Ad-hoc | 28 November 2001 08:10

Travel24 Com english

Heading for break-even in 2002 – Restructuring nearing completion Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– -Sales rise by more than 10 percent over previous quarter and total EUR 32.05 million -Liquid resources requirement drops again by one-third to only EUR 1.4 million a month. Munich, 28th November 2001 – In the first nine months of the current financial year, Travel24.com AG (securities code WKN: 748750, TVD) handled travel sales with a total value of EUR 82.0 million (after EUR 57.9 million in the first six months of the year) an increase of 42 percent. Because of the terrorist attacks on 11th September 2001, however, Travel24.com AG and its subsidiary Aeroworld Reisen GmbH suffered the expected fall in sales. The busy travel months of July and August, however, raised sales by more than 10 percent to EUR 11.1 million. Taking the whole of the period from January to September 2001, total sales were achieved of EUR 32.0 million compared with EUR 4.5 million in 2000. Group earnings before interest, taxes, depreciation, and amortisation (EBITDA) were a loss of EUR 15.1 million (after EUR 12.2 million in 2000). The net Group loss for the first nine months of 2001 was EUR 17.5 million (after EUR 9.9 million) with a liquidity of EUR 11.7 million. The equity capital level as of 30th September 2001 was 56.5 percent (after 58.1 percent at the end of the 2nd quarter of 2001). Because of the restructuring program carried out in the third quarter of 2001, Travel24.com AG was able further to reduce its current capital requirement. Whilst in the 1st quarter of 2001 the monthly financial requirement still averaged EUR 3.7 million, it sank in the 2nd quarter to an average of EUR 2.1 million and further in the 3rd quarter to EUR 1.4 million. Savings have so far amounted to more than 60 percent of last years level, and it is expected that by the end of the year the average will have sunk to EUR 1.0 million. For the months from January to September 2001, earnings per share were a loss of EUR 1.77 after EUR 1.21 in the same period a year ago and EUR 4.01 for 2000 in total. It is very difficult to make any forecast for the remaining months of the current financial year because of the world political situation, but there is a clearly discernible trend towards last-minute bookings. end of ad-hoc-announcement (c)DGAP 28.11.2001 ——————————————————————————– WKN: 748750; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart 280810 Nov 01