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Press Release-Results Q3 - FY13

Cox & Kings Ltd - Earnings Update Q3FY13



Mumbai, 8th February 2013: Cox & Kings Ltd the leading holidays and education travel group having operations in 26 countries across continents today announced its financial results for the third quarter and nine months ending December 31st , 2012.

Q3FY13 Highlights:

  • Consolidated Net Sales stood at Rs. 357 crores as against Rs 285 crore in Q3FY12 and standalone Net Sales stood at Rs. 84 crores as against Rs 59 crore in Q3FY12
  • Consolidated EBITDA stood at Rs. 48 crores as against Rs 23 crore and standalone EBITDA stood at Rs. 37 crores as against Rs 22 crore
  • Consolidated PAT at Rs. 3 crores as against loss of Rs 8 crore.
  • Consolidated EBITDA margin for the period is at 13% as against 8% and standalone EBITDA margin is at 44% as against 38%
  • Consolidated EPS for the period is at Rs. 0.24 as against Rs (0.55) and standalone EPS is at Rs 1.04 as against Rs 1.59


9MFY13 Highlights:

  • Consolidated Net Sales stood at Rs. 1,578 crores as against Rs 577 crore in 9MFY12 and standalone Net Sales stood at Rs. 287 crores as against Rs 215 crore in 9MFY12
  • Consolidated EBITDA at Rs. 675 crores as against Rs 147 crore and standalone EBITDA at Rs. 145 crores as against Rs 100 crore
  • Consolidated PAT at Rs. 298 crores as against Rs 58 crore and standalone PAT at Rs. 46 crores as against Rs 71 crore
  • Consolidated EBITDA margin for the period is at 43% as against 25% and standalone EBITDA margin is at 51% as against 47%
  • Consolidated EPS for the period is at Rs. 21.81 as against Rs 4.23 and standalone EPS is at Rs 3.33 as against Rs 5.17
Post Holidaybreak acquisition, Cox & Kings now operates across three major travel categories - Leisure Tours, Education Travel and Camping Holidays. FY13 would be the first full year of consolidating Holidaybreak Ltd. Below is a breakup of the revenue and EBITDA for Q3 FY13 across the three travel categories -

(Figures in INR Cr)

Revenue EBITDA
Q3FY13 Q3FY12 Q3FY13 Q3FY12
Leisure 275 206 83 65
Education 78 73 -7 -4
Camping 0 0 -26 -36
Others 4 6 -3 -2
Total Q3FY12 285 48 23


Management Comments:

Peter Kerkar, Director, Cox and Kings Ltd said, "We have achieved good growth both in our domestic and international businesses. The integration of Holidaybreak with Cox and Kings will strengthen our existing P&L. The travel industry has been performing well and we are poised to capture on this growth, and grow at a robust pace."

About Cox And Kings Ltd: (Bse: 533144 | Nse: Cox&Kings)

Cox & Kings Ltd. is the longest established travel company in the world since 1758. Headquartered in India, it is a premium brand in all travel related services.

Cox & Kings operates across 4 continents and 25 countries. In India, Cox & Kings has 12 branch sales offices and 150 Franchisee located across the country.

Cox & Kings is amongst the largest players with its range of specialist options. Innovative packaging, pricing and marketing have been the hallmarks of its success over the years.

In India, the company has a robust domestic business under the brand name Bharat Deko. Its Corporate Travel division services over 200 corporate clients, including major domestic and multinational companies. The company also specialises in Trade Fairs and is a leading MICE operator out of India.

Cox & Kings is amongst the major Foreign Exchange providers in the country, placing it in league with Authorized Dealers like Foreign Exchange Nominated Banks to cater to the requirements of a whole host of customers. It has recently been granted permission to operate Nostro Accounts.

The Outbound Tours are segregated into Duniya Dekho (escorted tours), FlexiHols (customised tours), Luxury Escapades (unique & luxurious travel) & NRI (catering to Indians across the world).

Cox & Kings Ltd acquired in 2011, Holidaybreak, an education and activity travel group that has more than 15 long-established and widely recognised brands. Holidaybreak provides educational and activity trips for school children; worldwide adventure holidays; short breaks in the UK and Europe & mobile-home and camping holidays on sites throughout Europe.

Over the years the company has won many awards that stand testimony to its excellent service. Recently, the company has been conferred with "Best Outbound Tour Operator 2012" awarded by CNBC Awaaz; 'Best Outbound Tour Operator' awarded by Hospitality India & Explore the World Annual International Awards 2012; Best Travel Company for 2012 and the Best Domestic Tour Operator by the Travel Agents Association of India (TAAI); Best International Tour operator for Wildlife of the Year 2012 by The Travel Operators for Tigers (TOFT); 'Best Luxury Operator' at the 2012 Globe Travel Awards & PATA Gold Award 2012 in the Marketing Media - Consumer Travel Brochure (BR) category for its entry, "Luxury Escapades".

For further details on this release, please contact:

Cox & Kings Ltd
Mr. Thomas C Thottathil
AVP - Corporate Communications
thomasct@coxandkings.com
Tel: 91-22-22637500
Adfactors PR, Mumbai
Neha Goenka/ Shrinkhala Varma
Tel: 91- 22- 67574444