TIDMTRAK
RNS Number : 2611J
Trakm8 Holdings PLC
26 April 2022
26 April 2022
Trakm8 Holdings plc
("Trakm8", the "Group" or the "Company")
Trading Update
Trakm8 Holdings plc (AIM: TRAK), the global telematics and data
insight provider, today announces a trading update for its
financial year ended 31 March 2022.
Revenues for the full year ended 31 March 2022 were GBP18.2m,
which is 14% more than the prior financial year. Revenues from
Fleet customers amounted to GBP11.3m, 19% more than last year. In a
year that started in lockdown and when driving tests and
availability of second hand cars were negatively impacted by
Covid-19, revenues from Insurance customers amounted to GBP6.9m, 7%
more than last year as a result of a strong fourth quarter for new
policy sales and new customer launches.
The Group expects to achieve an adjusted profit before tax for
the financial year in line with previous guidance of circa GBP7k
(FY-2021: Adjusted loss of GBP0.3m) and a profit after tax of
GBP0.2m (FY-2021: Loss after tax of GBP1.2m)
Cash generation from operating activities at GBP3.6m, has been
as expected and at 31 March 2022 the Group net debt was GBP5.4m
(GBP7.0m after IFRS 16 changes), which is GBP0.5m higher than as at
31 March 2021 and a GBP0.8m reduction since 30 Sept 2021. At the
year end, the Group had GBP1.0m of cash on hand and a further
GBP0.5m of available funds under an overdraft facility. During the
financial year, the Group reduced the long term liability to HMRC
by GBP0.9m to GBP0.9m in line with an agreement reached last
year.
During the year, connections increased by 4% to 264,000
(FY-2021: 254,000). Fleet connections increased by 1% to 71,000
(FY-2021: 70,000), Insurance & Automotive connections increased
by 5% to 193,000 (FY-2021: 184,000). The resulting recurring
revenues in the year increased by 5% to GBP9.8m, representing 54%
of Group revenues.
Software revenues increased by 149% to GBP1.3m, representing 7%
of Group revenues.
The Group has had to deal with a number of significant supply
chain challenges but, with the benefit of our fully integrated
business model, has successfully avoided any meaningful
interruptions to customer deliveries during the period. There has
however been an impact on the Group's costs and we estimate this
amounted to GBP0.2m during the financial year.
We were pleased to advise during the year that several major
contract awards, extensions and renewals were secured.
Further new products and solutions were introduced to the market
that will continue to improve the costs and functionality of the
solutions we sell.
Outlook
A major challenge for Trakm8 post Covid-19 and now the war in
Ukraine will be the security of component supply where it faces
challenges weekly of varying significance. However, the Group
continues to take steps to minimise these risks.
There are a number of Fleet deployment contract renewals during
2022 which are important to the outcome for the year and the timing
of which will lead to Group revenue being second half weighted.
Growth in Insurance policy sales will be dependent on the level of
activity from the new customers which have been announced,
alongside a return to more normal sales at existing customers.
Like many businesses, Trakm8 is currently experiencing
significant salary and component inflationary pressures. Whilst it
is unlikely that the Group will be able to mitigate all of these
cost increases, it is taking what steps it can to achieve this.
The Board looks forward to providing an update on Trakm8's
trading performance in the current financial year at the time of
publication of the Group's results for the year ended 31 March
2022.
- Ends -
For further information:
Trakm8 Holdings plc
John Watkins, Executive Chairman Tel: +44 (0) 167 543 4200
Jon Edwards, CFO www.trakm8.com
Arden Partners plc (Nominated Adviser Tel: +44 (0) 20 7614 5900
& Broker)
Paul Shackleton, Corporate Finance www.arden-partners.com
Simon Johnson, Corporate Broking
About Trakm8
Trakm8 is a UK based technology leader in fleet management,
insurance telematics, connected car, and optimisation. Through IP
owned technology, the Group uses AI data analytics collected from
its installed base of telematics units to fine tune the algorithms
that are used to produce its' solutions; these monitor driver
behaviour, identify crash events and monitor vehicle health to
provide actionable insights to continuously improve the security
and operational efficiency of both company fleets and private
drivers.
The Group's product portfolio includes the latest data analytics
and reporting portal (Trakm8 Insight), integrated
telematics/cameras/optimisation, self-installed telematics units
and one of the widest ranges of installed telematics devices.
Trakm8 has over 264,000 connections.
Headquartered in Coleshill near Birmingham alongside its
manufacturing facility, the Group supplies to the Fleet,
Optimisation, Insurance and Automotive sectors to many well-known
customers in the UK and internationally including the AA, Saint
Gobain, EON, Iceland Foods, GSF, Direct Line Group, Ticker and
Ingenie.
Trakm8 has been listed on the AIM market of the London Stock
Exchange since 2005. Trakm8 is also recognised with the LSE Green
Economy Mark.
www.trakm8.com / @Trakm8
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTSESFIIEESELL
(END) Dow Jones Newswires
April 26, 2022 02:00 ET (06:00 GMT)
Trakm8 (LSE:TRAK)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Trakm8 (LSE:TRAK)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024