Exhibit 99.1

 

 

 

Travelport Worldwide Limited Reports Fourth Quarter and Full Year 2017 Results

 

LANGLEY, U.K., February 20, 2018

— Travelport Worldwide Limited (NYSE: TVPT) today announced its financial results for the fourth quarter and full year ended December 31, 2017.

 

Highlights (for full year 2017 unless stated otherwise)

·Net revenue increased 4% to $2,447 million, including Travel Commerce Platform revenue growth of 5% to $2,341 million
·Net income increased $125 million to $140 million; Adjusted EBITDA increased 3% to $590 million
·Income per share (diluted) increased $1.00 to $1.13; Adjusted Income per Share (diluted) increased 17% to $1.44
·Net cash provided by operating activities increased 6% to $318 million; Free Cash Flow increased 4% to $200 million
·Fourth quarter net revenue increased 5%; net income increased $54 million; and Adjusted EBITDA increased 6%
·2018 guidance issued, including net revenue growth expected to be 4% to 6%, Adjusted EBITDA growth (1)% to 3% and Free Cash Flow growth 5% to 15%

 

Gordon Wilson, President and CEO of Travelport, commented:

 

“In 2017, Travelport again delivered on or exceeded guidance on all financial growth targets. In line with our strategy, we achieved a strong performance in Asia and Latin America where our air share grew as we won new business. In addition, Beyond Air revenue grew by 11% in 2017 as we continued to benefit from investment in growing our digital solutions, including mobile apps, hospitality and commercial payments.

 

Our ongoing focus and investments in our platform saw a record level of new business signed and onboarded in 2017, with more to come onstream progressively during 2018, more than offsetting the loss of one travel agency account in the Pacific. We continue to lead our industry, being the first global distribution system to be certified at the highest level by IATA for its NDC Application Programming Interface as an Aggregator, and we have advanced further ahead of our peers with over 250 airlines now able to show their full merchandised value proposition to users of the Travelport platform. We are, therefore, well positioned for good underlying growth in 2018, particularly in the second half of the year. Travelport has a proven track record for strong cash generation that supports sustainable and profitable growth over the longer term, while presenting options for higher returns to our shareholders in line with our capital allocation policy.

 

   Three months ended   Year ended 
   December 31,   December 31, 
(in $ thousands, except per share amounts)  2017   2016   Change   2017   2016   Change 
Net revenue   573,567    545,432    5%    2,447,279    2,351,356    4% 
Operating income   52,430    20,750    153%    285,889    200,613    43% 
Net income/(loss)   45,370    (9,110)   *    140,280    15,046    * 
Income/(loss) per share – diluted  $0.37   $(0.05)   *   $1.13   $0.13    * 
Adjusted EBITDA   138,017    130,764    6%    590,013    574,349    3% 
Adjusted Operating Income   83,141    73,881    13%    351,606    340,898    3% 
Adjusted Net Income   44,140    28,257    56%    181,174    154,494    17% 
Adjusted Income per Share – diluted  $0.35   $0.23    51%   $1.44   $1.23    17% 
Net cash provided by operating activities   43,320    85,161    (49)%   317,662    299,019    6% 
Free Cash Flow   4,998    47,831    (90)%   200,148    191,559    4% 
Cash dividend per share  $0.075   $0.075       $0.300   $0.300     

 

 

* Percentage calculated not meaningful

 

The Company refers to certain non-GAAP financial measures in this press release, including Adjusted EBITDA, Adjusted Operating Income (Loss), Adjusted Net Income (Loss), Adjusted Income (Loss) per Share - diluted, Capital Expenditures, Net Debt and Free Cash Flow. Please refer to pages 13 to 16 of this press release for additional information, including reconciliations of such non-GAAP financial measures.

 


The following information was filed by Travelport Worldwide Ltd (TVPT) on Tuesday, February 20, 2018 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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