DGAP-News: TOMORROW FOCUS AG / Key word(s): Quarter Results
TOMORROW FOCUS AG increases market share in first quarter - Proposal to
change trading name to HolidayCheck Group AG
04.05.2016 / 07:47
The issuer is solely responsible for the content of this announcement.
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Corporate News
TOMORROW FOCUS AG increases market share in first quarter - Proposal to
change trading name to HolidayCheck Group AG
Munich, Germany, 4 May 2016 - TOMORROW FOCUS AG increased its share of the
online travel market in the first quarter of 2016 against a background of
general industry weakness.
According to the company's own estimates, this weakness particularly
affected overall package holiday sales in Central Europe, which ended the
quarter around ten percent lower year on year. One of the main factors in
this downturn was the series of terrorist attacks in France, Turkey and
Belgium. The heightened sense of insecurity that this created among
holidaymakers translated into a greater reluctance to make travel bookings.
In this context, HolidayCheck AG nevertheless achieved a single-digit
first-quarter increase in revenue from package holiday bookings, its
largest business segment, compared with the first quarter of 2015 and
increased its market share by a significant margin.
As planned, first-quarter revenue at TOMORROW FOCUS AG's Dutch subsidiary
WebAssets B.V. was down on the previous year. This was mainly due to the
sale of Zoover's and Tjingo's travel agency operations at the end of 2015
and the almost complete discontinuation of WeerOnline's B2B activities.
TOMORROW FOCUS AG's total consolidated revenue for the first quarter of
2016 was EUR 30.1 million, down 1.0 percent compared with EUR 30.4 million
in the same period of 2015.
EBITDA in the first quarter of 2016 stood at EUR 0.7 million, down 61.1
percent compared with the figure of EUR 1.8 million in the same quarter of
2015.
At EUR 0.4 million, operating EBITDA in the first quarter of 2016 was 88.9
percent lower compared with EUR 3.6 million in the first quarter of 2015.
First-quarter EBIT for 2016 was minus EUR 0.7 million (first quarter 2015:
EUR 0.2 million).
The financial result improved from minus EUR 0.3 million in the first
quarter of 2015 to EUR 0.0 million in the period under review.
This was due to a reduction in financial expenses following the complete
repayment of all outstanding bank loans.
EBT in the first quarter of 2016 was minus EUR 0.7 million (first quarter
2015: minus EUR 0.1 million).
Consolidated net loss from continuing operations stood at EUR 0.7 million
in the first quarter of 2016 compared with EUR 0.8 million in the same
quarter of 2015.
Consolidated net income from discontinued operations amounted to EUR 0.5
million in the first quarter of 2016 compared with a consolidated net loss
of EUR 0.1 million in the same quarter of 2015.
Consolidated net loss was EUR 0.3 million in the first quarter of 2016
compared with EUR 0.8 million in the same quarter of 2015.
Consolidated earnings per share from continuing operations stood at minus
EUR 0.01 in the first quarter of 2016 and were therefore unchanged year on
year.
Consolidated earnings per share from discontinued operations stood at EUR
0.01 in the first quarter of 2016 compared with EUR 0 in the same quarter
of 2015.
Consolidated earnings per share from all operations stood at EUR 0 in the
first quarter of 2016 compared with minus EUR 0.01 in the same quarter of
2015.
As at 31 March 2016, the equity ratio stood at 84.5 percent, up from the
figure of 76.3 percent as at 31 December 2015.
Outlook
The TOMORROW FOCUS Group's vision is to build the most
holidaymaker-friendly company in the world.
Our main focus in financial 2016 and beyond will again be on steps to
intensify investment in the further development of the products and
services offered by the TOMORROW FOCUS Group's holiday brands. In the first
quarter of 2016, for example, there was an eightfold increase in the number
of A/B tests, which compare the impact of different versions of a website.
In addition, we are not excluding the possibility of targeted acquisitions
of digital travel companies that could usefully complement our existing
portfolio.
In total, after adjusting for acquisitions and disposals, the Management
Board believes that the consolidated revenue of the TOMORROW FOCUS Group
could be increased in financial 2016 by a percentage figure in the middle
single digits (and therefore above the industry average) compared with the
previous year.
In the view of the Management Board, the above-mentioned investment in
products and services will have a positive impact on consolidated revenue
and thus on the TOMORROW FOCUS Group's operating EBITDA in the medium to
long term. For the current financial year, the Management Board expects
Group EBITDA to at least reach the break-even point despite planned
spending on investment and its strategy of increasing market share.
Proposal to change trading name to HolidayCheck Group AG
The Management Board and Supervisory Board of TOMORROW FOCUS AG have
decided to submit a proposal to the annual general meeting of 16 June 2016
that the trading name of the company be changed to reflect its current
business purpose and that the general meeting of shareholders therefore
adopt a resolution to change the company's name to HolidayCheck Group AG.
Provided that the resolution is approved by the annual general meeting, the
change of name will take effect when it is entered in the commercial
register.
Note on publication
The German version of the interim report for the first quarter of 2016 will
be published during the course of the day on the company's website at
www.tomorrow-focus.de under the heading 'Investor
Relations/Unternehmensberichte'. The English version will be published
shortly thereafter at www.tomorrow-focus.com under the heading Investor
Relations/Company reports.
About TOMORROW FOCUS AG
TOMORROW FOCUS AG (ISIN DE005495329) is based in Munich, Germany, and is
one of Europe's leading digital travel firms for holidaymakers. With a
total workforce of around 400, the TOMORROW FOCUS Group comprises
HOLIDAYCHECK AG (which operates hotel review and travel booking portals by
the same name and the car rental portal MIETWAGENCHECK) and WEBASSETS B.V.
(which operates the ZOOVER hotel review portals and the
METEOVISTA/WEERONLINE weather portals). The TOMORROW FOCUS Group's vision
is to build the most holidaymaker-friendly company in the world.
Media and Investor Relations contact:
TOMORROW FOCUS AG
Armin Blohmann
Neumarkter Strasse 61
81673 München
Germany
phone +49 (0)89 9250 1256
fax +49 (0)89 9250 2403
email a.blohmann@tomorrow-focus.de
www.tomorrow-focus.de
http://twitter.com/tomorrowfocus
http://facebook.de/tomorrowfocus
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04.05.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: TOMORROW FOCUS AG
Neumarkter Str. 61
81673 München
Germany
Phone: +49 (0)89 9250-1256
Fax: +49 (0)89 9250-2403
E-mail: a.blohmann@tomorrow-focus.de
Internet: www.tomorrow-focus.de
ISIN: DE0005495329
WKN: 549532
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart
End of News DGAP News Service
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460625 04.05.2016
DGAP-News: TOMORROW FOCUS AG increases market share in first quarter - Proposal to change trading name to HolidayCheck Group AG
| Source: EQS Group AG