Trading Update

Wins significant early commitment for accesso Horizonsm with multi-year project in Saudi Arabia

accesso Technology Group plc (AIM: ACSO), the premier technology solutions provider for leisure, entertainment, and cultural markets, today provides the following trading update ahead of its full year results announcement in April.

For the full year, the Group expects to achieve Cash EBITDA in line with its expectations at a margin of not less than 15% despite an elevated level of investment in next generation products. The Group also expects to deliver $148.5m of revenue or 6% year-on-year growth driven by its organic initiatives and initial contributions from the acquisitions of VGS, Paradocs and Digisoft. This robust performance comes as the Group continues to focus on growing its higher margin revenue streams while proactively stepping back from lower margin elements of its revenue base. For example, during the second half, the Group fully transitioned out of lower-margin operational staffing and the related revenue associated with accesso LoQueuesm operations for a key customer, as referenced in its interim results.

The Group is also very pleased to report positive early results from its most recent acquisitions. accesso HorizonSM, its newly acquired ticketing platform (formerly VGS), has already delivered a multi-year project win to install and support a signature entertainment destination in Saudi Arabia. This takes the Group into a new region and a market with significant growth potential, reinforcing the rationale for the Group's global expansion efforts and demonstrating the growing demand for its innovative and distinct technology offerings.

accesso Paradox (formerly Paradocs), is also gaining momentum, with 7 new ski venues signed since acquisition, and following the official November launch of accesso Freedom, the Group's new restaurant and retail platform, responses have been highly positive. This new product has now secured 3 new customers and is building an increasingly strong pipeline of interest.

Looking ahead to 2024, the Group expects revenue growth of approximately 9% while it continues to expand its global customer base, fully leverage its recent acquisitions and onboard customers for the new accesso Freedom offering. The Group also expects to see improvement in Cash EBITDA margins to not less than 17%.

The Group remains committed to its medium-term Cash EBITDA margin target of at least 20%.

The Group will provide full details of 2023 performance and expand on its view of its 2024 outlook at the time of its results in April.

596/2014 ("MAR").