Business
2023 Final Results
2023 Final Results.
About this update from T42 Iot Tracking Solutions Plc
[{"type":"text","content":"\n\n \n26 June 2024\nt42 IoT Tracking Solutions plc\n(\"t42\" or the \"Company\")\nFull year results\nt42 IoT Tracking Solutions plc (AIM: TRAC) (\"t42\" or the \"Company\"), the provider of global shipping containers tracking solutions, is pleased to announce its audited results for the 12 months ended 31 December 2023.\nFinancials Highlights\n· Revenues $4.01m (2022: $4.04m), with greater contribution from the supply chain solution products rather than vehicle tracking solutions.\n \n· Adjusted EBITDA gain of $341,000 (2022: EBITDA loss of $812,000).\n· Gross margin for the period was 53% (2022: 42%).\n· General expenses decreased to $1.3m (H1 2022: $1.5m).\nPost-period Highlights\n· 4 major long term commercial agreements, representing total potential orders of up to 100,000 units, the majority of which are from customers in LATAM, which, subject to full delivery and deployment within the contract timeframes, would contribute c. $20m hardware and SaaS revenue over 3 years. \n· Continued implementation of the new strategy focusing on the supply chain markets, based on SaaS model\n \nAvi Hartmann, CEO of t42, commented:\n\"We offer a comprehensive, cutting edge, technological solution for monitoring and securing containers, effectively addressing a critical challenge in maritime, land transportation and air cargo. Our solution guarantees reliability, security, and economic feasibility while significantly reducing implementation time and accelerating return on investment for our customers. We are actively pursuing business opportunities in key markets such as South and North America, evident from recent agreements signed and the substantial business potential they represent.\"\nContacts:\n \n\n\n\n\nt42 IoT Tracking Solutions PLC\nMichael Rosenberg, Chairman\nAvi Hartmann, CEO\n \n\n\n \n07785 727595\n+972 5477 35663\n\n\n\n\nStrand Hanson Limited (Nominated Adviser and Financial Adviser)\nJames Harris/ Richard Johnson/ Robert Collins\n\n\n020 7409 3494\n\n\n\n\nPeterhouse Capital Limited\nLucy Williams/Charles Goodfellow/Eran Zucker\n \n\n\n020 7469 0930\n\n\n\n\n The Annual Report will be made available to shareholders shortly and be available from the Company'...