Latest news with #Stellex
RTÉ News
30-07-2025
- Business
- RTÉ News
Datalex announces intention to delist from Euronext Growth index
Airline e-commerce platform Datalex said today it plans to seek shareholder approval for a transition to private ownership by delisting its shares from the Euronext Growth index. Datalex said that after conducting a review of the benefits and drawbacks to its listing on Euronext Growth, its board decided that a move to private ownership is in the best interests of the company and its shareholders. In reaching its conclusion Datalex said its long-term vision and requirements of the business differ from those in 2000 when the company first listed. Datalex also issued a trading update today for the six months to the end of June, which showed further revenue growth on its Stellex platform, a "step change" in gross profit and a return to positive foreign exchange adjusted EBITDA. Revenues for the six month period rose by 9% to $14.5m from $13.2m the same time last year, with revenues from its Stellex platform soaring by 188% to $4m from $1.4m. Datalex said its gross profit jumped by 68% to $6.4m from $3.8m, while its loss after tax narrowed to $2.3m from $3.7m the same time last year. The company said that trading for the full year remains in line with expectations, and it is confident in achieving its FY2025 targets. "With strong progress in H1 2025 and continued execution of our growth strategy, Datalex is well-positioned to deliver sustainable revenue growth and return to full-year EBITDA profitability," it added. Datalex also said today that it intends to raise $6m in additional capital, via a debt raise, to facilitate its next growth phase and to best position Datalex to maximise its long-term strategic objectives. Jonathan Rockett, Datalex's CEO, said the compay achieved a "strong" financial performance in the first half of 2025, with trading for the full year continuing in line with expectations. "We have delivered several important milestones in the first half of 2025, most significantly the continued expansion of Stellex capabilities into our airline customers and also the launch of our latest product, DLX Pay. We are pleased to have signed Air Transat as the inaugural DLX Pay customer, with a go-live planned for later this year," he said. "In parallel, we are announcing a €6m debt facility to support our medium-term strategic priorities and our investment in product innovation. We expect this capital raise to close in August 2025," he added. He also said that delisting from Euronext Growth will better position the company to focus on strategic execution, accelerate innovation, and unlock greater long-term value for its customers and shareholders. "The move aligns with our aim to be a true catalyst for value-creating change for our airline partners and enhance Datalex's position at the top table of airline technology vendors globally," Mr Rockett said. "Our focus remains clear - create value for our airlines, grow Stellex platform revenues and return to sustained EBITDA profitability. I am pleased to report that while we have a lot to do to achieve our ambitions, we are on track and our efforts are now starting to translate to materially improved financial performance," he added.
Business Wire
30-06-2025
- Business
- Business Wire
Stellex to Acquire Air and Noise Filtration Technology Business from Dürr Group
NEW YORK & LONDON--(BUSINESS WIRE)--Stellex Capital Management ('Stellex'), a New York-based private equity firm with more than $5 billion in assets under management, announced today that it has entered into an agreement to acquire the air and noise filtration technology business of Dürr Group, a German mechanical and plant engineering firm specializing in automation, digitalization, and energy efficiency technologies. The transaction is subject to standard approvals and expected to close in the fourth quarter of 2025. The division of the Dürr Group encompasses the design and manufacture of exhaust air purification technology and sound insulation systems, and as part of the transaction, will become an independent entity within Stellex's portfolio of industrial technology companies. The Dürr Group previously announced in June 2024 its intention to explore strategic options for the division, generating sales upwards of €407 million in 2024. Karthik Achar, Partner at Stellex, said, 'We look forward to becoming the next steward of Dürr's Clean Technology Systems Environmental division and we welcome the company into our investment portfolio. We view the division as a global leader in environmental filtration and pollution control solutions - critical technologies that serve a wide range of industrial and adjacent markets. Its long-standing customer relationships are a testament to the company's engineering excellence. We are eager to partner with the management team and its employees in an effort to shape the next phase of its growth.' Dr. Sebastian Baumann, Head of the Clean Technology Systems Environmental division, added, 'We can look back on a successful development in the environmental technology business and are convinced that we can develop our potential even better as an independent company. With Stellex at our side, new opportunities for growth and innovation are opening up, both in our established business areas and in pioneering technology areas such as carbon capture and heat storage.' About Stellex Capital Management LLC With offices in New York, London, Pittsburgh and Detroit, Stellex Capital is a private equity firm with over $5 billion in AUM. Stellex seeks to identify and deploy capital in opportunities that stand to benefit from its operationally