Morning, everybody, and thank you for joining us this morning as we present our 2021 results. Very glad to have you all on. This morning on the call you have myself, Neil McLoughlin, General Counsel and Company Secretary at Datalex, along with Sean Corkery, our CEO, and Dan Creedon, our CFO, who joined us in January this year. Very glad to see you all this morning. In addition to the results, you would have seen that we've also announced that our AGM will be held on the 26th of May. Hopefully this year as we come out of COVID, we really look forward to welcoming you in person, and we hope to see as many as possible of you at the AGM in May as well. Before I hand over to Sean to take you through the results, just to note that the presentation this morning does contain forward-looking statements, and you should bear that in mind and see the disclaimer that we put on the screen. Thank you. Sean. Okay. Good morning, everyone, and thanks for attending. It's much appreciated. As Neil said, hopefully we're gonna see you all in May at the AGM. I think that would be fantastic. It's long overdue. The other thing I wanna say, it's great to have Dan Creedon here this morning as our new CFO, and you'll be hearing from Dan in a minute or two. We're presenting this morning our 2021 results. I'm pretty happy with them, and I'll tell you why. I think it was a very, very difficult year. It was obviously a year that started with Delta on the COVID virus and ended up with Omicron. It was definitely a more difficult year than 2020, where at least there was three months free from the virus. 2021 was also more difficult than that. The impact on the virus was more severe across a number of geographies, particularly in our case in China, which was less impacted in 2020. A very difficult year, I would say. In that context, I suppose, look, I'm happy with the fact that we grew our EBITDA and, you know, that reflects on our cost scaling, which we've proved in the past we can do and we continue to do. I'm very happy with our cash management, which included obviously raising funding during the year, but also the day-to-day management, including, by the way, the ongoing on-terms payments by our customers is all part of, you know, performing and, you know, the accreditation our customers give us. Very happy with the way we retained and helped our existing customers during a very difficult year in the industry and a lot of our work was around you know adding software that helped them to deal with the change particularly around you know rebooking cancellations and giving them more control over that through products like Digital Configurator, et cetera. During the year actually we did a very good job in supporting our customers and our NPS score you know is the highest ever in the history of the company over 15 years that we've been gathering NPS data in terms of customer satisfaction. Also within that survey, 97% of our customers said when asked, were we a real progressive and beneficial partners to them during COVID, 97% came back with a positive affirmation of that. Finally, I'm very happy with the pipeline that we built up during the year of future potential customer wins. Not only did we increase that pipeline, but we've moved a quantum towards the latter end of that process, which is in the final conversion process. That takes time, but the progression is very solid. We did that during the year of 2021. It obviously reflects the industry's view that digital is the way forward. It's one of the top strategic areas for them to invest in as they recover their business. Let me stop there and we get into some of the specifics with that. Thank you, Sean. This morning, as you know, we released our annual report, and that deals in great detail with our financial performance. This morning we pulled out some key highlights. Starting with revenue. Our revenue came in at EUR 25.5 million. That was down 9% versus 2020. We'll talk a bit more about that. Our gross margin came in at 48% compared to 31%. Slide's gone. Total operating costs came in at EUR 27.4 million. That was down 7% versus 2020, roughly in line with the movement in revenue. Our adjusted EBITDA was up on 2020 by EUR 1 million to EUR 2.4 million. As Sean said, we're very pleased with that. More work to do, but a good effort given the revenue decline. Our net cash position improved significantly. 2021 was a year of immense progress in terms of the balance sheet. We're pleased about that. We made a loss after tax of EUR 4.9 million. That was better than last year, EUR 6.5 million. Of that EUR 4.9 million, about EUR 4.4 million related to financing. We just fell short of break even in terms of operating profit. Going in the right direction, but more work to do and that's what we're working on. Okay, if we drill down a bit in terms of the revenue performance, you know, it was a year, a full year of COVID, as Sean talked about. You know, that compared to the prior year where essentially about 9 months was impacted. We also had, you know, some conservatism from our customers. Airlines had a huge amount to do, as you know. You know, they were not in a position to move forward with all the projects that they had planned. We had the tail end of some customer