Consolidated Gross & EBITDA Margins sustained

Key Highlights (Q1 FY25):

Consolidated Q1 FY25 PBT of Rs. 1073 Mn* Vs Rs. 914 Mn; 17% growth YoY
Thomas Cook (Standalone) PBT growth of 29% YoY at Rs. 740 Mn* Vs Rs. 574 Mn
Overseas Destination Management Companies reflect turnaround with EBITDA at Rs. 28 Mn Vs a loss of Rs. (44) Mn in Q1 FY24
The Group continues to maintain a strong financial position, adding Rs. 3.49 Bn during the quarter, with Cash & Bank balances at Rs. 18.67 Bn as of June 30, 2024
CRISIL upgrades Thomas Cook India’s Rating Outlook to ‘Positive’. Reaffirms Company’s Ratings at CRISIL AA-/Positive & CRISIL A1+
The PAT for the quarter has been impacted on account of a higher tax liability

Travel Services

Leisure Travel: Growth in sales 21% YoY for Q1 FY25
MICE: 20% Sales growth for Q1 FY25 (excluding one time contracts in Q1 FY24)
Corporate Travel transactions grew by 31% for Q1 FY25
India DMS: 58% Sales growth YoY for Q1 FY25
Overseas DMS: 26% Sales growth YoY for Q1 FY25

Forex

Launched EnterpriseFX card - India’s first eco-friendly prepaid corporate card
Retail growth: led by overseas education 21% YoY; holiday forex 10% YoY for Q1 FY25
Card loads increased 13% YoY

Hospitality (Sterling Holidays)

Growth in sales: 9% YoY for Q1 FY25
Occupancy at 69% for Q1 FY25
New resorts launched in Q1: Udaipur (3rd in Udaipur; 6th in Rajasthan) and Dehradun (6th in Uttarakhand).
Sterling continues to be debt- free company; with a strong cash position of over Rs. 2000 Mn
The PAT for the quarter has been impacted on account of a higher tax liability

Digital Imaging Solutions (DEI)

Q1 FY25: 13 new partnerships signed (UAE, Malaysia, Indonesia, Maldives, India, Bahrain, Macau)
Renewal of 8 key partnerships in Maldives, Indonesia, Thailand, UAE and Egypt
Operational launch of 10 partnerships in UAE, Saudi Arabia, Singapore, Indonesia and India

Mr. Madhavan Menon, Executive Chairman, Thomas Cook (India) Limited said, “Thomas Cook India has delivered a good all round performance for Q1 FY25 reporting a consolidated PBT of Rs. 1073 Mn (excluding non-operating MTM gains) that reflects a healthy 17% growth over Q1 FY24. This has been a result of a solid performance across our businesses, despite multiple headwinds during the period, including the Indian General elections - that delayed travel plans & heatwaves across most of the country. Our forward booking funnel indicates that we may have the benefits of an extended holiday season and are well poised to deliver sustainable growth in the quarters ahead.”

Highlights for FY23

· The Group’s Operating EBITDA grew significantly to Rs. 2.7 Bn for FY23 against a loss of Rs. 1.2 Bn in FY22. Growth driven by Foreign Exchange & Travel Businesses (Thomas Cook); Hospitality (Sterling Holidays)

· Highest Operating EBITDA & Operating PBT for Thomas Cook in a decade. Operating EBITDA at Rs. 1.2 Bn for FY23; Operating PBT at Rs. 560 Mn Vs a loss of Rs. 1.14 Bn in FY22

· Sterling Holidays registered Highest EBITDA & PBT since inception: EBITDA at Rs 1.1 Bn for FY23; PBT at Rs. 659 Mn Vs Rs. 436 Mn in FY22

· Consolidated Total Income from Operations grew YoY by 163% in FY23 to Rs. 51 Bn

· Robust growth across all business segments in FY23; Income from operations growth (YoY): Forex: 123%, Travel: 248%, Hospitality (Sterling Holidays): 36%, Digital Imaging Solutions (DEI): 72%

· Focus on Cost Optimization saw annualized savings of Rs.3.71 Bn for FY23, representing a 20% reduction in costs Vs FY20 (Pre Pandemic). The Group maintains a strong financial position, with Cash & Bank balances of Rs. 10.1 Bn as of March 31, 2023 Highlights for Q4 FY23

· The Group’s Operating EBITDA at Rs. 518 Mn Vs Rs. 239 Mn in FY22

· Standalone Operating EBITDA for TCIL at Rs. 205 Mn Vs Rs. 28 Mn for Q4 FY22

· For Q4 FY23 Consolidated Total Income from Operations grew by 150% YoY to Rs. 13.2 Bn