Sostravel.com Approves the Annual Financial Statement Draft as of December 31, 2023: Profit of €1.169 Million and Gross Booking Value Growth of 29.6%

Rhea-AI Summary

Sostravel.com S.p.A. announces strong financial performance with significant revenue growth and improved net results. The company exceeded EBITDA targets and confirms objectives for 2027. Gross Booking Value increased by 29.6% in 2024.

Below are the main financial and economic data:

• REVENUE: €19.527 million (compared to €17.118 million as of 31/12/2022) +14.07%
• EBITDA: €461,251 (compared to €23k as of 31/12/2022) +€438,219
• Adjusted EBITDA: €541,087 +€79,836 versus EBITDA
• EBIT: -€95,675, showing strong improvement (compared to -€673,828 as of 31/12/22)
• Net result: €1.169 million, significantly improved (compared to -€616k as of 31/12/2022)
• Adjusted NFP (net financial position) (cash): -€27k (*) (compared to -€761k as of 30/06/2023)
• Gross Booking Value (**) as of March 27, 2024, equal to €7.17 million (up by 29.6% compared to the same period in 2023)

(*) The minus sign indicates a positive cash balance.

(**) Off-balance sheet value of bookings received.

GALLARATE, Italy--(BUSINESS WIRE)-- Sostravel.com S.p.A. (Euronext Growth Milan: SOS and OTCQB New York: SOSAF), an Italian digital travel platform for bookings, itineraries, flight and airport information, car rental, experiences, and travel tech services including Lost Luggage Concierge and Dr. Travel, through the apps sostravel and flio as well as the platforms www.sostravel.com and www.amareitalia.com, ("SosTravel" or the "Company"), announces that the Board of Directors, meeting today, has approved the annual financial statement as of December 31, 2023.

Carmine Colella, CEO of Sostravel.com, commented: "The Gross Booking Value results as of March 27, 2024, amounting to 7.17 million Euros (an increase of 29.6%), and the services of the 'Passenger Services' business unit, which includes Lost Luggage Concierge and Dr. Travel, showing strong growth for the period, are the outcome of the performance of the dedicated team that we deployed in the fourth quarter of 2023, and the great success of the Private Label products in Sardinia and Kenya, which enable us to confirm the objectives of the Industrial Plan for 2027."

The Company has exceeded the EBITDA targets presented in the original version of the Plan published in February 2023. The Company therefore confirms the objectives of the Industrial Plan for 2027, as summarized below:

KPIs €	2024E	2025E	2026E	2027E
Revenues	20,9M	25M	29M	32,5M
Growth YoY %	7,6%	19,4%	15,7%	12,0%
EBITDA	1,29M	2,17M	3,15M	3,83M
EBITDA margin %	6,2%	8,7%	10,9%	11,8%
PFN (cash)	(1,57M)	(2,61M)	(4,50M)	(4,89M)

Download the full Press Release on the IR website of Sostravel.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20240401973239/en/

SosTravel.com S.p.A.

Investor Relations

investor.relations@sostravel.com

www.sostravel.com

Source: Sostravel.com S.p.A.

FAQ

What is the revenue growth for Sostravel.com S.p.A. in 2023 compared to 2022?

The revenue for Sostravel.com S.p.A. in 2023 was €19.527 million, showing a 14.07% increase from €17.118 million in 2022.

What is the EBITDA for Sostravel.com S.p.A. in 2023 compared to 2022?

The EBITDA for Sostravel.com S.p.A. in 2023 was €461,251, a significant improvement from €23,000 in 2022.

What is the net result for Sostravel.com S.p.A. in 2023 compared to 2022?

The net result for Sostravel.com S.p.A. in 2023 was €1.169 million, a significant improvement from -€616,000 in 2022.

What is the Gross Booking Value increase for Sostravel.com S.p.A. in 2024?

The Gross Booking Value for Sostravel.com S.p.A. in 2024 was €7.17 million, up by 29.6% compared to the same period in 2023.

What are the key objectives of the Industrial Plan for Sostravel.com S.p.A. in 2027?

The key objectives of the Industrial Plan for Sostravel.com S.p.A. in 2027 include revenue growth, EBITDA targets, and PFN (cash) projections.