23 February 22
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.
The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.
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 de Silva, Corporate Broking
Alma PR | Tel: 020 3405 0205 David Ison / Hilary Buchanan / Joe Pederzolli firstname.lastname@example.org