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Datalex Plc Earnings Release 2018
1961_iss_2019-08-02_e33108de-e40f-4470-ac8a-475383d5fc2a.pdf
Earnings Release
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MARKET UPDATE
This announcement contains inside information
Dublin, Ireland – 2 August 2019: Datalex plc (Euronext Dublin: DLE) ("Datalex", the "Company" or the "Group"), a leading provider of digital commerce solutions to global travel retailers, today issues the following statement.
On 15 January 2019, Datalex announced that it expected to report an adjusted EBITDA loss for FY 2018 of between \$1m and \$4m. On 27 March 2019, the Company announced that it was undertaking a detailed review of its financial year 2018 outcome and the transition to IFRS 15 in finalising its audit and its annual accounts for FY 2018. Following further progress on completing the audit for FY 2018, Datalex now expects to report an adjusted EBITDA loss for FY 2018 in the range of \$4m to \$6m.
Datalex confirms that acting CEO, Sean Corkery, and recently appointed CFO, Niall O'Sullivan, have been leading a comprehensive review of the Datalex business. This review is on-going and Datalex will update shareholders on the results of this review at its next AGM which is expected to take place on 17 September 2019.
At the AGM the Company will also update shareholders on the outlook and guidance for FY 2019. Prior guidance for FY 2019 and FY 2020 is suspended until this management review is complete.
The Company is currently reviewing its investment in product development and expects to report a significant exceptional cost in FY 2018. This will be reflected in the annual accounts for FY 2018 which the Company expects to publish in advance of the AGM.
| Investor Enquiries |
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Sean Corkery Datalex plc +353 1 806 3500 [email protected]
Media Enquiries
James Dunny Fleishman Hillard +353 86 388 3903 [email protected]
About Datalex
Datalex is a market leader in digital commerce for travel retail. The Datalex Digital Commerce Platform provides airlines with a unique solution to drive revenue and profit as digital retailers. Today the platform enables a travel marketplace of over one billion shoppers covering every corner of the globe, driven by some of the world's most innovative airline retail brands. Datalex's customers include, Air China, JetBlue Airways, Hainan Group, SAS, Swiss International Air Lines, Lufthansa Group, Philippine Airlines, Aer Lingus, Brussels Airlines, Air Transat, Air Malta, Multiplus, STA Travel and Trailfinders. The company is headquartered in Dublin, Ireland, and maintains offices across Europe, the USA and China. Datalex is a publicly listed company on Euronext Dublin (DLE). Learn more at www.datalex.com or follow on twitter @Datalex.
The financial information in this announcement is not audited and does not constitute statutory financial statements of Datalex plc. The financial statements for FY 2018 will be prepared in accordance with International Financial Reporting Standard 15 "Revenue from contracts with customers" (IFRS 15) which came into effect on 1 January 2018. The main impact of the new standard relates to the timing of when revenue and costs are recognised during a customer contract (in particular on new deployments). The results to be reported for FY2018 will clearly identify any such impact. Adjusted EBITDA is defined as earnings from continuing operations before (i) interest income and interest expense,(ii) tax expense, (iii) depreciation and amortisation expense (iv) share based compensation expense and (v) exceptional items.
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. Datalex undertakes no obligation to update any forwardlooking statements.