LONDON, Nov. 20, 2003 (PRIMEZONE) -- lastminute.com: Results Highlights
-- Total transaction value for 2003 grew by 125% year-on-year to 552.4 million (2002: 246.0 million). TTV for Quarter 4 grew by 98% to a record 222.3 million (Q4 2002: 112.4 million)
-- Stronger than expected forward order bank at 30 September 2003 of 43.6 million (30 September 2002: 24.4 million)
-- Significant organic like-for-like growth for the full year of 46%
-- Gross margin for Quarter 4 increased significantly to 20.3% (Q4 2002: 13.2%) and in 2003 to 18.3% (2002: 13.5%)
-- Gross profit for 2003 grew by 204% to 100.9 million (2002: 33.3 million) and for Quarter 4 2003 by 206% to 45.2 million (Q4 2002: 14.8 million)
-- Group EBITDA before exceptional items for 2003 of 15.0 million, up 305% year-on-year (2002: EBITDA loss 7.3 million) and for Quarter 4 2003 of 14.2 million (Q4 2002: 2.8 million)
-- Pre-tax profit (before goodwill amortisation and exceptional items) for the year of 0.2 million compared to a loss for 2002 financial year of 16.2 million
-- Positive operating cashflow (before exceptional items) of 13.5 million for 2003 (2002: outflow 8.0 million). Quarter 4 2003 inflow 15.2 million (Q4 2002: inflow 0.8 million)
Allan Leighton, Chairman said: "Another set of results that clearly demonstrate the progress we have made both in the Quarter and the year as a whole. We have strengthened our position as the clear European leader in the online travel and leisure market and are well placed to take advantage of the continued growth in the sector. We remain confident of further developments during 2004 in all key metrics."
Brent Hoberman, Chief Executive, added: "The 2003 financial year has been a year of continued transformation for lastminute.com with the delivery of overall profitability, record quarterly margins and significant cashflow. Technology has played a major role in the further development of a much improved customer experience. Having completed the brand and technology integrations, 2004 has started extremely well with trading in the first quarter strong."
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Notes to Editors:
About lastminute.com
lastminute.com operates directly in thirteen European countries and participates in three international joint ventures, providing travel and leisure inspirations and solutions to customers. At 30 September 2003 lastminute.com had over 7.7 million subscribers to its award winning weekly newsletter and had established over 15,500 supplier relationships. The business is based on the idea of matching supply and demand. lastminute.com offers consumers opportunities to acquire airline tickets, hotel rooms, holidays (both self packaged and third party packages), car hire, entertainment tickets, restaurant reservations and food delivery, speciality services, gifts and auctions.