Rainbow Tours (RBW) Q3 2024 earnings summary

Executive summary

• Achieved record consolidated sales revenue of PLN 3,344.1 million for the first three quarters of 2024, up 23.9% year-over-year, with net profit rising 54% to PLN 260.1 million.

• Parent company sales revenue increased 25.2% to PLN 3,301.1 million, with net profit up 65.8% to PLN 243.8 million for the same period.

• Significant growth in advance sales for both Summer 2024 (+22.8%) and Winter 2024/2025 (+13.6%) compared to prior year.

• Expansion of hotel operations in Greece, including acquisition of a new hotel property on Kos and ongoing investments in existing properties.

Financial highlights

• Consolidated gross profit on sales reached PLN 632.3 million (up 32.8%), with a margin of 18.9%.

• EBITDA for the group was PLN 343.9 million, up from PLN 226.6 million year-over-year.

• Net margin improved to 7.8% from 6.3% in the prior year.

• Cash and cash equivalents at period end were PLN 417.2 million; total financial debt decreased to PLN 65.9 million.

• Dividend payments for 2023 totaled PLN 91.5 million, with an advance dividend of PLN 48.5 million declared for 2024.

Outlook and guidance

• Management expects continued strong sales momentum, supported by robust advance bookings and expansion of hotel operations.

• No official forecasts published for 2024, but positive trends in sales and profitability are anticipated.