Thomas Cook Group - AGM Statement

RNS Number:0325S
Thomas Cook Group PLC
10 April 2008

10 April 2008

Thomas Cook Group plc
Annual General Meeting statement

Thomas Cook Group plc announces that at its Annual General Meeting today, it
will give the following update:

Overall, as the Group enters its close period, the Board is confident that the
business will meet its expectations for the current financial year.

Group Chief Executive's comment

Manny Fontenla-Novoa, Group Chief Executive, Thomas Cook Group plc said: "Today
we are marking the first year of Thomas Cook Group plc at our inaugural Annual
General Meeting, a year in which significant progress has been made. We have
successfully and swiftly integrated our predecessor businesses, reported
increased profits for 2006/07, entered the FTSE 100 index and made a number of
key strategic acquisitions. Over the past twelve months we have laid strong
foundations for future growth. I am satisfied with our current trading and am
confident in our strategy to grow the business."

Winter 07/08
Year on year pro forma variation % Average selling price Bookings Capacity
UK +1 -5 -5
Northern Europe +8 +7 +7
Continental Europe +4 -3 -
North America -4 -2 -1

Note: Figures above are as at 5/6 April 2008. The figures above for UK, Northern
Europe and North America represent Risk bookings only. In Continental Europe,
all bookings are included.

Winter performance has been in line with our expectations and summer trading
continues to go well.

As planned, UK capacity is now 5% below last year and bookings are in line with
capacity, down 5%. Average selling prices and margins continue to be ahead of
the prior year.

Northern Europe has enjoyed a very good winter season, with bookings up 7% on 7%
more capacity and 8% higher average selling prices.

In Continental Europe, the winter season has been satisfactory with bookings
down 3% but average selling prices up 4%.

North America winter trading is broadly in line with the position described on
30 January.

The booked seat load factor in Airlines Germany for winter is 3% ahead of the
prior year.

Summer 08
Year on year pro forma variation % Average selling price Bookings Capacity
UK +2 -3 -10
Northern Europe +8 +12 +2
Continental Europe +2 +4 -
North America - -2 +2

Note: Figures above are as at 5/6 April 2008. The figures above for UK, Northern
Europe and North America represent Risk bookings only. In Continental Europe,
all bookings are included.

Trading for Summer 2008 has been strong in our main markets and we are set to
enter the season in a very good position. In the UK, capacity is currently 10%
lower. We currently have 19% fewer holidays to sell than at this time last year,
which should stand us in good stead in the lates market. We are particularly
encouraged by our much lower level of stock left to sell in short haul and long
haul. Average selling prices are currently 2% ahead.

Year on year pro forma variation % Left to sell Capacity
Short haul -34 -23
Medium haul -11 -3
Long haul* -27 -12
UK total -19 -10

Northern Europe summer 2008 trading has continued well, with bookings currently
12% ahead year on year on capacity up only 2%. Average selling prices are 8%
ahead.

In Continental Europe, we are comfortable with summer 2008 trading. Total
bookings are up 4% with average selling prices now 2% higher year on year.

North America summer 2008 trading is also satisfactory.

Airlines Germany capacity overall is 9% lower, with the largest reduction the
result of eliminating unprofitable city routes. The booked load factor is up 1%.

Fuel and foreign currency

To manage fuel and foreign exchange rate volatility, it is our policy to hedge
fuel requirements 18-24 months prior to the respective season and foreign
currency trading requirements prior to the season as well. We continue to be
comfortable with our hedged position for the current financial year.

Acquisitions

The Group has made three significant acquisitions since reporting its annual
results on 30 January:

• Supporting its strategy of entering the fast-growing emerging markets
by acquiring the majority of Thomas Cook India Limited, 100% of Thomas Cook
branded businesses in Egypt and licences for the Thomas Cook brand in 15 Middle
East countries (7 March).

• The acquisition of Hotels4U.com Limited to strengthen its position in
the independent travel market (14 February).

• The acquisition of Elegant Resorts Ltd, the number one UK-based luxury
travel company (7 April).

Share buy-back programme

Having obtained approval for the €375 million share buy-back programme at the
Extraordinary General Meeting on 10 March, the Group has so far purchased a
total of 15,116,000 shares for cancellation, at a total cost of £43.4 million
excluding commission (as at the close of business on 9 April).

Forthcoming announcements

As previously announced, in view of the change of year end to 30 September 2008,
on 15 May the Group will issue pro forma figures for the six months to 31 March
2007 and 12 months to 30 September 2007, together with results for the five
months to 31 March 2008. Results for the six months to 30 April 2008 will be
announced on 17 June.

Enquiries:
Thomas Cook Group plc Today +44 (0) 20 7404 5959
Thereafter +44 (0) 1706 746464
Manny Fontenla Novoa Chief Executive
Ludger Heuberg Chief Financial Officer
Steven Olivant Investor Relations Director

Brunswick +44 (0) 20 7404 5959
Fiona Antcliffe
Anita Kidgell
Sophie Brand

For Investors and analysts:

Thomas Cook management will host a conference call for analysts and investors at
0900 BST on Thursday 10 April. To participate, please use the following dial-in
number:

+44 (0) 1452 541 076 (password: Thomas Cook).

A replay of the call will be available for up to 7 days on the following
number: +44 (0) 1452 55 00 00. The access code for the replay facility is
42913219#.

This information is provided by RNS
The company news service from the London Stock Exchange
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