ebookers.com Announces Record Q1 2000 Results Consolidated Sales in Q1 Greater Than Whole of 1999 - 170% Growth
LONDON, April 17 /PRNewswire/ -- ebookers.com (Nasdaq: EBKR) (Neuer Markt: eb6), Europe's No. 1 online travel specialist, today announces financial results for the first quarter ended 31 March 2000.
Financial Highlights:
-- Consolidated Q1 2000 sales increased over 10 times compared to Q1 1999 to $24.9m (Q4 1999: $2.4m)
-- Consolidated Q1 sales 65% above estimated market expectations of $15m
-- Cash balance at 31st March 2000 at more than $32m
-- Loss per share excluding stock compensation costs was 59 cents compared to estimated expectations of 82 cents
Business Highlights:
Exclusive, 2 year agreement, as a primary and preferred travel partner across AOL Europe
European acquisition programme is near completion; presence in 10 countries
Relationships with 100 airlines to sell negotiated and published airfares, up from 72
Agreements signed to form innovative partnerships with Egg.com, Chelsea FC, Paris St Germain FC, E.piphany and Sportal
Visits increased from 708,000 in January 2000 to 1,580,000 in March 2000.
Commenting on the announcement, Dinesh Dhamija, CEO of ebookers.com said:
"Following an incredibly active first quarter in terms of growing the business and brand recognition across Europe, it is encouraging that our revenues have increased by more than the market had anticipated, consolidating our position as the clear leader in the European online travel market, with a presence in 10 countries."
About ebookers.com
ebookers.com plc is a leading online European travel agency offering complete one-stop, online shopping with a host of travel products and services, including negotiated discount airfares with 100 major airlines, and discounts with over 14,000 hotels worldwide. ebookers.com is the technology and travel spin-off from Flightbookers plc, the London based travel agency which in 1996 became the first travel company to establish an interactive website in the UK. The ebookers.com group also established the first interactive travel websites in France and Finland. The company was established as a separate internet company in June 1999. ebookers.com currently operates in the following ten countries: France, Germany, Finland, Sweden, Norway, Denmark, Switzerland, Ireland, Netherlands and the UK. The company completed its initial public offering in November 1999 listing on the Nasdaq (EBKR) and the Neuer Markt (eb6).
Forward Looking Statements
Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, without limitation, the company's ability to identify, acquire and integrate its potential subsidiaries across Europe, its ability to significantly increase its online revenues and sales volumes, to maintain and develop relationships with travel suppliers and strategic partners and to attract and retain customers, potential adverse changes in its gross mark up or in commission rates, unforeseen events affecting the travel industry, the impact of year 2000 issues, and the company's dependence on its ability to establish its brand. These and other risk factors are described in detail in the company's Prospectus dated 11 November 1999, which has been filed with the Securities and Exchange Commission, USA and the German Prospectus dated 11 November 1999, filed with the Neuer Market, of the Frankfurt Stock Exchange, Germany.
ebookers.com Plc and Subsidiaries
Condensed Consolidated Statement of Operations
Comparison of Quarter to 31 March 2000
Against Quarter to 31 December 1999
USD $ USD $ GBP in pounds GBP in pounds
000's 000's 000's 000's
Quarter Quarter Quarter Quarter
31 Mar 2000 31 Dec 1999 31 Mar 2000 31 Dec 1999
Sales 24,870 9,282 15,483 5,742
% Change 170%
Gross profit
excluding gross
profit from sales
by Ireland
customer
centre to
Flightbookers Plc 3,025 1,108 1,883 685
Gross profit %
excluding sales
to Flightbookers
Plc 12.2% 11.9% 12.2% 11.9%
Total gross
profit 3,025 1,063 1,883 658
Operating expenses:
Marketing and sales 8,738 2,393 5,440 1,480
Product technology &
development 885 497 551 307
General and
administrative 3,266 1,643 2,033 1,017
Depreciation and
amortization 953 105 594 65
Total operating
expenses excl.
