TravelSky announced its annual results for the financial year ended December 31, 2017.
* Total revenue amounted to approximately RMB 6,734.2 million, representing an increase of approximately 8.2% over Year 2016.
* Profit attributable to equity holders of the Company was approximately RMB2,248.7 million, representing a decrease of approximately 7.1% over Year 2016.
* The Board recommended the distribution of a final cash dividend of RMB 0.253 per share for Year 2017.
Aviation Information Technology Services
In 2017, the Group’s Electronic Travel Distribution system processed approximately 586.2 million flight bookings on domestic and overseas commercial airlines, representing an increase of approximately 11.8% over the same period in 2016. Among which, the processed flight bookings on commercial airlines in China increased by approximately 12.2%, while those on foreign and regional commercial airlines increased by approximately 3.0%. The number of foreign and regional commercial airlines with direct links to the computer reservation systems of the Company reached 148, with sales percentage through direct links exceeding 99.8%.
Accounting, Settlement and Clearing Services
In 2017, The settlement company completed approximately 867 million transactions in quantity in system service business, and processed approximately 358.8 million pieces of BSP tickets. As an agent, it settled up to USD 9.8 billion of income from passenger and freight transport, miscellaneous expenses and international and domestic clearing fees. Its electronic payment trading volume reached approximately RMB 72.8 billion.
Distribution of Information Technology Services
The Group’s travel service distribution network comprises over 70,000 sales terminals owned by more than 8,000 travel agencies and travel service distributors, with high-level networking and direct links to all Global Distribution Systems around the world and 148 foreign and regional commercial airlines through SITA networks, covering over 400 domestic and overseas cities.
The Group rendered technology support and localized services to travel agencies and travel service distributors through more than 40 local distribution centers across China and 9 overseas distribution centers across Asia, Europe, North America and Australia. The network processed over 478.6 million transactions throughout the year with transaction amount up to RMB463.1 billion.
Airport Information Technology Services
In 2017, the Group continued to enhance research and development and promotion of airport information technology service and product, secured the market share of the traditional departure front end service and product, actively participated in construction projects of domestic airport information system.
Furthermore, the Group assisted commercial airline companies in providing various services for passengers, such as, boarding, transit and connection, in 148 overseas or regional airports. The person times of departure passengers receiving such services reached approximately 38.9 million, accounting for 90.1% of the number of passengers returning from overseas of such commercial airline companies.
Analysis of financial results
For Year 2017, profit before taxation of the Group was approximately RMB 2,631.6 million, representing a decrease of approximately 8.3% over that in the year ended December 31, 2016. Earnings before interests, tax, depreciation and amortization (EBITDA) reached approximately RMB 3,082.2 million, representing a decrease of approximately 4.2% over that in Year 2016. Profit attributable to equity holders of the Company was approximately RMB 2,248.7 million, representing a decrease of approximately 7.1% over that in Year 2016.
The Group’s working capital for Year 2017 mainly came from operating activities. Net cash inflow from operating activities amounted to RMB 3,062.6 million.
As at December 31, 2017, cash and cash equivalents in current assets of the Group amounted to RMB 3,558.3 million, of which approximately 88.5%, 10.2% and 0.3% were denominated in Renminbi, U.S. dollars and Hong Kong dollars, respectively.
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