terminations that had been announced in 2018 and 2019. At the same time, I think it's fair to say that our model has proven to be resilient. Our balance in terms of fixed and variable elements ensured that the fall was less than it otherwise would have been. I'd also point out that we continue to have strong annual recurring revenues, you know, exiting the year. EBITDA, I spoke about that up from EUR 1.4 million-EUR 2.4 million. You know, I'll talk a minute about our managing our cost base, but, we're very pleased that we were able to push EBITDA forward given the year that we had. I spoke about gross margin, and returning to 48, the regional 48% last year. I'd like to spend a moment and just comment on total operating costs and give you a view of, you know, how we look at that. Our operating costs were down by 7% year-on-year. That compares to 9% for sales. We were very anxious to strike the correct balance here because we wanted to ensure we did 3 things which we feel are very important. Number 1, continue to invest in our products and our capabilities. We have, as Sean will talk about in a minute, exciting opportunities around pricing AI, and other areas. We wanted to continue to invest in those. Secondly, we wanted to continue to work on business development, on sales. Our team has been out in the market having extensive conversations and building the pipeline, and hopefully that will crystallize into wins as we go forward, just as it did with Virgin Australia. Then thirdly, and very importantly, we wanted to ensure that we, our infrastructure to support our existing customers remains strong and that we have room then to add customers effectively as we go forward. That's a balance that we struck when we looked at our operating cost base, and we'll continue to look at that balance as we go forward. Lastly then, let me talk about the successful capital raise, helped us move our cash position on the left-hand side, as you'll see, from EUR 3 million up to EUR 8.3 million. It also helped us to essentially, you know, eliminate our debt other than some small property leasing debt classifications. That was an outstanding effort. I'd like to, you know, record our thanks to our shareholders for their support in 2021 and going forward. I think this balance sheet movement puts Datalex in a much stronger position, and is a platform that we can build on. I'm gonna hand back to Sean now, but before I do, let me take this opportunity to thank the Datalex team, and the employees for all their outstanding efforts. These financial results would not have happened without all of their efforts. Indeed, let me thank the Datalex board for their support as well. Sean. Yeah. Just to add to that, I mean, the annual report, I think, if I may say so myself, is a very detailed, very good document. It covers a lot of our strategy. It's definitely worth the read. We put some significant time into it. On that, I suppose, you know, moving on to the future, you know, we're happy with what we've done for our existing customers. I talked about the NPS score. You know, we did a lot of development for them during the year. We also extended our NDC product, which is a distributor product, into two of our existing customers. There's also some projects that went into moratorium during the COVID period that are now starting to come back out in terms of activity, which is good. We also, you know, and we've talked about this before, very conscious that we now need to scale the business. COVID has had an impact, in terms of, you know, sizing of the business. We've managed that to the best that we can, finding that balance that Dan talked about in terms of cost reduction, but also an eye on investment and, capacity and capability to take on, new activity. You know, on that, obviously the win, with Virgin Australia was a very big event, not only in terms of a win, in the COVID period when airlines are not making decisions, but also the fact that they're taking four of our products. The good news is that we're very actively engaged. Just came off the phone from a weekly call with the customer in Brisbane. We've got our team on the ground. They've been there since the middle of December. A lot of expats out there, and the program is going very well. That airline, you can read it yourself, you know, has very strong ambitions. Will be making some statements themselves in terms of their growth, which obviously augurs well in terms of some of the work that we're doing for them. Critical to our strategy is our products, and we just continue to invest in them in terms of our five key product areas. I suppose, interestingly, this year or in 2021, very strategically, we developed this AI pricing product. Previously, we referred to it as dynamic pricing, now more specifically AI pricing. With, you know, it's the use of AI and analytics to help airlines to predict the optimum pricing and load factors that basically make routes more profitable. We did a pilot with one very, very large airline, and that's now moved into a formal RFP process, which is now being submitted in terms of our submission for that. We're very confident that that will go to the next level. That allows the airline to use our tool, as I said, to