Cox & Kings Ltd. 4Q FY17 EBITDA Up 81% y-o-y Rs. 92 Crores

Cox & Kings Ltd., the leading holidays and education travel group having operations in 22 countries today announced its financial results for the fourth quarter and full year ended March 31^st, 2017.

4QFY17 Highlights

Consolidated

• EBITDA (excl. forex gain/loss) from continuing operations increased by 31% y-o-y to Rs. 92 crores

• Meininger saw its EBITDA double y-o-y, while Visa Services business posted a profit

• EBITDA (excl. forex gain/loss) including discontinued operations increased by 81% y-o-y

• PBT (excl. forex gain/loss)before exceptional itemscame in at Rs. 27 crores despite being lean season

Standalone

• Net Revenues grew by a healthy 10% y-o-y to Rs. 144 crores

• EBITDA increased by 31% on robust year-end PLB incentives on the back of high business volume growth during the year

FY 17Highlights

Consolidated

• Gross revenuescame in at Rs. 7,176 crores in FY17, driven by strong growth in C&K India, C&K Dubai and Meininger

• EBITDA (excl. forex gain/loss) from continuing operations grew by 5% y-o-y to reach Rs. 851 crores despite the substantial depreciation of pound sterling (GBP) versus the rupee (a substantial proportion of C&K’s consolidated EBITDA is denominated in GBP)

• PBT (excl. forex gain/loss) before exceptional items increased by 18% from Rs. 489 crores to Rs. 577 crores

Standalone (substantially comprises Leisure – India business)

• Leisure – India gross revenueswere up by 9% to Rs. 3,117 crores in FY17 on the back of substantial growth in business volume. The outlook for travel remains robust

• EBITDA (excl. forex gain/loss) grew by 11% to Rs. 283 crores in FY17 as margins improved y-o-y despite intense price competition from both offline as well as online players

Management Comments

Peter Kerkar, Group CEO, Cox and Kings Ltd., said, “It has been a satisfying year. The financial results are testimony to the quality and diversity of our business. Our India business has once again grown ahead of the industry this year and we continue to demonstrate overwhelming margin leadership. Meininger rolled out 1,700 new beds within 90 days in the fourth quarter; we expect to add another 6,600 beds within the next 22 months. Our visa services business has also demonstrated a sharp turnaround this year. FY18 will see strong growth across all our divisions, especially Education, India and Meininger.”

Figures in Rs. crores

ABOUT Cox & Kings Ltd.: (BSE: 533144 | NSE: COX&KINGS)

Cox & Kings Ltd. (‘C&K’) is a leading leisure and education travel group with operations in 22 countries across four continents. It is one of the most experienced travel companies in the world, having been in operation since 1758. Headquartered in India, C&K has over the last three decades transformed itself into a diversified, multinational travel conglomerate with a focus on the new-age global consumer.

C&K operates in three key verticals; Leisure, Education, Hybrid Hotels.

Leisure—India is best known by the ubiquitous Cox & Kings brand in India, where we are an integrated travel enterprise, offering the best and widest range of travel options to individuals, groups and businesses in the fastest growing major economy in the world. www.coxandkings.com.

Leisure—International operates in multiple countries, mainly under the Cox & Kings brand, with a greater focus on premium-end travel. www.coxandkings.co.uk.

Education operates under the brand names PGL and NST, among others. PGL and NST are market leaders in experiential learning in the UK and we intend to take these brands across the world; we have recently entered the Australian market. www.pgl.co.uk, www.nstgroup.co.uk.

Meininger currently operates more than 8,500 beds across 17 hotels in 11 European cities. The unique hybrid concept of Meininger combines the service and comfort of a hotel with the uncomplicated nature of a hostel; top locations, high-quality amenities, flexible room structure and reasonable prices. www.meininger-hotels.com.

Cox & Kings is one of the founding members of the World Travel and Tourism Council (WTTC) and also a member of premier industry associations across the world. Over the years the company has won many awards which stand testimony to its excellence in service.

In 2016, the company won a string of awards and amongst them are the World Travel Awards for Asia’s Leading Luxury Tour Operator, India’s Leading Travel Agency and India’s Leading Tour Operator. It also won Hospitality India Travel Award for Best Domestic Tour Operator and Best Experiential Travel Company. Cox & Kings Trade Fairs was recognized as Champions of China Plas for 2016, fourth time in a row. Continuing with its winning legacy, Cox & Kings won the coveted SATTE Awards and Travel and Lifestyle Leadership Award for Best Outbound Tour Operator in 2017.