REG - Quartix Technologies - AGM Trading Statement

Quartix TechnologiesAnnouncement

24/03/2023 07:00

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RNS Number : 0869U  Quartix Technologies PLC  24 March 2023

Quartix Technologies plc

("Quartix", "the Group" or "the Company")

AGM Trading Statement

 

 

Quartix Technologies plc, one of Europe's leading suppliers of vehicle
telematics services and driver analytics, issues the following trading
statement ahead of its Annual General Meeting later today.

The progress in new subscriptions recorded in 2022 has continued in to 2023.
New unit installations in the first two months increased by 9% in total
compared with the same period last year. Growth in new subscriptions continued
to be led by the French team.

Trading for the first two months of 2023 has been consistent with meeting
market expectations for the year.(  1 )

Richard Lilwall, Chief Executive Officer of Quartix Technologies plc,
commented: "The results for the first two months of 2023 have been
encouraging, with the increase in new subscriptions reflecting the investments
in sales and marketing initiatives made in 2022, and which are planned to be
continued this year. Customer interest in our EVolve electrical vehicle
analytics, and our newly launched Quartix Check condition measurement tool is
positive."

 

( 1 ) The Board believes that consensus market expectations for 2023, prior
to this announcement, were as follows: Revenue £30.8m, Adjusted EBITDA
£6.2m, and Free Cash Flow of £4.3m

 

 

For further information, please contact:

 Quartix (www.quartix.net)                          01686 806 663

 Richard Lilwall, Chief Executive Officer

 Emily Rees, Chief Financial Officer
 finnCap (Nominated Adviser and Broker)                020 7220 0500

 Matt Goode / Seamus Fricker (Corporate Finance)

 Alice Lane / Sunila de Silva (Corporate Broking)

 

 

 

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