optimize routes in terms of revenue gain and to obviously modify those routes that are depreciating in terms of revenue and margin. As important is the fact that it brings us into a new sector within the airline industry. It allows us to now talk to a new clientele, basically the people that manage revenue and the commercial side of the business. Prior to this, we've been dealing exclusively with the IT departments, more or less, in the airline industry in terms of our traditional pricing and booking engine and what we've been offering there. Finally, we have a very strong pipeline. I know you've heard that before. The important thing for me is the question of, is the pipeline progressing? If you talk about your standard, you know, pipeline analysis of kind of five stages from initiation to closure of sale, the progression into the front end of that pipeline has continued to increase in double-digit growth terms, and the movement of it towards the final aspect of the closure has also moved very, very strongly. We've got quite a few potential customers in that final stage. We're not gonna be announcing anything this morning on that. These things take time. They take patience. They take contractual negotiation and commercial negotiation. You know, we're not gonna bias any conversation by rushing that, but we're confident of our ability to convert some of them, if not all of them. Moving on then, right, in terms of the outlook, I suppose, right? You know, 2022 within the industry, you know, kind of started with a paradigm on the one sense in terms of that numbers are going up, as you can see here. 2022 is definitely gonna be better as a percentage of traffic versus 2019. These are the latest IATA numbers that came out at the end of March, 83 versus 47. We're definitely seeing that. The paradox is that, it's not happening everywhere. It depends where you are, what kind of airline you are, what routes you're picking. Domestic is obviously coming back stronger than international. Asia is an issue, continues to be an issue. China continues to be an issue for us in terms of lockdowns in Beijing and Shanghai currently, and the expectation of when they will open back up again. The medium term is very positive. The short term has a bit of a paradox in it, and we're just gonna have to bear with it. Having said that, a number of our customers have shown very strong traffic improvement, particularly any ones that are related to the leisure industry. We've seen very strong pickup. We've obviously seen strong pickup in domestic America. Also, airlines are suffering because of this surge in demand with some operational issues. You can see some of that taking some of that capacity away in the short term. You've seen various announcements on that. Look, I think we have to be cautious in the short term. We remain very, very confident in our ability, our products, our process in terms of delivery. The fundamental change in airlines towards digital. Read any, you know, statement from any CEO in the airline industry. I can guarantee you the digital transformation will be in the top two, if not top three. Strategic goals that they have in terms of turning around and getting the airline back again. I think we should be very confident there. I think we should be hopeful rather than confident that the world will settle down both in terms of, geopolitical issues and the kind of tail of COVID, particularly as it relates to Asia. Therefore, those decisions that are pending to be made in the industry, particularly as they relate to digital investment, will actually be made. I think once those decisions are made, we are confident that we'll be in the finish line with a number of those decisions. Just a reminder that, you know, 37% of airlines are still doing it themselves. There's still a greenfield potential here for us. We see, as we talked about, very strong opportunity in the new sector around revenue management through pricing AI. It should be said that during 2022, we're going to invest in both our product but also in our customer relationships within the SaaS model. As we win customers, we will be investing on making sure that the delivery happens on time, that the products are plug-and-play in terms of their quality and their operability. You see some investment initially, which obviously in the software-as-a-service model gets paid back over the period of the contract very beneficially through our, you know, our pricing in terms of price per transaction. That's it, this morning. That's where I would leave it. 2021, I'm glad to see the back of it. I think in the context we did well. We need to scale the business. We're very conscious of that, on the revenue side. We've done it on the cost side. We're, as I said, very optimistic about our opportunities ahead of us. We're hopeful rather than extremely confident about the world settling down. We just have to bear with that in the short term. Medium term is a lot more promising. With that, I want to thank you for your time this morning, for your interest, for your investment, for your followership, for your ongoing support of what we do. It's very much appreciated. Thank you. Thanks, everybody.
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