focused and hands-on approach to investing. Portfolio companies are supported by Stellex's industry knowledge, operating capabilities, network of senior executives, strategic insights, and access to capital. Sectors of particular focus include aerospace, defense & government services, transportation & logistics, manufacturing, real economy & business services, food processing and tech-enabled services. Additional information may be found at About the Dürr Group The Dürr Group is one of the world's leading mechanical and plant engineering firms with particular expertise in the technology fields of automation, digitalization, and energy efficiency. Its products, systems, and services enable highly efficient and sustainable manufacturing processes – mainly in the automotive industry and for producers of furniture and timber houses, but also in sectors such as the chemical and pharmaceutical industries, medical devices, electrical engineering, and battery production. In 2024, the company generated sales of €4.7 billion. The Dürr Group has around 18,400 employees and 139 business locations in 33 countries. As of January 1, 2025, the former divisions Paint and Final Assembly Systems and Application Technology were merged to form the new Automotive division. Since then, the Dürr Group has been operating in the market with four divisions: Automotive: painting technology, final assembly, testing and filling technology Industrial Automation: automated assembly and test systems for automotive components, medical devices, and consumer goods as well as balancing technology solutions and coating systems for battery electrodes Woodworking: machinery and equipment for the woodworking industry Clean Technology Systems Environmental: air pollution control and noise
Travel Daily News
16-05-2025
- Business
- Travel Daily News
Datalex reports positive 2024, raising 25m. euros in equity
Datalex published its 2024 report highlighting Stellex platform launches, equity raise, and new DLX Pay product for airline e-commerce growth in 2025. DUBLIN, IRELAND – Datalex plc, a market leader in airline e-commerce solutions, announces it has published its Annual Report and Financial Statements for the year ended 31 December 2024 (FY 2024). Key Highlights Launched Stellex; Datalex's next-generation Offer and Order Management platform with easyJet and Air Macau now live on Stellex. and now live on Stellex. Successfully migrated Air China and Edelweiss on to the Stellex platform, who will benefit from the latest products enhancements. and on to the Stellex platform, who will benefit from the latest products enhancements. Went live with Air Macau with Stellex Offer Management in September 2024. Continued to deliver multiple projects and activations for our customers with a focus on growth for these airlines. Invested in developing modular standalone products for both our existing customers and new airline customers. As a result of this, the Group was in a position to announce in April 2025 the launch of DLX Pay, which is planned to go live with Air Transat later in 2025. DLX Pay is a payment platform built exclusively with airline challenges in mind. Datalex believe there is a huge opportunity for airlines to unlock value in this space, and the company is well positioned to help airlines achieve this goal. In 2024, the company continued to invest in its Pricing AI product. In 2025, they have added capabilities that enable airlines to leverage their own AI price prediction models, in addition to leveraging Datalex Pricing AI models. Raised 25 million euros in equity, which enabled the Group to fully repay its debt facility. Commenting the announcement, Jonathan Rockett, Datalex CEO, said: 'We achieved several positive developments in 2024, including the launch of our Offer and Order solution, Stellex, and the successful activation and migration of four airlines to this new platform. Additionally, we raised 25 million euros in equity to strengthen our balance sheet. Whilst it was disappointing to see revenue decline, after excluding non-recurring revenue, the underlying performance and momentum in platform revenue is promising. The financial performance in 2024 does not reflect the progress made, and I am confident that the actions we have taken will deliver stronger financial performance in 2025. 2025 has kicked off strongly with the launch of a new modular standalone product, DLX Pay, which is planned to go-live with our launch customer, Air Transat, later this year. Our focus for 2025 is to drive strong platform revenue growth, improve margins, and achieve EBITDA profitability.' Key Financial Highlights 2024 (US$'M) 2023 (US$'M) YoY Growth (US$'M) YoY Growth (%) Revenue 27.5 28.9 (1.4) (5%) Platform revenue 16.1 12.9 3.2 24% Services revenue 10.2 14.1 (3.9) (27%) Consultancy revenue 1.0 0.9 0.1 19% Other revenue 0.1 1.0 (0.9) (85%) Gross Profit 10.2 9.7 0.5 5% Gross Margin 37% 34% – 3% Adjusted EBITDA(1) (3.1) (2.9) (0.2) (7%) Loss after tax (10.2) (9.0) (1.2) (13%) Cash at 31 December 6.4 5.8 0.6 10% (1) Adjusted EBITDA is defined as earnings from operations before (i) interest income and interest expense, (ii) tax expense, (iii) depreciation and amortisation expense, (iv) share-based payments cost and (v) exceptional items Revenue for FY2024 was US$27.5 million, a decrease of 5% y/y (2023: US$28.9m). This decrease is primarily due to a number of customer contracts ending in 2023, creating a drag on year-on-year growth given this revenue did not recur in 2024. Platform revenue increased by 24% to US$16.1 million (2023: US$12.9 million), driven by ongoing customer activations and the transition of customers to a SaaS licence and transaction