Transport tech firm’s full-year revenues up 37%

Tracsis’s revenues increased by 37% to £68.7 million  in the year to the end of July, the firm announced in its full-year results this moorning.

Adjusted EBITDA increased by 9% to £14.2 million, with pre-tax profits of £2.6  million after £3.1m of exceptional items. The firm currently has total cash balances of £17.2 million with no debt, following £13.5 million net investment in acquisitions, and contingent and deferred consideration.

The firm, based out of Leeds Nexus, is a leading provider of software, hardware, data analytics and services for the rail, traffic data and wider transport industries. Its first full deployment of TRACS Enterprise went live in summer 2022.

Chief executive Chris Barnes said, “We have delivered a financial performance aligned to our long term strategic growth plan, with high levels of organic and acquisitive growth. Our rail technology and services division has won several multi-year software contracts, and in data, analytics, consultancy and events we have seen a strong post-Covid recovery in activity levels.

Tracsis chief executive Chris Barnes

“We have a growing pipeline of opportunities in both divisions, and we have expanded our addressable markets including our first direct entry into the large and growing North America rail market with the acquisition of RailComm…

“The UK rail industry’s transition to a new Great British Railways structure is ongoing and the overall objective is to create a data-driven, customer-focused, safety-critical future for the industry. Digital transformation will play a significant role in the industry’s transition and our range of rail technology products and services is well placed to help the rail industry deliver operational performance improvements and efficiency savings.

“We continue to invest in implementing a more integrated operating model to help us to execute our growth strategy.”

Barnes added that first-quarter trading is in line with the Board’s expectations.

“We are confident that there are strong growth prospects for all parts of our Group and therefore remain committed to implementing our overall strategic growth and investment plans. We will continue to pursue organic and acquisitive growth supported by a strong balance sheet.”

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