REG - Tialis Essential IT - Trading Update

Tialis Essential ITAnnouncement

17/01/2024 07:00

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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 EBITDA(1) 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                               Tel: +44 (0)344 874 1000

 Andy Parker, Executive Chairman

 Cavendish Capital Markets Ltd                         Tel: +44 (0)20 7220 0500

 Nominated Adviser and Broker

 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.

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulations (EU No.
596/2014) which is part of UK law by virtue of the European Union (Withdrawal)
Act 2018. Upon the publication of this announcement, this inside information
is now considered to be in the public domain.

 

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