HolidayCheck Group AG adjusts its revenue and earnings guidance for financial 2019 following the insolvency of Thomas Cook GmbH

Munich, Germany, 25 September 2019, 13:52 CET – The insolvency of Thomas Cook GmbH, Oberursel, Germany, which was announced today, is expected to result in extraordinary burdens to the revenue and operating EBITDA of HolidayCheck Group AG in financial 2019. Among other things, bad debt losses, repayment claims from the challenge of payments already made and further consequential losses are to be expected. The exact amount depends on the further course of the insolvency proceedings.

Against the background of the current information situation, HolidayCheck Group AG has adjusted its revenue and earnings forecast for financial 2019 as follows:

HolidayCheck Group AG now anticipates a year-on-year increase in revenues of between 1.0 percent and 4.0 percent and an operating EBITDA of between EUR 2.0 million and EUR 6.0 million.

The previous forecast for financial year was revenue growth of between 3.0 percent and 6.0 percent and operating EBITDA of between EUR 7.5 million and EUR 10.5 million.

About HolidayCheck Group AG:

HolidayCheck Group AG (ISIN DE005495329), Munich, Germany, is one of Europe’s leading digital travel firms for holidaymakers. With a total workforce of around 490, HolidayCheck Group AG comprises HolidayCheck AG (which operates hotel review and travel booking portals by the same name), HC Touristik GmbH (which operates the travel agent HolidayCheck Reisen), Driveboo AG (which operates the car rental portals MietwagenCheck and Driveboo) and WebAssets B.V. (which operates the Zoover hotel review portals and the MeteoVista/WeerOnline weather portals). HolidayCheck Group’s vision is to become the world’s most holidaymaker-friendly company in the world.