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OTB On The Beach Group Plc

0.00 (0.00%)
22 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
On The Beach Group Plc OTB London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.00% 153.40 01:00:00
Open Price Low Price High Price Close Price Previous Close
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Industry Sector

On The Beach OTB Dividends History

Announcement Date Type Currency Dividend Amount Ex Date Record Date Payment Date

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Top Posts
Posted at 18/4/2024 07:53 by mrnumpty
EasyJet reported figures this morning and commentators on the Company’s chat sites seem very happy , especially with the new EasyJet Holidays part of the Company , which is seen as a threat to OTB , but whose success might also be taken as an indicator that OTB is doing well .
Posted at 04/3/2024 10:53 by trying2trade
OTB have relatively little control of their own product. OTB like almost everyone in the sector is very nervously watching EZJ and their holidays offering.
Posted at 28/2/2024 19:36 by darrin1471
When I looked at OTB last year, most of the last minute holidays were using Ryanair. I have just looked at 20 OTB holidays from various airports and none of them were using Ryanair.
I had read that Ryanair were calling online travel agents "pirates" but had not paid much attention until yesterday's announcement.
A quick search and I found "Ryanair has claimed that On The Beach is 'the number one pirate"

All well and good. Ryanair and OTB have made up and struck a deal.
But who will be the winner in this deal? Who needs who the most? Ryanair are notoriously tough negotiators. No doubt in my mind that Ryanair have got a good deal.
What is the cost to OTB. A worse deal than when they were "pirates"? No winter flights with Ryanair. If others like can't do a deal then OTB may end up with an advantage.
Posted at 27/2/2024 09:31 by undervaluedassets
Huge news today.

Look at the share price performance of RYA.

OTB has today gone from an adversarial relationship with Ryanair to a co-operative with a stroke of the pen.

Huge news for OTB
Posted at 27/2/2024 07:02 by hamhamham1
RNS Number : 5207E
On the Beach Group PLC
27 February 2024

27 February 2024

On the Beach Group plc

("On the Beach" or the "Group")

Partnership with Ryanair

On the Beach Group plc (LSE: OTB.L) is delighted to announce that it has signed a long-term distribution agreement with Ryanair Holdings ("Ryanair").

The agreement represents a transformational shift in OTB's relationship with its most significant low cost carrier. It enables OTB customers to seamlessly access Ryanair's low fare flights as part of their holiday packages with full price transparency, whilst continuing to benefit from OTB's flexible payment plans, customer perks (including free lounge and fast track), and ATOL protection. In summary, the agreement:

- secures OTB free and fair access to Ryanair seat supply;

- facilitates a smoother customer journey when booking Ryanair flights as part of an OTB package;

- simplifies OTB operations while enabling greater focus on areas of strategic value; and

- enables the parties to move on from the outstanding litigation and focus efforts on building the partnership

Shaun Morton, CEO of On the Beach Group plc said:

"We are excited to have entered into this transformational partnership with Ryanair. This will improve the booking and travel experience for our customers selecting Ryanair flights, while ensuring we can continue to provide customers with best value package holidays. We will continue our campaign to safeguard consumer choice in the travel sector and the signing of this agreement marks a significant milestone in On the Beach's journey, as we strive to do the best for our customers. Importantly, this agreement enables both parties to move on from outstanding litigation and we look forward to working closely with our new partner."

Ryanair's Dara Brady said:

"Ryanair is pleased to announce our latest partnership with leading OTA, On the Beach. This new deal will see Ryanair partner with its fourth approved OTA partner. On the Beach customers can now book Ryanair flights, seats, and bags as part of their holiday package with the guarantee that they will have full price transparency of Ryanair products (without any overcharges), and that they will receive any information regarding their flight directly from Ryanair as well as having direct access to their booking through their myRyanair account."
Posted at 14/2/2024 08:25 by elsa7878
Reasons for caution.

1) Competition in the OTA space is fierce and while OTBs growth rates have been impressive, others eg Love Holidays are growing much faster and have a much higher planned growth rate (95%).
2) OTA's are seeing increased access resistance from airlines eg Ryanair. OTA's model is very sensitive to seat availability.
3) EasyJet holidays now making over £100m PAT profit and with it's much deeper pockets can easily outspend OTB. It also planning huge capacity increases of circa 35%.
4) OTB sacrificing margin for bookings. Is that sustainable (see 3 above). Consensus estimates for OTB came down throughout substantially in 2023 while they were going up for easyJet, Jet2 etc.
5) Airlines and tour operators that control inventory benefit from higher fare prices through higher operational gearing. OTA's package fares at cost so higher fares would normally mean lower bookings.
Posted at 13/2/2024 21:56 by darrin1471
OTB used to trade in the high teens when they were on a high growth multiple. Historically higher revenue was due to higher volumes of travelers rather than today where higher revenue comes from higher average prices.

"Group cash, excluding amounts held in trust, of GBP75.8m (30 September 2022: GBP64.5m)"
So group cash grew £11.3m in 12 months compared to a market cap of £241m with no dividend paid.

"The cash flow profile of the Group is seasonal with approximately 50% of customers travelling in the period June to August and therefore in a normal year the cash flows experience a trough prior to June and a peak following this. As a result the available credit facilities are only utilized for a short period, in FY23 being between January and June."
So when valuing OTB do you take the £76m cash they have at the end of September or the debt they owe at the end of May (up to £60m banking facility). Average cash or debt could be a fair figure but I don't see that figure. I would of thought OTB has a small cash balance when averaged out over the year.
Posted at 13/2/2024 19:24 by adamb1978
OTB are performing very well at the moment based on their recent TS. Its easy to hypothesise about impact of one company on another but very very easy to get those wrong.

They're on a PE of 10x Sept-23 and have net cash even at the seasonal low point I believe now. They used to trade on high-teens.

Investing is about probability weighted bets rather than anything ever being a sure thing, and IMO that sort of multiple for OTB gives a great chance of decent gains via earnings growth combined with multiple appreciation. I think there's 100% upside potential in 2-3 years

19p EPS forecast for Sept-26. Put that on 15x and you get 285p vs 145p now (plus add in 3p-4p divis p.a. too)
Posted at 13/2/2024 18:40 by darrin1471
A counter argument would be that if TUI, Easyjet and JET2 are doing so well selling an end to end package using their own planes and hotels then that may leave less capacity and lower margins for 3rd party sellers like OTB.
OTB has not existed through a full business cycle but I think OTB may do well during a downturn when there is a lot of spare flight and hotel capacity.(ignoring Covid cycle)
Posted at 01/8/2023 19:24 by darrin1471
OTB, EZJ and JET2 are all down around 10% over the last month. Over 12 months OTB are down 13% EZJ up 14% and JET2 up 25%.
EZJ and JET2 are both expanding their UK holidays into Europe and like OTB are online only.
Easyjet, Tui and Jet2 all have their own planes. When they have high passenger loadings they have less spare capacity available to sell to OTB.
What was surprising was the OTB rally from £1 to £1.90. I have posted multiple times here that I think OTB has a fair value of £1 and nobody has given a reason why it should be higher.
Current downtrend since YTD highs continues the trend line going back to the high in March 2021
I hold no position in OTB at the moment but may try a small trade for a bounce back to 50ma. I think low 80's is a better entry point towards the end of the month.

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