"We've had a terrific year, delivering strong financial results and meaningful improvements in the traveler experience on our sites," says Brian Sharples, chief executive officer of HomeAway®. "HomeAway recently celebrated its tenth anniversary. Over the past decade, the company has experienced tremendous growth but what we're most proud of is bringing friends and families together in vacation rentals around the globe. Yesterday we introduced some elements of our new global integrated marketing campaign centered on the joy of "a whole vacation." The campaign focuses on the functional and emotional benefits HomeAway provides the ability to travel with "the whole family" and stay together in "the whole house." Over the coming years we look forward to introducing more travelers to the space and privacy that a whole house rental provides, and to building the most preferred brand in the vacation rental industry."
Fourth Quarter 2014 Financial Highlights
Looking forward, chief financial officer Lynn Atchison says, "Despite strong underlying fundamentals as we entered 2015, given the global nature of our business, the strengthening U.S. dollar is a headwind reflected in our near-term outlook. We currently estimate that currency fluctuations may reduce revenue by approximately $30 million, or 700 basis points of growth, and EBITDA margin by 100 basis points for the full year, and this is incorporated into the forecast. Our outlook also includes an increase in marketing as a percentage of revenue compared to the prior year, the impact of which is expected to be more pronounced in the first half of the year due to advertising production costs and the seasonality of our business."
HomeAway management currently expects to achieve the following results for the first quarter ending March 31, 2015 and full year ending December 31, 2015:
First Quarter 2015