Slide 1: Q2 2024 Earnings Report
Q2 2024 Earnings Report 1 August 2024 ©2024 Sabre GLBL Inc. All rights reserved. 1
Slide 2: Forward-looking statements
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 state
Slide 3: Today's presenters
Today’s presenters Kurt Ekert Mike Randolfi President & CEO EVP & CFO confidential | ©2024 Sabre GLBL Inc. All rights reserved. 3
Slide 4: Agenda
Agenda 01 Q2 2024 highlights and review 02 Growth strategies update 03 Review of Q2 2024 financial results 04 Guidance update ©2024 Sabre GLBL Inc. All rights reserved. 4
Slide 5: Continued strong financial performance in Q2 2024
Continued strong financial performance in Q2 2024 Revenue Adj. EBITDA Adj. EBITDA margin +$30M +$56M (+4%) (+76%) +6.9pts $767M $129M 16.8% $738M $73M 9.9% 2020 Q2 2023 Q2 2024 Q2 2023 Q2 2024 Q2 2023 Q2 2024 Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP measures. See slide 2 and the appen
Slide 6: Q2 2024 Highlights: Delivering on our priorities
Q2 2024 Highlights: Delivering on our priorities STRATEGIC PRIORITIES RECENT ACHIEVEMENTS GENERATE POSITIVE FREE • Exceeded Q2 revenue and AEBITDA guide and generated positive quarterly FCF CASH FLOW / DE-LEVER THE • Raised full year 2024 revenue and AEBITDA guidance BALANCE SHEET • Expect to delive
Slide 7: Travel Solutions Q2 2024 financial highlights
Travel Solutions Q2 2024 financial highlights TOTAL DISTRIBUTION TOTAL REVENUE ADJUSTED EBITDA BOOKINGS $695M $180M 91M Growth of 4% YoY Growth of 32% YoY Growth of 1% YoY AIR DISTRIBUTION AIR DISTRIBUTION HOTEL DISTRIBUTION INDUSTRY SHARE BOOKINGS BOOKINGS 33.9% (1%) +12% Growth of 0.2pts YoY YoY Y
Slide 8: Faster air distribution industry bookings growth vs. broader industry
Faster air distribution industry bookings growth vs. broader industry Share of Air Distribution Industry Bookings +0.2pts 33.9% ✓ 6th consecutive quarter of YoY share 33.7% gains ✓ Anticipate continued momentum from recent commercial wins ✓ Expect to achieve further industry share gains Q2 2023 Q2 2
Slide 9: Hospitality Solutions Q2 2024 financial highlights
Hospitality Solutions Q2 2024 financial highlights TOTAL REVENUE ADJUSTED EBITDA $83M $10M Growth of 9% YoY ~$6M Improvement YoY CENTRAL RESERVATION RECURRING REVENUE* SYSTEM TRANSACTIONS 81% 33M As a % of total revenue Growth of 4% YoY Hyatt implementation on track for completion in 2025 * Three mo
Slide 10: Recent commercial wins driving sustainable growth
Recent commercial wins driving sustainable growth ©2024 Sabre GLBL Inc. All rights reserved. 10
Slide 11: Growth strategies continue gaining traction
Growth strategies continue gaining traction • Incorporated NDC content from Etihad, Air Canada, and • Spend volume YTD up 5% YoY Multi-Source Hawaiian, with 22 airlines now Digital live with NDC in Sabre Payments • Virtual card deployments up Platform 32% YoY • Expect to add ~75 LCC carriers to plat
Slide 12: Multi-Source Platform
Multi-Source Platform A transformative approach to seamlessly integrate EDIFACT, NDC and LCC content Global consumer reach with dynamic offers and multiple ways to connect to Sabre Reduce complexity for buyers with single access point to all capabilities and content Maximize profit with intelligent
Slide 13: AI infused offer-order ecosystem
TM AI infused offer-order ecosystem [ SABRE TRAVEL AI ™ [ Generative Next-Gen Retailing Modular Open Ecosystem Cloud-Native AI Solutions ©2024 confidential Sabre |GLBL ©2024 Inc.Sabre All rights GLBLreserved. Inc. All rights reserved. 13 13
Slide 14: Q2 2024 financial highlights
Q2 2024 financial highlights ✓ Exceeded Q2 revenue and AEBITDA guidance and raised FY 2024 guidance ✓ Delivered revenue growth of 4% YoY or $30M to $767M ✓ Achieved Q2 AEBITDA of $129M, up $56M YoY ✓ Expanded AEBITDA margin by ~7pts YoY to 17% in Q2 ✓ Achieved $10M in Q2’24 AEBITDA from Hospitality
Slide 15: Second Quarter 2024 results versus guidance
