Automotive sectors to many well-known customers in the UK and internationally including the AA, Saint Gobain, EON, Iceland Foods, Direct Line Group, LexisNexis and Ingenie.

Trakm8 has been listed on the AIM market of the London Stock Exchange since 2005.

www.trakm8.com / @Trakm8

 

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