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Qunar accommodation revenues grows by 324.1% in 2015

03/17/2016| 11:14:06 AM| 中文

Qunar reports an increase of 84.7% year-on-year in flight and flight related revenues and a 423.6% growth in accommodation revenues for the fourth quarter of 2015.

Qunar reports an increase of 84.7% year-on-year in flight and flight related revenues to RMB636.2 million (US$98.2 million), and a 423.6% growth in accommodation revenues to RMB535.1 million (US$82.6 million)for the fourth quarter of 2015.

Highlights for the Fourth Quarter and Fiscal Year 2015

Fourth Quarter 2015

 * Total revenues for the fourth quarter of 2015 were RMB1,294.0 million (US$199.8 million), an increase of 149.0% year-on-year.
 * Gross profit for the fourth quarter of 2015 were RMB786.6 million (US$121.4 million), an increase of 105.9% year-on-year.
 * Mobile revenues for the fourth quarter of 2015 were RMB973.9 million (US$150.3 million), an increase of 278.3% year-on-year, representing 75.3% of total revenues, compared to 49.5% in the corresponding period of 2014.

Fiscal Year 2015

 * Total revenues for fiscal year 2015 were RMB4,171.2 million (US$643.9 million), an increase of 137.4% year-on-year.
 * Gross profit for fiscal year 2015 were RMB2,738.0 million (US$422.7 million), an increase of 110.3% year-on-year.
 * Mobile revenues for fiscal year 2015 were RMB2,948.0 million (US$455.1 million), an increase of 316.1% year-on-year, representing 70.7% of total revenues, compared to 40.3% in 2014.

“We are proud of what we have achieved in 2015 as total revenues grew 137.4% year-on-year with significant progress across our business lines,” said Zhenyu Chen, chief executive officer of Qunar. “We believe our team’s work in 2015 has laid a solid foundation for Qunar to achieve balanced and sustainable long term growth in 2016 and beyond.”

Fourth Quarter 2015 Financial Results

Total revenues for the fourth quarter of 2015 were RMB1,294.0 million (US$199.8 million), an increase of 149.0% year-on-year.

Mobile revenues for the fourth quarter of 2015 were RMB973.9 million (US$150.3 million), an increase of 278.3% year-on-year, representing 75.3% of total revenues.

Flight and flight related revenues for the fourth quarter of 2015 were RMB636.2 million (US$98.2 million), an increase of 84.7% year-on-year and 6.6% quarter-on-quarter. Year-on-year flight and flight related revenue growth was primarily due to an increase in revenue per ticket and an increase in Total Estimated Flight Ticket volume (TEFT).

Accommodation reservation revenues were RMB535.1 million (US$82.6 million), an increase of 423.6% year-on-year and remaining relatively stable quarter-on-quarter.

Gross profit for the fourth quarter of 2015 was RMB786.6 million (US$121.4 million), an increase of 105.9% year-on-year. Gross margin for the fourth quarter of 2015 was 60.8%, compared to 73.5% for the corresponding period of 2014 and 62.4% for the third quarter of 2015. 

Operating loss for the fourth quarter of 2015 was RMB4,955.8 million (US$765.0 million), compared to RMB666.6 million in the corresponding period of 2014 and RMB661.1 million in the third quarter of 2015.

Adjusted EBITDA (non-GAAP), defined as net loss before income tax expense, depreciation and amortization, interest expense, further adjusted to exclude share-based compensation expenses of RMB4,502.5 million (US$695.1 million) and impairment loss of long-term investments of RMB39.4 million (US$6.1 million), was negative RMB443.5 million (US$68.5 million) for the fourth quarter of 2015, compared to negative RMB268.8 million in the corresponding period of 2014 and negative RMB537.3 million in the third quarter of 2015.

Fiscal Year 2015 Financial Results

Total revenues for fiscal year 2015 were RMB4,171.2 million (US$643.9 million), an increase of 137.4% year-on-year.

Mobile revenues for fiscal year 2015 were RMB2,948.0 million (US$455.1 million), an increase of 316.1% year-on-year, representing 70.7% of total revenues.

Flight and flight related revenues for fiscal year 2015 were RMB2,206.9 million (US$340.7 million), an increase of 88.4% year-on-year. Year-on-year flight and flight related revenue growth was primarily due to an increase in revenue per ticket and an increase in TEFT.

Accommodation reservation revenues for fiscal year 2015 were RMB1,472.9 million (US$227.4 million), an increase of 324.1% year-on-year.

Gross profit for fiscal year 2015 was RMB2,738.0 million (US$422.7 million), an increase of 110.3% year-on-year. Gross margin for fiscal year 2015 was 65.6%, compared to 74.1% for 2014.

Operating loss for fiscal year 2015 was RMB6,723.2 million (US$1,037.9 million), compared to RMB1,844.8 million for 2014.

Adjusted EBITDA (non-GAAP), defined as net loss before income tax expense, depreciation and amortization, interest expense, further adjusted to exclude share-based compensation expenses of RMB4,782.6 million (US$738.3 million), impairment loss of long-term investments of RMB39.4 million (US$6.1 million), online marketing expenses from the Zhixin Cooperation Agreement of RMB37.2 million (US$5.7 million) and fair value change in warrant liability of RMB398.0 million (US$61.4 million), was negative RMB1,818.7 million (US$280.8 million) for fiscal year 2015, compared to negative RMB743.2 million for 2014.

As of December 31, 2015, Qunar had cash and cash equivalents, restricted cash, funds receivables and short-term investment of RMB6,929.8 million (US$1,069.8 million).

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