Travelport Limited posted $593 million in net revenue and $67 million in EBITDA in the fourth quarter (ended December 31, 2006). (3/16/2007)
Net Revenue and EBITDA from Travelport´s B2B segment, which is primarily comprised of the Galileo and GTA businesses, were $416 million and $84 million, respectively, for the fourth quarter of 2006.
Net Revenue and EBITDA from Travelport´s B2C segment, which is primarily comprised of the online travel brands, were $193 million and $23 million, respectively, for the fourth quarter of 2006.
Travelport president and chief executive officer, Jeff Clarke, stated: "Clearly, 2006 was a transformational year for Travelport. In addition to separating from Cendant and being acquired by The Blackstone Group and Technology Crossover Ventures, we renegotiated our major U.S. air GDS contracts, grew our domestic online businesses faster than our competition, kicked off our reengineering efforts which are yielding cost savings ahead of schedule, reorganised our business into three global operating units and announced the acquisition of Worldspan in December. I´m pleased to say we achieved all of these things while maintaining focus on the day to day execution and operation of the business and beat our own internal financial projections for the year."
Mike Rescoe, Travelport executive vice president and chief financial officer, said, "To date, we have executed cost savings actions that will result in approximately $83 million of annualised run rate cost savings. Additionally, we continued to experience impressive growth in our domestic business to consumer brands during the quarter, where our online gross bookings grew by 29 percent as compared to the same period in 2005."