Year-on-year revenue increase of 24% in Q3 2010 – best quarterly results since onset of global economic crisis in Q3 2008
- Q3 2010 revenues of €9.7 million, surpassing expectations
- Year-on-year revenue increase of 24%
- Sequential revenue increase over Q2 2010 of 11%
- Double-digit growth in both core and development markets
- New extensions to product offering introduced in Q3
Transics shipped 2,350 on-board computers in Q3 2010 and generated revenues of €9.7 million during the period. This represents a 24% increase in turnover compared to the same period in 2009.
Transics’ growth strategy based on developing our presence outside the Benelux and France (“Core Markets”) is showing results as Development Markets of Southern and Eastern Europe as well as Scandinavia account for 27.5% of Q3 2010 sales, up from 18.8% for the same period in 2009. In our Core Markets, turnover grew by 10% year-on-year to reach €7.0 million and, in our Development Markets, revenues grew by 82% to reach €2.7 million.
Our strong performance in Q3 2010 reflects significant new customer wins as well as the resurgence of our activity with existing clients who begin upgrade cycles and start investing again.
The most significant new customer win this quarter was Arcese, Italy’s largest independent carrier with 1500 trucks, who will be equipping 600 of his trucks with Transics’ fleet management solution this quarter. Other new customers acquired during the quarter include Mahlstedt Spedition in Germany (54 units), Dansk Tanktransport Dantra A/S in Denmark (75 units), Fayolle Lécué and Holding Cassier SA in France (130 units and 179 units). In the Benelux, existing customers Charlier N. S.A. (50 units, BE) and Cornelissen Transport BV (45 units, NL) chose to renew their fleet with Transics units. Further replacement sales include Altrans Alsace Lorraine Transport (40 units, FR), Batim Transport Miedzynarodowy (50 units, PL) and Mat Sp.z.o.o. (47 units, PL). Mauffrey, a French transport company with 1.100 trucks already equipped with Transics’ Quattro Plus on-board computers, also decided to upgrade its fleet and ordered 100 TX-MAX on-board computers this quarter.
Further extension to product offering
During Q3 2010, Transics introduced two new products: TX-MAGELLAN+ and TX-SMART.
TX-MAGELLAN+, is a trailer tracking solution. The product has been developed to assist carriers in locating and monitoring in real time the activity of trailers pulled by own vehicles as well as those pulled by independent subcontractors. This solution enables our transport and logistics customers to optimise fleet planning and maximise trailer usage, thereby ultimately reducing the number of trailers required and improving productivity. The product also enables transport companies to monitor the activity of their subcontractors transparently.
TX-SMART is a mobile web application for smartphones enabling drivers of subcontractors to easily and quickly exchange text messages, truck positions and planning information with the carriers’ dispatchers. This smart solution fills the gap between large transport companies and their occasional subcontractors offering them greater flexibility and transparency in their supply chain.
Both applications will generate additional recurring revenue for Transics.
Outlook for the remainder of 2010
Management is confident to exceed previously announced 2010 expectations. Forecasts for fiscal year 2010 indicate revenues in excess of €39 million.
Transics International NV, established in 1991, develops and commercialises high-end fleet management solutions for the transport and logistics sector. Thanks to many years of experience, thorough R&D efforts and an intensive focus on the customer experience, Transics has become the leading European player in its sector. In addition to its headquarters in Ypres (Belgium), Transics is active throughout Europe. The company has been quoted on the stock exchange (Euronext Brussels) since June 2007.