SINGAPORE, Aug. 26, 2024 /PRNewswire/ — Travel.com Workforce Restricted (Nasdaq: TCOM; HKEX: 9961) (“Trip.com Group” or the “Company”), a prominent one-stop go carrier supplier of lodging reservation, transportation ticketing, packaged excursions, and company go control, lately introduced its unaudited monetary effects for the second one quarter and primary part of 2024.

Key Highlights for the 2nd Quarter of 2024

• Home and world companies sustained expansion throughout all areas in the second one quarter of 2024

–  Lodging bookings at the Corporate’s Chinese language websites grew by way of roughly 20% pace over pace, basically pushed by way of tough expansion in each outbound and home go.

–  Outbound lodge and wind reservations recovered to 100% of the pre-COVID degree for a similar duration in 2019, surpassing the industry-wide fix charge of over 70% in relation to world flying capability.

–  General earnings of the Corporate’s world OTA emblem has greater by way of round 70% pace over pace.

• The Corporate completed excellent monetary efficiency in the second one quarter of 2024

–  Web earnings for the second one quarter grew by way of 14% pace over pace. 

–  Web source of revenue for the second one quarter of 2024 used to be RMB3.9 billion (US$535 million), in comparison to RMB648 million for a similar duration in 2023.

–  Adjusted EBITDA for the second one quarter used to be RMB4.4 billion (US$611 million). Adjusted EBITDA margin used to be 35%, stepped forward from 33% for a similar duration in 2023.

“The second quarter of 2024 witnessed continued growth driven by strong travel demand, especially for cross-border travel,” stated James Liang, Govt Chairman. “Our strong performance highlights our adaptability in a dynamic market. Looking ahead, we are dedicated to leveraging the potential of AI to revolutionize the travel industry and provide exceptional value to our customers.”

“We are pleased with our strong growth and the resilience of travel consumption in China,” stated Jane Solar, Well-known Govt Officer. “This promising outlook fuels our enthusiasm for innovation and new initiatives. By collaborating with our partners, we are well-positioned for even greater success.”

2nd Quarter of 2024 Monetary Effects and Trade Updates

For the second one quarter of 2024, Travel.com Workforce reported web earnings of RMB12.8 billion (US$1.8 billion), representing a 14% build up from the similar duration in 2023. Web earnings for the second one quarter of 2024 greater by way of 7% from the former quarter, basically pushed by way of more potent go call for, specifically all the way through the peace sessions.

Lodging reservation earnings for the second one quarter of 2024 used to be RMB5.1 billion (US$707 million), representing a 20% build up from the similar duration in 2023 basically pushed by way of an build up in lodging reservations. Lodging reservation earnings for the second one quarter of 2024 greater by way of 14% from the former quarter, basically pushed by way of more potent go call for, specifically all the way through the peace sessions.

Transportation ticketing earnings for the second one quarter of 2024 used to be RMB4.9 billion (US$670 million), representing a 1% build up from the similar duration in 2023. Transportation ticketing earnings for the second one quarter of 2024 diminished by way of 3% from the former quarter regardless of tough expansion in ticketing quantity, basically because of fluctuations of wind price ticket costs in the second one quarter of 2024.

Packaged-tour earnings for the second one quarter of 2024 used to be RMB1.0 billion (US$141 million), representing a 42% build up from the similar duration in 2023 basically pushed by way of an build up in packaged-tour reservations. Packaged-tour earnings for the second one quarter of 2024 greater by way of 16% from the former quarter, basically pushed by way of more potent go call for, specifically all the way through the peace sessions.

Company go earnings for the second one quarter of 2024 used to be RMB633 million (US$87 million), representing an 8% build up from the similar duration in 2023 basically pushed by way of an build up in company go reservations. Company go earnings for the second one quarter of 2024 greater by way of 24% from the former quarter, basically because of seasonality.

Price of earnings for the second one quarter of 2024 greater by way of 15% to RMB2.3 billion (US$318 million) from the similar duration in 2023 and greater by way of 3% from the former quarter, which used to be usually in layout with the rise in web earnings. Price of earnings as a share of web earnings used to be 18% for the second one quarter of 2024.

Product construction bills for the second one quarter of 2024 greater by way of 1% to RMB3.0 billion (US$412 million) from the similar duration in 2023 and diminished by way of 4% from the former quarter. Product construction bills as a share of web earnings used to be 23% for the second one quarter of 2024.

Gross sales and advertising and marketing bills for the second one quarter of 2024 greater by way of 20% to RMB2.8 billion (US$390 million) from the similar duration in 2023 and greater by way of 23% from the former quarter basically because of the rise in bills when it comes to gross sales and advertising and marketing promotion actions. Gross sales and advertising and marketing bills as a share of web earnings used to be 22% for the second one quarter of 2024.

