accesso CEO unveils massive 2023 wins and plans for more growth
London, UK
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April 18, 2024 08:35 AM Eastern Daylight Time
Accesso Technology Group PLC (AIM:ACSO, OTC:LOQPF) chief executive Steve Brown discussed the company's strong 2023 performance with Proactive's Stephen Gunnion.
The year was marked by significant achievements including surpassing profitability targets and attaining nearly $150 million in revenue. Key developments included three strategic acquisitions aimed at expanding the company’s global footprint. These acquisitions introduced new opportunities with companies like VGS in Milan and Paradocs in Canada, enhancing Accesso's market presence.
In 2023, accesso secured 28 new venues and expanded its services to 273 additional venues through these acquisitions, which also incorporated 50 ski resorts in Canada, making it the largest provider of ski technology in North America. The company's growth drivers included increased sales penetration and transaction counts across existing venues.
Looking ahead, Brown highlighted accesso's focus on improving profit margins by enhancing revenue efficiency and scrutinising low-margin revenue streams. Furthermore, the company has recently made a significant entry into the Saudi Arabian market through a partnership, building on the acquisition of VGS, which has been rebranded as Accesso Horizon.
Brown also discussed the launch of 'Freedom', a new platform for restaurant and retail operations, which has already seen considerable uptake.
For 2024, Brown mentioned the possibility of more acquisitions, supported by a strong balance sheet and cash position. The company forecasts revenues of around $160 million with a cash EBITDA margin of 17%, anticipating another robust year.
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