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0000950152-09-000072.txt : 200901070000950152-09-000072.hdr.sgml : 2009010720090107080220ACCESSION NUMBER:0000950152-09-000072CONFORMED SUBMISSION TYPE:8-KPUBLIC DOCUMENT COUNT:19CONFORMED PERIOD OF REPORT:20090107ITEM INFORMATION:Regulation FD DisclosureITEM INFORMATION:Financial Statements and ExhibitsFILED AS OF DATE:20090107DATE AS OF CHANGE:20090107

FILER:

COMPANY DATA:COMPANY CONFORMED NAME:Orbitz Worldwide, Inc.CENTRAL INDEX KEY:0001394159STANDARD INDUSTRIAL CLASSIFICATION:TRANSPORTATION SERVICES [4700]IRS NUMBER:205337455STATE OF INCORPORATION:DEFISCAL YEAR END:1231

FILING VALUES:FORM TYPE:8-KSEC ACT:1934 ActSEC FILE NUMBER:001-33599FILM NUMBER:09511929

BUSINESS ADDRESS:STREET 1:500 W. MADISON STREETSTREET 2:SUITE 1000CITY:CHICAGOSTATE:ILZIP:60661BUSINESS PHONE:312-894-5000

MAIL ADDRESS:STREET 1:500 W. MADISON STREETSTREET 2:SUITE 1000CITY:CHICAGOSTATE:ILZIP:60661

8-K1c48555e8vk.htmFORM 8-K

e8vk

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report Pursuant
to Section13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): January7, 2009

Orbitz Worldwide, Inc.

(Exact Name of Registrant as Specified in its Charter)

Delaware

(State or Other Jurisdiction of Incorporation)

1-33599

20-5337455

(Commission File Number)

(I.R.S. Employer Identification No.)

500 W. Madison Street, Suite1000, Chicago, Illinois

60661

(Address of Principal Executive Offices)

(Zip Code)

(312)894-5000

(Registrants Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filingobligation of the registrant under any of the following provisions (see General Instruction A.2):

o Written communications pursuant to Rule425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item7.01. RegulationFD Disclosure.

Orbitz Worldwide, Inc. (the Company) will participate in the 2009 Citi Global Entertainment,Media & Telecommunications Conference on January7, 2009. The slides that will accompany theCompanys presentation at the conference are attached to this Current Report on Form 8-K as Exhibit99.1 and will also be posted on the Companys investor relations website athttp://www.orbitz-ir.com.

The information in this Current Report on Form 8-K, including Exhibit99.1 attached hereto, isbeing furnished and shall not be deemed filed for purposes of Section18 of the SecuritiesExchange Act of 1934, as amended (the Exchange Act), or otherwise subject to the liabilities ofthat Section and shall not be deemed incorporated by reference into any filing by the Company underthe Securities Act of 1933, as amended, or the Exchange Act, unless specifically identified thereinas being incorporated by reference therein.

Item9.01. Financial Statements and Exhibits.

(d)Exhibits.

ExhibitNo.

99.1 2009 Citi Global Entertainment, Media & Telecommunications ConferencePresentation, dated January7, 2009.

2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has dulycaused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ORBITZ WORLDWIDE, INC.

January 7, 2009 By: /s/ James P. Shaughnessy

Name: James P. Shaughnessy

Title: Senior Vice President and General
Counsel

3

EXHIBIT INDEX

Exhibit No. Description

99.1

2009 Citi Global Entertainment, Media & Telecommunications Conference Presentation, datedJanuary7, 2009.

4

EX-99.12c48555exv99w1.htmEX-99.1

exv99w1

Exhibit 99.1

2009 Citi Global Entertainment, Media &Telecommunications Conference

January 7, 2009

This presentation contains forward-looking statements that involve risks,uncertainties and other factors concerning, among other things, OrbitzWorldwide's (the "Company's") expected financial performance and its strategicoperational plans. The Company's actual results could differ materially from theresults expressed or implied by these forward-looking statements and reportedresults should not be considered as an indication of future performance. Moreinformation regarding these and other risks, uncertainties and factors is containedin the section entitled "Risk Factors" in the Company's filings with the Securitiesand Exchange Commission ("SEC"), which are available on the SEC's website atwww.sec.gov or the Company's Investor Relations website at http://orbitz-ir.com.You are cautioned not to unduly rely on these forward-looking statements, whichspeak only as of the date of this presentation. All information in this presentationis as of January 7, 2009, and the Company undertakes no obligation to publiclyrevise any forward-looking statement to reflect circumstances or events after thedate of this presentation.

This presentation contains non-GAAP financial measures as defined by the SEC.These measures may be different from non-GAAP financial measures used byother companies. The presentation of this financial information is not intended tobe considered in isolation or as a substitute for the financial information preparedand presented in accordance with generally accepted accounting principles in theUnited States (GAAP). Reconciliation between GAAP and non-GAAP measurescan be found under the section entitled, "Other Financial Info" on the Company'sInvestor Relations website at http://orbitz-ir.com.

