Travelport Worldwide Ltd (TVPT) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

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Travelport Worldwide Ltd
Ticker: TVPT CIK: 1424755

Exhibit 99.1

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		3	%		2,551,064		2,447,279	4	%
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		1	%		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	3	%
Adjusted Income per Share – diluted	$	0.31	$	0.35		(11)	%	$	1.46	$	1.44	1	%
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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