HELLOWORLD Travel has increased its EBITDA guidance for the 2020 financial year from $83-87 million to $86-90 million following the completion of the its acquisition of TravelEdge (TD 02 Oct).
The company’s business update for the first quarter to 30 Sep highlighted a strong start to the year for the travel agency, with total transaction value (TTV) for the quarter up 10.4% to $1.878 billion compared with the same period last year.
Helloworld Travel saw a strong increase in its Australian retail network performance of 7% on a ticketed basis & a jump in Flight Systems B2C business of 92%.
The company also experienced growth in its wholesale businesses of 5.7% as well as corporate travel management TTV growth of 14.3%.
TTV for New Zealand was up 31.1% for the quarter, including a 58.8% increase in the retail network and a 1.5% increase in corporate travel management.
Among the results was a New Zealand wholesale TTV dropoff of 14.2%, which the company indicated was due to the “elimination of unprofitable contracts”.
Helloworld Travel also noted it expected losses of under $1 millon due to the collapse of Tempo and Bentours (TD 14 Oct), with Helloworld noting the company & its network members made sure no customers were left out of pocket.
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Source: traveldaily