The huge Trump corporate tax cuts now passed in the USA will have a big beneficial effect for ACSO.
ACSO currently provide for US taxes at 40%, which will presumably now reduce to 21%. The overseas tax charge for 2016 was $1.43m (I'd assume mostly US tax), so it's likely that ACSO will benefit by say some $600,000 per annum, and obviously more as time goes on as profits will have risen sharply in 2017 and thereon.
"Princess Cruises is the first of Carnivals 11 brands to embrace the Ocean Medallion, a 1.8-ounce device that interacts with the ship, allowing passengers to interact with food and beverage, retail, entertainment, lodging, recreation, and excursions seamlessly without ever taking it out of their pocket, off their necklace, or swiping a band. (The Medallion can be tossed in a pocket or purse, or worn in a variety of cases, like a necklace or band).
Padgett said the wearable leverages a first-of-its-kind experience platform, embedded with NFC, BLE, and other telemetry-producing sensors in the context of a smart ship with an orchestrated multi-sensor experience ecosystem.
The Ocean Medallion the most extensive experiential Internet of Things thats ever been done, Padgett said. Beyond the ability to open and lock doors, order drinks, make dining or entertainment reservations, or purchase excursions, the Ocean Medallion ecosystem embraces artificial intelligence that tracks and learns about the guest with every interaction. Padgett said this AI evolves in real-time, multiple times per second, to offer suggestions for guests based on where they are on the ship, time of day, and what activities are occurring at that time.
This technology disappears into the experience, Padgett explained. Wearables came about because its about how to make things connected to the world become less invasive to your life. Any technology can do anything, but the real question is how do you employ technology to create an experience thats immersive and not distractive.
The Ocean Medallion gives guests the option of connecting to other Carnival technologies, including Ocean Ready (to answer health questions, scan passports, and go paper free), Play Ocean (a suite of mobile video games that can be played on or off the ship), and Ocean Compass (a schedule of on-board activities as well as a custom virtual sea avatar that appears across the ship).
The way we use the mobile phone is as a guest option, Padgett said. The guest can choose how much digital exposure they want, from zero to 100. If you reject the mobile phone from the Ocean Medallion experience, youre at no experiential disadvantage from other guests.
The Regal Princess is the first of multiple Princess ships that will launch over the coming years featuring this technology. And Padgett said the hope is that additional Carnival brands like Carnival Cruise Line, Holland America Line, and Cunard adopt this technology in the future."
"accesso received two awards at the 2017 IAAPA Attractions Expo: the attraction industry's largest and most prestigious event. Both were awarded to the Group's accesso Prism product, which won IAAPA's highest honour for a new product, the Impact Award, as well as a Brass Ring award for the best new technology product. IAAPA's Impact Award is bestowed annually on a winner of one of the Best New Product Categories that, in the opinion of the judging panel, had or will have the largest impact on the amusement parks and attractions industry. The Brass Ring award recognises excellence throughout the global attractions industry, and is the fifth such award accesso has won in the last nine years.
In the same week, accesso was also named mid-market business of the year at the Lloyds Bank National Business Awards. In their summarising comments, the judges referenced the Group's global reach, vision and dynamic leadership as reasons for winning the award. "
"accesso Prism wearable technology wins coveted IAAPA Impact Award
20th November 2017
Leading technology solutions provider, accesso, has won IAAPAs prestigious Impact Award for its breakthrough accesso Prism technology.
A Brass Ring winner in the Best New Technology category, Prism was judged to have the greatest impact on the amusement parks and attractions industry.
This is the fifth time accesso has scooped IAAPAs Best New Product Technology award in the past nine years. The IAAPA Brass Ring Awards recognise excellence throughout the global attractions industry.
Prism allows for a fully integrated smart park
accessos award-winning Prism technology is a fully integrated smart park solution. The next-generation, wearable device can handle everything from front gate entry and secure cashless purchases, to sending push notifications or triggering events based on guest location.
Prism employs the companys award-winning queuing technology: LoQueueSM. Guests secure their place in a virtual queue for an attraction or show simply by swiping the wristbands touchscreen menu no need for a kiosk or smartphone. If a rides operation is temporarily interrupted, or a show is rescheduled, the Prism device will simply notify guests.
"ACCESSO - THE LLOYDS BANK MID-MARKET BUSINESS OF THE YEAR
THE JUDGES SAID
"AIM listed accesso is a truly global business, providing premier technological solutions to the leisure, entertainment and cultural markets in 27 countries. Accesso's strong business vision, dynamic leadership and commitment to service and innovation has enabled it to forge an enviable set of long-term, sustainable and mutually beneficial relationships with clients. Ambition, technology and commitment to customer experience continue to drive accesso's growth and development, in a market with enormous opportunity."
