German Values Property Group AG

Earnings Release • May 31, 2001

News Details

Ad-hoc | 31 May 2001 10:05

Travel24 Com english

Ad hoc announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Record turnover confirms successful orientation towards becoming an integrated eTravel Group Munich, 31st May 2001 Travel24.com AG (Neuer Markt, SIN 748750) has increased its turnover in the first quarter of 2001 by 4,030% up from 0.3 million EUR to almost 11 million EUR compared with the same period of the previous year. The Munich-based eTravel Group thus further confirms its course for growth. Turnover generated from travels also rose considerably compared with the previous year and increased tenfold up from more than 2.8 million EUR to over 29.8 million EUR. The result before interest, taxes, depreciation and amortisation (EBITDA) amounted to -7.5 million EUR (previous year: -1.8 million EUR) and the net loss for the quarter totalled 7.9 million EUR (previous year: -1.9 million EUR). The figures reported in the period under review show the strong organic growth and the effects of the acquisitions made last year. Particularly pleasant is the increased awareness level of the Web site www.travel24.com. As a consequence, the page impressions in the Internet rose to almost 10 million in the first quarter (+276% in 1st quarter 2001 compared with 1st quarter 2000). In March 2001, the online-mediated travel turnover climbed over the mark of 1 million DM for the first time. The attractiveness of the Web site is made clear by the time of over 12 minutes a customer on average visits the site and an increase in the number of visits by over 136% (1st quarter 2001 compared with 1st quarter 2000). The dynamic development of turnover, which is far above the market average, shows the customers’ acceptance of the product and service portfolio. Together with the new co-operation partner PrimusOnline (www.PrimusReisen.de), which is part of the trading combine Metro AG, and the existing co-operation partners in the fields of finance, technology, publishers, magazines and Internet, Travel24.com AG has gained strength for the travel season 2001. With liquid funds totalling more than 22 million EUR (as of 31st March 2001) and an equity ratio of 60.9% Travel24.com AG disposes of sufficient liquidity and assets to be able to further participate disproportionately in the developments forecast for the tourist sector as an integrated e-Travel Group. Contact: Travel24.com AG Investor Relations Silke Siegel Weinstraße 3 D-80333 Munich Phone: + 49 89 379 095 0 or 0800 T24AKTIE Fax: + 49 89 379 095 55 E-mail: ir@travel24.com www.travel24.com end of ad hoc announcement (c) DGAP 31.05.2001 ——————————————————————————– WKN: 748750; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart 311005 Mai 01