March 25, 2020 / 6:51 AM / 7 days ago

BRIEF-Holidaycheck Group FY EBITDA Down At EUR 6.4 Mln

March 25 (Reuters) - HOLIDAYCHECK GROUP AG:

* PUBLISHES ANNUAL RESULTS FOR 2019 AND PROVIDES OUTLOOK FOR THE FINANCIAL YEAR 2020

* FY REVENUE OF HOLIDAYCHECK GROUP AG IMPROVED YEAR ON YEAR BY 3.5 PERCENT, FROM EUR 138.9 MILLION TO EUR 143.7 MILLION

* FY EBIT (EARNINGS BEFORE INTEREST AND TAXES) AMOUNTED TO EUR -3.7 MILLION EUR

* HAS BEEN RECORDING A SHARP DECLINE IN PACKAGE AND HOTEL BOOKINGS SINCE END OF FEBRUARY

* FY CONSOLIDATED NET PROFIT/LOSS TOTALED -4.6 MILLION EUR IN FINANCIAL YEAR 2019 AFTER EUR 1.9 MILLION

* FY EBITDA AT EUR 6.4 MILLION IN FINANCIAL YEAR 2019, FOLLOWING EUR 10.0 MILLION IN PREVIOUS YEAR (-36.0 PERCENT)

* EXPECTS A SIGNIFICANT YEAR ON YEAR DECLINE IN GROSS MARGIN (REVENUES LESS COGS/COMMITTED TRAVEL EXPENSES) FOR FINANCIAL YEAR 2020

* HAS INTRODUCED EXTENSIVE COST-CUTTING MEASURES

* FY OPERATING EBITDA TOTALED 7.0 MILLION EUR FOLLOWING 10.7 MILLION EUR IN PREVIOUS YEAR (-34.6 PERCENT)

* MEASURES INCLUDE WAIVER OF SALARY INCREASES, INTRODUCTION OF SHORTENED WORKING HOURS IN LARGE PARTS OF COMPANY AND A PARTIAL, VOLUNTARY REDUCTION IN SALARY BY MANAGEMENT BOARD Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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