Exhibit 99.1

 

—   Travelport Announces Fourth Quarter and Full Year 2007 Results   —

 

Fourth Quarter Highlights

 

·                  Net Revenue of $645 million, representing 11% growth over the fourth quarter in 2006

                        Adjusted Net Revenue of $581 million, representing a (1%) decline compared to the fourth quarter of 2006

·                  EBITDA loss of ($153) million due to several one-time exceptional costs

                       Adjusted EBITDA of $132 million, representing 8% growth over the fourth quarter of 2006

 

Full Year 2007 Highlights

 

·                  Net Revenue of $2.8 billion and EBITDA of $234 million

·                  Adjusted Net Revenue of $1.9 billion, 4% growth, and adjusted EBITDA of $496 million, 25% growth, excluding Worldspan and Orbitz Worldwide

·                  Adjusted Net Revenue of $2.6 billion and adjusted EBITDA of $688 million, including Worldspan and excluding Orbitz Worldwide

·                  Generated $204 million in cash from operations excluding Orbitz Worldwide

 

Re-engineering Cost Savings and Worldspan Synergy Highlights

 

·                  Re-engineering of the Travelport business on target, actions taken to achieve $167 million of annual run rate savings

·                  Actions taken to achieve annual run rate synergies of $34 million in Worldspan synergies out of a target of $150 million

 

NEW YORK, NY, March 6, 2008

  — Travelport Limited, the parent company of the Travelport group of companies, today announced its financial results for the fourth quarter and full year ended December 31, 2007.  Travelport recognized net revenue of $645 million and an EBITDA loss of ($153) million in the fourth quarter of 2007, which included, among other items, the one-time expense and acceleration of vesting of restricted equity and other stock incentive plans. Adjusted net revenue in the fourth quarter was $581 million after adjusting for the deconsolidation of Orbitz Worldwide as of October 31, 2007. Adjusted EBITDA was $132 million, representing growth of 8% over the same period last year, largely due to the beneficial impact of the Travelport

re-engineering program and growth at GTA.

 

On August 21, 2007, we completed the acquisition of Worldspan Technologies, Inc. On July 25, 2007, Orbitz Worldwide completed an initial public offering of approximately 41% of its outstanding shares of common stock on the New York Stock Exchange.  On October 31, 2007, the Company reduced its holding in Orbitz Worldwide by a further 11% - to 48% - and has presented its remaining holding as an equity method investment with effect from that date.  No shares of Orbitz Worldwide were sold.  The adjusted results below show the performance of the ongoing businesses as if Worldspan had been acquired on, and Orbitz Worldwide deconsolidated with effect from, January 1, 2006.  We also show our adjusted results excluding Worldspan entirely.  A description of the adjusted results are included later in this press release, together with a reconciliation to our GAAP results.

 

Travelport Consolidated

($ in millions)

 

 

 

4Q 2006

 

4Q 2007

 

Change*

 

% Change*

 

Net Revenue (1) (4)

 

$

583

 

$

645

 

$

62

 

11

%

Adjusted Net Revenue (3) (4)

 

$

588

 

$

581

 

$

(7

)

-1

%

EBITDA (1) (4)

 

$

62

 

$

(153

)

$

(215

)

 

Adjusted EBITDA (3) (4)

 

$

122

 

$

132

 

$

10

 

8

%

Adjusted EBITDA Margin%

 

20.7

%

22.7

%

197 bps

 

10

%

 

 

 

FY 2006

 

FY 2007

 

Change*

 

% Change*

 

Net Revenue (1) (2) (4)

 

$

2,516

 

$

2,780

 

$

264

 

10

%

Adjusted Net Revenue (3) (4)

 

$

2,739

 

$

2,617

 

$

(122

)

-4

%

EBITDA (1) (2) (4)

 

$

(2,042

)

$

234

 

$

2,276

 

 

Adjusted EBITDA (3) (4)

 

$

662

 

$

688

 

$

26

 

4

%

Adjusted EBITDA Margin%

 

24.2

%

26.3

%

212 bps

 

9

%

 


The following information was filed by Travelport Ltd (TVPL) on Thursday, March 6, 2008 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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