Interim report April – June 30, 2014
CONDENSED FINANCIAL OVERVIEW
Second quarter APRIL–JUNE 2014
Financial information in the interim report refers, unless otherwise stated, to the Etraveli Group. Comparative figures in parentheses are pro forma as if European Travel Interactive Group Holding AB were consolidated as of January 1, 2013. For definitions, see page 12.
- Revenue amounted to SEK 152.2 million (137.3), an increase of 11% compared to the previous year
- Net revenue amounted to SEK 132.1 million (120.2), an increase of 10% compared to the previous year
- EBITDA amounted to SEK 38.4 million (45.1), with an EBITDA margin of 29% (38)
- Operating profit amounted to SEK 20.5 million (26.8)
- The net loss amounted to SEK -5.9 million (-2.0)
- Revenue amounted to SEK 310.3 million (287.5), an increase of 8% compared to the previous year
- Net revenue amounted to SEK 267.3 million (252.6), an increase of 6% compared to the previous year
- EBITDA amounted to SEK 66.5 million (90.0), with an EBITDA margin of 25% (36)
- Operating profit amounted to SEK 30.5 million (53.4)
- The net loss amounted to SEK -5.1 million (-1.3)
- The geographic expansion continued according to plan during, and to a greater degree after, the quarter, as a result of which the Group is currently active in a total of 25 European markets.
- In July Etraveli AB applied to list a bond loan totaling EUR 80,000,000 on NASDAQ OMX Stockholm and prepared a prospectus. The bond was listed on August 1, 2014.
Six-month period JanuarY–June 2014
Significant events during and after the Second quarter
After a weak start to the first quarter due to both external and internal factors, the second quarter saw improving stability in terms of revenue and operating results. The measures taken to strengthen revenue and profitability are having their intended effect, and the trend of gradually improving comparative figures is continuing at the start of the third quarter.
We still face tight competition in the Nordic market, with strong margin pressure that is adversely affecting our results, at the same time that new markets are developing very positively and better than expected. This encourages us, as our aim is to continue to expand geographically, and we are now active in 25 European markets.
Svenska Resenätverket with Flygresor.se has been part of Etraveli since the beginning of the year. The business is performing well, with increasing revenues and better operating results than last year. During the period a sister service, Charter.se, was updated as well. We are now focused on further improving the consumer benefits of our services and thereby strengthening our market leadership in aircentric travel search in Sweden.
Mathias Hedlund, CEO
For further information, please contact:
Mathias Hedlund, CEO
Mobil: 46 706 66 37 58 , email@example.com
Johan Waxberg, CFO
Mobil: 46 701 48 72 72, firstname.lastname@example.org
Etraveli (publ) is the leading Nordic online travel agent (OTA) with a wide range of airline tickets, hotel accommodation and other travel related services. The company operates in 25 countries through brands such as Supersaver/Supersavertravel, Gotogate, Travelstart and the meta-search services Flygresor.se and Charter.se in Sweden. Etraveli is one of the five largest aircentric online travel agents in Europe, and in 2013 it intermediated air tickets and related services to an amount exceeding SEK 7 billion, with revenue of more than SEK 500 million. The company headquartered is in Uppsala, Sweden and is owned by the private equity fund Segulah IV, LP and senior management.