On The Beach Group PLC (OTCPK:OOBHF)

Preliminary Q4 2024 On The Beach Group PLC Earnings Call Transcript

Dec 3, 2024 / 10:30 AM GMT

Release Date Price: $2.4 (+37.14%)

Transcript

Key Points

Positve

On The Beach Group PLC (LSE:OTB) reported a 15% increase in sales, reaching £1.2 billion, and a 13% growth in volume, marking another record summer.
Adjusted profit before tax grew by 25% to £31 million, while reported profit before tax increased by 84% to £26.5 million.
The company ended the year with a strong cash position of £96 million, excluding £140 million held in a trust account.
A share buyback of up to £25 million has been initiated, reflecting a strong balance sheet and disciplined investment approach.
The company has set a medium-term ambition to more than double its business size to £2.5 billion in sales and £85 million in adjusted profit before tax.

Negative

Adjusted revenue per booking was slightly down compared to the prior year, impacted by a deflationary environment in the second half of the year.
There was significant volatility in airfares due to excess capacity from low-cost carriers, affecting revenue growth.
The company incurred £3 million in costs related to keeping Ryanair on sale, which were not adjusted in the financial results.
Group headcount decreased by 14% due to changes in B2B operations and increased automation, which may impact employee morale.
The company faces challenges in maintaining EBITDA margins at pre-pandemic levels, despite improvements in marketing and overhead efficiencies.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

OTB.L - On The Beach Group PLC
Preliminary Q4 2024 On The Beach Group PLC Earnings Call
Dec 03, 2024 / 10:30AM GMT

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Presentation
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Unidentified_1 [1]
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Welcome to the on the beach results presentation.

Me and John will start by talking through this year's performance and I will then provide an update on our growth strategy.

Before we jump into the financials, I will call out some of the key highlights for the year.

We've had another very good year sales of 1.2 billion were 15% ahead of last year. And it was another record summer with 13% volume growth adjusted profit before tax grew by 25% to 31 million and reported profit before tax grew by 84% to 26.5 million.

Our business model has the advantage of being capital, light and cash generative and we ended the year with cash of 96 million which excludes 140 million held in a trust

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