March 4, 2020 / 8:45 AM / a month ago

BRIEF-Hostelworld Group Sees Potential Impact To EBITDA In Range Eur 3m To Eur 4m For Q1'20 Due To COVID-19

March 4 (Reuters) - Hostelworld Group PLC:

* FULL YEAR NET REVENUE OF EUR 80.7M DECLINED 2% (2018: -5%)

* AVERAGE NET BOOKING VALUE OF EUR 11.97 (2018: EUR 11.64), A 3% INCREASE OVER 2018

* FY ADJUSTED EBITDA OF EUR 20.5M (2018: EUR 22.5M)

* PROPOSED FINAL DIVIDEND OF 2.1 EUR CENT PER SHARE (2018: 9.0 EUR CENT)

* HAS TAKEN DECISION TO REBASE DIVIDEND POLICY

* A REBASED PROGRESSIVE DIVIDEND WITH A PAY-OUT OF BETWEEN 20-40% OF ADJUSTED PROFIT AFTER TAX

* TRADING SINCE LATE-JANUARY HAS BEEN CHALLENGED BY OUTBREAK OF COVID-19 VIRUS

* DUE TO CORONAVIRUS, HAVE OBSERVED MATERIAL REDUCTION IN BOOKINGS AND AN INCREASE IN MARKETING COST AS A PERCENTAGE OF NET REVENUE

* IF NEAR TERM TRENDS WERE TO PERSIST TO END OF MARCH WE ESTIMATE IMPACT TO EBITDA TO BE IN RANGE EUR 3M TO EUR 4M FOR Q1’20 Source text for Eikon: Further company coverage:

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