Accesso Technology Group PLC (AIM:ACSO, OTC:LOQPF) has revised its full-year revenue guidance to between $150 million and $153 million, down from the $160 million forecasted in April.
This adjustment comes in response to delays in specific new park openings and lower-than-expected consumer trading volumes during the peak summer months.
accesso is managing its cost base to mitigate the impact on cash flows. The group is aiming for a cash EBITDA margin of 13-14% for the year.
Two primary factors contributed to the revised revenue guidance: delays in the timeline for the accesso Horizon projects in the Middle East and weaker-than-expected consumer trading volumes across key markets, particularly in July.
Despite these challenges, accesso Technology Group remains confident in its long-term prospects.
The company's sales pipeline continues to show positive momentum, which is expected to benefit future years.
As of 31 July, the group's balance sheet remains strong, with a net cash position of $23.3 million.
The company will release its interim results on 26 September 2024, which will reflect the impact of the delayed projects.