Saga Reveals Initial Financial Performance Results
aga Group has announced its unaudited preliminary results for the year ending January 31, 2025, reporting strong trading performance and significant strategic progress.
Mike Hazell, Saga’s Group chief executive officer, said: “I’m very pleased with the progress Saga has made over the past 12 months. From a trading perspective, we delivered a strong performance, with total underlying profit before tax up 25 percent and ahead of previous guidance. This was driven by the strength of our Travel businesses, with especially high levels of customer demand for our differentiated ocean and river cruise offers.”
In the travel division, the leadership structure has been consolidated, with Nigel Blanks, formerly CEO of the Cruise business, now overseeing both the Cruise and Holidays businesses. This restructuring aims to enhance customer offerings and operational synergies across both segments.
Ocean Cruise
The company’s Ocean Cruise business reported an Underlying Profit Before Tax of £48.9m, a 38% increase when compared with the £35.5m in the previous year.
Underlying Revenue2 increased 10% to £236.7m, supported by a load factor of 91% and per diem of £357, a 3ppt and 8% increase, respectively, when compared with last year.
Following another exceptional year, Trading EBITDA increased 19%, to £89.2m, compared with £74.8m in 2023/24.
River Cruise
River Cruise reported an Underlying Profit Before Tax of £4.0m, a 33% increase, when compared with the £3.0m reported in the previous year.
River Cruise revenue, of £49.4m, was 13% higher than the prior year, supported by a load factor increase, from 85% to 89%, and a per diem increase, from £285 to £326.
Key highlights include:
- Underlying Revenue: £768.2m (up 5 percent from £732.7m)
- Revenue: £588.3m (up 4 percent from £564.6m)
- Trading EBITDA: £137.1m (up 18 percent from £116.5m)
- Underlying Profit Before Tax: £47.8m (up 25 percent from £38.2m)
- Underlying Profit Before Tax (continuing operations): £37.2m (up 8 percent from £34.3m)
- Loss Before Tax: (£160.2m), compared to (£123.8m)
- Available Operating Cash Flow: £109.6m (down 24 percent from £143.8m)
- Net Debt: £590.5m (down 7 percent from £637.2m)
- Leverage Ratio: 4.7x (improved from 5.4x)
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