Business
Preliminary Results
Preliminary Results.
About this update from On The Beach Group Plc
[{"type":"text","content":"\n\n5 December 2023\n\nOn the Beach Group plc\n(\"On the Beach\", \"OTB\", the \"Company\" or the \"Group\")\n \nPRELIMINARY RESULTS FOR YEAR ENDED 30 SEPTEMBER 2023 ('FY23')\n \nFinancial Overview\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n2023\n\n\n2022\n\n\n\n\n\n\n\nAdjusted¹\n\n\nGAAP\n\n\nAdjusted¹\n\n\nGAAP7\n\n\n\n\nGroup TTV2\n\n\n1,070.4\n\n\n-\n\n\n849.4\n\n\n-\n\n\n\n\nGroup revenue\n\n\n\n\n\n170.2\n\n\n\n\n\n143.4\n\n\n\n\nRevenue as Agent3\n\n\n\n\n\n112.1\n\n\n\n\n\n92.9\n\n\n\n\nRevenue as Principal4\n\n\n\n\n\n58.1\n\n\n\n\n\n50.5\n\n\n\n\nGroup gross profit\n\n\n\n\n\n114.0\n\n\n\n\n\n94.9\n\n\n\n\nGross profit as Agent\n\n\n\n\n\n106.4\n\n\n\n\n\n89.1\n\n\n\n\nGross profit as Principal\n\n\n\n\n\n7.6\n\n\n\n\n\n5.8\n\n\n\n\nGroup profit before tax5\n\n\n23.6\n\n\n12.9\n\n\n14.2\n\n\n2.2\n\n\n\n\nBasic earnings per share6\n\n\n11.6p\n\n\n6.4p\n\n\n6.4p\n\n\n1.0p\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n1 Adjusted measures are non-GAAP measures, a full explanation of the adjustments is included in the glossary. The prior period is restated for the effects of the discontinued operations.\n2 Group Total Transaction Value ('TTV') is a non-GAAP measure representing the cumulative total transaction value of sales booked each month before cancellations and amendments.\n3 As an agent, revenue is accounted on a 'booked' rather than 'travelled' basis (unlike tour operators and airlines) and the Group is reporting bookings taken between 1 October 2022 and 30 September 2023. Adjusted revenue is revenue before exceptional items of £nil (2022: £1.0m) and fair value losses on forward currency contracts of £0.8m (2022: gains of £0.8m).\n4 As a principal, revenue is accounted on a 'travelled' basis and reported on a gross basis and the Group is reporting bookings which departed between 1 October 2022 and 30 September 2023.\n5 Group adjusted profit before tax excludes amortisation of acquired intangibles of £5.2m (2022: £5.5m), share-based payments cost of £1.2m (2022: £4.7m) fair value losses on forward currency contracts of £0.8m (2022: gains of £0.8m) and exceptional items of £3.5m (2022: £2.6m). A full explanation of the adjustments is included in the glossary.\n6 Ad...