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RNS Number : 4237H
Datalex PLC
24 November 2022
Prior to publication, the information contained within this
announcement was deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulation (EU)
No. 596/2014. With the publication of this announcement, this
information is now considered to be in the public domain.
Datalex plc
2022 Guidance Update
Dublin, Ireland, 24 November 2022: Datalex plc ("Datalex", the
"Company" or the "Group") (Euronext Growth Dublin: DLE) today
provides an update to guidance for 2022 due to the ongoing impact
of Covid restrictions on its Chinese customers and the timing of
specific services projects which will move from 2022 to 2023.
Earlier in the year when providing its 2022 outlook, the Company
anticipated that the Chinese market would experience a material
recovery in the latter half of the year versus H1 2022. This
recovery has not materialised due to continued lockdowns in key
cities in which Chinese customers operate. As a result, our
revenues and earnings derived from China will be negatively
impacted in H2 2022.
Elsewhere, Datalex has continued to see strong engagement with
customers as they seek to accelerate their digital retail roadmap,
which is providing a number of enhanced opportunities for the
Company. However, partly as a consequence of planning for the
delivery of such opportunities, it is now expected that services
activity levels will be lower than expected in H2 2022 as certain
projects move out to 2023. This will negatively impact 2022
revenues but will positively contribute to growth in 2023.
Based on the current performance and trajectory, the Group now
expects to report Revenue of $22.5 million to $23.5 million and
Adjusted EBITDA of -$5 million to -$6 million for FY 2022 (see
notes below regarding basis of preparation).
Sean Corkery, CEO said: "While short term forecasting has
continued to be difficult, we remain confident in the ability of
our business to grow in the medium to long term. Airlines are
focused on accelerating their digital offering and Datalex is very
well placed to assist them.
I am really encouraged by the strong engagement the team is
having with current and prospective customers across the globe as
we continue to execute on customer renewals and build on our robust
pipeline of potential new customers. In addition, I am happy to
report that the activation of our new customers, easyJet and Virgin
Australia is progressing well. All of which we expect to result in
meaningful revenue growth in 2023 and beyond."
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
The financial information in this announcement is not audited
and does not constitute statutory financial statements of Datalex
plc.
IFRS 15 recognition rules specify that timing of revenue
recognition may be affected by factors outside our control, for
example, including the credit rating of our customers. This may
impact on the timing of recognition of forecast revenues and costs,
as included in this guidance statement.
Adjusted EBITDA (Note 4) is defined as earnings from operations
before (i) interest income and interest expense, (ii) tax expense,
(iii) depreciation and amortisation expense, (iv) share-based
payments cost and (v) exceptional items (see Note 7).
This announcement contains certain forward-looking statements.
Actual results may differ materially from those projected or
implied in such forward-looking statements. Such forward-looking
information involves risks and uncertainties that could
significantly affect expected results. Those forward-looking and
other statements speak only as at the date of this announcement.
Datalex undertakes no obligation to update any forward-looking
statements. No statement in this document is intended as a profit
forecast or a profit estimate and no statement in this document
should be interpreted to mean that earnings per share for the
current or future financial years would necessarily match or exceed
the historical published earnings per share.
Statements contained in this announcement are based on the
knowledge and information available to the Board at the date it was
prepared and therefore facts stated, and views expressed may change
after that date. Nothing in this announcement is intended to
constitute an invitation or inducement to engage in investment
activity. This announcement does not constitute or form part of any
offer for sale or subscription of, or any solicitation of any offer
to purchase or subscribe for, any securities nor shall it or any
part of it nor the fact of its distribution form the basis of, or
be relied on in connection with, any contract, commitment or
investment decision in relation thereto. This announcement does not
constitute a recommendation regarding any securities.
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 2022, 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
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