Tialis Essential IT PLC Trading Update (9046Z)

TIDMTIA

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 GBP22m 
   --    Adjusted EBITDA (1) is expected to be no less than GBP2m 
   --      Current sales pipeline is GBP14m 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                     Tel: +44 (0)344 
  Andy Parker, Executive Chairman             874 1000 
 Cavendish Capital Markets Ltd               Tel: [phone] 
  Nominated Adviser and Broker                0500 
  Corporate finance: Jonny Franklin-Adams/ 
  Abby Kelly 
  ECM: Tim Redfern 
 

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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January 17, 2024 02:00 ET (07:00 GMT)