TIDM0OPM TIDMDLE
RNS Number : 3430Y
Datalex PLC
04 May 2023
Datalex plc
Publication of 2022 Annual Report and Notice of Annual General
Meeting
FY2022: a year of meaningful progress despite the challenges
faced in one of our main markets.
Dublin, Ireland 04 May 2023: Datalex plc ("Datalex", the
"Company" or the "Group") (Euronext Growth Dublin: DLE) , a market
leader in digital airline retail products and software solutions,
announces that it has today published its Annual Report and
Financial Statements for the year ended 31 December 2022 and Notice
of Annual General Meeting ("AGM").
Key Financial / Performance highlights
-- 2022 revenue was US$23.5 million representing an 8% decrease
when compared to 2021. Excluding a US$2 million once-off revenue
item in 2021, 2022 revenues are in line with the prior year.
-- The Group was materially impacted by Covid restrictions on
its Chinese customers throughout 2022 resulting in a decline in
platform revenues of 17% in 2022 when compared to 2021. Since
restrictions were lifted in the Chinese market in January 2023, the
Group is seeing a material increase in demand in China with March
transaction volumes reaching 42% of 2019 figures.
-- Services revenues increased by US$2.8 million representing a
33% increase versus 2021 due to a combination of new customer
onboarding activity from recent wins and projects that recommenced
post-Covid.
-- Total operating costs excluding exceptional items increased
by 28% to US$35.0 million (2021: US$27.4 million), primarily due to
increased costs incurred onboarding new customers. 2021 costs were
also net of a once-off supplier discount of US$1.5 million.
-- 2022 adjusted EBITDA declined to a loss of US$5.3 million
from adjusted EBITDA earnings of US$2.4 million in 2021.
-- The Group incurred a loss after tax for the year of US$11.5
million compared to a loss after tax in 2021 of US$4.9 million.
-- Our cash balance at year end was US$6.5 million, down from
US$8.3 million at the end of 2021. A net cash outflow from
operations of US$3.4 million and outflows to fund capitalised
product development of US$2.4 million was offset in part by
proceeds of borrowings of US$5 million, contributing to the
year-on-year decrease in cash.
Significant Corporate Developments
-- Partnership implementations with Virgin Australia, announced
in December 2021 and easyJet, announced September 2022, are
progressing as expected.
-- The Group has recently renewed its relationship with key
existing customers, JetBlue, Air China and Air Transat, in tenure
of between three and five years and all changed to SaaS based
license and transaction terms. The Group has very recently signed a
new contract with LATAM for Datalex Dynamic Shopping and
Pricing.
-- The Group has seen a strong recovery in airline activity
across all geographies in the first three months of 2023, with
aggregated booking volumes for our global customer base (excluding
China) having increased by 31% in Q1 2023 versus Q1 2022.
-- On 27 February 2023, Scandinavian Airlines (SAS) cancelled
their contract with the Group via notification of rejection under
Chapter 11 process.
-- Investment in product development has continued. Datalex
Pricing AI, launched in May 2022, is an entry into a new business
area for Datalex within airline retail and expands the Group's
total addressable market.
-- Currently the Group has drawn down EUR9m of the EUR10m
available under the existing debt facility. Any amounts drawn under
this facility are required to be repaid by 31 December 2024. As
previously announced, in the context of the Company's strategic
development, in particular the expected growth from recent new
customer wins and other opportunities, the Board has engaged its
financial advisers to explore further fundraising options to secure
capital to repay the debt facility and support the expansion of the
business as it returns to positive cashflow generation and further
builds out its global customer base.
-- Datalex will host a Capital Markets event for analysts and
investors on 10 May 2023 in London. The event will commence at
16.00 in Tower 42, 25 Old Broad St, London EC2N 1HQ, United
Kingdom. Please register your attendance through Goodbody below:
madeleine.bruce@goodbody.co.uk
Commenting on today's announcement, Sean Corkery, CEO of
Datalex, said:
"While we started out 2022 optimistic that the global aviation
industry would rebound quickly, international travel restrictions
were slower to unwind. Unfortunately, these restrictions continued
throughout 2022 in China, where much-anticipated recovery failed to
materialise during the year.
Thankfully, we are confident that this turbulent period is now
firmly behind us and are encouraged by a material increase in
demand we have observed in China and across our global customer
base in the first three months of this year.
Over the past eight months we have welcomed leading European
airline easyJet as a new customer and announced renewed and updated
contracts with our partners JetBlue, Air China and Air Transat.
This demonstrates the market confidence in our products and
solutions and positions Datalex to capture future growth
opportunities as the airline industry recovers.
With this growth brings new opportunities to drive digital
retail excellence at scale. We look forward to working with our
airline customers to continue supporting them on their growth
trajectory and power next generation airline retailing through our
innovative technology solutions."
2022 results presentation
Management will review the 2022 results on a conference call at
9.30am Dublin time today. A copy of the presentation will be
available on our website at investors.datalex.com and the call
details are provided below:
Join on your computer or mobile app:
Click here to join the meeting
Meeting ID: 346 836 049 199
Passcode: v8ndRu
Or call in (audio only)
+353 1 566 1167,,937950618#
Phone Conference ID: 937 950 618#
Find a local number
Annual Report
Datalex's 2022 Annual Report and Financial Statements are
available to view on www.datalex.com/investors and will shortly be
available for inspection at
http://www.rns-pdf.londonstockexchange.com/rns/3430Y_1-2023-5-3.pdf
AGM
The Company's AGM will be held on Thursday 22(nd) June 2023 at
11.00am Dublin time at Block V, Eastpoint Business Park, Dublin 3
D03 H704, Ireland.
The Notice of AGM contains details of all resolutions to be
proposed at the AGM. Any relevant updates regarding the AGM,
including any changes to the arrangements outlined in the Notice
will be announced via a Regulatory Information Service.
The Notice of AGM and a Form of Proxy will shortly be available
on the Company's website and may be viewed and downloaded online at
www.datalex.com/investors . Hard copies of the Notice of AGM will
be posted to shareholders who have elected to receive them. Copies
of the notice will be submitted to Euronext Dublin where they will
be available for inspection.
Contact information
Investor Enquiries
Neil McLoughlin, Datalex plc
+353 1 806 3500
investor.relations@datalex.com
Media Enquiries
Eavan Gannon, Powerscourt
+353 87 236 5973
Datalex@powerscourt-group.com
About Datalex
Datalex's purpose is to transform airline retail. Datalex is a
market leader in airline retail technology, offering unique
products that enable airlines to drive revenue and profit as
digital retailers. Datalex has a strong track record of delivering
digital retail transformation for progressive airline brands
worldwide.
The Group is headquartered in Dublin, Ireland, and maintains
offices across Europe, the USA, China and Australia. In 2023,
Datalex was awarded the 'Great Place to Work(R)' and 'Best
Workplaces in Tech(TM)' certifications. Datalex plc is a publicly
listed company, on Euronext Growth, Dublin. Learn more at
www.datalex.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
ISEAJMLTMTBMBMJ
(END) Dow Jones Newswires
May 04, 2023 02:00 ET (06:00 GMT)
Datalex (LSE:0OPM)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Datalex (LSE:0OPM)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024
