Announcement
Tracsis PLC : Contract Win
RNS Number : 6675G
Tracsis PLC
28 July 2021
28 July 2021
Tracsis plc
("Tracsis" or "the Group")
Large RailHub Enterprise Software Contract Win / Updated Forecast
Tracsis, a leading provider of software, hardware, data analytics/GIS and services for the rail, traffic data and wider transport industries, is pleased to announce it has been awarded a new multi-year significant contract in the UK for its RailHub software product suite. This is one of the large rail opportunities that we highlighted in our Interim Results announcement that was in the final stages of contract award.
RailHub* is a unique digital platform developed by Tracsis subsidiary OnTrac that allows railway workers to plan and deliver safer work on the railways by providing better and more visual information. Improving safety is a key priority area for the rail industry, which has an overriding focus on eradicating fatalities on or near the railway line, reducing near misses and reducing lost time accidents in rail and construction environments.
This contract will double RailHub's user base to over 30,000 individuals, reflecting the growing momentum in UK rail's shift to digital, and underpins our confidence in the future of the RailHub product with both rail infrastructure providers and maintainers.
As a result of this large enterprise licence win, ongoing growth in Rail Technology & Services and Data Analytics/GIS and a post Covid recovery in business activity levels in our Traffic Data and Events business units, we are now expecting full year EBITDA for the Group to exceed market expectations.
Chris Barnes, Chief Executive Officer, commented:
"We are delighted to have secured this major new software contract win, which strongly aligns with the industry's ongoing investment in a digital railway as outlined in the recent 'William-Shapps Plan for Rail'. This win further cements RailHub as an industry leading piece of software and reinforces the reputation of Tracsis as a fast-to-market innovator of products and services for the rail industry ."
*More information on RailHub is available on the OnTrac website
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Enquiries:
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Tracsis plc |
Tel: 0845 125 9162 |
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Chris Barnes, CEO |
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Andy Kelly, CFO |
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finnCap Ltd |
Tel: 020 7220 0500 |
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Christopher Raggett/Charlie Beeson, Corporate Finance |
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Andrew Burdis, Corporate Broking |
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Alma PR |
Tel: 020 3405 0205 |
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David Ison/Hilary Buchanan/Joe Pederzolli |
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Notes to editors:
· Tracsis plc is a technology company and a leading provider of software and hardware products, data capture and data analytic/GIS services for the rail, traffic data and wider transport industries.
· Tracsis' products and services are widely used to increase efficiency, reduce cost and risk, improve operational and asset performance, improve safety management and decision making capabilities and improve the overall customer experience for clients and customers.
· The Group is split into two principal operating areas built around detailed industry knowledge and expertise:
- Rail Technology & Services: Software and technology/product led business. Develops remote condition monitoring hardware, data acquisition software and safety and risk management software for rail infrastructure providers. Software that solves complex resource, asset optimisation and control problems for Train Operators and Smart Ticketing, Delay Repay and other retail software to improve the customer experience for rail users.
- Data, Analytics, Consultancy & Events : A largely services led business that focuses on data capture, data analytics, GIS, data insights, consultancy and event traffic management within a range of transport and pedestrian rich environments. The business provides technology/bespoke products and data that underpins large scale intelligent transport system and smart city planning and decision making.
· Tracsis has a blue-chip client base which includes all major UK transport owning Groups. The business also works extensively with Network Rail, Train Operating Groups and Companies, the Department for Transport, TfL, multiple local authorities, major outdoor music and sporting event organisers, and a wide variety of large engineering and infrastructure companies.
· The business drives growth both organically and through acquisition and has made fifteen acquisitions since 2008.
For more information on Tracsis please visit http://www.tracsis.com
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