Datalex plc announces results for the year ended 31 December 2011
Dublin, Ireland 30 March, 2012
We are pleased to report on our performance for the year ended 31 December 2011, a year in which
we have built on the progress made in 2010, by delivering 42% EBITDA growth, before exceptional
items, to $4.3m (2010: $3.1m) and growth in cash reserves to $12.5m (2010: $11.1m).
2011 Highlights
Some of the key highlights from 2011 include:

42% EBITDA growth, before exceptional items.

Increase in total cash reserves of $1.4m (2010 increase: $0.6m)

TDP goes live at Air China, and with global airline IT provider SITA.

A number of significant new contract wins, including new contracts with Delta Airlines and
United Airlines, the world’s two largest carriers, and Westjet, Canada’s number two carrier.

Winner of World Travel Awards for the third consecutive year, including the award for ‘The
World’s Leading Travel Merchandising Solution Provider’.

Conclusion of the Flight Centre litigation.
Financial Performance
A summary of our 2011 financial performance is set out below:
Year ended 31 December
2011
2010
Change
$M
$M
%
Total Revenue
28.0
26.8
+4%
Transaction revenue included in total revenue
13.2
13.0
+2%
Total cost of sales, selling & marketing costs and administrative expenses
29.1
28.5
+2%
Total cost of sales, selling & marketing costs and administrative expenses
before impact of product development
27.7
26.6
+4%
Loss before tax – before exceptional items
(1.4)
(2.1)
-33%
EBITDA before exceptional items
4.3
3.1
+42%
Cash and cash equivalents
12.5
11.1
+13%
Exceptional Items
2.5
0
n/a
Net Loss after exceptional items
3.9
2.1
n/a
EBITDA after exceptional items
1.8
3.1
n/a
2011 Review
Our expectations for 2011 were that we would deliver significant growth in our EBITDA and cash
reserves whilst continuing to expand our customer base. The results for the year are in line with
these expectations. Total revenue in 2011 was US$28.0m (2010: US$26.8m), and transaction revenue
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in the period was US$13.2m (2010: US$13.0m). 2012 will see a significant increase in transaction
revenue as we see the full year impact of revenue from customers who went live during 2011,
together with revenue from new customer wins in 2011 that will go live during 2012.
Our total operating costs before product development and deferred project costs were $27.7m
(2010: US$26.6m). With the projected increases in transaction revenue and customer numbers in
2012, it is anticipated that our operating leverage will improve in 2012, as our product strategy
delivers bottom line benefits.
Our loss for the year of $3.9m (2010: $2.1m) is after exceptional items of $2.5m. This is made up of
two elements; $2.1m as a result of the partial write off of receivables and some unrecovered
expenditure relating to the conclusion of the Flight Centre litigation, and a $0.4m provision against
our receivable from Spanair, which ceased trading on 27 January 2012 last.
Our EBITDA before exceptional items was $4.3m, a 42% increase on the previous year, and we have
grown our total cash reserves in 2011 to US$12.5m (2010: $11.1m).
2011 Business Development
In 2011 we brought a number of important new customers live on our platform:

Air China, which ranks among the world’s largest carriers, went live in July.

Global airline IT services provider SITA went live in April to enable merchandising pricing and
shopping for its customer airlines across the globe.

Air Malta went live in September.
We also secured eight new contracts in 2011, including:

Delta Airlines, the world’s largest carrier, which selected TDP to deliver their merchandising
strategy across all channels, serving over 160m passengers.

A new contract with United Airlines, who will use TDP for their Mileage Plus loyalty system,
the largest loyalty and redemption platform in the world.

We have also reached a further agreement with global airline IT services provider SITA, which
will see them use TDP as the full ecommerce solution for their airline customers.
The full list of our new contracts signed in 2011 is as follows:
Name
Country
Delta Airlines
USA
United Airlines
USA
SITA
USA
Westjet Airlines
Canada
Garuda
Indonesia
Malaysian Airlines
Malaysia
TCH
Germany
Air Pacific
Fiji
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Outlook for 2012
The economic challenges of the last number of years have required airlines to fundamentally
redefine and simplify their businesses. Airlines are recognising that their business is not simply
transport but retail, and their customers are travellers, not passengers. Airlines continue to develop
merchandizing and retail strategies to maximize the revenue opportunity.
It is this retail challenge that our product – more than any other - is designed to enable. The growing
list of market-leading airlines recognising that TDP delivers unrivalled retail capabilities is a testament
to our product and our people.
While challenges still remain, as evidenced by the cessation of operations by Spanair in January 2012,
our new business pipeline remains strong and we are confident that our business will continue on a
solid growth trajectory and deliver further significant growth in EBITDA, cash generation and
Enterprise Value through 2012. Our 2011 Datalex Annual Report is included in the attached PDF and
is also available at;
http://www.datalex.com/wp-content/uploads/2012/03/Datalex Annual Report 2011.pdf
For more information, contact:
Analyst/Investor Enquiries:
Press Enquiries:
David Kennedy
Ornagh Hoban
Chief Financial Officer
VP of Marketing and Strategy
+353 1 806 3500
+353 1 806 3574
david.kennedy@datalex.com
ornagh.hoban@datalex.com
About Datalex
Datalex is a leading provider of travel distribution software and solutions which enable global travel industry suppliers and
distributors deliver increased content and choice to their customers across multiple sales channels, while enabling
significant reductions in distribution costs. Datalex’s customers represent the elite of the travel industry and include Air
China, United Airlines, Delta Airlines, Frontier Airlines, Aer Lingus, STA Travel, South African Airways, and Copa Airlines.
Founded in 1985, the company is headquartered in Dublin, Ireland, and maintains offices across Europe, the USA and AsiaPacific. Datalex is a publicly held company traded on the Irish Stock Exchange (symbol: DLE). For more information, please
visit the company’s web site at www.datalex.com
This press release contains certain forward-looking statements. Actual results may differ materially from those projected or
implied in such forward-looking statements. Such forward-looking information involves risks and uncertainties that could
significantly affect expected results.
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