And also, a nice snippet from the BlackRock Smaller Companies Trust portfolio update just out:
"Shares in ticketing and virtual queuing solutions provider Accesso Technology continued to rise following the strong interim results announced in September. The attraction market remains relatively early in the move towards electronic and mobile commerce and Accesso's market leading technology is becoming increasingly central to its customers' propositions, leveraging software and data to improve guest experience while driving operator profitability."
""Were proud to announce that today at the 2017 @IAAPAHQ Attractions Expo we were presented with the Brass Ring Best New Product Award for accesso Prism! This is a huge honor for our team to be recognized as a technology leader in the amusements industry."
I also notice that Carnival Cruises are to extend the Ocean Medallion device to a further 7 cruise ships by January'19:
"Carnival plans to incorporate Ocean Medallion into seven additional ships by January 2019. The program brings the if you like this, you might like this mentality adopted by Netflix and Amazon to the cruise ship industry. The ships guest portals allow passengers to request everything from sunscreen to a cocktail, which can be brought directly to them, thanks to the on-board sensors. At the same time, the Ocean Medallion app keeps track of users activities in order to predict what they may want to do at any given time.
Social engagement is one of the things being calculated, and so is the nuance of the context, said Michael Jungen, Carnivals SVP of experience design.
The data points being collected include where passengers spend most of their time, which other passengers they spend time with and what time of day it is when they are in certain places on the ship. The cruise ships stewards will also be able to access real-time data on guests, such as whether it is a passengers birthday or whether a guest has specific plans on a given day."
And that Carnival's "multi-million-dollar redesign and upgrade of Cruise Terminal 2 at Port Everglades in Fort Lauderdale" includes the following re Ocean Medallion:
"The transformation includes the addition of Carnival Corporations proprietary xIoT (Experiential Internet of Things) network, which is activated by the Ocean Medallion. As a result, guests sailing on Medallion Class ships will enjoy expedited boarding and a more personalized arrival experience as soon as they enter the terminal.
That includes interacting with their Ocean Tagalong on a gigantic LED screen (8 3 tall by 53 5 wide) that surrounds the Ocean Portal area where guests enter after clearing the security and check-in area."
"Speaking about Universals TapuTapu technology, which was rolled out earlier this year. Belzer said: We have had rave reviews from those who have done their homework and know how to use it in advance but we do need to educate people about it.
Hope this is helpful. It's just my opinion based on what I think the chart is suggesting. This is always a balance of probabilities so my opinion can be wrong and other analysts may have differing views.
"Digonex and accesso Siriusware Announce Dynamic Pricing Relationship
Posted on October 24, 2017 by Digonex
Indianapolis (October 24, 2017) Digonex, a leading provider of dynamic pricing solutions, is pleased to announce that it has reached an agreement to make its services available to clients of accesso that currently utilize their accesso Siriusware ticketing and admissions solution.
Under the agreement, Digonex has integrated their technology with the accesso Siriusware platform to make it easier for clients to utilize Digonexs powerful dynamic pricing technology to accelerate revenue growth, enhance community accessibility and advance other strategic objectives.
The relationship with Digonex brings a new set of capabilities to accesso Siriusware clients. Digonex develops a customized set of algorithms for each client to determine the optimal admission price for each day and then update prices over time as new data and insights are gathered. Once the recommended prices are approved by the client, Digonexs solution also automatically creates the pricing rules required to implement the new prices in accesso Siriuswares platform.
We are thrilled to be part of the Accesso Siriusware community, said Greg Loewen, Digonexs Chief Executive Officer. Accesso has always focused on providing its clients with world-class functionality and we are looking forward to helping them optimize revenue through the implementation of our customizable, fully-automated dynamic pricing solutions.
We are delighted to be working with Digonex, said Mark Danemann, President of accesso Siriusware. We have always focused on providing our clients with innovative tools to drive revenue and through our new relationship with Digonex, our clients now have seamless access to best-in-class dynamic pricing solutions.
I thought it would be interesting to quote the following from the advfn board:
"@@Just watched the Tom interview which I suggest all serious holders should do.
The biggest takeaway for me (aside from underpinning my decision to buy and hold this company) is that Carnival are spending a nine figure sum in developing their Medallion Program during this year as this large project is rolled out - thats a spend in excess of £/$100,000,000! Im sure a large part will find its way into Accessos pockets...
I hadn't appreciated until now that ACSO's July acquisition The Experience Engine (TE2) was behind Carnival Cruises' introduction this year of its Ocean Medallion device on 100 cruise ships. Having looked again at the acquisition RNS it confirms that Carnival are a TE2 client.....
Here's just one article on TE2 and Carnival (there are lots of others):
"City broker thinks Accesso shares are now worth more than £21 after last weeks solid interims
10:19 29 Sep 2017
The major driver to our target price increasing from £17.47 to £21.15 is the roll-forward of our base valuation year to reflect a full-year contribution from the Ingresso and TE2 acquisitions
Analysts at N+1 Singer have upgraded their recommendation and hiked their price target for ticket and queue management firm Accesso Technology Group PLC (LON:ACSO) following last weeks solid set of interims.
