Half-year results

Holidaycheck maintains double-digit growth and raises outlook

German-based online travel group Holidaycheck Group had a “very pleasing” second quarter in which revenue grew at a slightly faster rate after a successful first quarter, and slightly raised its revenue outlook for the full year.

August 10, 2017
Georg Hesse is Holidaycheck Group CEO
Photo: Holiday Check Group

Once again, there was a clear upturn in the Central European package holiday market during the second quarter, which is likely to have particularly benefited companies in the online package holiday segment, according to the company.

The Holidaycheck Group increased revenues by 11.5% to €27.7 million in the April – June quarter, leaving half-year results up by 11.2% at €61.2 million. The main driver of this revenue growth was the German subsidiary HolidayCheck AG, which achieved year-on-year increases of 14% in the first half of 2017 and as much as 16% in the second quarter.

However, the seasonal operating loss (Ebit) broadened to €4.3 million in the second quarter from €1.1 million in the same period last year. This was largely due to higher spending on marketing and higher staff costs as the workforce was expanded as well as other financial factors.

Looking ahead, the group has upgraded its forecast for revenue growth in the full year to between 7% and 11% this year, compared to an original forecast of between 5% and 10%. However, it still expects operating EBITDA to lie between -€5 million and €0 million.

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