stock
compensation 13,842 4,638 8,618 2,869
Operating profit
/(loss) excluding
stock
compensation (10,817) (3,575) (6,735) (2,211)
Net Interest and
other income 757 115 471 71
Profit / (loss)
before tax excl
stock
compensation (10,060) (3,460) (6,264) (2,140)
Number of shares
weighted average
17,069,189 15,494,347 17,069,189 15,494,347
Profit/(loss)/
per share excl
stock
compensation (0.59) (0.22) (0.37) (0.14)
Stock compensation
expense at grant
price
(incl. N.I.) 4,954 12,319 3,084 7,621
Stock compensation
expense due to share
price appreciation
(inc. N.I.) 7,118 -- 4,431 --
Profit/(loss) before
tax and dividends
after stock
compensation
expense (22,132) (15,779) (13,779) (9,761)
Number of negotiated
fare tickets
sold (actual) 61,263 19,798 61,263 19,798
Total number of
tickets sold
(actual) 82,745 25,864 82,745 25,864
Sales incl.
published fares
at gross booking
value (000s) 30,891 10,851 19,232 6,713
Exchange rate at
end of period
($ per pound) 1.6063 1.6165
ebookers.com Plc and Subsidiaries
Condensed Consolidated Statement of Operations
Comparison of Quarter to 31 March 2000 against quarter to 31 March 1999
USD $ USD $ GBP in pounds GBP in pounds
000's 000's 000's 000's
Quarter Quarter Quarter Quarter
31 Mar 2000 31 Mar 1999 31 Mar 2000 31 Mar 1999
Sales 24,870 2,430 15,483 1,508
% Change 927%
Gross profit excluding
gross profit from sales
by Ireland customer
centre to
Flightbookers Plc 3,025 242 1,883 150
Gross profit %
excluding sales
to Flightbookers
Plc 12.2% 11.5% 12.2% 11.5%
Total gross profit 3,025 577 1,883 358
Operating expenses:
Marketing and sales 8,738 371 5,440 230
Product technology &
development 885 -- 551 --
General and
administrative 3,266 226 2,033 140
Depreciation and
amortization 953 21 594 13
Total operating expenses
excl. stock
compensation 13,842 618 8,618 383
Operating profit / (loss)
excluding stock
compensation (10,817) (41) (6,735) (25)
Net Interest and
other income 757 10 471 6
Profit/(loss) before
tax excl stock
compensation (10,060) (31) (6,264) (19)
Number of shares
weighted
average 17,069,189 12,144,711 17,069,189 12,144,711
Profit / (loss) /
per share excl
stock compensation (0.59) (0.00) (0.37) (0.00)
Stock compensation
expense at grant
price (inc. N.I.) 4,954 824 3,084 512
Stock compensation
expense due to
share price
appreciation
(inc. N.I.) 7,118 -- 4,431 --
Profit / (loss)
before tax and
dividends after
stock compensation
expense (22,132) (855) (13,779) (531)
Number of negotiated
fare tickets sold
(actual) 61,263 4,097 61,263 4,097
Total number of tickets
sold (actual) 82,745 4,241 82,745 4,241
Sales incl. published fares
at gross booking
value (000s) 30,891 2,499 19,232 1,550
Exchange rate at end
of period ($ per
pound) 1.6063 1.612
SOURCE ebookers.com
CONTACT: Dinesh Dhamija, CEO, or Glenn Trouse, Chief Marketing Officer, +44-207-757-2600, or Jenny Evans, Investor Relations Manager, +44-207-757-2669, all of ebookers.com; or Alex Mackey, +44-7808-581-674, or Richard Sunderland, +44-207-398-0812, both for GCI Focus Group Ltd, +44-207-398-0800; or Emmanuelle Thiney, +1-212-508-9651, or Mac McNeer,
LONDON, April 17 /PRNewswire/ -- ebookers.com (Nasdaq: EBKR) (Neuer Markt: eb6), Europe's No. 1 online travel specialist, today announces financial results for the first quarter ended 31 March 2000.
