Highlights:
• Grown Net Revenue and Adjusted EBITDA by 5% in both Q3 and year to date
• Increased RevPas by 4% in both Q3 and year to date
• Delivered new Japanese GDS for AXESS/Japan Airlines
• Further established industry-leading positions in both air and hotel content:
• Gained significant momentum on ground-breaking air merchandising platform, adding new low cost carriers and increasing ancillary content across all regions
• Sustained focus on hotel content – now offering 525,000 unique properties
• Another record quarter for our fast-growing eNett virtual payments business
Financial Highlights Third Quarter 2013
Travelport's Net Revenue of $511 million for the third quarter of 2013 was $22 million (5%) higher than the third quarter of 2012, and Adjusted EBITDA of $128 million was $5 million (5%) higher than the third quarter of 2012.
Travelport RevPas increased 4% to $5.51.
Travelport generated $55 million in net cash from operating activities for the three months ended September 30, 2013 compared to $6 million for the three months ended September 30, 2012.
YTD 2013
Travelport's Net Revenue of $1,596 million on a year to date basis for 2013 was $51 million (3%) higher than 2012 and Adjusted EBITDA of $408 million was $6 million (1%) lower than 2012.
The Master Service Agreement ("MSA") with United Airlines contributed approximately $27 million to Net Revenue, $21 million to each of Operating Income and EBITDA and $23 million to Adjusted EBITDA on a year to date basis for 2012. Excluding the impact of the MSA, Net Revenue increased $78 million (5%) and Adjusted EBITDA increased $17 million (5%) compared to 2012. The MSA only impacted the comparison of the results of operations for the six months of the year in 2013 compared to 2012.
Travelport RevPas increased 4% to $5.47.
Travelport generated $67 million in net cash from operating activities for the nine months ended September 30, 2013 compared to $134 million for the nine months ended September 30, 2012. The decrease is a result of the fluctuation in operating working capital.
