Profit at travel software firm Datalex up over 30pc driven by strong revenue
Irish travel software firm Datalex has reported a profit after tax of $7.1m (€5.7m) for 2017, a 31pc increase year-on-year.
Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) were $14.2m for the 12 months, a 16pc increase year-on-year, according to the company’s financial results released today.
The performance was driven by a 15pc increase in the company’s revenues to $63.9m, including a 29pc increase in services revenues to $34.6m, which the company said was driven by current developments at the Lufthansa Group and JetBlue Airways, as well as continuing demand for new functionality across the company’s existing customer base.
"In 2017, we once again achieved double-digit growth across our key metrics of revenue and Adjusted EBITDA, while also making significant progress in scaling the business to drive market share and performance in the years ahead," Aidan Brogan, CEO of Datalex, said.
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The company - whose software helps airlines to boost revenue from their booking platforms – reported a 29pc growth in its basic earnings per share to 9.32 US cents.
During 2017 Datalex completed the development of its Online Travel Agent Platform, which is said is expected to go live with JetBlue in the next three months, while the company said that the development of its next-generation digital platform to the Lufthansa Group was “on schedule”.
When the platform goes live in the second half of 2018, it will be the airline industry’s first multi-airline digital commerce platform, Datalex said.
"The digital transformation of the airline industry and broader travel sector continues to grow at a significant pace, presenting more opportunities for us to expand... Datalex is now positioned to execute on an exciting phase of growth, and I am confident that we will do so in 2018 and beyond," Mr Brogan said.