Ad-hoc | 27 September 2001 08:34

Travel24 Com english

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Munich, 27th September 2001 – Travel24.com AG (SIN 748750, Symbol: TVD) has adjusted the turnover it expected for 2001 down to EUR 50 million (previously EUR 83.2 million) as part of restructuring measures and as a result of losses caused by the terrorist attacks in the USA. According to provisional calculations the operating loss for the group will be EUR -19.9 million (previously it was EUR -15,6 million). The reasons for the drop in turnover are attributable on the one hand to the current restructuring which has been carried out since last August. The loss- making staff-intensive fulfilment for third party customers division run by the subsidiary Aeroworld Fernreisen GmbH is to be closed down on the 31st October 2001. On the other hand the number of online bookings in Germany has indeed increased consistently, but more slowly than originally assumed. In addition to this, the terrorist attacks in the USA are currently having an effect on holidaymaker booking patterns. Bookings have fallen by between 20% and 80% since the 11th September 2001, depending on destination zone. The USA as well as the Near East and Middle East have been particularly affected. “At the present point in time long-term forecasts are unreliable as a result of the uncertain political developments in the world”, is what CEO Marc Maslaton has to say. “However, we reckon that our customers’ holiday plans will quickly return to normal once the present political situation has stabilised”. The drop in turnover caused by the market as well as the expenditure as a result of the restructuring programme is placing a strain on the group results. The results of restructuring, i.e. the concentration on the core travel sales and tour operator divisions, as well as the reduction in staff capacity and the cuts in investment in technology will only start to have a beneficial effect in the 4th quarter of 2001. It is estimated that in 2002 there will be a 60% savings in cost compared with 2001. The requirement for liquid funds was reduced by EUR 5 million down to EUR 6 million per quarter as early as the 2nd quarter in 2001. Regardless of the reduction in the turnover figures and the group loss, the executive board of Travel24.com AG is expecting to break even in the 4th quarter of 2002. end of ad-hoc-announcement (c)DGAP 27.09.2001 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Contact: Travel24.com AG Investor Relations Silke Siegel Weinstraße 3 80333 München Tel.: + 49 89 – 379 095 – 0 Fax: + 49 89 – 379 095 – 55 E-Mail ir@travel24.com www.travel24.com ——————————————————————————– WKN: 748750; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart 270834 Sep 01