Travelport 2018 revenue growth driven by 'Beyond Air' segment growth

Travelport Worldwide Limited reported (22-Feb-2019) the following operating and financial highlights:

• 4Q2018:
  • Revenue: USD589 million, +3%. Growth was primarily due to growth in Travel Commerce Platform revenue of USD17 million, +3%;
    • Within Travel Commerce Platform revenue, Beyond Air segment revenue increased by USD17 million, +11%, offset by a marginal decrease in Air revenue of USD1 million;
      • Beyond Air revenue was driven by an increase in net revenue from the Payment Solutions business of 38% to USD75 million, primarily due to an increase in the volume of payments settled with existing customers that was partially offset by a decline in the remainder of the Beyond Air portfolio;
      • Air segment revenue decrease was mainly due to a decrease in Air Reported Segments that includes the impact of the loss of a large Pacific-based travel agency and other specific travel agency headwinds reported in earlier quarters, offset by improved pricing;
    • Technology Services revenue decreased USD2 million, or 6%, primarily due to lower hosting revenue;
• 2018:
  • Revenue: USD2551 million, +4% year-on-year. Growth was primarily due to growth in Travel Commerce Platform revenue of USD113 million, up 5%;
    • Within the Travel Commerce Platform segment, Beyond Air segment revenue increased USD108 million, or 17%, and Air segment revenue increased by USD5 million;
      • Beyond Air segment revenue growth was driven by an increase in net revenue from the Payment Solutions business of 63% to USD315 million, primarily due to an increase in the volume of payments settled with existing customers that was partially offset by a decline in the remainder of the Beyond Air portfolio;
      • Air segment revenue growth was mainly due to improved pricing that was offset by a decrease in Air Reported Segments that includes the impact of the loss of a large Pacific-based travel agency and other specific travel agency headwinds and a USD9 million recognition of revenue in 2017 in respect of revenue deferred in previous years;
    • Technology Services revenue decreased USD9 million, down 9%, primarily due to the sale of IGT Solutions Private in Apr-2017. [more - original PR]