REG - Accesso Technology - Trading update

accesso TechnologyAnnouncement

26/01/2022 07:05

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RNS Number : 6223Z  Accesso Technology Group PLC  26 January 2022

26 January 2022

 

accesso ® Technology Group plc

 

("accesso" or the "Group")

 

Trading update

 

accesso (http://www.accesso.com/)  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
£18m.

 

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                                     +44 (0)118 934 7400

 Steve Brown, Chief Executive Officer

 Fern MacDonald, Chief Financial Officer

 Numis Securities Limited (Nominated Adviser and Sole Broker)     +44 (0)20 7260 1000

 Simon Willis, Hugo Rubinstein

 FTI Consulting, LLP                                              +44 (0)20 3727 1000

 Matt Dixon, Adam Davidson, Jamille Smith, Tom Blundell

 

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
(http://www.accesso.com/) . Follow accesso on Twitter
(https://twitter.com/accessotech) , LinkedIn
(https://www.linkedin.com/company/accesso/) and Facebook
(https://www.facebook.com/accessoTechnologyGroup/) .

 

 

 

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