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Hostelworld - Results beat forecasts, debt down

March 2024

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • HSW
  • Price:
  • 144p
The shares jumped to a new high of 149p after Hostelworld said EBITDA for FY23 will be c.€18.3m, above its previous range of €17.5m-18m. The CEO noted that Hostelworld took market share throughout the year and revenue increased 32% to €93.7m. Net bookings rose 37% year-on-year to 6.5m, in spite of a 4% reduction in average booking value reflecting a rising proportion of lower priced Asian bookings. A key prop to rising profitability has been lower marketing, which reduced by 8% to 50% of revenue, driven by its social strategy (see main write-up in October’23 issue) Reduced year-end net debt of €12.3m from €21.2m a year ago comfortably beat forecasts (Goodbody net debt: €16.7m) driven by slightly higher earnings and better than exp ...

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