Second Quarter 2024 results versus guidance Q2’24 Guidance Q2’24 Actual Revenue ~$750M $767M AEBITDA(1) ~$115M $129M Free cash flow(1) Positive $8M 1 Adjusted EBITDA and Free Cash Flow are non-GAAP measures. See slide 2 and the appendix for a discussion of non-GAAP financial measures, including reco
Slide 16: Significant YOY financial improvement in Q2 2024
Significant YOY financial improvement in Q2 2024 Q2’23 Q2’24 Commentary Improvement driven by favorable rate impacts from richer mix and an increase in global hotel and Total Revenue $738M $767M other travel bookings Travel Solutions $671M $695M Distribution bookings up 1% vs. Q2’23 Distribution $53
Slide 17: Q3, Q4, and FY 2024 guidance
Q3, Q4, and FY 2024 guidance Q3’24 Q4’24 FY 2024 Revenue ~$775M ~$725M ~$3.05B Prior: $3.04B AEBITDA ~$135M ~$120M ~$525M Prior: $520M Free cash flow Positive Positive Positive The information presented here represents forward-looking statements and reflects expectations as of August 1, 2024. Sabre
Slide 18: Thank you
Thank you Thank you ©2024 Sabre GLBL Inc. All rights reserved. 18
Slide 19: Appendix
APPENDIX
Slide 20: Business outlook and financial guidance
Business outlook and financial guidance • Third quarter 2024 Adjusted EBITDA guidance consists of third quarter expected net loss attributable to common stockholders of approximately $51 million; less the expected impact of acquisition-related amortization of approximately $10 million; expected stoc
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, including Adjusted Operating Income, Adjusted Net Loss from continuing operations ("Adjusted Net Loss"), Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted EP
Slide 22: Non-GAAP financial measures
Non-GAAP financial measures Adjusted Operating Income, Adjusted Net Loss, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted EPS, Free Cash Flow and ratios based on these financial measures are not recognized terms under GAAP. These non-GAAP financial measures and ratios based on them are unaudited a
Slide 23: Tabular reconciliations for Non-GAAP measures
Tabular reconciliations for Non-GAAP measures Reconciliation of net loss attributable to common stockholders to Adjusted Net Loss from continuing operations, Operating income (loss) to Adjusted Operating Income, and loss from continuing operations to Adjusted EBITDA: (in thousands, except per share
Slide 24: Tabular reconciliations for Non-GAAP measures
Tabular reconciliations for Non-GAAP measures ©2024 Sabre GLBL Inc. All rights reserved. 24
Slide 25: Tabular reconciliations for Non-GAAP measures
Tabular reconciliations for Non-GAAP measures Reconciliation of Adjusted Operating Income (Loss) to operating income (loss) in our statement of operations and Adjusted EBITDA to loss from continuing operations in our statement of operations by business segment: (in thousands; unaudited) ©2024 Sabre
Slide 26: Tabular reconciliations for Non-GAAP measures
Tabular reconciliations for Non-GAAP measures Reconciliation of Adjusted Operating Income (Loss) to operating income (loss) in our statement of operations and Adjusted EBITDA to loss from continuing operations in our statement of operations by business segment: (in thousands; unaudited) ©2024 Sabre
Slide 27: Tabular reconciliations for Non-GAAP measures
Tabular reconciliations for Non-GAAP measures Reconciliation of Adjusted Operating Income (Loss) to operating income (loss) in our statement of operations and Adjusted EBITDA to loss from continuing operations in our statement of operations by business segment: (in thousands; unaudited) ©2024 Sabre
Slide 28: Tabular reconciliations for Non-GAAP measures
Tabular reconciliations for Non-GAAP measures Reconciliation of Adjusted Operating Income (Loss) to operating income (loss) in our statement of operations and Adjusted EBITDA to loss from continuing operations in our statement of operations by business segment: (in thousands; unaudited) ©2024 Sabre
Slide 29: 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 (i) Sabre Travel Network Middle East of 40%, (ii) Sabre Seyahat Dagitim Sistemleri A.S. of 40%, (iii) Sabre Travel Network Lanka (Pte)