On the Beach Group - Feeling festive
The increase of 22% in booked total transaction value (TTV) both in H124 and for this summer, driven by successful expansion into premium and long haul and backed by its pioneering perks, confirm On the Beach’s (OTB’s) progress in addressing a market it estimates to be 5x more valuable than its core Value (3*) business (now just 25% of bookings) as well as more dynamic. Another ‘very big deal’ for OTB is its new ‘transformational’ partnership with Ryanair, its most significant low-cost carrier, ensuring free and fair access to seat supply and marking a more positive relationship, given outstanding litigation on historical refunds. With improved operational leverage yielding a near doubling of adjusted EBITDA in its seasonally quieter H124, OTB expects to meet FY24 market forecasts thanks to similar H2 dynamics, bolstered by B2B restructuring.On The Beach Group is an online retailer of beach holidays. Co. is engaged as an online travel agent. Co. has two reportable segments: Core and International. The Core segment's activity is conducted via U.K. websites (www.onthebeach.co.uk, www.sunshine.co.uk and www.onthebeachtransfers.co.uk). The International segment conducts its activity via Swedish and Norweigan websites (eBeach.se and eBeach.no). In each of the U.K. Segment and the International Segment, Co. provides packaged holidays but with options to book single element products such as flights or hotels.
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