Tialis Essential IT
Plc
("Tialis" or the
"Company")
06
January 2025
Trading Update for the year
ended 31 December 2024
Tialis, the mid-market IT Managed
Services provider, gives an update on trading for the year ended 31
December 2024.
Financial Highlights
· Revenue for the year is expected to be no less than
£20.5m
· Tialis
has had a third consecutive year of Adjusted EBITDA1 of no less than
£2m
· Significant year on year increase in positive cash
generation
· Tialis
agreed a £4m Revolving Credit Facility ("RCF") with Santander. The
RCF carries an interest rate of SONIA + 3.75 per cent. and is for a
term of 3 years. The RCF was used for early repayment of the loan
notes of £4.2m which were due for repayment in January and December
2025.
· Current sales pipeline is £11m with a record number of 19
different partners
· 2025
revenue is expected to be made up of 48% contracted revenue, 29%
anticipated contract extensions, and 23% new business
Ian
Smith, Executive Director, commented:
"The board is committed to growing Tialis both from M&A
activities and organic sales, and we collectively intend the group
to become a cash generating vehicle and will look to implement a
progressive dividend policy in the future. The recent acquisition
of shares from an existing institution is testament to our
commitment, which only adds to the substantial shareholding between
Daisy/Matt and MXC/Ian. Despite recent proposed changes to the IHT
legislation we believe that trading AIM equities retain their IHT
attractiveness".
For
more information, contact:
|
Tialis Essential IT Plc
Ian Smith, Executive
Director
|
Tel: +44 (0)344 874 1000
|
|
Cavendish Capital Markets Ltd
Nominated Adviser and
Broker
Corporate finance: Jonny
Franklin-Adams/ Elysia Bough
Corporate Broking: Tim
Redfern
|
Tel: +44 (0)20 7220 0500
|
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.