Accesso signed up 40 new clients in the first half which helped it deliver an adjusted operating profit which is what it considers to be a key underlying metric of US$46.6mln (H1 2016: US$39.7mln).
N+1s Adam Lawson has upped his full-year earnings per share forecast to reflect a lower effective tax rate but said the main reason for his bullish outlook is because of the impact of recent acquisitions.
The major driver to our target price increasing from £17.47 to £21.15 is the roll-forward of our base valuation year to reflect a full-year contribution from the Ingresso and TE2 acquisitions, Lawson wrote in a note this morning.
This increase, together with improving earnings momentum, drives our upgrade from hold to buy.
Whitman Howard have issued a brief update entitled "Post analyst meeting feedback" FYI.
They retain their Buy and 2,000p target. A couple of snippets - sounds like management are priming the analysts to expect more news from the Asia-Pacific region, including China:
"The Board are confident are making FY estimates and we reiterate this confidence. H2 will have the full summer trading months and the added benefit of both recent acquisitions which are progressing to plan, and the recent Village Roadshow
contract win in Australia."
"ACSO continues to benefit underlying growth in theme parks as well as the increasingly connected nature of venues. We retain our positive view. Management continued to highlight the potential of the Asia-Pacific region and the importance of being taken in to the Chinese market by Merlin. ACSO is supported by significant long term contracts (Merlin, Six Flags, Village Roadshow) with clear visibility and an improving mix of the higher margin ticketing sales."
Agreed. Nice bounce from the lows - looks like the MMs got some stock nicely from a few short-termist/trader PIs.
Interesting that every trade today bar one has been an O trade, i.e PIs. There's been just one OK (i.e likely institutional) trade, and that was a Â£60,000 buy.
ACSO has qualities of high recurring revenues and growth rates, global roll-outs, and cross-sector potential - plus extremely capable management - which most other companies don't have. Hence its rating.
Besides, its PEG is just 0.64 given 57% expected EPS growth next year and based on the upcoming forecast P/E. ACSO is thus very good value on Slater's prime valuation method.
Excellent results and outlook as flagged. This news is very encouraging:
"accesso Prism continues to make excellent strides and a current leading client is about to start replacing their existing Qbot estate with the new device"
along with updates that the Merlin roll-outs and the Universal introduction of Prism are going smoothly.
Plus the outlook for H2 and beyond is as good as usual.
Every reason to continue to hold imo as the story develops. Particularly given such strong growth as (1) ACSO are forecast to make $21.5m EBITDA this year rising to $39.2m in 2019. And (2) most of ACSO's earnings are predictable, with huge recurring revenues. Which the City loves.
"Numis Securities, one of accessos brokers, added that the contract win means accesso has displaced the incumbent operator, Omniticket.
This represents a significant upsell; Village Roadshow was previously a customer for two Qband installations (Wet'n'Wilds Sydney and Las Vegas) so ticketing adds considerably to that relationship. We see further potential for accesso to benefit from Village Roadshow's international expansion, although this initial contract is for the Australian venues, the broker said.
Our previous research has indicated that Village Roadshow was potentially set to be a reference customer for a revamped ticketing platform from its incumbent supplier, Omniticket. For ACSO to displace this suggests to us a significant competitive advantage, and adds to the track record of Merlin, a long-term Six Flags renewal, and a major Prism implementation at a new (unnamed) US venue. As a major upsell, this also demonstrates the synergy within ACSO's broad product stack and, longer term, potentially bodes well for other upsell of existing and recently-acquired products, the broker added.
Despite the effusion, the broker does not foresee much effect on accessos financials this year, as Australias summer season will just be getting underway when the year ends.
A quick calculation by Numis suggests accesso could enjoy roughly $1-2mln of annual ticketing revenue from the arrangement, which helps underpin the brokers overall growth expectations."
"The fund has a bias to technology companies as Harry Nimmo has identified numerous investment opportunities in this area. Investments in this sector include Accesso Technology Group. This business develops queue technology for theme parks and visitor attractions, which represents a game changer for the entertainment industry, according to the manager. He believes the company has the potential to grow ahead of expectations and he values the businesss predictable earnings."
"Agreement with Village Roadshow Theme Parks for accesso Passport®
- Five-year agreement with Australia's largest theme park operator -
- Contract demonstrates accesso's expanding footprint in an important growth region -
accesso Technology Group plc (AIM: ACSO), the premier technology solutions provider to leisure, entertainment and cultural markets, today announces a five-year agreement with Village Roadshow Theme Parks ("Village Roadshow"), Australia's largest theme park operator, to install the accesso Passport ticketing suite in key attractions across the country.
