HolidayCheck Group AG records substantial increase in revenue and earnings over first nine months of 2018. Strong growth in third-quarter revenue and earnings despite a weaker package holiday market.
Media releaseHolidayCheck Group AG records substantial increase in revenue and earnings over first nine months of 2018. Strong growth in third-quarter revenue and earnings despite a weaker package holiday market.
Munich, Germany, 8 November 2018 - HolidayCheck Group AG can look back on a successful nine-month period. Both revenue and earnings were up by a significant margin compared with the same period in 2017. Despite a lull in demand for package holidays at the beginning of the third quarter 2018, the HolidayCheck Group achieved a substantial increase in revenue and earnings over the three-month period as a whole.
After a remarkably positive start in the first half of 2018, according to our assessment and expectations, booking volumes remained subdued on the Central European package holiday market in the third quarter 2018 as a result of the World Cup and the hot summer across our region. However, a sharp uptick in demand throughout August and September pushed total third-quarter revenue up by 11.3 percent compared with the same period in 2017. At the same time, third-quarter operating EBITDA rose by EUR 4.0 million year on year.
HolidayCheck Group AG's revenue for the first nine months rose by EUR 15.2 million (16.3 percent) from EUR 93.2 million in 2017 to EUR 108.4 million as at 30 September 2018. As mentioned above, at EUR 35.6 million, third-quarter of 2018 revenue was up by 11.3 percent year on year (third quarter 2017: EUR 32.0 million.
EBITDA (earnings before tax, interest, depreciation and amortisation) in the nine-month period under review increased by EUR 9.9 million and stood at EUR 9.8 million (first nine months of 2017: minus EUR 0.1 million). Third-quarter EBITDA improved by EUR 4.1 million from minus EUR 1.5 million in 2017 to EUR 2.6 million in 2018.
Operating EBITDA (operating earnings before tax, interest, depreciation and amortisation) for the first three quarters of 2018 increased by EUR 9.3 million to EUR 10.5 million. The figure recorded for the first nine months of 2017 was EUR 1.2 million. At EUR 2.8 million, third-quarter operating EBITDA was EUR 4.0 million higher in comparison with the third-quarter of 2017 (minus EUR 1.2 million).
EBIT (earnings before interest and tax) for the first nine months of the year improved from minus EUR 4.5 million in 2017 to EUR 4.9 million in 2018 (up EUR 9.4 million). At EUR 0.9 million, the third-quarter figure was EUR 3.9 million higher compared to 2017 (minus EUR 3.0 million).
EBT (earnings before tax) for the first three quarters improved by EUR 9.4 million from minus EUR 4.6 million in 2017 to EUR 4.8 million in the current financial year. Third-quarter EBT went up by EUR 3.9 million from minus EUR 3.1 million in 2017 to EUR 0.8 million in 2018.
Consolidated net profit/loss from continuing operations for the first three quarters improved from minus EUR 4.9 million in the prior year to EUR 3.5 million in 2018 (up EUR 8.4 million). As mentioned above, the third-quarter figure went up by EUR 3.3 million from minus EUR 2.8 million to EUR 0.5 million year on year.
Basic and diluted earnings per share from continuing operations for the first nine months of the year went up by EUR 0.15, from minus EUR 0.09 in 2017 to EUR 0.06 in 2018. The corresponding figure for the third quarter was EUR 0.01 - up EUR 0.06 from minus EUR 0.05.
Outlook The HolidayCheck Group's vision is to become the most holidaymaker-friendly company in the world. Our goal is to continuously expand our portfolio of holiday services. The company therefore intends to invest consistently in measures to speed up the further development of its existing products and services (with an emphasis on the core fields of package holidays, 'hotel only' bookings and cruises) and in the development of new products and services in adjoining areas and for the steady expansion of our data intelligence systems and customised travel advice service. In order to implement these measures, the Management Board anticipates an increase in staffing levels at HolidayCheck Group AG's subsidiaries, mainly in the areas of product and IT development and travel advice. This will result in higher personnel costs. 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.
In light of the revenue and earnings figures reported over the first three quarters, the Management Board anticipates a year-on-year increase in Group revenue of between 10.0 and 14.0 percent for the financial year 2018 as a whole, adjusted for acquisitions or disposals of long-term equity investments and any new company formations.
Given the investments in personnel and marketing outlined above, the Management Board expects operating EBITDA for the financial year 2018 to lie between EUR 7.0 million and EUR 10.0 million.
Note on publication: The more detailed interim statement for the first nine months of 2018 will be published during the course of the day on the company's website at www.holidaycheckgroup.com under the heading 'Investor Relations'.
About HolidayCheck Group AG: HolidayCheck Group AG (ISIN DE005495329), Munich, Germany, is one of Europe's leading digital travel firms for holidaymakers. With a total workforce of around 450, HolidayCheck Group AG comprises HolidayCheck AG (which operates hotel review and travel booking portals by the same name), Driveboo AG (which operates the car rental portal MietwagenCheck) and WebAssets B.V. (which operates the Zoover hotel review portals and the MeteoVista/WeerOnline weather portals). HolidayCheck Group's vision is to become the world's most holidaymaker-friendly company in the world.
Media and Investor Relations contact: HolidayCheck Group AG Armin Blohmann Neumarkter Strasse 61 81673 München Germany
phone: +49 (0)89 357 680 901 fax: +49 (0)89 357 680 999 email: firstname.lastname@example.org
www.holidaycheckgroup.com http://twitter.com/HolidayCheckGrp http://facebook.de/HolidayCheckGroup
08.11.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: HolidayCheck Group AG Neumarkter Str. 61 81673 München
Germany Phone: +49 89 357680 901 Fax: +49 89 357680 999 E-mail: email@example.com Internet: www.holidaycheckgroup.com ISIN: DE0005495329 WKN: 549532 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service