TIDMTRAK

RNS Number : 5883M

Trakm8 Holdings PLC

23 September 2021

23 September 2021

Trakm8 Holdings plc

("Trakm8", the "Group" or the "Company")

AGM Statement & Trading Update

Trakm8 Holdings plc (AIM: TRAK), the global telematics and data insight provider, is today holding its Annual General Meeting. Executive Chairman John Watkins will make the following statement on current trading at the meeting.

"Revenues in the first five months of the current financial year commencing 1 April 2021 have been 19% more than the same period last year. Overall, connections have increased by 1% to 257,000 since the start of the year. During the period a number of new Insurance and Fleet customers were secured and several of our large customers renewed their contracts. There has been a return to a more normal Fleet attrition rate and with the increased deployment of new solutions the number of Fleet connections has increased by 3% (2,000) to 72,000. Although the return of the insurance telematics market following third Covid-19 lockdown has been weaker than the corresponding rate of return after the first Covid-19 lockdown, our combined insurance and connected car proposition has performed solidly. There has been a 1% increase (1,000) in Insurance & Automotive connections to 185,000.

Supply chain challenges have been widely reported and we have not been immune to them. To date we have managed to avoid any disruptions to our supply to customers.

The second half of the year will benefit from the growth in connections and recurring revenues in both Fleet and Insurance. Despite some additional costs associated with mitigation of supply chain challenges, the Board is confident that for the full year ending 31(st) March 2022, Revenue will be approximately GBP19m and the Group will break even on both Adjusted Profit before Tax and Profit after Tax bases in line with market expectations."

- Ends -

For further information:

 
Trakm8 Holdings plc 
John Watkins, Executive Chairman       Tel: +44 (0) 167 543 4200 
Jon Furber, Finance Director                      www.trakm8.com 
 
Arden Partners plc (Nominated Adviser  Tel: +44 (0) 20 7614 5900 
 & Broker) 
Paul Shackleton, Head of Corporate        www.arden-partners.com 
 Finance 
 

Simon Johnson, Head of Sales

About Trakm8

Trakm8 is a UK based technology leader in fleet management, insurance telematics, connected car, and optimisation. Through IP owned technology, the Group analyses data collected by 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 257,000 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, The Parts Alliance Group, Direct Line Group, LexisNexis and Ingenie.

Trakm8 has been listed on the AIM market of the London Stock Exchange since 2005.

www.trakm8.com / @Trakm8

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END

AGMEAXNAASKFEEA

(END) Dow Jones Newswires

September 23, 2021 01:59 ET (05:59 GMT)

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