Expedia's Egencia maintained strong growth in the fourth quarter with gross bookings up 54 percent year over year to $955 million - Business Travel News

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February 06, 2013 - 09:40 AM ET

Expedia's Egencia maintained strong growth in the fourth quarter with gross bookings up 54 percent year over year to $955 million and revenue up 88 percent to $85 million. Adjusted earnings before interest, taxes, depreciation and amortization more than doubled to $13 million. For full-year 2012, the travel management company handled a 37 percent increase in gross bookings to $3.6 billion, a 63 percent in revenue and an 85 percent improvement in adjusted EBITDA to $53 million. All December-quarter and full-year growth rates dwarfed those reported for all of Expedia. Egencia's revenue in the December quarter accounted for 9.6 percent of total company revenue, up from 6.1 percent in the year-earlier period. In a Tuesday conference call with analysts, CFO Mark Okerstrom noted that quarterly growth in Expedia's overall air ticket volume and corporate travel fees was aided by the company's acquisition of Nordic TMC Via Travel in the second quarter of 2012.

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