Exhibit 99.1

 

LOGO

Travelport Worldwide Limited Reports Fourth Quarter and Full Year 2014 Results

RESULTS IN LINE WITH EXPECTATION AND STRONG PLATFORM ESTABLISHED FOR FUTURE GROWTH

LANGLEY, U.K., February 23, 2015

— Travelport Worldwide (NYSE: TVPT) announced today its financial results for the fourth quarter and full year ended December 31, 2014.

Key Points

 

    Full year net revenue up 3%; Adjusted EBITDA for FY 2014 up 5%, at top end of guidance

 

    Beyond Air revenue up 14% to $424 million in FY 2014, representing 21% of Travel Commerce Platform revenue (FY 2013: 19%)

 

    Hospitality segments per 100 airline tickets issued increased to 43 in FY 2014 (FY 2013: 41)

 

    eNett momentum continues with full year revenue growth of 49% to $67 million. Payment transactions accelerated during the fourth quarter at key agency customers

 

    Air value proposition further enhanced; 89 airlines signed to-date for Travelport’s unique “Rich Content & Branding” merchandising solution – 51 already have content live in the latest release of Smartpoint, our multi award-winning point-of-sale application

 

    Board of Directors declared $0.075 per share dividend for Q4

Gordon Wilson, President and CEO of Travelport, commented:

“These financial results seal a transformational year for Travelport. With double-digit growth in Beyond Air and real innovations in Air, we have been able to substantively improve the strength of our Travel Commerce Platform. This is apparent in the near $90 billion of commerce transacted across the Platform last year, placing us amongst the global leaders of e-commerce marketplaces. With a 7% increase in hospitality segments booked per 100 airline tickets issued in the fourth quarter, and a nearly 60% increase in revenue from eNett over the same period, we are starting to see strong and progressive returns on the focused investments that we have made. Central to these trends are the innovations that we bring to our industry, including most recently our industry-defining Rich Content & Branding merchandising solution for airlines. With such investments, a transformed capital structure and the resolution of two key legacy contracts, Travelport is well positioned for 2015.”

Summary

 

     Three months ended
December 31,
    Year ended
December 31,
 

(in $ millions, except per share amounts)

   2014     2013     Better /
(Worse)
    2014     2013     Better /
(Worse)
 

Net revenue

     496        480        3     2,148        2,076        3

Operating income

     5        26        (85 )%      161        208        (23 )% 

Net (loss)/income

     (42     (49     14     91        (203     145

(Loss)/income per share – diluted

   $ (0.35   $ (0.83     58   $ 0.98      $ (4.52     122

Adjusted EBITDA

     110        109        2     540        517        5

Adjusted Net Loss

     (2     (25     93     (11     (48     78

Adjusted Loss per Share – diluted

     (0.01   $ (0.41     98   $ (0.12   $ (1.06     89

Net cash provided by operating activities

     69        33        109     58        100        (42 )% 

Adjusted Free Cash Flow

     41        (2              (39     20        (295 )% 

Cash dividend per share

   $ 0.075        —                 $ 0.075        —              

 

* Not meaningful

The Company refers to certain non-GAAP financial measures in this press release, including Adjusted EBITDA, Adjusted Loss per Share, Adjusted Net Loss, Adjusted Free Cash Flow, Capital Expenditures, Net Debt, Trading Working Capital and Unlevered Adjusted Free Cash Flow. Please refer to pages 12, 14 and 15 of this press release for additional information, including reconciliations of such non-GAAP financial measures. We have not reconciled Adjusted EBITDA guidance to net income guidance because we do not provide guidance for share-based compensation expense, provision for income taxes, interest income, interest expense, litigation and related costs, and other items, as certain of these items are out of our control and/or cannot be reasonably predicted.

 

1


The following information was filed by Travelport Worldwide Ltd (TVPT) on Monday, February 23, 2015 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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