TOMORROW FOCUS AG increased its share of the online travel market in the first quarter of 2016 against a background of general industry weakness.

According to the company's own estimates, this weakness particularly affected overall package holiday sales in Central Europe, which ended the quarter around ten percent lower year on year. One of the main factors in this downturn was the series of terrorist attacks in France, Turkey and Belgium. The heightened sense of insecurity that this created among holidaymakers translated into a greater reluctance to make travel bookings.

In this context, HolidayCheck AG nevertheless achieved a single-digit first-quarter increase in revenue from package holiday bookings, its largest business segment, compared with the first quarter of 2015 and increased its market share by a significant margin.

As planned, first-quarter revenue at TOMORROW FOCUS AG's Dutch subsidiary WebAssets B.V. was down on the previous year. This was mainly due to the sale of Zoover's and Tjingo's travel agency operations at the end of 2015 and the almost complete discontinuation of WeerOnline's B2B activities.

TOMORROW FOCUS AG's total consolidated revenue for the first quarter of 2016 was EUR 30.1 million, down 1.0 percent compared with EUR 30.4 million in the same period of 2015.

EBITDA in the first quarter of 2016 stood at EUR 0.7 million, down 61.1 percent compared with the figure of EUR 1.8 million in the same quarter of 2015.

At EUR 0.4 million, operating EBITDA in the first quarter of 2016 was 88.9 percent lower compared with EUR 3.6 million in the first quarter of 2015.

First-quarter EBIT for 2016 was minus EUR 0.7 million (first quarter 2015: EUR 0.2 million).

The financial result improved from minus EUR 0.3 million in the first quarter of 2015 to EUR 0.0 million in the period under review.

This was due to a reduction in financial expenses following the complete repayment of all outstanding bank loans.

EBT in the first quarter of 2016 was minus EUR 0.7 million (first quarter 2015: minus EUR 0.1 million).

Consolidated net loss from continuing operations stood at EUR 0.7 million in the first quarter of 2016 compared with EUR 0.8 million in the same quarter of 2015.

Consolidated net income from discontinued operations amounted to EUR 0.5 million in the first quarter of 2016 compared with a consolidated net loss of EUR 0.1 million in the same quarter of 2015.

Consolidated net loss was EUR 0.3 million in the first quarter of 2016 compared with EUR 0.8 million in the same quarter of 2015.

Consolidated earnings per share from continuing operations stood at minus EUR 0.01 in the first quarter of 2016 and were therefore unchanged year on year.

Consolidated earnings per share from discontinued operations stood at EUR 0.01 in the first quarter of 2016 compared with EUR 0 in the same quarter of 2015.

Consolidated earnings per share from all operations stood at EUR 0 in the first quarter of 2016 compared with minus EUR 0.01 in the same quarter of 2015.

As at 31 March 2016, the equity ratio stood at 84.5 percent, up from the figure of 76.3 percent as at 31 December 2015.

Outlook

The TOMORROW FOCUS Group's vision is to build the most holidaymaker-friendly company in the world.

Our main focus in financial 2016 and beyond will again be on steps to intensify investment in the further development of the products and services offered by the TOMORROW FOCUS Group's holiday brands. In the first quarter of 2016, for example, there was an eightfold increase in the number of A/B tests, which compare the impact of different versions of a website.
In addition, we are not excluding the possibility of targeted acquisitions of digital travel companies that could usefully complement our existing portfolio.

In total, after adjusting for acquisitions and disposals, the Management Board believes that the consolidated revenue of the TOMORROW FOCUS Group could be increased in financial 2016 by a percentage figure in the middle single digits (and therefore above the industry average) compared with the previous year.

In the view of the Management Board, the above-mentioned investment in products and services will have a positive impact on consolidated revenue and thus on the TOMORROW FOCUS 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.

Proposal to change trading name to HolidayCheck Group AG
The Management Board and Supervisory Board of TOMORROW FOCUS AG have decided to submit a proposal to the annual general meeting of 16 June 2016 that the trading name of the company be changed to reflect its current business purpose and that the general meeting of shareholders therefore adopt a resolution to change the company's name to HolidayCheck Group AG. Provided that the resolution is approved by the annual general meeting, the change of name will take effect when it is entered in the commercial register.

Note on publication

The German version of the interim report for the first quarter of 2016 will be published during the course of the day on the company's website at www.tomorrow-focus.de under the heading 'Investor Relations/Unternehmensberichte'. The English version will be published shortly thereafter at www.tomorrow-focus.com under the heading Investor Relations/Company reports.

About TOMORROW FOCUS AG

TOMORROW FOCUS AG (ISIN DE005495329) is based in Munich, Germany, and is one of Europe's leading digital travel firms for holidaymakers. With a total workforce of around 400, the TOMORROW FOCUS Group comprises HOLIDAYCHECK AG (which operates hotel review and travel booking portals by the same name and the car rental portal MIETWAGENCHECK) and WEBASSETS B.V. (which operates the ZOOVER hotel review portals and the METEOVISTA/WEERONLINE weather portals). The TOMORROW FOCUS Group's vision is to build the most holidaymaker-friendly company in the world.

Tomorrow Focus AG published this content on 04 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 04 May 2016 06:53:04 UTC.

Original documenthttp://www.tomorrow-focus.com/investor-relations/finanznews/tomorrow-focus-ag-increases-market-share-in-first-quarter-proposal-to-change-trading-name-to-holidaycheck-group-ag_aid_1474.html

Public permalinkhttp://www.publicnow.com/view/0A8CA7072755EDF52C6FCB028A3DAC21DF28E2BE