Basic and administrative bills for the second one quarter of 2024 greater by way of 13% to RMB1.1 billion (US$148 million) from the similar duration in 2023 and greater by way of 16% from the former quarter, basically because of an build up basically and administrative group of workers alike bills. Basic and administrative bills as a share of web earnings used to be 8% for the second one quarter of 2024.

Source of revenue tax expense for the second one quarter of 2024 used to be RMB693 million (US$95 million), in comparison to RMB562 million for a similar duration in 2023 and RMB664 million for the former quarter. The exchange in Travel.com Workforce’s fine tax charge used to be basically because of the blended affects of adjustments in respective profitability of its subsidiaries with other tax charges, adjustments in deferred tax liabilities when it comes to withholding tax, sure non-taxable source of revenue or loss as a result of the truthful worth adjustments in fairness securities investments and exchangeable senior notes recorded in alternative source of revenue/(expense), and adjustments in valuation allowance equipped for deferred tax property.

Web source of revenue for the second one quarter of 2024 used to be RMB3.9 billion (US$535 million), in comparison to RMB648 million for a similar duration in 2023 and RMB4.3 billion for the former quarter. Adjusted EBITDA for the second one quarter of 2024 used to be RMB4.4 billion (US$611 million), in comparison to RMB3.7 billion for a similar duration in 2023 and RMB4.0 billion for the former quarter. Adjusted EBITDA margin used to be 35% for the second one quarter of 2024, in comparison to 33% for a similar duration in 2023 and for the former quarter.

Web source of revenue as a result of Travel.com Workforce’s shareholders for the second one quarter of 2024 used to be RMB3.8 billion (US$527 million), in comparison to RMB631 million for a similar duration in 2023 and RMB4.3 billion for the former quarter. Except for share-based reimbursement fees, truthful worth adjustments of fairness securities investments and exchangeable senior notes recorded in alternative source of revenue/(expense), and their tax results, non-GAAP web source of revenue as a result of Travel.com Workforce’s shareholders for the second one quarter of 2024 used to be RMB5.0 billion (US$686 million), in comparison to RMB3.4 billion for a similar duration in 2023 and RMB4.1 billion for the former quarter.

Diluted income in line with regular proportion and in line with ADS used to be RMB5.57 (US$0.77) for the second one quarter of 2024. Except for share-based reimbursement fees, truthful worth adjustments of fairness securities investments and exchangeable senior notes recorded in alternative source of revenue/(expense), and their tax results, non-GAAP diluted income in line with regular proportion and in line with ADS used to be RMB7.25 (US$1.00) for the second one quarter of 2024. Every ADS these days represents one regular proportion of the Corporate.

As of June 30, 2024, the steadiness of money and coins equivalents, limited coins, temporary funding, and held to adulthood date cupboard and fiscal merchandise used to be RMB99.0 billion (US$13.6 billion).

Providing of Money-par Settled Convertible Senior Notes

In June 2024, the Corporate finished an providing of US$1.5 billion in combination essential quantity of cash-par settled convertible senior notes due 2029 (the “Notes”), together with the preliminary shoppers’ complete workout of choice to buy an extra US$200 million in combination essential quantity of the Notes. The Notes are normal unsecured duties of the Corporate and endure pastime at a charge of 0.75% in line with pace.

The Notes ponder cash-par agreement upon conversion. Upon conversion, the Corporate pays coins as much as the mixture essential quantity of the Notes being transformed and feature the fitting to elect to determine the conversion attention for quantities in abundance of the mixture essential quantity the usage of coins, ADSs, or a mixture of money and ADSs.

Concurrent ADS Repurchase

At the same time as with the Notes providing, the Corporate repurchased roughly 6.0 million ADSs in an combination quantity of roughly US$300 million pursuant to its present proportion repurchase plans in off-market privately negotiated transactions effected thru a number of of the preliminary shoppers of the Notes or their associates as its agent.

Convention Name 

Travel.com Workforce’s control group will host a convention name at 8:00 PM on August 26, 2024, U.S. Japanese Month (or 8:00 AM on August 27, 2024, Hong Kong Month) following the announcement.

The convention name will probably be to be had survive Webcast and for replay at: https://investors.trip.com. The decision will probably be archived for three hundred and sixty five days on our website online.

All members will have to pre-register to fasten this convention name the usage of the Player Registration hyperlink beneath: 
https://register.vevent.com/register/BI1654b47de1924af88e8ea8e0351b2261

Upon registration, every player will obtain main points for this convention name, together with dial-in numbers and a singular get admission to PIN. To fasten the convention, please dial the quantity equipped, input your PIN, and you are going to fasten the convention straight away.

