INTREPID Travel has released its sixth Integrated Annual Report, detailing the company’s rapid turnaround to positive cashflow last year.
Noteworthy accomplishments include returning to a strong operating cash inflow of $34.2 million (versus a $31 million outflow in 2021); reopening operations in almost 90 countries, and rebuilding its global workforce through recruiting more than 500 new roles.
The annual reports shows Intrepid significantly reduced its operational loss to $25.9 million last year, from $60.7 million in 2021, and that it will return to profitability in 2023.
The report also shares some of the challenges from the year, including the skills shortages in global travel and tourism, and the 2022 financial loss that was incurred in the first half of the year during the global Omicron variant outbreak.
Intrepid went on to generate a profit in the second half of the year however, and the business now has a goal to achieve an EBITDA of above pre-pandemic levels in 2023.
From an environmental perspective, Intrepid produced 27,898 greenhouse gas emissions, carbon dioxide equivalent (compared with 51,486 in 2019).
“This report marks Intrepid’s transition from survival to revival mode,” Chief Executive Officer James Thornton said.
“I’m incredibly proud that we’ve continued to invest in the business and as a result, have emerged as a thriving, transformed company.
“There were so many highs last year, including experiencing our best booking days in our history during November and December 2022…this was almost inconceivable at the start of the year and it’s truly remarkable how our business recovered, through the support of our industry partners and customers.”
Intrepid also entered into a 50% partnership with off-grid sustainable accommodation company CABN.