Accesso Technology Group PLC Trading Update (3519Q)
October 27 2021 - 2:00AM
UK Regulatory
TIDMACSO
RNS Number : 3519Q
Accesso Technology Group PLC
27 October 2021
27 October 2021
accesso (R) Technology Group plc
("accesso" or the "Group")
Trading Update
accesso Technology Group plc (AIM: ACSO) , the premier
technology solutions provider to leisure, entertainment and
cultural markets, today gives the following update on trading:
Following the announcement of its interim results on 14
September 2021, accesso has seen continued strong performance
through September and into the October trading period. The Group's
performance continues to be driven by high demand in its end
markets, coupled with the increasing use of its revenue-generating
technology across its customer base. As a result, the Group now
expects revenue for the full year 2021 to be no less than
$124m.
The Group's profitability continues to improve as the growth in
its higher-margin products outpaces those products with lower
margins. It also continues to see an impact from a lag in its
return to normal cost levels while it deploys additional resources
to calibrate for the increased demand. As previously signaled,
these investments will have a limited impact on Cash EBITDA in
2021, while their full annualised effect will be felt in the 2022
financial year. Due to these dynamics the Group now expects its
Cash EBITDA margin for the full year 2021 to exceed 20%.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this
announcement, this inside information is now considered to be in
the public domain
For further information, please contact:
accesso Technology Group plc
Steve Brown, Chief Executive
Officer
Fern MacDonald, Chief Financial +44 (0)118 934
Officer 7400
Numis Securities Limited
Simon Willis, Hugo Rubinstein, +44 (0)20 7260
Mark Lander 1000
FTI Consulting
Matt Dixon, Adam Davidson, Jamille +44 (0) 203
Smith 727 1000
About accesso Technology Group
At accesso, we believe technology has the power to redefine the
guest experience. Our patented and award-winning solutions drive
increased revenue for attraction operators while improving the
guest experience. Currently serving over 1,000 clients in more than
30 countries around the globe, accesso's solutions help our clients
streamline operations, generate increased revenues, improve guest
satisfaction and harness the power of data to educate business and
marketing decisions.
accesso stands as the leading technology provider of choice for
tomorrow's attractions, venues and institutions. We invest heavily
in research and development because our industries demand it, our
clients benefit from it and it makes a positive impact on the guest
experience. Our innovative technology solutions allow venues to
increase the volume and range of on-site spending and to drive
increased transaction-based revenue through cutting edge ticketing,
point-of-sale, virtual queuing, distribution and experience
management software.
Furthermore, COVID-19 has highlighted the benefits our
technology is able to bring to venues from facilitating social
distancing using our robust and sophisticated virtual queuing
solutions; reservation systems delivered through our agile
eCommerce platform to enable capacity management, taking queues
away from front gates; and attraction eateries utilising our
contactless food and beverage offerings.
Many of our team members come from backgrounds working within
the attractions and cultural industry. In this way, we are
experienced operators who run a technology company serving
attractions operators, versus a technology company that happens to
serve the market. Our staff understand the day-to-day operations of
managing complex venues and the challenges this creates, and
together we strive to provide our clients and their guests with
technology that empowers them to do more and enjoy more. From our
agile development team to our dedicated client service specialists,
every team member knows that their passion, integrity, commitment,
teamwork and innovation are what drive our success.
accesso is a public company, listed on AIM: a market operated by
the London Stock Exchange. For more information visit
www.accesso.com . Follow accesso on Twitter , LinkedIn and Facebook
.
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END
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