Irish Travel Software Firm Datalex Records Positive Earnings For Six Month Period That Ended On June 30, 2021
Irish travel software firm Datalex, which helps airlines to improve their ancillary sales to customers, has recorded positive earnings for the six month period that ended on June 30, 2021.
As reported by The Irish Independent, Datalex generated adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) of $1.8 million (€1.5 million) during the six month period, which was up from a loss of $1.3 million (€1.1 million) during the same period last year.
Total operating costs before exceptional items reportedly decreased by 22% to $12.2 million (€10.3 million) during the first half of 2021, according to interim results from the firm, and revenue for the period was reportedly $12.6 million (€10.6 million), which was reportedly 5% decline less than the revenue figure that was recorded for the same period in 2020.
Additionally, Datalex reportedly completed a capital raise of $29.7 million (€25 million) on July 8.
Datalex CEO Statements
The Irish Independent quotes Datalex CEO Sean Corkery as saying, "The recovery from the impact of COVID-19 on the airline industry will take time and airlines continue to operate in a COVID-centric backdrop which has caused them to delay and extend IT and digital investment decisions.”
Corkery reportedly added, "However, we have experienced a considerable increase in sales pipeline activity in the second quarter of 2021, as airlines began to reconsider investment in their retailing technology as part of their recovery strategies."
Datalex has reportedly experienced some decline in customers, which it reportedly previously disclosed, due to one customer ceasing trading and entering into administration last year, and two clients that reportedly told Datalex last year that they would be ceasing or reducing services with the company.
Datalex reportedly did not add any new customers during the first half of 2021, but the company reportedly said there was interest in all of its products during the six month period.
Datalex's customers include Aer Lingus, Air China, Hainan Group, JetBlue and Trailfinders.
Chief Financial Officer To Retire
Separately, Datalex reportedly said that its chief financial officer, Niall O'Sullivan, retire from his role at the company at the end of 2021.
O'Sullivan, who was also until now on the board of Datalex, has reportedly been in the position for two years.
Datalex reportedly said it has started a search for his replacement and will update the market "in due course."
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