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Cox and Kings Ltd. EBITDA at Rs 643 Crore in H1FY17

Cox & Kings Ltd., the leading holidays and education travel group having operations in 22 countries, today announced its financial results for the quarter ended September 30th, 2016.

 

Q2FY17 Highlights

Consolidated (continuing operations only)

  • Net revenues at Rs. 597 crore against Rs.612 crore in Q2FY16, a decline of 4% y-o-y despite ~14% fall y-o-y in GBP/INR in 2QFY17

  • EBITDA (excl. Forex gain/loss) stood at Rs. 287 crore as compared to Rs. 299 crore in Q2FY16

 

Standalone

  • Net revenues up by 11% to Rs. 140 crore as against Rs 126 crore in Q2FY16

  • EBITDA (excl. Forex gain/loss) for the quarter stood at Rs. 57 crore, up 8% y-o-y from Rs.53 crore in the corresponding period last year

  • PBT (excl. Forex gain/loss) stood at Rs 59 crore, up 20% y-o-y from Rs 49 crore in Q2FY16

 

H1FY17 Highlights

Consolidated (continuing operations)

  • Net Sales up by 4% to Rs. 1,299 crore as against Rs.1,254 crore in H1FY16

  • EBITDA (excl. forex gain/loss) up by 3% to Rs .643 crore as compared to Rs.627 crore in H1FY16

  • PBT (excl. Forex gain/loss) up 2% at 493 crore vis-a-vis Rs.481 crore in the same period last year

 

 

 

 

Standalone

  • Net Sales up by 10% to Rs. 364 crore as against Rs.330 crore in H1FY16

  • EBITDA (excl. forex gain/loss) up by 13% at Rs. 194 crore as compared to Rs.172 crore in the corresponding period last year

 

 

 

Consolidated (continuing operations only) segmental results

 

 

Net Revenue

 

H1FY17

H1FY16

% growth

Q2FY17

Q2FY16

% growth

 Leisure – India

364

330

10%

140

126

11%

 Leisure – International

172

174

-1%

105

112

-6%

 Education

465

480

-3%

203

225

-10%

 Meininger

221

216

2%

111

119

-7%

 Others

77

54

43%

40

29

38%

 Total

 Camping Camping)

1,299

1,254

4%

599

611

-2%

 

 

 

EBITDA (excl. forex gain/loss)

 

H1FY17

H1FY16

% growth

Q2FY17

Q2FY16

% growth

 Leisure – India

194

172

13%

57

53

8%

 Leisure – International

82

99

-17%

69

73

-5%

 Education

272

274

-1%

113

121

-7%

 Meininger

108

105

3%

58

62

-6%

 Others

(13)

(23)

-43%

(9)

(9)

 Total

 Camping Camping)

643

627

3%

288

300

-4%

 

Management Comments

Peter Kerkar, Director, Cox and Kings Ltd. said, “Organic performance has been strong given the volatile geopolitical and macroeconomic environment. Indeed, the stable like-to-like financial performance is testament to the diverse, high-quality nature of our portfolio. Leisure – India, Education and Meininger will continue to drive growth in the medium term.

 

He further added, “De-monetisation announced by the Government is very positive for Cox & Kings as the key marketing tool used by the unorganized sector, i.e. taking unaccounted money and finding channels to reduce the visibility of illicit money when travelling abroad, have been rendered blunt.”

  

ABOUT Cox & Kings Ltd.: (BSE: 533144 | NSE: COX & KINGS)

Cox & Kings Ltd. (‘C&K’) is a leading leisure and education travel group with operations in 23 countries across 4 continents. It is one of the most experienced travel companies in the world, having been in operation since 1758. Headquartered in India, over the last three decades, C&K has transformed itself into a diversified, multinational travel conglomerate with a focus on the new-age global consumer. 

 

C&K operates in three key verticals; Leisure, Education and Hybrid Hotels.

 

Leisure – India is best known by the ubiquitous Cox & Kings brand in India, where we are an integrated travel enterprise, offering the best and widest range of travel options to individuals, groups and businesses in the fastest growing major economy in the world.

 

Leisure – International operates in multiple countries, mainly under the Cox & Kings brand, with a greater focus on premium-end travel.

 

Education operates under the brand names PGL and NST, among others. PGL and NST are market leaders in experiential learning in the UK and we intend to take these brands across the world; we have recently entered the Australian market.

 

We operate 16 hybrid hotels in Europe under the Meininger brand. Meininger has also signed a lease agreement for a 1,000 bed Hotel in Copenhagen and will take over the operation on January 1, 2017. Our unique selling proposition is that we can deliver the urban traveler a clean, safe, stay in a city-centre location at an affordable price. 

 

Cox & Kings is one of the founding members of the World Travel and Tourism Council (WTTC) and also the member of premier industry associations across the world. Over the years the company has won many awards that stand testimony to its excellence in service.

In 2016 the company has won a string of awards and amongst them are the World Travel Awards for Asia’s Leading luxury Tour Operator, India’s Leading Travel Agency and India’s Leading Tour Operator. It also won Hospitality India Travel Award for Best Domestic Tour Operator and Best Experiential Travel Company. Cox & Kings Trade Fairs was recognised as Champions of ChinaPlas for 2016, 4th time in a row. The company was also voted by Travel & Leisure, South Asia as the leading tour operator in India.

 

Our Executive Director Ms. Urrshila Kerkar won the Game Changer of the Year Award and our Director Mr. Peter Kerkar was honoured by the British Travel and Hospitality Hall of Fame in 2015. 

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