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Performance and Innovation
-Fourth Quarter and Full Year 2013 Results-
Atlanta, GA, February 27, 2014 Travelport Limited, a leading distribution services and e-commerce provider for the global travel industry, today announces its financial results for the fourth quarter and full year ended December 31, 2013.
Commenting on developments, Gordon Wilson, President and CEO of Travelport, said:
I am delighted to report a successful growth year for Travelport, with key financial performance metrics up 5% with positive innovation and traction across all aspects of the business. We maintain forward momentum in transforming our core air business and growing our Beyond Air initiatives of payments, hospitality and advertising. I am also pleased to note that this momentum has continued into the early part of the current year.
|||5% growth in Net Revenue and 5% growth in Adjusted EBITDA for the full year*|
|||New airline merchandising platform attracting low cost airline participation and wider network carrier content|
|||Double digit growth in Beyond Air initiatives including advertising, hospitality and payments|
|||Deployed new Point of Sale upgrades to over 75% of our targeted customer base|
|||First Quarter 2014 developments include:|
|||New long-term agreement with Orbitz Worldwide|
|||Renewed and extended British Airways, Iberia, Iberia Express and easyJet contracts|
|||Deleveraging debt-for-equity exchange of $135 million, further improving our capital structure|
|*||Excluding the loss of the Master Services Agreement (MSA) with United Airlines|
Fourth Quarter 2013
|(in $ millions)||Q4 2013||Q4 2012||$ Change||% Change|
Operating Income (Loss)
Travelports Net Revenue of $480 million for the fourth quarter of 2013 was $23 million (5%) higher than the fourth quarter of 2012, and Adjusted EBITDA of $109 million was $6 million (4%) higher than the fourth quarter of 2012.
Travelport RevPas increased 2% to $5.58.
The following information was filed by Travelport Ltd (TVPL) on Thursday, February 27, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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