Exhibit 99.1

Picture 1

Travelport Worldwide Limited Reports Fourth Quarter and Full Year 2018 Results

 

LANGLEY, U.K., February 22, 2019

— Travelport Worldwide Limited (NYSE: TVPT) today announced its financial results for the fourth quarter and full year ended December 31, 2018.

 

Key Points (for full year 2018 unless stated otherwise)

 

Net revenue increased 4% to $2,551 million, including Travel Commerce Platform revenue growth of 5% to $2,454 million

Net income decreased 46% to $75 million; Adjusted EBITDA was flat at $590 million

Income per share (diluted) decreased 50% to $0.57; Adjusted Income per Share (diluted) increased 1% to $1.46

Payment Solutions (eNett) net revenue grew 63% to $315 million

Net cash provided by operating activities increased 15% to $364 million; Free Cash Flow increased 10% to $220 million

Fourth quarter net revenue increased 3% to $589 million; net income decreased 93% to $3 million; and Adjusted EBITDA increased 1% to $140 million

 

Gordon Wilson, President and CEO of Travelport, commented:

 

“I am pleased to report that we ended the year with all of our full year key financial performance measures either in line with or better than management expectations and guidance.  We also made significant operational progress across our four customer priorities of delivering superior choice, performance, experiences and intelligence in travel and payments.

 

In December, we announced we entered into a definitive merger agreement to be acquired by affiliates of Siris Capital Group, LLC and Evergreen Coast Capital Corp.  We continue to work towards finalizing the merger, which currently is expected to close in the first half of this year.”

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Year Ended

 

 

 

December 31,

 

December 31,

 

(in $ thousands, except per share amounts)

    

2018

    

2017

    

Change

    

2018

    

2017

    

Change

 

Net revenue

 

 

588,633

 

 

573,567

 

 

%  

 

2,551,064

 

 

2,447,279

 

%

Operating income

 

 

52,822

 

 

53,277

 

 

(1)

%  

 

216,894

 

 

289,274

 

(25)

%

Net income

 

 

3,067

 

 

45,370

 

 

(93)

%  

 

75,173

 

 

140,280

 

(46)

%

Income per share – diluted

 

$

0.02

 

$

0.37

 

 

(95)

%  

$

0.57

 

$

1.13

 

(50)

%

Adjusted EBITDA

 

 

139,704

 

 

138,017

 

 

%  

 

590,117

 

 

590,013

 

— 

 

Adjusted Operating Income

 

 

81,732

 

 

83,141

 

 

(2)

%  

 

349,943

 

 

351,606

 

— 

 

Adjusted Net Income

 

 

39,719

 

 

44,140

 

 

(10)

%  

 

186,625

 

 

181,174

 

%

Adjusted Income per Share – diluted

 

$

0.31

 

$

0.35

 

 

(11)

%  

$

1.46

 

$

1.44

 

%

Net cash provided by operating activities

 

 

78,929

 

 

43,320

 

 

82 

%  

 

364,364

 

 

317,662

 

15

%

Free Cash Flow

 

 

43,532

 

 

4,998

 

 

 

*  

 

219,731

 

 

200,148

 

10 

%

Cash dividend per share

 

$

0.075

 

$

0.075

 

 

—    

 

$

0.300

 

$

0.300

 

— 

 


The following information was filed by Travelport Worldwide Ltd (TVPT) on Friday, February 22, 2019 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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