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Accesso Technology reports strong earnings growth in first half as it continues eCommerce and ticketing technology rollout

The electronic ticketing and queuing technology firm reported an adjusted EBITDA of US$15.1mln, up 73.6% on the previous year, while revenues climbed 16.7% to US$54.4mln

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Accesso's technology is being rolled out across theme parks run by FTSE 250 group Merlin

Accesso Technology Group PLC (LON:ACSO) has reported strong growth in its underlying earnings (EBITDA) for the first half of the year as it continued the rollout of its ticketing and eCommerce technology internationally.

The AIM-listed electronic ticketing and queuing technology firm reported an adjusted EBITDA of US$15.1mln for the period, up 73.6% on the previous year, while its revenues climbed 16.7% to US$54.4mln.

READ: accesso Technology Group’s Prism product could shake up the UK festival market

The firm also ended the period with a net debt of US$11.6mln, down from US$23.8mln in the same period last year.

In its outlook, the firm reiterated its confidence in the expectations for the full year, adding that it was nearing the completion of rolling out its ticketing and eCommerce technology across attractions and theme parks owned by FTSE 250 leisure group Merlin Entertainments PLC (LON:MERL), with the rollout expected to finish this autumn.

Accesso also said that post-period end it had signed a contract with the Perfect North Ski resort in Lawrenceburg, Indiana for its accesso Passport and accesso Siriusware technologies.

The firm’s accesso Prism ride-booking software was also scheduled to replace its Qbot devices at four additional Six Flags theme parks following a successful trial at Six Flags Over Georgia.

Paul Noland, chief executive of Accesso, said the firm had taken “meaningful steps” to enhance the capacity of its ticketing business, which he said was a “central driver” of company growth.

The results are Noland’s first in the role after he joined the company board in February.

Quick facts: Accesso Technology Group PLC

Price: 550 GBX

LSE:ACSO
Market: LSE
Market Cap: £226.68 m
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