MUNICH, GERMANY, September 1, 2000 (PRIMEZONE) -- Travel24.com AG (TVD, Neuer Markt securities number 748750), one of the leading German Internet-based travel companies, increased its booked sales by 69 percent in the first half of 2000. In comparison to the equivalent period the year before, sales of bookings rose from DM 7.546 million to DM 12.788 million and net sales rose from DM 1.284 million to DM 1.452 million. Earnings before interest, taxes, depreciation and amortization (EBITDA) were minus DM 11.872 million and the net loss was DM 8.725 million.
The figures for the reporting period show the company's strong organic growth and do not include the acquisitions made after June 30, 2000. Through targeted marketing measures the number of page impressions has risen by over 643 percent to more than 2.9 million per month since the beginning of the year. Similarly, the dynamic sales growth, which is far above the market average, increased by 56 percent from the first to the second quarter 2000, proving that the product and service portfolio is being well received by the customers.
With its investments in the Internet-related travel organization and consolidator Aeroworld GmbH, the tourism application service provider Buchungsmaschine AG and the North American travel organization Travelbyus.com plus over DM 100 million of cash assets and an equity ratio of over 95 percent - the company has established a solid base in order to press ahead with its global expansion involving selected travel, media and technology partners in various countries.
Through its synergy effects, partnerships and its successful marketing strategy Travel24.com AG will continue to grow and will break even in 2002, one year earlier than planned.
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