TIDMTRAC
RNS Number : 0660Q
T42 IOT Tracking Solutions PLC
16 February 2023
16 February 2023
t42 IoT Tracking Solutions plc
("t42" or the "Company")
T42 year-end trading update
t42 IoT Tracking Solutions plc (AIM: TRAC) (" t42 " or the "
Company "), the provider of global shipping containers tracking
solutions, is pleased to provide the following trading update for
the year ended 31 December 2022 ("FY2022") and an update on the
Company's prospects for the current year. The Company expects to
announce its audited results for the year ended 31 December 2022 in
March 2023.
The Company expects to report total revenues for FY2022 of
approximately US$4.0 million, including approximately $2.0 million
o f SaaS income representing approximately 50% of the total
revenues for the period (2021: 51 %). This result was achieved in
spite of the global supply chain issues faced by many companies and
continuing business recovery from the Covid pandemic.
In 2022, the Company continued its expansion and is now
well-positioned for this year with numerous opportunities and
potential new key customers. It has continued its ongoing
transition into the shipping container business sector with a
number of pilot studies with potential new customers. As a result,
initial orders from clients in the USA, South America, and Israel
have been received, indicating a positive outlook for 2023.
This year started with presentations of the Company's innovative
solutions through DHL, Eseye, and other partners at key exhibitions
in Brazil and Barcelona. The growing awareness of t42's Lokies and
other products is already generating new leads and business
opportunities.
Furthermore, the Company expects to extend its presence in South
America following the deals announced last year. Although small
initial orders were received in 2022 due to local political
reasons, t42's distributor expects that the situation will improve
in the first half of this year and that more substantial orders
will begin to be received.
Following the growing demand in Africa, the Company continues to
support its Helios product line, meeting the need for product
development. This includes integration support for 2G networks and
above and tailor-designed solutions for various sectors, including
t42's tracking and securing solutions for sensitive medical store
deliveries supporting its long-term Tanzanian customers'
requirements. Elsewhere, the relationship with Zero motorcycles
continues to be very positive, and further orders are expected this
year.
The Company also announced the appointment of Openbox as a new
distributor in the USA. Whilst so far they have not performed
according to their expectations, nevertheless T42 has succeeded in
directly winning new business in the USA, as announced in January
2023. Further orders are expected to be received during the course
of 2023.
In recent months t42 has made several enhancements to its
product offering through a new business model, which has been
well-received by both existing and new potential customers. A
significant development was the Company's decision to offer
services while structuring payments for both devices and SaaS fees
on a monthly payment basis as a leasing contract. t42 has already
successfully contracted with a major USA company, adopting this
payment structure, and who has indicated its intention to place
further orders during 2023. The Company expects this structure to
attract new clients and is evaluating funding requirements to
support expansion of this new business model.
The Company is targeting significant revenue improvement in 2023
based on continued business with existing clients, including
ongoing SaaS revenues. Meanwhile, the Company is focusing on the
need to accelerate upfront cash payments to suppliers to shorten
the supply chain period and ensure delivery preference. In
parallel, the Board continues to explore acquisition opportunities
to further broaden its business base and strengthen its presence in
its key markets.
Avi Hartmann, CEO of t42, commented : "We move forward with the
new potential customers while implementing the lessons learned from
the completed pilots and existing business. Our new strategy
focusing on shipping container businesses has proven itself, with
increasing demand for our products and services. With the new
offering of lease-based contracts, the t42 Board is looking forward
to the coming year with confidence."
Contacts:
t42 IoT Tracking Solutions PLC
Michael Rosenberg, Chairman 07785 727595
Avi Hartmann, CEO +972 5477 35663
Strand Hanson Limited (Nominated Adviser and
Financial Adviser)
James Harris/ Richard Johnson/ Robert Collins 020 7409 3494
Peterhouse Capital Limited
Lucy Williams/Duncan Vasey/Eran Zucker 020 7469 0930
Yellow Jersey PR (Financial PR) 020 3004 9512
Tom Randell/Henry Wilkinson/Annabelle Wills t42@yellowjerseypr.com
Notes to Editors
t42 IoT Tracking Solutions plc (AIM: TRAC), formerly Starcom
Systems plc, provides real-time tracking, analysis, monitoring, and
security IoT solutions for the global container and freight market
and covers 55 countries, over 100 distributors, and 50 logistics
and support partners.
t42's multi-sensor IoT tracking devices use a wide range of
detection capabilities with cloud-based analytics and alerts, with
real-time data transmission, analysis, and actionable insights. Its
devices are used by ports, cargo owners, shipping companies,
freight forwarders, insurance companies, customs authorities,
homeland security, and police for end-to-end global container
tracking and digital transformation of shipments.
For more information on the Company, please visit:
www.t42.co.uk/ .
The information contained within this announcement is deemed by
the Company to constitute inside information pursuant to Article 7
of EU Regulation 596/2014 as it forms part of UK domestic law by
virtue of the European Union (Withdrawal) Act 2018 as amended.
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END
UPDSFWFWIEDSEDE
(END) Dow Jones Newswires
February 16, 2023 02:00 ET (07:00 GMT)
Grafico Azioni t42 IoT Tracking Solutions (AQSE:TRAC.GB)
Storico
Da Ott 2024 a Ott 2024
Grafico Azioni t42 IoT Tracking Solutions (AQSE:TRAC.GB)
Storico
Da Ott 2023 a Ott 2024
