Airline IT firm Datalex saw revenues fall in 2021 due to Covid hit

Irish journey software program agency Datalex mentioned revenues decreased 9pc in 2021 on the again of continued Covid-19 disruptions.

owever, it trimmed its 2020 losses and noticed adjusted earnings earlier than curiosity, tax, depreciation and amortisation (EBITDA) rise by $1m (€0.95m) final yr.

In its full-year outcomes revealed on Thursday, Datalex mentioned 2021 revenues got here in at US$25.5m (€24.2m), 9pc down on 2020, as airways continued to delay non-essential tasks.

Revenues have been 16pc down on 2020, excluding a optimistic one-off $2m transaction.

Adjusted EBITDA was $2.4m in 2021, up from $1.4m, whereas losses after tax have been $4.9m for the yr, an enchancment on the $6.5m recorded in 2020.

Cash balances have been $8.3m on the finish of 2021, up from $3m in 2020, on the again of spending controls and a profitable capital elevate final yr.

Datalex additionally has entry to an undrawn mortgage facility of €10m till the top of the yr, it mentioned.

However, the agency mentioned the persevering with affect of the pandemic, particularly in China, and the continued conflict in Ukraine “are challenges for the journey trade”.

“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 agency mentioned in an announcement at present.

Datalex will maintain its annual common assembly on May 26 in Dublin.

The group is constant to spend money on merchandise and synthetic intelligence-powered pricing, it mentioned, with an AI manufacturing trial accomplished in 2021.

Virgin Australia selected Datalex as their airline expertise associate final December, with “several” different buyer alternatives within the pipeline, the group mentioned.

Datalex chief government Sean Corkery mentioned the group delivered a “strong monetary efficiency in a yr dominated by Covid-19″.

“We look forward with confidence as airlines begin to reconsider, and accelerate, their investment in digital and retailing technology,” he mentioned.

“Datalex is in a powerful place to benefit from this and is effectively positioned to attain regular, sustainable development.”

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