Hostelworld Group PLC - Dublin-based hostel booking company - Records revenue of EUR51.5 million for the six months ended on June 30, up 57% year-on-year. Net revenue was EUR28.0 million for the same period a year earlier. Reports net bookings of 3.4 million, up 64% year-on-year. Says this is driven by strong performances in key European, Asian and Oceania markets. Looking ahead, the firm backs earnings guidance of adjusted earnings before interest, tax, depreciation and amortisation in the range of EUR16.5 million to EUR17 million for 2023. For 2022, adjusted Ebitda was just EUR1.3 million.
Chief Executive Officer Gary Morrison says: "I am very proud of our performance for the year to date. In particular, I am delighted that we have delivered record generated revenues and improving Ebitda margins driven by our differentiated social growth strategy and a continuing focus on operational excellence and cost discipline."
In March, the firm said pretax loss was EUR17.9 million for 2022, narrowing from EUR36.7 million the year prior as full-year revenue multiplied to EUR69.7 million from EUR16.9 million in 2021.
Current stock price: 125.00 pence each, up 3.3% on Wednesday morning in London
12-month change: up 36%
By Xindi Wei, Alliance News reporter
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Hostelworld (HSW)