Page 80 - Gondwana Collection Namibia Value Creation Report 2021

PROFIT: SUSTAINING OUR IMPACT

Booking sources – 2020 (%) Group statement of profit and loss and other comprehensive income
For the year ended 31 October 2021

25 Namibian Gondwana Card holders
2022
Budget 2021 2020 2019 2018 2017
2 SADC Gondwana Card holders
N$’000 % N$’000 % N$’000 % N$’000 % N$’000 % N$’000
15 Direct reservations/online Guests (’000) 190 126 84 5 80 (64) 225 (0.4) 226 1 223
Revenue 474 812 189 164 053 7 153 466 (66) 446 388 17 380 408 30 291 870
9 Online travel agents Cost of sales (130 846) 166 (49 181) 2 (48 297) (62) (126 159) 14 (110 386) 78 (62 083)
Gross profit 343 966 199 114 872 9 105 169 (67) 320 229 19 270 022 18 229 787
30 Trade groups Gross profit (%) 72 3 70 2 69 (4) 72 1 71 (10) 79
Other income – (100) 8 091 (16) 9 614 64 5 868 59 3 693 (34) 5 597
343 966 180 122 963 7 114 783 (65) 326 097 19 273 715 16 235 384
19 Trade independent travellers
Operating expenditure (230 482) 42 (162 370) (18) (197 307) (7) (211 568) 19 (177 626) 27 (140 229)
Movement in credit loss
allowance – – 549 (182) (666) – – – – – –
EBITDA 113 484 392 (38 858) (53) (83 190) (173) 114 529 19 96 089 1 95 155
EBITDA (%) 24 – (24) (56) (54) (308) 26 4 25 (23) 33
Operating expenditure
Booking sources – 2021 (%) – depreciation and
amortisation (32 081) 0.4 (31 964) 9 (29 219) 46 (20 064) 70 (11 802) (11) (13 335)
Operating profit (EBIT) 81 402 215 (70 822) (37) (112 408) (219) 94 465 12 84 287 3 81 820
Investments income 20 25 16 (92) 208 (92) 2 495 92 1 297 – –
37 Namibian Gondwana Card holders
Other non-operating (loss) – – (12 304) – – – – – – – –
Net finance cost (37 293) 15 (32 319) 29 (25 088) 21 (20 808) 45 (14 368) 3 (13 920)
5 SADC Gondwana Card holders
Share of profit of joint
venture – (100) (34) (115) 229 – – – – – –
18 Direct reservations/online
Profit/(loss) before taxation 44 129 138 (115 463) (16) (137 060) (280) 76 152 7 71 216 5 67 900
Taxation (14 121) (144) 31 974 (27) 43 664 (284) (23 793) 4 (22 775) 2 (22 398)
7 Online travel agents Profit/(loss) for the year 30 008 136 (83 489) (11) (93 396) (278) 52 359 8 48 441 6 45 502
Other comprehensive
9 Trade groups income – – – (100) 29 632 – – – – – –
Total comprehensive
income/(loss) 30 008 136 (83 489) 31 (63 763) (222) 52 359 8 48 441 6 45 502
24 Trade independent travellers
Dividend declared – – – – – – 17 500 9 16 100 9 14 800
EBITDA ratio
Total long-term liabilities
(excluding deferred tax
We use booking source allocations to measure liability) 307 206 (5) 323 211 (0.4) 324 565 83 177 098 (3) 182 489 45 125 647
the origin and category of our guests.
Ratio to total EBITDA 2.71 133 (8.32) 113 (3.90) (352) 1.55 (18) 1.90 44 1.32

Note: % year-on-year increase or (decrease).

76 VALUE CREATION REPORT 2021 GONDWANA COLLECTION NAMIBIA 77