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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  On the Beach Group plc    OTB   GB00BYM1K758

ON THE BEACH GROUP PLC

(OTB)
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On Beach : sees more pain as Europe imposes fresh virus curbs

11/09/2020 | 03:11am EST

(Reuters) - Holiday package provider On The Beach said on Monday more than 90% of bookings were cancelled on average over the summer, and pointed to more pain ahead as rising coronavirus cases prompt a fresh round of restrictions across Europe.

Nationwide lockdowns in France, Germany and Britain, as well as other curbs in other European countries, have led to airlines slashing their flights for autumn. TUI, the world's largest travel company, has already reduced capacity for the winter season.

On The Beach said it recorded exceptional costs of 10 million pounds ($13.18 million) in the second-half, and expects it to total 45 million pounds for the year.

The company said that annual adjusted pretax profit was at breakeven levels, ahead of what Peel Hunt and Stifel analysts had expected.

The UK-based online travel agent said leisure had picked up with airspaces opening up in July. "This freedom was short-lived and the subsequent impact on consumer confidence has led to significant reductions in seat capacity over the winter," it said.

OTB said the impact had been exacerbated by England's four-week ban on international leisure travel, which began last week.

The company said booking volumes were down 75% and 53% in the third and fourth quarter, respectively.

(Reporting by Tanishaa Nadkar in Bengaluru; Editing by Ramakrishnan M.)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ON THE BEACH GROUP PLC -2.45% 339 Delayed Quote.-6.71%
TUI AG -2.78% 3.811 Delayed Quote.23.94%
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Financials
Sales 2021 106 M 145 M 145 M
Net income 2021 2,30 M 3,14 M 3,14 M
Net cash 2021 62,6 M 85,7 M 85,7 M
P/E ratio 2021 47,1x
Yield 2021 0,12%
Capitalization 534 M 732 M 731 M
EV / Sales 2021 4,44x
EV / Sales 2022 2,96x
Nbr of Employees 500
Free-Float 94,7%
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Technical analysis trends ON THE BEACH GROUP PLC
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Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 401,11 GBX
Last Close Price 3,39 GBX
Spread / Highest target 14 649%
Spread / Average Target 11 732%
Spread / Lowest Target 9 045%
EPS Revisions
Managers and Directors
NameTitle
Simon Matthew Cooper Chief Executive Officer & Director
Richard John Pennycook Non-Executive Chairman
Shaun Morton Chief Financial officer & Director
Stefan Nordin Chief Technology Officer
David Thomas Kelly Senior Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
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CORPORATE TRAVEL MANAGEMENT LIMITED-5.09%1 755
CINEWORLD GROUP PLC14.10%1 379