DGAP-News: HolidayCheck Group AG
/ Key word(s): Quarterly / Interim Statement
HolidayCheck Group AG publishes nine-month results for 2019
Munich, Germany, 8 November 2019
For HolidayCheck Group AG, the third quarter of the year was a period of mixed results. After a strong start into the last-minute holiday season at the beginning of the quarter, demand for package holidays slowed down at the end of the period under review. And the bankruptcy of the Thomas Cook Group's German subsidiaries put further strain on the market in the third quarter of 2019.
According to the market research institute GfK, the German package holiday market was unable to generate further growth in the period under review after a strong performance in 2018. Against this background, based on the company's own assessment, the HolidayCheck Group achieved an increase in its share of the total market.
HolidayCheck Group AG's revenue for the first nine months rose by EUR 4.1 million (or 3.8 percent) from EUR 108.4 million in 2018 to EUR 112.5 million as at 30 September 2019.
EBITDA (earnings before interest, tax, depreciation and amortisation) for the nine-month period under review fell by 46.3 percent (or EUR 4.4 million) from EUR 9.5 million in 2018 to EUR 5.1 million in the current financial year, mainly due to the above-mentioned write-downs on receivables.
Operating EBITDA (operating earnings before interest, tax, depreciation and amortisation) for the first three quarters of the year stood at EUR 5.6 million, down 45.1 percent (or EUR 4.6 million) from EUR 10.2 million over the same period in 2018.
Consolidated net profit/loss for the first three quarters fell by EUR 6.4 million from EUR 3.1 million in 2018 to minus EUR 3.3 million in 2019.
Basic and diluted earnings per share for the first nine months of the year were down by EUR 0.11, from EUR 0.05 in 2018 to minus EUR 0.06 in the current financial year.
The subsidiaries also intend to make further investments in marketing in the form of direct sales promotions and other measures designed to give a sustained boost to the profile of our various brands.
Looking ahead at financial 2019 as a whole, the Management Board anticipates a year-on-year increase of between 1.0 and 4.0 percent in consolidated sales revenue after adjusting for acquisitions, disposals and new company formations. Operating EBITDA is expected to reach between EUR 2.0 million and EUR 6.0 million, including a boost of around EUR 2.5 million from the first-time application of the International Financial Reporting Standard (IFRS) 16. At the beginning of financial 2019, the Management Board initially forecast an increase of between 7.0 and 9.0 percent in consolidated sales revenue, with operating EBITDA between EUR 8.5 million and EUR 13.5 million.
About HolidayCheck Group AG:
Media and Investor Relations contact:
phone: +49 (0)89 357 680 901
08.11.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||HolidayCheck Group AG|
|Neumarkter Str. 61|
|Phone:||+49 89 357680 901|
|Fax:||+49 89 357680 999|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||908019|
|End of News||DGAP News Service|