Trading Update and Completion of Acquisition

Tracsis PLC

24 August 2026

 

24 August 2026

Tracsis plc

("Tracsis" or "the Group")

Trading Update, Completion of Acquisition and Notice of Results

FY26 performance in line with expectations; acquisition of Mistral Data completed

Tracsis (LSE: TRCS), a leading transport technology provider, is pleased to provide a trading update for the year ended 31 July 2026 and confirm completion of its acquisition of Mistral Data Limited ("Mistral Data").

FY26 financial performance in line with market expectations ¹

Group revenue is expected to be c.£85.5m (2025: £81.9m), with adjusted EBITDA* expected to be c.£13.5m (2025: £12.6m). In both cases, this includes the full-year contribution from the Events business that was sold on 31 July 2026, as previously announced.

Year-end cash stood at £19.4m (2025: £23.4m). This excludes the cash proceeds from the sale of the Events business, that were received on 3 August 2026.

Completion of the acquisition of Mistral Data

On 29 July 2026 the Group announced the proposed acquisition of Mistral Data, subject to receipt of clearance from the UK Competition and Markets Authority and certain other customary conditions. These conditions have now been satisfied and the Group is pleased to announce the completion of the acquisition.

The £48m consideration has been satisfied from the Group's existing cash resources and drawings of £38.7m from its £40m revolving credit facility. The Group's pro forma net debt to EBITDA ² on completion is expected to be c.1.5x.

Investor presentation: Tracsis and Mistral Data: A stronger platform for growth

David Frost, CEO, and Andy Kelly, CFO, will host a virtual investor presentation on Wednesday 16 September at 11:00am BST, providing an overview of the Mistral Data acquisition and what this means for the enlarged group, followed by Q&A.

The presentation will cover what Mistral Data does, how its products complement Tracsis's existing capabilities, the development of the business, the opportunity in the UK rail software market, and how the acquisition supports and accelerates Tracsis's growth transformation strategy.

Investors can register to attend here: https://engageinvestor.news/TRCS_IP_0926

David Frost, Chief Executive Officer of Tracsis, commented:

"The Group has delivered full-year performance in line with market expectations and ahead of FY25. I would like to thank the whole Tracsis team for their hard work in achieving this. I am pleased with how we have continued to successfully balance disciplined near-term delivery with progress against our strategy to deliver long-term, higher-margin growth.

The acquisition of Mistral Data represents an important milestone in this journey. It brings complementary product capabilities, modern cloud-native technology and increased recurring revenues, while further strengthening our leadership position in the UK rail software market.

Alongside this, the acquisition of Vesputi, the disposal of our Events business and the completion of the 'One Tracsis' groupwide operating model transition have further accelerated our evolution into a more focused software and data technology business.

Looking ahead, Tracsis is better positioned than ever, with a portfolio aligned to attractive long-term growth markets, a higher proportion of recurring revenue and an increasing emphasis on scalable software products.

With a simplified operating model, enhanced capabilities and a clear strategic focus, we are well placed to benefit from sustained investment in rail technology driven by the industry's need for greater efficiency, productivity, safety and customer experience. Our priority is now to integrate Mistral Data successfully and capitalise on the significant opportunities ahead."

Notice of Results

Results for the year ended 31 July 2026 will be announced on Thursday 19 November 2026.

¹ The Group is aware of four analysts publishing independent research. The Group-compiled consensus of analyst expectations for the year ended 31 July 2026, including the full-year contribution from the Events business, is for a mean adjusted EBITDA* of £13.5m, with a range of £13.2m to £13.9m.

² Pro forma net debt excluding IFRS 16 lease liabilities versus expected Tracsis plc FY26 adjusted EBITDA* excluding Tracsis Events Limited plus Mistral Data adjusted EBITDA* for the 12 months ended 31 March 2026.

*Adjusted EBITDA is defined as earnings before net finance income or expense, tax, depreciation, amortisation, exceptional items, other operating income, and share-based payment charges.

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014 as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

Enquiries:

Tracsis plc David Frost, CEO Andy Kelly, CFO	[phone]
Berenberg (Nominated Adviser, Corporate Broker & Financial Adviser) Mark Whitmore / James Thompson / Ryan Mahnke	[phone]
Alma Strategic Communications David Ison / Rebecca Sanders-Hewett / Joe Pederzolli / Will Merison	[phone] [e-mail]

Notes to editors: 

·      Tracsis plc is a technology company and a leading provider of software and hardware products, data capture and data analytics/GIS services for the rail, traffic data and wider transport industries.

·      Tracsis's 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 end-user experience for clients and customers. 

·      The Group is split into two principal operating areas built around detailed industry knowledge and expertise:

-      Rail Technology & Services:  A software, technology and product-led business. It develops and supplies 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. It also develops remote condition monitoring hardware, data acquisition software, and safety and risk management software for rail infrastructure providers.

-      Data, Analytics & Consultancy: A largely services-led business that focuses on data capture, data analytics, GIS, earth observation, data insights and consultancy within a range of transport and pedestrian-rich environments. The business provides technology and bespoke products and data that underpin large-scale intelligent transport systems, smart city planning and positive environmental decision-making.

·      Tracsis has a blue-chip client base which includes major UK transport owning groups, Network Rail, Passenger and Freight Train Operating Companies, the Department for Transport, TfL, multiple local authorities, and a wide variety of large engineering and infrastructure companies. In North America our clients include Class I rail freight companies, transit operators, shortline railroads and several large rail-served ports and industrials.

·      The business drives growth both organically and through acquisition and has made nineteen acquisitions since 2008.

For more information on Tracsis please visit http://www.tracsis.com

 

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