Ad-hoc | 9 June 2008 08:15
Travel24.com AG / Final Results
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Munich, 9 June 2008 - Unlike in previous years, Travel24.com AG’s financial
accounts are now ready to be published with a clean opinion from the
auditors, BDO Wirtschaftsprüfungsgesellschaft. The delay resulted from a
creditors’ meeting scheduled prior to the finalisation of the accounts and
during which an extension of the terms or prolongation of payment of the
outstanding convertible bonds was agreed on 16th May 2008.
Travel24.com’s sales in an amount of ca. EUR 16m for the year 2007 were
roughly 20% above prior year’s levels. The net loss posted in the accounts
resulted primarily from investments into the development of the tour
operator activities of the subsidiary Direkt-Touristik AG as well as from
booked, yet not liquidity-related interest expenses from the convertible
bonds.
After achieving positive results in the first quarter - when based on sales
per booking date - for the first time in the company’s history, management
is confident that this trend will continue in the further course of the
year. Due to promising initial approaches for business at Direkt-Touristik
AG’s level and given a favourable development of the travel24.com portal,
sales in 2008 are expected to rise by at least 150%, from EUR 2.0m to EUR
5.0m. For the year as a whole, the company expects a positive result.
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Information and Explaination of the Issuer to this News:
About travel24.com:
Travel24.com AG was formed in February 1996 and is listed on the Frankfurt
Stock Exchange (Prime Standard, ISIN: DE000A0JRWD1). The independent travel
portal offers a comprehensive programme of travel information, package
tours, flights and rental cars.
The company’s Website www.travel24.com is one of the three best known and
most popular German travel portals. In addition, the company offers last
minute special offers at www.lastminute24.com and flights at www.flug24.de
and it offers its own travel products via its new subsidiary Direkt
Touristik AG.
All travel information and offers can be accessed by online multimedia
presentation and by telephone. 24 hours a day, seven days a week.
For further information please visit: www.travel24.com - Holidays at your
fingertips
24-hour service hotline: toll-free 0800-87 28 35 24 (0800-TRAVEL24)
Contact:
Travel24.com AG
Investor Relations
Sabine Fey
Romanstraße 35
80639 München
Tel.: +49 (0) 89 25 007 1012
Fax: +49 (0) 89 25 007 1021
mailto:ir@travel24.com
www.travel24.com
Urlaub zum Greifen nah.
09.06.2008 Financial News transmitted by DGAP
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Language: English
Issuer: Travel24.com AG
Romanstraße 35
80639 München
Deutschland
Phone: +49 (0)89 25007-1012
Fax: +49 (0)89 25007-1021
E-mail: ir@travel24.com
Internet: www.travel24.com
ISIN: DE000A0JRWD1
WKN: A0JRWD
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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