Leisure Hospitality (Sterling Holidays) Digital Imaging Solutions (DEI)
Digital Imaging Solutions (DEI)
– Sales growth: 20% for FY24
– EBITDA surged by 24% for FY24; a remarkable 42% YoY for Q4 FY24
– Q4 FY24 witnessed the addition of 17 new partnerships signed in UAE, Saudi Arabia, Malaysia, India, Singapore, Indonesia, Maldives
– Renewal of 22 key partnerships in UAE, Malaysia, Singapore, Indonesia, India, Macau, Maldives, and Thailand
– Operational launch of 8 partnerships in UAE, Malaysia, Indonesia, and India
Leisure Travel
– Sales growth: 89% YoY for FY24; 42% YoY for Q4 FY24 across Thomas Cook & SOTC
– MICE: 46% Sales growth for FY24
– Corporate Travel transactions increased by 18% for FY24; 13% for Q4 FY24
– India DMS: 129% growth in turnover for FY24; 96% YoY for Q4 FY24
– Overseas DMS grew by 26% YoY for FY24; 16% YoY for Q4 FY24
Forex
– Sales growth: 24% YoY for FY24; 6% YoY for Q4 FY24
– Retail growth: 19% for FY24; 18% YoY for Q4 FY24
– Holiday sales growth: 88% for FY24; 26% for Q4 FY24
– Overseas Education growth: 14% for FY24; 24% YoY for Q4 FY24
– Card loads: 35% for FY24; 21% YoY for Q4 FY24
– New prepaid card issuance increased by 23% for FY24; 5% YoY for Q4 FY24
Hospitality (Sterling Holidays)
– Sales growth: 24% for FY24; a remarkable 39% YoY for Q4 FY24
– Significant growth in PBT: 83% FY24; 113% YoY for Q4 FY24
– Occupancy at 58% for Q4 FY24 with room capacity growth of 12% during this period
– New resorts launched in Q4 FY24: Sariska, Pushkar & Athirapilly
– Sterling is now a debt-free company; cash reserves increased to Rs. 158 Mn
Key Highlights (FY24):
– Consolidated PBT at Rs. 3,449 Mn Vs Rs. 262 Mn
– EBITDA Margin improvement by 297 bps YoY
– EPS grew from Re. 0.10 to Rs. 5.57 for FY24
Key Highlights (Q4 FY24):
– Consolidated PBT at Rs. 607 Mn Vs a loss of Rs. (62) Mn in FY23
– EBITDA Margin improvement by 355 bps
Mr. Madhavan Menon, Executive Chairman, Thomas Cook (India) Limited, expressed, “Thomas Cook India Group has delivered record profits for both the quarter and FY24. What makes this even more special is that every business and geography has contributed to the profitability. My appreciation and congratulations to all our teams, customers, partners, and shareholders for making this possible.”
Business Segment-wise Performance:
1. Foreign Exchange
2. Hospitality (Sterling Holidays)
– Resorts grew from 40 in FY23 to 48 in FY24. 20 additional resorts in the pipeline, in 15-18 months (~900 rooms)
– Current network: 2,762 rooms vs. 2,420 rooms as of FY23
– Occupancy: Sustained at 61% for FY and 58% for Q4 FY24 (Vs the same corresponding period of the previous year)
– F&B spends grew by 9% YoY in Q4 FY24 as well as FY24
– Guest Ratio: Q4 FY24 improved by 9% (71% in Q4 FY24 Vs. 62% last year); FY24 improved by 7% (69% in FY24 Vs.62% last year)
– Improved cash generation has enabled Sterling to be a debt-free entity
– ARR up by 8% in Q4 FY24 and up by 2% in FY24
– Trip Advisor Traveler’s Choice Awards Best of the Best for 2nd consecutive year
3. Travel Services
– Corporate Travel
– MICE
– Leisure Travel
– Destination Management Services (DMS) Network