Holidaycheck Group Reports Consolidated Earnings Results for the Second Quarter and Six Months of 2016; Provides Earnings Guidance for the Full Year of Fiscal 2016
The company's consolidated revenue for the first half-year was up by a small margin of 0.5% from EUR 54.7 million in 2015 to EUR 55.0 million in the current financial year. At EUR 1.0 million, EBITDA for the first half of 2016 was down 37.5% year on year against EUR 1.6 million in first half 2015. EBIT for the first half of 2016 stood at minus EUR 1.8 million compared with minus EUR 1.7 million in the same period of 2015. The financial result in the first half of 2016 stood at EUR 0.1 million compared with minus EUR 0.7 million in the same period of 2015. This was due to reductions of EUR 0.6 million and EUR 0.4 million in financial expenses in the first half-year and second quarter respectively, primarily as a result of lower interest expenses for loans. EBT stood at minus EUR 1.7 million in the first half of 2016 against loss of EUR 2.3 million in first half 2015. Consolidated net loss from continuing operations was EUR 1.7 million in the first half of 2016 against EUR 3.0 million in first half 2015. Consolidated loss per share from continuing operations stood at minus EUR 0.03 in the first half of 2016 compared with minus EUR 0.05 in the same period of 2015.
In the view of the Management Board, the mentioned envisaged investment in products and services will have a positive impact on consolidated revenue and thus on the HolidayCheck Group's operating EBITDA in the medium to long term. For the current financial year, the Management Board expects Group EBITDA to at least reach the break-even point despite planned spending on investment and its strategy of increasing market share.