The accesso Passport eCommerce solution will be go-live from spring next year at Warner Bros. Movie World; Wet'n'Wild Sydney; Wet'n'Wild Gold Coast; Paradise Country; and Sea World (Australia). Each of these venues will deploy accesso Passport's comprehensive, secure and fully-hosted online shopping experience to improve the guest-purchasing experience and drive incremental revenue from its eCommerce and front gate ticketing operations.
Importantly, this contract represents a significant expansion of an existing relationship, following the installation of QbandSM, an accesso LoQueueSM virtual queuing solution, at Village Roadshow's Wet'n'Wild Sydney in 2016. It also demonstrates accesso's ongoing commitment to expanding its reach across new markets and geographies. The Asia-Pacific region is a key growth area for the Group, and this win is a reflection of the progress accesso is making in establishing a foothold there.
I will probably hold it until all potential has been exhausted. I can foresee opportunity for global expansion. The company already has market leading positions in some countries but there is a massive opportunity to capitalise in the rest of the world. There are market verticals where Accesso is still weak such as sport and live music where it intends to grow. The queueing business has opportunity but it is getting closer to the original vision of a queueless theme park, which will change the industry.
Finally, I suspect M&A is rarely far away, as technology advances and opportunities arise. The company is now well funded with some of the worlds largest attraction brands on the client list, so there could be exciting times ahead for shareholders."
Accesso Technology (ACSO:AIM) is a unique growth story on the UK market. We believe it will eventually get taken over at a big premium to the market price.
Accesso has developed best-in-class, cloud-based queue-beating solutions and ticketing technology.
It helps theme park visitors to avoid standing in endlessly long lines. That leaves them with more time to enjoy the attractions with an improved experience, and importantly for site operators, spend more money across other parts of the theme parks.
In demand technology
Owners of some of the worlds biggest attractions are sold on the idea, such as Six Flags Entertainment, the $5bn owner of theme and water parks across the US, plus several zoos.
The UKs Merlin Entertainments (MERL), which owns Alton Towers, Chessington, and operates several Legoland parks in the UK and Europe under licence, is also a client.
These type of relationships have helped Accesso develop an excellent growth track record. The company is profitable and cash generative.
Big growth opportunities are cropping up in emerging markets across Latin America, the Middle and Far East, including China. Dubai, for example, plans to take on Florida as the worlds number one holiday destination.
Accesso has greater ambitions still, launching itself into the global event ticketing market, currently dominated by Ticketmaster. This encompasses major sporting events and pop concerts, for example.
Accesso believes it can leverage its state-of-the-art, cloud-based technology to undercut commissions earned by rivals, making it a more attractive partner to event organisers and performers.
The $80m (£62.3m) acquisition of TE2 on 12 July is the latest in a long list of deals that should help it meet its objectives. TE2 provides customer engagement software to the leisure, hospitality, entertainment and retail sectors.
Customers include Merlin, Cedar Fair Entertainment and SeaWorld Parks & Resorts, blending a mixture of new customers with opportunities to build deeper relationships with several existing Accesso clients.
Analysts anticipate compound annual growth of about 18% through to 31 December 2019, which would double last years $15.3m pre-tax profit to $32.3m. That would almost halve the prospective price to earnings multiple, from roughly 40 to 21.7 by the end of 2018
Best in class technology specialist remains a unique UK investment
20 July 2017|Great Ideas
Accesso Technology (ACSO:AIM) is a unique growth story on the UK market. We believe it will eventually get taken over at a big premium to the market price. Accesso has developed best-in-class, cloud-based queue-beating solutions and ticketing technology. It helps theme park visitors to avoid standing in endlessly long lines. That leaves them with more time to enjoy the attractions with an ... "
Important message from the Financial Conduct Authority:
Posting inside information that is not public knowledge, or information that is false or misleading, may constitute market abuse.
This could lead to an unlimited fine and up to seven years in prison.
If you have any information, concerns or queries about market abuse, click here.
The content of the messages posted represents the opinions of the author, and does not represent the opinions of Interactive Investor Trading Limited or its affiliates and has not been approved or issued by Interactive Investor Trading Limited.
You should be aware that the other participants of the above discussion group are strangers to you and may make statements which may be misleading, deceptive or wrong.
Please remember that the value of investments or income from them may go down as well as up and that the past performance of an investment is not a guide to its performance in the future.
The discussion boards on this site are intended to be an information sharing forum and is not intended to address your particular requirements.
Whilst information provided on them can help with your investment research you need to consider carefully whether you should make (or refraining from making) investment or other decisions based on what you see without doing further research on investments you are interested in.
Participating in this forum cannot be a substitute for obtaining advice from an appropriate expert independent adviser who takes into account your circumstances and specific investment needs in selected investments that are appropriate for you.