Travelport released its 2009 full-year results this morning. A summary is as follows:
- Net revenue of $2,248 million.
- Operating loss of $499 million.
- Generated $239 million in net cash from operating activities.
- EBITDA of $632 million.
Year-on-year analysis:
- Net revenue in 2009 was $2,248 mllion, down 11% from $2,527 in 2008.
- Operating income in 2009 was a loss of $499, down from a profit of $24 million in 2008.
- EBITDA in 2009 was $632 million, down by 12% from $716 million in in 2008.
From the GDS business:
- Net revenue in 2009 was $1,981 million, down by 9% from $2,171 million in 2008.
- Adjusted EBIDTA was $628 million in 2009, down 6% from $669 million in 2008.
From the GTA business:
- Revenue in 2009 was $267 million, down 25% from $356 million in 2008.
- Adjusted EBITDA in 2009 was $59 million, down 46% from $110 million in 2008.
Travelport reports a $9 million loss from its 48% equity investment in Orbitz Worldwide.
Chief executive Jeff Clarke says:
“During the downturn, we increased our investment in key innovative products, including the Universal Desktop, and in core search and infrastructure capabilities. Â We will continue to invest heavily in these strategic areas in 2010.
“We’re pleased to have seen five consecutive months in travel transaction growth across our business from October 2009. Â Based on the market recovery and our scalable business model, we expect to grow revenues and profits for the full year 2010.”
More details to follow…
[...] Travelport announces 2009 full-year results [top-line summary] [...]