Accesso Technology ready for new age in theme parks
Last updated: 09:45 04 Feb 2024 GMT, First published: 11:51 05 Mar 2021 GMT
Snapshot
- Accesso gears up for strong 2024 - ICYMI
- accesso offers masterclass in the small-cap takeover
- Accesso Technology has appeal in structurally growing market, says broker
- Accesso gears up for strong 2024 after meeting 2023 financial targets
About the company
Accesso Technology Group PLC has active subsidiary companies in several countries including the USA and Canada and generates its revenue from ticketing, mobile and eCommerce technologies and virtual queuing solutions for the leisure, entertainment and cultural markets.
The company's patented and award-winning technology solutions drive increased revenue for attraction operators whilst improving the guest experience.
How it is doing
Accesso Technology Group PLC (AIM:ACSO, OTC:LOQPF) chief executive Steve Brown spoke to Proactive's Stephen Gunnion after the provider of queuing technology in the leisure, entertainment and cultural sectors issued an upbeat 2023 trading update.
Accesso told investors revenues grew by 6% last year to US$148.5 million with cash EBITDA in line with expectations at a margin of not less than 15%.
Brown said the company delivered on its promises, meeting profit expectations and achieving significant milestones, including the completion of three strategic acquisitions.
Stephen Gunnion (SG): It looks like 2023 was another year of positive results for accesso.
Accesso Technology Group PLC (AIM:ACSO, OTC:LOQPF), a provider of queuing technology in the leisure, entertainment and cultural sectors, said it met its financial targets for last year - even after investing in new products and transitioning away from lower margin business.
Investors were told revenues grew by 6% last year to US$148.5 million with cash EBITDA in line with expectations at a margin of not less than 15%.
Accesso Technology Group PLC (AIM:ACSO, OTC:LOQPF) said first-half results were in line with expectations as three acquisitions were bedded-in that it anticipates will “kickstart [the] strategic evolution” and pave the way for future growth.
Revenue for the leisure sector technology provider came to US$65.8 million in the first six months of the year, an increase of 3.2% from a year ago as visitor demand stabilised after the pandemic rebound.
Insight: accesso offers masterclass in the small-cap takeover
Did theme park ticketing technology provider accesso Technology Group plc just execute one of the savviest acquisitions of the year by an AIM-listed small cap?
The deal in question pertains to accesso’s US$38.5 million acquisition of VGS, a similar type of company that nonetheless brings a lot to the table.
What the brokers say
Accesso Technology Group PLC (AIM:ACSO, OTC:LOQPF) has drifted lower since its interims in September where it flagged trading was normalising after theme park attendances rebounded post-pandemic, notes Shore Capital.
A trading update from the digital ticketing and virtual queue specialist is due before the end of the month.
ShoreCap expects this to show revenue accelerated in the second half of the year with overall year-on-year growth forecast at 8% to take the total to US$151 million.
What management says
Accesso Technology Group PLC (AIM:ACSO, OTC:LOQPF) CEO Steve Brown spoke to Proactive's Stephen Gunnion after the provider of queuing technology in the leisure, entertainment and cultural sectors issued an upbeat 2023 trading update.
Acesso told investors revenues grew by 6% last year to US$148.5 million with cash EBITDA in line with expectations at a margin of not less than 15%.
Brown said the company delivered on its promises, meeting profit expectations and achieving significant milestones, including the completion of three strategic acquisitions.