HLO flags “recovery on the horizon” amid release of Q3 results.
Helloworld has reported a Total Transaction Value (TTV) of $261.5 million for the quarter ending 31 March, a 79.6% drop on the same period last year, but a mild increase of $5.4 million on the three months ending 31 December 2020.
Revenue for the last quarter was recorded at $15 million, as well as a revenue margin of 5.7%, while HLO also delivered an Underlying EBITDA decrease of $4.4 million during the same period.
Helloworld noted that its TTV had slowly started to improve throughout the quarter after being hampered significantly in January and early February due to travel restrictions, while the company’s cash balance at the end of March was $125.9 million.
HLO is forecasting a return to a positive EBITDA by the December quarter, citing the introduction of select travel bubbles as a key driver.
More details in today’s issue of Travel Daily.