Tuesday 15 October 2019

Datalex reaffirms expected double digit growth for 2018

Aidan Brogan, CEO of Datalex
Aidan Brogan, CEO of Datalex
Ellie Donnelly

Ellie Donnelly

Irish travel software firm Datalex has said that it expects to deliver double digit growth in its adjusted earnings before interest, taxation, depreciation, and amortisation (EBITDA) for financial year 2018.

In a statement ahead of its AGM today the Dublin-listed company said that its trading performance to date in 2018 has been "in line with expectations" and that it continues to drive revenue growth from its existing customer base, while its new business pipeline "continues to expand."

"We are seeing demand for the Datalex Digital Commerce Platform grow, as the pace of the digital transformation of the airline industry accelerates, and as more people are travelling by air," Paschal Taggart, chairman of Datalex, is expected to tell shareholders at the company’s AGM today.

Datalex clients cinclude airlines such as Aer Lingus, Lufthansa, JetBlue and Virgin Australia

Mr Taggart will also say that both Multiplus and the Lufthansa Group will go live and begin generating platform revenue later in 2018, and will drive adjusted EBITDA growth in 2019 and beyond.

Multiplus is a Brazilian-based loyalty network.

Last month Datalex announced an agreement with Multiplus that will see it deliver its digital commerce platform for airline and travel products to support the Multiplus loyalty-sector business.

Earlier this month Datalex, which counts billionaire financier Dermot Desmond as major shareholder, held its first Capital Markets day for investors and analysts in London.

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