Interim report third quarter July 1 – September 30, 2014

CONDENSED FINANCIAL OVERVIEW

Third quarter July–September 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 14. For the third quarter 2013 the legal group existed from September 23. To obtain comparative figures in analyses, pro forma figures have been used for the third quarter 2013 as well.

  • Revenue amounted to SEK 167.0 million (140.1), an increase of 19% compared to the previous year
  • Net revenue amounted to SEK 144.1 million (122.7), an increase of 17% compared to the previous year
  • EBITDA amounted to SEK 48.4 million (44.7), with an EBITDA margin of 34% (36)
  • Operating profit amounted to SEK 30.1 million (26.4)
  • Net profit amounted to SEK 12.4 million (-14.9)

NINE-MONTH PERIOD JANUARY –SEPTEMBER 2014

  • Revenue amounted to SEK 477.2 million (427.6), an increase of 12% compared to the previous year
  • Net revenue amounted to SEK 411.5 million (375.3), an increase of 10% compared to the previous year
  • EBITDA amounted to SEK 114.9 million (134.7), with an EBITDA margin of 28% (36)
  • Operating profit amounted to SEK 60.6 million (79.8)
  • The net loss amounted to SEK -0.5 million (-16.3)

Significant events during and after the third quarter

  • The geographic expansion continued according to plan during 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.
  • Etraveli strengthened its Board of Directors on an EGM on October 30, 2014 by the election of two new members: Ralph Axelson, one of the founders of Etraveli and former CEO, and Per Setterberg, who for many years was CEO of Global Blue.

CEO COMMENT

We are pleased to report that the actions we have taken so far in 2014 to strengthen revenue and profitability within Etraveli clearly had an impact during the third quarter. Compared to same period in 2013, net revenue increased by just over 17%, about half of which was organic growth. At the same time EBITDA rose by 8% compared to the previous year. The increased growth rate and improved earnings are partly due to our successful international expansion and partly to operational improvements in the travel agency operations as a result of analytically driven decisions, coupled with rapid implementation of actions and the continued positive performance of Flygresor.se.

Our strategic agenda is clear. We continue to internationalize the business and improve our ability to deliver on our promise, to be a winning company in a competitive and changing market.

The fourth quarter has begun positively, well in line with the development we saw in the third quarter.

                                                                                                                                                              Mathias Hedlund, CEO

For further information, please contact:

Mathias Hedlund, CEO
Mobil: +46 706 66 37 58 , mathias.hedlund@etraveli.com

Johan Waxberg, CFO
Mobil: +46 701 48 72 72, johan.waxberg@etraveli.com

About Etraveli

Etraveli (publ) is the leading e-commerce group for online travel in the Nordics 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 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 is headquartered in Uppsala, Sweden and is owned by the private equity fund Segulah IV, LP and senior management.

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About Us

About Etraveli Etraveli is the leading e-commerce group for online travel in the Nordics 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 in Sweden. Etraveli is one of the five largest aircentric online travel agents in Europe, and in 2014 it intermediated air tickets and related services for about SEK 8.5 billion, with revenue of more than SEK 640 million. The company is headquartered in Uppsala, Sweden and is owned by the private equity fund Segulah IV, LP and senior management.

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Quotes

We are pleased to report that the actions we have taken so far in 2014 to strengthen revenue and profitability within Etraveli clearly had an impact during the third quarter.
Mathias Hedlund, CEO Etraveli