Exhibit 99.1

 

Travelport Worldwide Limited Reports Second Quarter and Half Year 2017 Results

 

FIRST HALF PERFORMANCE IN LINE WITH EXPECTATIONS

 

LANGLEY, U.K., August 3, 2017

— Travelport Worldwide Limited (NYSE: TVPT) announced today its financial results for the second quarter and half year ended June 30, 2017.

 

Highlights (for the second quarter unless stated otherwise)

·Net revenue increased 1% to $612 million
·Travel Commerce Platform revenue increased 2% to $584 million
·Beyond Air revenue increased 8% to $160 million, with eNett revenue up 16% to $44 million driven by strong share of business gains from customers in Asia Pacific
·Completed sale in April 2017 of 51% ownership interest in IGT Solutions Private Ltd. (IGTS)
·Net income of $34 million; Adjusted EBITDA increased 6% to $147 million
·Net cash provided by operating activities increased 9% to $84 million; Free Cash Flow increased 11% to $60 million
·Post period-end completed successful repricing of term loans, reducing interest rate by 50 basis points
·Full year 2017 net revenue and earnings guidance unchanged; raising Free Cash Flow guidance

 

Gordon Wilson, President and CEO of Travelport, commented:

 

“We delivered a solid quarter, with top line growth reflecting pressure in certain regional travel markets, the sale of IGTS and the impact of the timing of Easter. Our overall results for the first half of the year were in line with our expectations and our Travel Commerce Platform continues to gain growth momentum, especially in the European and Asian online sectors where we are increasing our share. I am also delighted to confirm that, post period-end, we concluded the renewal of our full content agreement with Delta Air Lines on a long-term basis.

 

In Beyond Air, we are seeing good progress in hotel and car bookings, and have launched several new digital innovations for our airline and agency partners that bolster our position as the industry leader for mobile travel commerce. Our commercial payments business, eNett, also continues to make excellent progress with both existing customers and new business development. The second half has started well across the group, and we remain on track to deliver our growth targets for the year.”

 

Summary

 

  

Three months ended

June 30,

  

Six months ended

June 30,

 
(in $ thousands, except per share amounts)  2017   2016    Change   2017   2016   Change 
Net revenue   612,107    605,905    1%   1,262,870    1,215,168    4%
Operating income   73,850    37,760    96%   172,720    117,628    47%
Net income (loss)   34,366    (14,429)   *    90,229    2,752    * 
Income (loss) per share – diluted  $0.28   $(0.12)   *   $0.72   $0.01    * 
Adjusted EBITDA   147,006    139,013    6%   315,559    293,153    8%
Adjusted Operating Income   84,832    82,796    2%   192,073    179,260    7%
Adjusted Net Income   50,006    34,287    46%   114,363    85,242    34%
Adjusted Income per Share – diluted  $0.40   $0.28    43%  $0.91   $0.69    32%
Net cash provided by operating activities   83,585    76,728    9%   178,607    102,932    74%
Free Cash Flow   60,365    54,264    11%   131,778    57,947    127%
Cash dividend per share  $0.075   $0.075       $0.15   $0.15     

 

 

* 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 10 to 13 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 Thursday, August 3, 2017 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Travelport Worldwide Ltd's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Travelport Worldwide Ltd.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account