German Values Property Group AG

Report Publication Announcement • Feb 28, 2007

News Details

Ad-hoc | 28 February 2007 08:50

Travel24.com AG records positive results in 2006 – fourth quarter with operating profits

Travel24.com AG / Miscellaneous

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 - 28 February 2007 - travel24.com recorded very pleasing business
growth in the fourth quarter of 2006: The online travel agent’s dual-brand
strategy, with the brands 'travel24.com' and 'lastminute24.com' enjoyed
broad-scale acceptance among the relevant target groups. The company also
recorded positive annual earnings, which is primarily due to extraordinary
factors (refund of input tax on the IPO costs). The non-cash interest
expenses for the convertible bonds issued since 2003 continue to depress
earnings, as do the launch of the new Web site flug24.de and the start-up
investments for the newly formed tour operator Direkt Touristik AG: This
tour operator, which was launched in the fourth quarter of 2006, has
already recorded initial sales successes, with significant new business
expected as a result of the expenditure. The new subsidiary already has 10
employees. Travel24.com AG believes that Direkt Touristik AG’s travel
business will already make a positive contribution to earnings and the
forecast operating profits in the current financial year 2007.
On the whole, 2006 was characterised by the company’s successful
restructuring and capitalisation activities, which have provisionally been
completed. In addition to a significant improvement in the company’s
balance sheet, the company was able to cut costs to an extent which makes
the remaining core business carries itself and is profitable at the
currently very stable level. Cash in hand amounts to EUR 1 million and is
once again sufficiently high to achieve a significant increase in the
volume of business by expanding sales and marketing activities.

The annual financial statements will be published on 2 April 2007.

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.

DGAP 28.02.2007

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
WWW: www.travel24.com
ISIN: DE000A0JRWD1
WKN: A0JRWD
Indices:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin-Bremen, Düsseldorf, München, Stuttgart

End of News DGAP News-Service

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