Holidaycheck

Good Q1 results but Germany chief quits

Travel portal operator Holidaycheck Group grew strongly in the first quarter of this year but is losing its Germany chief.

May 11, 2017
Holidaycheck Group CEO Georg Hesse wants more hotel and cruise bookings.
Photo: Holiday Check Group

The Holidaycheck Group had a successful first quarter to the 2017 financial year, with both revenue and earnings significantly higher than the previous year period. The company benefited from overall growth in the online holiday package market in Central Europe.

The Swiss-based group, which includes the Holidaycheck portals in Germany, Austria and Switzerland as well as Zoover in the Netherlands, increased first-quarter net revenues from sales commissions and advertising by 11% to €33.4 million.

EBIT (earnings before interest and tax) improved from minus €0.7 million in the first quarter of 2016 to €2.8 million. Similarly, the company turned a net loss of €0.7 million in Q1, 2016, to a profit of €1.9 million in the first three months of this year.

Under its growth strategy, the company plans to make targeted investments this year in products and services in the core fields of package holidays and ‘hotel only’ bookings as well as in new products and services in adjoining areas such as cruise sales. There will also be higher spending on brand positioning.

Due to these investments, the company’s management is maintaining its revenue and profit forecasts for the year as a whole. Holidaycheck Group expects its revenues to grow by a high single-digit percentage rate while operating profits (EBITDA) could range between a €5 million loss and breakeven. In 2016, the group made a slight loss on turnover of €107 million.

Meanwhile, Anja Keckeisen, CEO at German subsidiary HolidayCheck AG, is surprisingly leaving the company at the end of June for family reasons. She will be replaced by marketing director Christoph Ludmann. Group CEO Georg Hesse thanked her warmly for her commitment to the company over the last three years.

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