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    TRAK   GB00B0P1RP10

TRAKM8 HOLDINGS PLC

(TRAK)
  Report
Delayed Quote. Delayed London Stock Exchange - 01/28 03:00:00 am
22.5 GBX   --.--%
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Trakm8 : Interim Presentation 2022

12/03/2021 | 06:12am EST

FY 2022 Half Year Results

November 2021

John Watkins CEO & Jon Edwards CFO

Overview

  • Return to profitability
    • 23% Growth in Revenue
      • Insurance and Automotive up £0.4m
      • Fleet and Optimisation up £1.3m
      • Connected devices increased in period by 1,000
    • 241% increase in Adjusted Profit/Loss before tax / 106% increase in Profit/Loss before tax
      • Improved gross margins due to higher proportion of software revenues
      • Increase in costs following reduction in furloughed team members and higher levels of marketing activity
  • Net Debt increased since year end at £6.2m, £0.5m unutilised RCF and £0.9m cash in bank at period end
    • HMRC Time to Pay met in full reducing liability by £0.94m
    • Capital repayments resumed
  • Outlook
    • Full year revenues to be circa £18m despite challenges around completion of driving tests continuing to affect Insurance revenues
    • Group expects to return profit measures slightly ahead than previous expectations despite this

2

Financial Statement

Income Statement

6 Months to 30

6 Months to

£000's

Sept 2021 30 Sept 2020

FY-2021

Unaudited

Unaudited

Audited

Revenue

9,021

7,321

15,961

of which, Recurring Revenues

4,806

4,635

9,379

Gross Profit

5,844

4,517

9,318

Gross Profit Margin

64.8%

61.7%

58.4%

Administrative Expenses*

(5,262)

(4,711)

(9,585)

Adjusted Profit/(Loss) before

Tax*

444

(314)

(342)

Profit/(Loss) before Tax

47

(845)

(1,867)

Profit/(Loss) after Tax

273

(732)

(1,237)

Adjusted basic EPS* (p)

0.81

(0.56)

0.07

  • Adjusted for exceptional costs and share based payments

H1-2021 Results

  • Revenues up 23%
    • Recurring revenues up 4%
  • Increased overheads:
    • £0.38m increase in costs due to lower levels of furloughed staff
    • Marketing spend up £0.15m
    • Depreciation & Amortisation £0.16m up
    • Underlying costs continue to reduce
  • Reconciliation to statutory PBT
    • Exceptional costs £0.3m (30% down on prior year)

Share based payments £0.1m

3

Financial

Revenue Bridge

Connections

Revenue by Sector

185,000

5,354

5,435

5,712

173,000163,000183,000

4,419

77,000

70,000

3,484

3,432

3,309

2,902

77,000

70,000

Fleet & Optimisation

Insurance & Automotive

Fleet & Optimisation

Insurance & Automotive

H1-2018

H1-2019

H1-2020

H1-2021

H1-2018

H1-2019

H1-2020

H1-2021

Fleet Telematics connections static at 70,000

Fleet & Optimisation revenue includes hardware,

installation, service, consulting and Optimisation license

Insurance & Automotive connections up 1,000 (0.5%)

fees- up 29%

since FY2021 & 2,000 (1.1%) since H1 2020

Insurance & Automotive revenue includes hardware,

installation, consulting and service fees - up 14%

4

Financial

Adjusted Loss before Tax Bridge

-

1,327

380

150

-

-

-

224

102

161

444

(314)

H1

Gross

Furlough

Marketing

Depn &

Other

Grant income

H1

2020

Margin

Reduction

Spend

Amortisation

Overheads

and Interest

2021

Increase

Adjusted Profit/Loss increased by 241%

Additional cost of staff as furlough reduced compared to prior period

Increased marketing spend of £150K to generate more leads

Other overheads includes payroll saving of circa £0.16m

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Trakm8 Holdings plc published this content on 03 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 December 2021 11:11:11 UTC.


ę Publicnow 2021
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Financials
Sales 2022 19,0 M 25,5 M 25,5 M
Net income 2022 - - -
Net Debt 2022 6,00 M 8,04 M 8,04 M
P/E ratio 2022 -
Yield 2022 -
Capitalization 11,2 M 15,1 M 15,1 M
EV / Sales 2022 0,91x
EV / Sales 2023 0,66x
Nbr of Employees 183
Free-Float 17,6%
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Technical analysis trends TRAKM8 HOLDINGS PLC
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 1
Last Close Price 22,50 GBX
Average target price 56,00 GBX
Spread / Average Target 149%
Managers and Directors
Jonathan Edwards Group Financial Controller
John Ferris Watkins Executive Chairman
Mark Richard Watkins Chief Operating Officer & Executive Director
Penny Susan Searles Independent Non-Executive Director
Timothy Adam Cowley Director & Strategy Director
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