TIALIS ESSENTIAL IT PLC — Earnings Release 2023

Jan 17, 2024

National Storage Mechanism | Additional information

RNS Number : 9046Z

Tialis Essential IT PLC

17 January 2024

Tialis Essential IT Plc

("Tialis" or the "Company")

17 January 2024

Trading Update for the year ended 31 December 2023

Tialis, the mid-market IT Managed Services provider, gives an update on trading for the year ended 31 December 2023.

Financial Highlights

·      The Company has had another year of profitable growth, although results were affected by additional contractual delays on signing new business and the mix of revenues was less favourable than expected

·      Revenue for the year is expected to be no less than £22m

·    Adjusted EBITDA1 is expected to be no less than £2m

·      Current sales pipeline is £14m with a record number of 19 different partners

·      2024 revenue is expected to be made up of 62% contracted revenue, 23% anticipated contract extensions, and 15% new business

Andy Parker, Executive Chairman, commented:

"2023 saw the successful integration of our first acquisition in over six years and, importantly, another year of profitable growth. We expect further improvement in 2024 across revenue, profit and cash generation as the Company continues to look forward with confidence".

For more information, contact:

Tialis Essential IT Plc Andy Parker, Executive Chairman	Tel: +44 (0)344 874 1000
Cavendish Capital Markets Ltd Nominated Adviser and Broker Corporate finance: Jonny Franklin-Adams/ Abby Kelly ECM: Tim Redfern	Tel: +44 (0)20 7220 0500

Notes:

1 Adjusted EBITDA excludes share-based payment charges along with depreciation, amortisation, interest, and tax from the measure of profit.

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