Accesso Technology Group PLC Trading update (6223Z)

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RNS Number : 6223Z

Accesso Technology Group PLC

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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