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Travelport net income decreases 93% to $3 million in Q4 2018

02/22/2019| 10:53:32 PM| 中文

Travelport net income reached $75 million in 2018. Travel Commerce Platform revenue increased 5% to $2,454 million.

Travelport today announced its financial results for the fourth quarter and full year ended December 31, 2018.

Full Year Highlights 

• Net revenue increased 4% to $2,551 million, including Travel Commerce Platform revenue growth of 5% to $2,454 million

• Net income decreased 46% to $75 million; Adjusted EBITDA was flat at $590 million

• Income per share (diluted) decreased 50% to $0.57; Adjusted Income per Share (diluted) increased 1% to $1.46

• Payment Solutions (eNett) net revenue grew 63% to $315 million

• Net cash provided by operating activities increased 15% to $364 million; Free Cash Flow increased 10% to $220 million

Fourth Quarter Highlights

• Fourth quarter net revenue increased 3% to $589 million

• Net income decreased 93% to $3 million

• Adjusted EBITDA increased 1% to $140 million

Full Year Results 

Net revenue increased by $104 million, or 4%, to $2,551 million primarily due to growth in Travel Commerce Platform revenue of $113 million, or 5%. 

Within Travel Commerce Platform revenue, Beyond Air revenue increased by $108 million, or 17%, and Air revenue increased by $5 million. The increase in Beyond Air revenue was driven by an increase in net revenue from the Payment Solutions business of 63% to $315 million. Technology Services revenue decreased $9 million, or 9%, primarily due to the sale of IGT Solutions Private Ltd. In April 2017.

International Travel Commerce Platform revenue increased by $118 million, or 7%, with Europe mainly contributing to this increase due to an increase in its RevPas of 13%. The decrease in Travel Commerce Platform revenue in Asia Pacific of $1 million includes the loss of revenue resulting from the loss of a large Pacific-based travel agency.

Operating income decreased by $72 million, or 25%, to $217 million.

Net income decreased by $65 million, or 46%, to $75 million.

Net cash provided by operating activities increased by $47 million, or 15%, to $364 million.

Adjusted EBITDA was flat at $590 million.

Adjusted Net Income increased by $5 million, or 3%, to $187 million.

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TAGS: Travelport | GDS | financial statement
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