Slide 1: Sabre Corporation Q3 2014 Earnings Report
Sabre Corporation Q3 2014 Earnings Report November 11th, 2014 Exhibit 99.3
Slide 2: Forward Looking Statements
Forward Looking Statements Certain statements herein are forward-looking statements about trends, future events, uncertainties and our plans and expectations of what may happen in the future. Any statements that are not historical or current facts are forward-looking statements. In many cases, you c
Slide 3: Today's Presenters
Today’s Presenters Tom Klein President and CEO Rick Simonson EVP and CFO
Slide 4: Q3 2014 Highlights
Q3 2014 Highlights Results demonstrate continued operational and strategic execution Sales, implementation and innovation momentum Excellent top-line growth and earnings flow-through at Airline and Hospitality Solutions Stronger bookings, revenue and Adjusted EBITDA growth at Travel Network versus p
Slide 5: Airline and Hospitality Solutions
Airline and Hospitality Solutions Revenue Adjusted EBITDA Existing customer growth drives 137 million passengers boarded, up 7.9% Revenue growth of 14.3% to $209MM on PB growth, consulting, and commercial and operations portfolio momentum Strong flow through from SaaS solutions produces 43.4% Adjust
Slide 6: Travel Network
Travel Network Revenue Adjusted EBITDA Bookings up 3.1% due to growth in all regions, particularly EMEA 3.7% revenue growth driven by bookings growth and other revenue 5.5% Adjusted EBITDA growth Nearly 100 airlines now selling ancillaries through Travel Network Strong sales growth with corporate cu
Slide 7: Travelocity
Travelocity Adjusted Revenue$89MM Adjusted EBITDA$16MM Q3 is the first demonstration of the run-rate earnings power of Expedia strategic marketing agreement Strong return to positive Adjusted EBITDA with $25MM sequential quarter-over-quarter improvement Optimal level of marketing delivering lower th
Slide 8: Income Statement
Income Statement Sabre Third Quarter P& sabre $759 Revenue ($17) (2%) Cost of revenue ($401) $6.0 1% ($378) ($29) (8%) Gross Income $358 ($11) (3%) $292 $26 10% SG&A ($132) $38.2 22% ($82) ($7) (9%) JV Equity income $4 $1 39% $4 $1 3% EBITDA $230 $29 14% $214 $20 10% Net Income $70 Earnings Per Shar
Slide 9: Net Debt and Leverage
Net Debt and Leverage Q3 Adjusted Free Cash Flow generation of $73MM, up 37% year-over-year Adjusted Capex of $60MM. Anticipate full-year Adjusted Capex of $270MM, including capitalized implementation costs Q3 2014 leverage ratio of 3.6x Targeting 3.0x–3.5x leverage over time* Highlights Net debt/ L
Slide 10: Guidance for FY 14
$2,755 - $2,785 $848 - $863 $0.90 - $0.96 Guidance for FY 2014 Revenue Adjusted EBITDA Adjusted EPS (Adjusted Net Income from Continuing Operations per share based on FY fully diluted shares outstanding of 247M) $222- $237 Adjusted Net Income $2,575 - $2,595 $833 - $843 Sabre Excluding Travelocity $
Slide 11: Summary
Summary Continued progress against operational and strategic objectives Solid 9% revenue and 10% Adjusted EBITDA growth across core businesses Strong commercial momentum into year end and looking ahead to 2015
Slide 12: Appendix
Appendix
Slide 13: Tabular Reconciliations for Non-GAAP Measures
Tabular Reconciliations for Non-GAAP Measures Reconciliation of net income (loss) to Adjusted Net Income, Net Income from Continuing Operations per Share, and to Adjusted EBITDA
Slide 14: Reconciliation of Adjusted Revenue and Adjusted Capital Expenditures
Reconciliation of Adjusted Revenue: Reconciliation of Adjusted Capital Expenditures:
Slide 15: Reconciliation of Adjusted Free Cash Flow
Reconciliation of Adjusted Free Cash Flow:
Slide 16: Reconciliation of Adjusted Gross Margin and Adjusted EBITDA by Segment
Reconciliation of Adjusted Gross Margin and Adjusted EBITDA by Segment:
Slide 17: Reconciliation of Adjusted Gross Margin and Adjusted EBITDA by Segment
Reconciliation of Adjusted Gross Margin and Adjusted EBITDA by Segment:
Slide 18: Reconciliation of Adjusted Gross Margin and Adjusted EBITDA by Segment
Reconciliation of Adjusted Gross Margin and Adjusted EBITDA by Segment:
Slide 19: Reconciliation of Adjusted Gross Margin and Adjusted EBITDA by Segment
Reconciliation of Adjusted Gross Margin and Adjusted EBITDA by Segment:
Slide 20: Reconciliation of Adjusted Cost of Revenue, Adjusted SG&A, & Adjusted JV Equity Income
Reconciliation of Adjusted Cost of Revenue, Adjusted SG&A, & Adjusted JV Equity Income:
Slide 21: Non-GAAP Financial Measures
Non-GAAP Financial Measures We have included both financial measures compiled in accordance with GAAP and certain non-GAAP financial measures in this press release, including Adjusted Revenue, Adjusted Gross Margin, Adjusted Cost of Revenue, Adjusted SG&A, Adjusted JV Equity Income, Adjusted Net Inc
Slide 22: Non-GAAP Footnotes
Non-GAAP Footnotes: (1) Net income attributable to noncontrolling interests represents an adjustment to include earnings allocated to noncontrolling interests held in Sabre Travel Network Middle East of 40% for all periods presented and in Sabre Seyahat Dagitim Sistemleri A.S. of 40% beginning in Ap