Edison Investment Research - On The Beach Group (OTB) On the Beach Group - Feeling festive

Report

Edison Investment Research

Kate Heseltine

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.

24/05/2024 1 EN

Underlying

On The Beach Group

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.

See profile

GB00BYM1K758 London Stock Exchange United Kingdom

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

See profile

Analysts

Kate Heseltine

Other Reports on these Companies

SmartInsider

On The Beach Group Plc: 1 director

A director at On The Beach Group Plc bought 2,823,862 shares at 88p and the significance rating of the trade was 76/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names o...

Free Trial

August 15, 2023 August 15, 2023 1 EN

Liberum

LIBERUM: UK Small & Mid Cap Dispatches

Ilika, ATOME Energy, Mitchells & Butlers, Ashtead Technology, On the Beach, Safestyle, SMID Market Highlights

May 18, 2023 May 18, 2023 1 EN

Singapore Post - Results boosted by M&A and reduced losses

Singapore Post’s H1 trading was ‘resilient’, despite challenging market conditions across several of its businesses. Revenue increased by 20%, mainly due to the inclusion of the March 2024 acquisition of Border Express. This fed through to operating profit growth, which was up more than 60%. Divisional profit performance was mixed due to a number of issues but benefit was generated from internal initiatives and the postal rate increase introduced last year. However, there was no new news of the ongoing review of the Australian business.

2h / 3m 2h / 3m 1 EN

Toby Thorrington

Toby Thorrington

Information Services Corporation - Continued momentum in earnings growth

Information Services Corporation (ISC) delivered another quarter of robust growth in Q324, with revenue advancing 12% y-o-y to C$60.9m and adjusted EBITDA rising 18% to C$22.7m. Net income remained relatively flat at C$4.2m (translating to C$0.23 basic and diluted EPS) as ISC’s strong operational performance was offset by increases in share-based compensation expenses, increased investment in project delivery within its Technology Solutions segment and elevated amortisation costs related to the Master Service Agreement (MSA) extension. Management reiterated its revenue (C$240–250m) and adjuste...

3h / 59m 3h / 59m 1 EN

Toby Thorrington

Toby Thorrington

Solid State - H1 trading in line; guidance unchanged

Management’s strategy is to increase Solid State’s internal capabilities, enabling greater product differentiation and value added, particularly in the Systems business. This is expected to increase the addressable market and growth along with offering higher returns, key to the margin target of 12% (FY25 expectation c 8%). Achieving this through organic and inorganic means underpins management’s 20% CAGR target for shareholder returns.

5h / 11m 5h / 11m 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

On the Beach Group - Feeling festive

On The Beach Group Plc: 1 director

LIBERUM: UK Small & Mid Cap Dispatches

Singapore Post - Results boosted by M&A and reduced losses

Information Services Corporation - Continued momentum in earnings growth

Solid State - H1 trading in line; guidance unchanged

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe