Final Results

10 November 21

Tracsis plc

("Tracsis", "the Company" or "the Group")

Tracsis, a leading provider of software, hardware, data analytics/GIS and services for the rail, traffic data and wider transport industries, is pleased to announce its audited final results for the year ended 31 July 2021.

Financial Highlights:

  • Strong financial performance with a return to growth in revenue and increased profit despite continued Covid-19 challenges

  • Revenue increased to £50.2m (2020: £48.0m) with growth in the higher margin Rail Technology & Services Division and in Data Analytics/GIS only partially offset by lower sales in our Events and Traffic Data businesses as expected due to ongoing Covid-19 restrictions on their end markets

    • Revenue growth of 12.7% in Rail Technology & Services Division

    • Revenue decrease of only 3.0% in Data, Analytics, Consultancy & Events Division which was impacted by Covid-19

  • Adjusted EBITDA* of £13.0m (2020: £10.5m) reflects growth in software revenue and the positive impact of cost reduction actions taken in response to the pandemic

  • PBT increased to £4.6m (2020: £4.1m)

  • Cash balance of £25.4m (31 July 2020: £17.9m) with no Covid deferrals due to be paid

  • The Board is not declaring a final dividend but expects to restore the progressive dividend policy for the year to 31 July 2022

Operational Highlights:

  • Large, multi-year RailHub enterprise software contract win in the UK which will double user base to over 30,000 individuals

  • Continued to implement a number of large multi-year TRACS Enterprise rail contracts won in previous years

  • Continued growth of pipeline of other multi-year rail contract opportunities

  • Well positioned to benefit from the strategic direction outlined for the UK Rail Industry in the Williams-Shapps plan for Rail

  • Strengthened the Group's transport insights offering through the acquisition of Flash Forward Consulting Ltd

  • Continued investment in Group integration, management capability, processes and systems including launch of new groupwide branding and securing ISO27001 certification across all our rail businesses

Post year end Highlights:

  • Rebound of activity levels in Events and Traffic Data with both markets expected to recover to full activity levels through the course of the coming year

  • Acquisition of Icon Group to enhance the Group's Data Analytics/GIS capabilities

  • Secured another smart ticketing contract award in the UK

  • Q1 trading in line with Board's expectations and well positioned to deliver further growth in the coming financial year and beyond

*Earnings before finance income & expense, tax, depreciation, amortisation, exceptional items, other operating income, share-based payment charges and share of result of equity accounted investees. See note 6 for reconciliation.

Chris Barnes, Chief Executive Officer, commented: "I am pleased with our strong performance this year in the face of continued Covid-19 challenges. This reflects the great job our teams have done in steering the business through the pandemic. My highest priorities were to look after the wellbeing of all our employees and to protect as many jobs as possible, and I am really pleased that all parts of the Group are now busy as the Covid restrictions on our end markets have been lifted.

We have a record pipeline of large multi-year opportunities across all business units, and we are continuing to implement a number of large contracts won in previous years. We completed delivery of a large RailHub enterprise software contract at the end of the year, which is a significant achievement for our safety and risk management software business and creates a strong foundation for future growth. The publication of the Williams-Shapps plan for Rail has established the strategic direction of the UK Rail Industry, and Tracsis is well positioned to help deliver this vision. We have a number of TRACS Enterprise contracts which will go-live in early 2022.

In the Data, Analytics, Consultancy and Events Division we continue to see high activity levels in the Data Analytics/GIS market. The recent acquisition of Icon Group further expands our capabilities and offering in this growing market. Our consultancy business has been strengthened following the acquisition of Flash Forward Consulting in February 2021. This has now been fully integrated and we are seeing a growing pipeline of opportunities as a result. Activity levels in the Events and Traffic Data business that were hardest hit by the pandemic have started to rebound strongly. Provided that we do not return to lockdown restrictions, we expect both markets to recover to full activity levels through the course of the coming year.

We are confident that there are strong growth prospects for all parts of the Group and therefore remain committed to implementing our overall strategic growth and investment plans. We will continue to pursue organic and acquisitive growth supported by a strong balance sheet"

Presentations and Overview video Tracsis is hosting an investor webinar on Friday 12 November, at 13:30 hrs GMT. If you would like to attend please register here:

A video overview of the results from the CEO, Chris Barnes, and CFO, Andy Kelly, is available to watch here:


Tracsis plc | Tel: 0845 125 9162
Chris Barnes, CEO
Andy Kelly, CFO

finnCap Ltd | Tel: 020 7220 0500
Christopher Raggett, Charlie Beeson, Corporate Finance
Andrew Burdis, Sunila da Silva Corporate Broking

Alma PR | Tel: 020 3405 0205 David Ison / Hilary Buchanan / Joe Pederzolli