Forward-Looking Statements

Orbitz Worldwide - Leading Global Online Travel Company

IPO July 2007

2007 Gross bookings $10.8 billion 1

2007 Adjusted net revenue $850 million 1

2007 Adjusted EBITDA $146 million 1

1 Excludes Travelbag

Estimates: Forrester Research, PhoCusWright and Management Estimates

* Online travel includes leisure / unmanaged sales only 2007 Online Retail Sales Online Travel* 98 Apparel 27 Computer hardware/software 24 Home Products 24 Consumer electronics 16 Flowers / cards / gifts 13 Music / video 9

2008E U.S. Online Sales ($B)

Travel is Largest Online Category 2004 2006 2008E Online 0.09 0.17 0.29 Offline 0.91 0.83 0.71

2004 2006 2008E Online 0.35 0.47 0.560000000232827 Offline 0.65 0.53 0.44

Online

Offline

U.S.

Europe & Asia

Market Penetration

Reaccelerate growth in the U.S.

Continue to execute on our long-term strategies

Increase penetration of fast-growing internationalmarkets

Drive growth in higher-margin non-air categories,including advertising, hotels and dynamic vacationpackages

Expand Adjusted EBITDA margins

Strategy for Revenue and Profit Growth

Deliver innovation that meets customers' needs

Orbitz Price AssuranceSM

MyIdealBeach

Create advertising that is a call to action

Improve monetization of site traffic

Drive incremental traffic from partnerships

Strategy to Reaccelerate Growth in the U.S.

Orbitz Price Assurance enablescustomers to book today with theconfidence that if another customersubsequently books the same airline ticketfor less on Orbitz.com, they will bereimbursed the difference (up to $250).

Customer receives a check for thedifference automatically.

Mailing out thousands of checks eachmonth to our customers.

We believe Price Assurance creates acompetitive advantage that will drivecustomers to search and book their travelon Orbitz.com.

Orbitz Price Assurance SM

2006 2007 9 Mos. 2007 9 Mos. 2008 East 1032 1398 1046 1385

(1) Gross bookings exclude Travelbag.

International Gross Bookings ($MM)(1)

Strong International Growth

35%

32%

ebookers: Full-service online travelcompany

13 country-specific sites

New global technology platform expectedto increase gross bookings growth andimprove profitability

HotelClub: hotels in ~120 countries, 15languages and 14 currencies

2 distinct business models and brands

HotelClub - merchant model sitewith membership component

RatesToGo - last-minute retailmodel site

Two Major International Brands

Grow advertising revenue

Build our hotel business

Grow our hotel sourcing team

Develop direct relationships with more hotels

Enhance hotel extranet to attract additional hotels

Drive dynamic packaging

Improve attachment rate for attractions and services

Drive Non-air Growth

Non-air and Other Air East 0.640000000232827 0.36

Non-air and Other Air East 0.580000000232828 0.42

All Other Net Revenue U.S. Domestic Air-only Leisure East 0.81 0.19

All Other Net Revenue U.S. Domestic Air-only Leisure East 0.78 0.22

U.S. Domestic Air-only Leisure Travel (1)

Net Revenue

(1) Domestic flights only; excludes corporate travel and dynamic packaging.

Progress in Increasing Non-Air Net Revenue %

Launched Price Assurance

Migrated all 13 European countries to new platform

Improved monetization of site traffic by increasingadvertising business

Significant white label implementations

Streamlined our cost structure with an announced $20MM annual reduction of costs

2008 Accomplishments/Actions

$MM As of 9/30/08 Cash and Cash Equivalents $ 103 Debt $ 620 Total Equity $ 436 Net Debt/Adjusted EBITDA 3.75x Adjusted EBITDA/Interest Expense 2.16x

Sound Financial Condition

Amounts:

$600 million term loan due 2014

$85 million revolving credit facility due 2013

Financial covenants:

Total Debt/Adjusted EBITDA (1)

Fixed Charge Coverage (1)

Step downs on leverage ratio through March 2011

Currently in compliance with all covenants.

Proactively managing the company to maintain financialcovenant compliance.

Debt Update

(1) Based on trailing Adjusted EBITDA and Fixed Charges as defined in Credit Agreement.

Expect challenging markets to continue through 2009.

Established conservative 2009 transaction plan reflectingeconomic conditions.

Prepared to take actions to maintain compliance with debtcovenants while driving future growth/financial stability:

$20 MM of annual cost reductions announced November 2008.

Expect approximately $20-25 MM of incremental annual costreductions as a result of measures announced January 2009.

2009 Outlook

1999-2006 - Expedia.com. Leadership roles in:

President of Expedia Asia Pacific, Director of elong

SVP of Air, Car and Private Label

Merchant hotel and dynamic packaging

Corporate development, strategic planning and IR

Director/Advisor to:

Kayak.com (advisor)

Global English

Liquid Planner

Others

MBA from Insead, MA from Cambridge University

Background on Barney Harford, New President and CEO

Orbitz Worldwide - Leading Global Online Travel Company

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