Datalex Digital Commerce

Apr 28, 2022

Irish travel software firm Datalex said revenues decreased 9pc in 2021 on the back of continued Covid-19 disruptions. However, it trimmed its 2020 losses and saw adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rise by $1m (€0.95m) last year. In its full-year results published on Thursday, Datalex said 2021 revenues came in at US$25.5m (€24.2m), 9pc down on 2020, as airlines continued to delay non-essential projects. Revenues were 16pc down on 2020, excluding a positive one-off $2m transaction. Adjusted EBITDA was $2.4m in 2021, up from $1.4m, while losses after tax were $4.9m for the year, an improvement on the $6.5m recorded in 2020. Cash balances were $8.3m at the end of 2021, up from $3m in 2020, on the back of spending controls and a successful capital raise last year. Datalex also has access to an undrawn loan facility of €10m until the end of the year, it said. However, the firm said the continuing impact of the pandemic, especially in China, and the ongoing war in Ukraine "are challenges for the travel industry”. “We are well placed to benefit from a full global recovery after right sizing our cost base and securing support from our investors, although the speed of that recovery remains difficult to gauge,” the firm said in a statement today. Datalex will hold its annual general meeting on May 26 in Dublin. Business Newsletter