Guard Harbor Remark

This announcement comprises forward-looking statements. Those statements are made below the “safe harbor” provisions of the U.S. Non-public Securities Litigation Reform Employment of 1995. Those forward-looking statements will also be recognized by way of terminology corresponding to “may,” “will,” “expect,” “anticipate,” “future,” “intend,” “plan,” “believe,” “estimate,” “is/are likely to,” “confident,” or alternative matching statements. Amongst alternative issues, quotations from control on this press loose, in addition to Travel.com Workforce’s strategic and operational plans, include forward-looking statements. Ahead-looking statements contain inherent dangers and uncertainties. Plenty of notable elements may motive fresh effects to fluctuate materially from the ones contained in any forward-looking commentary. Doable dangers and uncertainties come with, however aren’t restricted to, unpleasant or extended downturn within the world or Chinese language financial system, normal declines or disruptions within the go {industry}, volatility within the buying and selling value of Travel.com Workforce’s ADSs or stocks, Travel.com Workforce’s reliance on its relationships and contractual preparations with go providers and strategic alliances, failure to compete in opposition to pristine and present competition, failure to effectively top wave expansion and possible past expansion, dangers related to any strategic investments or acquisitions, seasonality within the go {industry} within the related jurisdictions the place Travel.com Workforce operates, failure to effectively manufacture Travel.com Workforce’s present or past industry traces, injury to or failure of Travel.com Workforce’s infrastructure and generation, lack of products and services of Travel.com Workforce’s key executives, opposed adjustments in financial and industry situations within the related jurisdictions the place Travel.com Workforce operates, any regulatory trends in rules, rules, regulations, insurance policies or tips appropriate to Travel.com Workforce and alternative dangers defined in Travel.com Workforce’s filings with the U.S. Securities and Trade Fee or the Secure Trade of Hong Kong Restricted. All knowledge equipped on this press loose and within the attachments is as of the presen of the issuance, and Travel.com Workforce does no longer adopt any legal responsibility to replace any forward-looking commentary, excluding as required below appropriate regulation.

About Non-GAAP Monetary Measures

To complement Travel.com Workforce’s consolidated monetary statements, that are ready and introduced according to United States Most often Authorized Accounting Rules (“GAAP”), Travel.com Workforce makes use of non-GAAP monetary knowledge alike to adjusted web source of revenue as a result of Travel.com Workforce Restricted, adjusted EBITDA, adjusted EBITDA margin, and altered diluted income in line with regular proportion and in line with ADS, every of which is adjusted from essentially the most similar GAAP consequence to exclude the share-based reimbursement fees that aren’t tax deductible, truthful worth adjustments of fairness securities investments and exchangeable senior notes recorded in alternative source of revenue/(expense), web of tax, and alternative appropriate pieces. Travel.com Workforce’s control believes the non-GAAP monetary measures facilitate higher working out of running effects from quarter to quarter and serve control with a greater capacity to devise and forecast past sessions.

Non-GAAP knowledge isn’t ready according to GAAP, does no longer have a standardized which means below GAAP, and could also be other from non-GAAP modes of accounting and reporting worn by way of alternative firms. The presentation of this extra knowledge will have to no longer be thought to be an alternative choice to GAAP effects. A limitation of the usage of non-GAAP monetary measures is that non-GAAP measures exclude share-based reimbursement fees, truthful worth adjustments of fairness securities investments and exchangeable senior notes recorded in alternative source of revenue/(expense), and their tax results which were and can proceed to be vital routine bills in Travel.com Workforce’s industry for the foreseeable past.

Reconciliations of Travel.com Workforce’s non-GAAP monetary knowledge to essentially the most similar GAAP knowledge incorporated within the consolidated commentary of operations are incorporated on the finish of this press loose.

About Travel.com Workforce Restricted

Travel.com Workforce Restricted (Nasdaq: TCOM; HKEX: 9961) is a prominent world one-stop go platform, integrating a complete suite of go services and products and differentiated go content material. It’s the go-to vacation spot for vacationers in China, and an increasing number of for vacationers around the globe, to discover go, get impressed, produce knowledgeable and cost-effective go bookings, revel in hassle-free on-the-go backup, and proportion go revel in. Based in 1999 and indexed on Nasdaq in 2003 and HKEX in 2021, the Corporate these days operates below a portfolio of manufacturers, together with Ctrip, Qunar, Travel.com, and Skyscanner, with the challenge “to pursue the perfect trip for a better world.”

For additional knowledge, please touch:

Investor Family members
Travel.com Workforce Restricted
Tel: +86 (21) 3406-4880 X 12229
E mail: [email protected]

SOURCE Travel.com Workforce Restricted