fee model. Services revenue decreased by 27% to US$10.2 million (2023: US$14.1 million), primarily due to the cessation of contracts with Scandinavian Airlines and Virgin Australia in 2023. and in 2023. Consultancy revenue increased by 19% to US$1.0 million (2023: US$0.9 million). Other revenue of US$0.1 million (2023: US$1.0 million), reflected the receipt of a previously written-off customer receivable. The prior year balance of US$1.0m is mainly attributable to one off customer termination fees that did not recur in 2024. Gross profit of US$10.2m grew 5% y/y (2023: US$9.7m) with gross profit margin of 37% up 3% (2023: 34%), reflecting a shift in revenue mix to higher margin platform revenues. It is a strategic priority to grow platform revenue to enhance long-term profitability. Total operating expenses increased by 5% to US$13.3 million (2023: US$12.6 million), mainly due to higher insurance and IT expenses because of inflationary pressures. Adjusted EBITDA loss for the Group was US$3.1 million in 2024 (2023: US$2.9 million). The modest year on year increase is due to higher operating expenses offsetting gross profit growth. Loss after tax for the Group for 2024 was US$10.2 million (2023: US$9.0 million), primarily due to increased interest and share-based payment costs. Cash as at 31 December 2024 totalled US$6.4 million (2023: US$5.8 million). Proceeds from the 25 million euros equity raise and strict cash management offset operational and financing outflows. Balance Sheet Developments In September 2024, Datalex successfully raised 25 million euros (US$27.9 million) in equity, enabling full repayment of its debt facility and providing working capital for product investment and growth opportunities. At the date of repayment, 30 September 2024, the facility comprised of a principal of 15 million euros (US$17.0 million) and accrued interest of 4.1 million euros (US$4.4 million). The Group intends to raise additional capital in 2025. However, the exact amount and timing will depend on the pace of investment in the Company's product portfolio, as well as the funding of working capital to support the implementation of new revenue opportunities. Subsequent to year end, the Group received a letter of support from its former lender Tireragh Limited, confirming a willingness to provide a backstop loan facility of 5 million euros (US$5.4 million) if an equity capital raise is not completed by 30 June 2025. Outlook Actions taken in 2024 to strengthen Datalex's foundations and competitive position have laid the groundwork for stronger financial performance in 2025 and beyond. Datalex enters 2025 with a solid recurring revenue base and strengthened balance sheet having repaid the Group's loan facility. Our financial ambition and priorities will be focused on growing total revenue year on year, continuing to deliver strong platform revenue growth, expanding gross profit margins, and restoring the business to EBITDA profitability. A key focus will also be investing in our Stellex anchor solution, advancing Stellex + opportunities, and raising capital to support future growth.
RTÉ News
15-05-2025
- Business
- RTÉ News
Datalex posts lower revenues and wider losses for 2024
Airline e-commerce platform Datalex has reported lower revenues and wider losses for the year to the end of December but said it had achieved several positive developments during the year, including the migration of four airlines to its new "Stellex" platform. Datalex said its annual revenue dipped by 5% to $27.5m from $28.9m the previous year while its loss after tax widened by 13% to $10.2m from $9m. It said the fall in revenues was mainly due to a number of customer contracts ending in 2023, creating a drag on year-on-year growth as this revenue did not recur in 2024. Today's results shows that Datalex's "Platform"revenue increased by 24% to $16.1m from $12.9m, driven by ongoing customer activations and the transition of customers to a SaaS licence and transaction fee model. But its "Services" revenue decreased by 27% to $10.2m from $14.1m, after the cessation of contracts with Scandinavian Airlines and Virgin Australia in 2023. The company said its total operating expenses increased by 5% to $13.3m on the back of higher insurance and IT expenses because of inflationary pressures. Looking ahead, Datalex said it had entered 2025 with a solid recurring revenue base and strengthened balance sheet having repaid its loan facility. "Our financial ambition and priorities will be focused on growing total revenue year on year, continuing to deliver strong platform revenue growth, expanding gross profit margins, and restoring the business to EBITDA profitability," it added. Jonathan Rockett, Datalex's CEO, said the company achieved several positive developments in 2024, including the launch of its Offer and Order solution, Stellex, and the successful activation and migration of four airlines to this new platform. He also said the company raised €25m in equity to strengthen it balance sheet. "Whilst it was disappointing to see revenue decline, after excluding non-recurring revenue, the underlying performance and momentum in platform revenue is promising. The financial performance in 2024 does not reflect the progress made, and I am confident that the actions we have taken will deliver stronger financial performance in 2025," he said. "2025 has kicked off strongly with the launch of a new modular standalone product, DLX Pay, which is planned to go-live with our launch customer, Air Transat, later this year," the CEO stated. "Our focus for 2025 is to drive strong platform revenue growth, improve margins, and achieve EBITDA profitability," he added.
