Trading Update

23 February 23

Tracsis plc

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 2023.

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 over £39m (H1 2022: £29.2m), with strong underlying growth in both Divisions. EBITDA is expected to have increased by more than 20% (H1 2022: £6.2m).

We continue to invest in integrating the Group’s activities, technologies and operating model to accelerate future growth. In the first half of the year, we have taken a series of actions to restructure the Group and accelerate technology investment. Both of these will continue throughout the remainder of this financial year as we respond to a growing pipeline of opportunities.

Cash balances remain strong at c.£17m (H1 2022: £25.1m; FY 2022 £17.2m) which enable the Group to continue to invest in organic and acquisitive growth.¹

The Rail Technology & Services Division has delivered further growth in rail technology software licence usage and annual recurring revenue. In the UK the Group has won new contracts for the deployment of its Pay-As-You-Go smart ticketing technology across smartcard, EMV (debit or credit card) and mobile app platforms; delivered the second full deployment of TRACS Enterprise; completed the roll-out of a large RailHub enterprise software contract; and saw strong demand for its remote condition monitoring technology. In North America, RailComm is performing well and has successfully delivered several projects in the period including a large software licence deployment with a transit customer. We continue to see good growth opportunities in this large and growing market.

The Data, Analytics, Consultancy and Events Division saw high activity levels across all business areas supported by several large contract wins, many of which are multi-year in nature. Importantly both the Events and Traffic Data businesses have now completed a full post Covid lockdown recovery.

The Board's expectations for the year ending 31 July 2023 remain unchanged.

¹ This cash balance includes $2.7m (£2.2m) held in escrow following the RailComm acquisition in March 2022, which will be payable during the year ending 31 July 2023 subject to RailComm achieving certain financial targets in the first full year post acquisition.

Notice of Results and Investor Presentation

The Group's interim results will be announced on 3 April 2023. 

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 on Wednesday 5 April at 1pm UK time.

Anyone wishing to participate should register here:

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