Trading Update
FY23 revenue £22m+ and adjusted EBITDA £2m+, with contractual delays impacting growth and mix.
- Revenue FY23 no less than £22m
- Adjusted EBITDA FY23 no less than £2m
- Current sales pipeline £14m
- FY24 revenue from contracted sources 62%
- FY24 revenue from anticipated extensions 23%
- FY24 revenue from new business 15%
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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 EBITDA1 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".
1 Adjusted EBITDA excludes share-based payment charges along with depreciation, amortisation, interest, and tax from the measure of profit.
596/2014) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.