Accesso Technology Group PLC Trading update (6223Z)
January 26 2022 - 2:00AM
UK Regulatory
TIDMACSO
RNS Number : 6223Z
Accesso Technology Group PLC
26 January 2022
26 January 2022
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 provides the following update ahead of its
full year results announcement.
The solid trading performance reported in the Group's October
update continued through the remainder of 2021. Despite some
impacts due to the emergence of the Omicron variant in December,
the Group expects to deliver revenue for the full year 2021 of not
less than $124m, well ahead of its initial full year expectation
and in line with the Board's updated guidance issued in October.
The Group also expects profit to be in line with its October
guidance of a Cash EBITDA margin above 20%. The Group's cash
position at the end of the year was approximately $64m, with an
undrawn facility of GBP18m.
The Group's 2021 revenue performance amid the pandemic is a
clear reflection that demand for its technology is strong and its
market opportunity is significant. Venue operators are increasingly
focused on leveraging technology to meet their guests' mobile-first
expectations while operating more efficiently. This has resulted in
increased utilisation of accesso solutions within the Group's
existing client base as well as robust levels of interest from new
customers wishing to sign on. The Group will expand on its view of
its 2022 outlook at the time of its results in March.
For further information please contact:
accesso Technology Group plc
Steve Brown, Chief Executive Officer
Fern MacDonald, Chief Financial Officer +44 (0)118 934 7400
Numis Securities Limited (Nominated Adviser
and Sole Broker)
Simon Willis, Hugo Rubinstein +44 (0)20 7260 1000
FTI Consulting, LLP
Matt Dixon, Adam Davidson, Jamille Smith,
Tom Blundell +44 (0)20 3727 1000
About accesso Technology Group, plc
At accesso, we believe technology has the power to redefine the
guest experience. Our patented and award-winning solutions drive
increased revenue for attractions operators while improving the
guest experience. Currently serving over 1,000 venues in 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 invests 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 commitment to improving the guest experience and helping our
clients increase revenue is the core of our business. Our
technology solutions allow venues to increase the volume and range
of on- and off-site spending, and to drive increased
transaction-based revenue through cutting-edge ticketing,
point-of-sale, virtual queuing, distribution and experience
management software.
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 understands 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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