Tracsis, Leeds transport data firm, wins big contract

Shares of Leeds-based transport data analytics firm Tracsis plc rose about 4% on Wednesday as it announced it was awarded a new “multi-year significant contract” in the UK for its RailHub software product suite.

Tracsis said it now expects its full year EBITDA to exceed market expectations.

Tracsis shares have risen about 70% over the past 12 months to give the firm a stock market value of around £280 million.

“This is one of the large rail opportunities that we highlighted in our interim results announcement that was in the final stages of contract award,” said Tracsis.

RailHub is a unique digital platform developed by Tracsis subsidiary OnTrac that allows railway workers to plan and deliver safer work on the railways by providing better and more visual information.

“Improving safety is a key priority area for the rail industry, which has an overriding focus on eradicating fatalities on or near the railway line, reducing near misses and reducing lost time accidents in rail and construction environments.

This contract will double RailHub’s user base to over 30,000 individuals, reflecting the growing momentum in UK rail’s shift to digital, and underpins our confidence in the future of the RailHub product with both rail infrastructure providers and maintainers.

As a result of this large enterprise licence win, ongoing growth in Rail Technology & Services and Data Analytics/GIS and a post Covid recovery in business activity levels in our Traffic Data and Events business units, we are now expecting full year EBITDA for the group to exceed market expectations.”

Tracsis CEO Chris Barnes said: “We are delighted to have secured this major new software contract win, which strongly aligns with the industry’s ongoing investment in a digital railway as outlined in the recent ‘William-Shapps Plan for Rail’.

“This win further cements RailHub as an industry leading piece of software and reinforces the reputation of Tracsis as a fast-to-market innovator of products and services for the rail industry.”