Amsterdam / Chiasso, 18 November 2022 - As shared yesterday, the Swiss State Secretariat for Economic Affairs (SECO) recently launched an administrative procedure. SECO notified the company's subsidiaries today that the total benefits amounting to CHF 28'936'537.75 (approx. EUR 29 million at today's exchange rate) must be repaid in full by the concerned Swiss subsidiaries. The argument on which SECO based its ruling is that the system that the Swiss subsidiaries had in place to monitor the hours worked in the period under review did not meet all the specific requirements that the law formally required to access such subsidies. The Company will evaluate the SECO decision and then decide on the path forward. The Company had already added a conservative provision of EUR 34 million into its Q3 2022 results.
About lastminute.com
lastminute.com is the European Travel-Tech leader in dynamic holiday packages. It operates a portfolio of well-known brands such as lastminute.com, Volagratis, Rumbo, weg.de, Bravofly, Jetcost and Hotelscan. Our vision is to design the future of travel
tourism using digital technology as an enabler. We continuously invest in talented people who ensure our offering is closer to the needs of the customers and keep us at the cutting edge of technology evolution. We run our business in 17 languages and 40 countries, with more than 1,500 employees spread across our offices worldwide, developing our own products and services to power the entire traveller journey for millions of people. lastminute.com N.V. is a publicly-traded company listed under the ticker symbol LMN on SIX Swiss Exchange.
Press contact
Press contact
Investor contact
lastminute.com
IRF
lastminute.com
corporatepr@
Martin Meier-Pfister
Pier Andrea Comoglio
lastminute.com
direct: +41 43 244 81 40
mob.: +41 76 582 91 52
lmn@irf-reputation.ch
investor.relations@
lastminute.com
Attachments
Original Link
Original Document
Permalink
Disclaimer
Lastminute.com NV published this content on 18 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 November 2022 17:08:08 UTC.
Lastminute.com NV, formerly Bravofly Rumbo Group BV, is a Switzerland-based company that operates online search platforms. Consumers can search for and compare flights, hotel rooms, package holidays, cruises, rental car offers, shared mobility providers, restaurants, insurance and other travel-related products. Users can also book and buy these services using the Companyâs platforms and Websites, such as Bravofly, Rumbo, Volagratis, Viaggiare, Viajar, Crocierissime, Bravoavia, Jetcost and hotelscan. The Company is organized into two segments: The Travel Business Unit and the Media Business Unit. The Company is active in more than 35 countries and is also engaged in the development of mobile travel applications with geo-referencing features. Its subsidiaries include Map2app and Bat Sharing, among others.
LASTMINUTE.COM N.V. 
