Business
OneSpaWorld Reports Fourth Quarter and Fiscal Year 2019 Financial Results
Fourth Quarter and Fiscal Year 2019 Revenue and Adjusted EBITDA Reported In Line with Guidance Declares Quarterly Cash Dividend NASSAU, Bahamas--(BUSINESS
About this update from Onespaworld Holdings Limited
[{"type":"text","content":"\nFourth Quarter and Fiscal Year 2019 Revenue and Adjusted EBITDA Reported In Line with Guidance\n\n\nDeclares Quarterly Cash Dividend\n\n NASSAU, Bahamas--(BUSINESS WIRE)--\nOneSpaWorld Holdings Limited (NASDAQ: OSW) (“OneSpaWorld,” or the “Company”), the pre-eminent global provider of health and wellness services and products on-board cruise ships and in destination resorts around the world, today announced its financial results for its fourth quarter and fiscal year ended December 31, 2019.\n\n\nFiscal Year 2019 Accomplishments:\n\n\n\nSuccessfully completed the Business Combination and entered the public markets trading as OSW on the Nasdaq market, on March 19, 2019;\n\n\nGrew market share in the operations of Health and Wellness at sea;\n\n\nExtended agreements with Norwegian Cruise Line, P&O Cruises, Saga Cruises, Windstar Cruises and Crystal Cruises;\n\n\nCommenced services on, Costa Venezia, Spectrum of the Seas, Sky Princess, Norwegian Encore, Carnival Panorama and Costa Smeralda;\n\n\nNamed Oceania Cruises and Regent Seven Seas Cruises official partners to operate spa and wellness centers on their entire fleet;\n\n\nNamed Virgin Voyages official partner to operate spa and wellness centers on their first-ever cruise offering; and\n\n\nNamed Celebrity Cruises official partner to operate spa and wellness centers on their entire fleet, increasing the Celebrity vessels operated on in 2020 by nine.\n\n\n\n\nIncreased average weekly revenue per ship and average weekly revenue per ship board staff per day for the fourth quarter and fiscal year;\n\n\nAdopted a cash dividend program with an initial quarterly cash dividend payment of $0.04 per common share; and\n\n\nEntered fiscal 2020 with the highest market share, highest vessel count and largest vessel additions in the Company’s history; strong free cash flow; and a robust operating platform to continue the Company’s successful expansion.\n\n\n\nLeonard Fluxman, Executive Chairman of OneSpaWorld, commented, “We had a solid finish to the year, reporting fourth quarter revenue and adjusted EBITDA in line with our guidance. Overall, 2019 was a milestone year for our Company as we successfully entered the public markets, grew sales and after-tax free cash flow conversion, as well as initiated our first-ever dividend. We delivered all of this, while making significant progress on o...