UK-based managed services provider Tialis Essential IT’s FY22 results describe £2m in adj EBITDA (FY21: £3.1m) from revenue of £14.5m and year-end net debt of £3.2m, demonstrating the benefits of a busy four-year period of restructuring across the whole Group. Improved working capital led to positive £0.7m FCF, which, combined with the November loan note conversion, reduced net debt to £3.2m from £16.9m in FY21, equivalent to 1.7x FY22 net debt/EBITDA. 85% revenue visibility of £22m in FY23E is ....
