Trakm8 Holdings PLC Trading Update (9117O)
04 Febbraio 2019 - 8:00AM
UK Regulatory
TIDMTRAK
RNS Number : 9117O
Trakm8 Holdings PLC
04 February 2019
04 February 2019
Trakm8 Holdings plc
('Trakm8', the 'Group' or the 'Company')
Trading Update
Reduced cost base and strategic partnerships drive long-term
financial growth
Trakm8, a leading telematics and data supplier to global
markets, confirms that for the third quarter of the financial year
ending 31(st) March 2019, the Group has grown orders in challenging
markets and implemented a rigorous cost saving programme.
During the quarter, Trakm8 saw a marked improvement in order
volumes, which were 10% greater than the run rate of the first
half, and shipments restarted to the Group's major automotive
customer. As Trakm8 moves into the final quarter of FY2019 the
Board expects to improve the trend of growing new orders and in
turn shipments. During January orders amounting to circa 30,000
units were received from a wide range of new and existing
customers.
The revamped Fleet sales team has delivered a strong start to
the final quarter with a number of contract wins already secured,
however certain Fleet order opportunities continue to be delayed,
rather than lost, because of the ongoing Brexit uncertainty. The
Directors anticipate that while full year revenues will now be 25%
to 35% below last year, the second half will be profitable, and,
provided the mix of revenue is as expected, the loss for the year
will remain as previously anticipated.
The long-term pipeline of opportunities has also been enhanced
by its strategic partnership with Microlise Group Holdings Limited
("Microlise") in December 2018. Following the investment into the
Company by Microlise, Trakm8 and Microlise are evaluating several
work streams to maximise the potential of working together more
closely, whilst at the same time maintaining both companies' full
independence. Whilst it may take some time to deliver substantial
positive results from this activity, Trakm8 is optimistic of the
long-term benefits that this partnership will bring to both parties
in the future.
Another near-term strategic priority for Trakm8 has been to
continue to reduce operating costs. During the last quarter the
Group has implemented approximately GBP2 million of annualised
savings. The bulk of these savings will be fully effective for the
start of the new financial year commencing 1(st) April 2019. The
Board is confident that this significantly reduced cost base and
the increased revenue run rate will result in a measurable
improvement in performance for financial year ending 31(st) March
2020.
- 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 / Alex Penney - Corporate www.arden-partners.com
Finance
Simon Johnson - Corporate Broking
Media enquiries:
Buchanan
Victoria Hayns / Tilly Abraham Tel: +44 (0) 20 7466 5000
Trakm8@buchanan.uk.com www.buchanan.uk.com
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 and
reporting portal (Trakm8 Insight), integrated telematics/cameras,
self-installed telematics units and one of the widest ranges of
installed telematics devices. Trakm8 has over 250,000
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, Direct Line Group and Young
Marmalade.
Trakm8 has been listed on the AIM market of the London Stock
Exchange since 2005.
www.trakm8.com / @Trakm8
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END
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