Financial Highlights:
-- Consolidated Q1 2000 sales increased over 10 times compared to Q1 1999 to $24.9m (Q4 1999: $2.4m)
-- Consolidated Q1 sales 65% above estimated market expectations of $15m
-- Cash balance at 31st March 2000 at more than $32m
-- Loss per share excluding stock compensation costs was 59 cents compared to estimated expectations of 82 cents
Business Highlights:
Exclusive, 2 year agreement, as a primary and preferred travel partner across AOL Europe
European acquisition programme is near completion; presence in 10 countries
Relationships with 100 airlines to sell negotiated and published airfares, up from 72
Agreements signed to form innovative partnerships with Egg.com, Chelsea FC, Paris St Germain FC, E.piphany and Sportal
Visits increased from 708,000 in January 2000 to 1,580,000 in March 2000.
Commenting on the announcement, Dinesh Dhamija, CEO of ebookers.com said:
"Following an incredibly active first quarter in terms of growing the business and brand recognition across Europe, it is encouraging that our revenues have increased by more than the market had anticipated, consolidating our position as the clear leader in the European online travel market, with a presence in 10 countries."
About ebookers.com
ebookers.com plc is a leading online European travel agency offering complete one-stop, online shopping with a host of travel products and services, including negotiated discount airfares with 100 major airlines, and discounts with over 14,000 hotels worldwide. ebookers.com is the technology and travel spin-off from Flightbookers plc, the London based travel agency which in 1996 became the first travel company to establish an interactive website in the UK. The ebookers.com group also established the first interactive travel websites in France and Finland. The company was established as a separate internet company in June 1999. ebookers.com currently operates in the following ten countries: France, Germany, Finland, Sweden, Norway, Denmark, Switzerland, Ireland, Netherlands and the UK. The company completed its initial public offering in November 1999 listing on the Nasdaq (EBKR) and the Neuer Markt (eb6).
Forward Looking Statements
Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, without limitation, the company's ability to identify, acquire and integrate its potential subsidiaries across Europe, its ability to significantly increase its online revenues and sales volumes, to maintain and develop relationships with travel suppliers and strategic partners and to attract and retain customers, potential adverse changes in its gross mark up or in commission rates, unforeseen events affecting the travel industry, the impact of year 2000 issues, and the company's dependence on its ability to establish its brand. These and other risk factors are described in detail in the company's Prospectus dated 11 November 1999, which has been filed with the Securities and Exchange Commission, USA and the German Prospectus dated 11 November 1999, filed with the Neuer Market, of the Frankfurt Stock Exchange, Germany.
ebookers.com Plc and Subsidiaries
Condensed Consolidated Statement of Operations
Comparison of Quarter to 31 March 2000
Against Quarter to 31 December 1999
USD $ USD $ GBP in pounds GBP in pounds
000's 000's 000's 000's
Quarter Quarter Quarter Quarter
31 Mar 2000 31 Dec 1999 31 Mar 2000 31 Dec 1999
Sales 24,870 9,282 15,483 5,742
% Change 170%
Gross profit
excluding gross
profit from sales
by Ireland
customer
centre to
Flightbookers Plc 3,025 1,108 1,883 685
Gross profit %
excluding sales
to Flightbookers
Plc 12.2% 11.9% 12.2% 11.9%
Total gross
profit 3,025 1,063 1,883 658
Operating expenses:
Marketing and sales 8,738 2,393 5,440 1,480
Product technology &
development 885 497 551 307
General and
administrative 3,266 1,643 2,033 1,017
Depreciation and
amortization 953 105 594 65
Total operating
expenses excl.
stock
compensation 13,842 4,638 8,618 2,869
Operating profit
/(loss) excluding
stock
compensation (10,817) (3,575) (6,735) (2,211)
Net Interest and
other income 757 115 471 71
Profit / (loss)
before tax excl
stock
compensation (10,060) (3,460) (6,264) (2,140)
Number of shares
weighted average
17,069,189 15,494,347 17,069,189 15,494,347
Profit/(loss)/
per share excl
stock
compensation (0.59) (0.22) (0.37) (0.14)
Stock compensation
expense at grant
price
(incl. N.I.) 4,954 12,319 3,084 7,621
Stock compensation
expense due to share
price appreciation
(inc. N.I.) 7,118 -- 4,431 --
Profit/(loss) before
tax and dividends
after stock
compensation
expense (22,132) (15,779) (13,779) (9,761)
Number of negotiated
fare tickets
sold (actual) 61,263 19,798 61,263 19,798
Total number of
tickets sold
(actual) 82,745 25,864 82,745 25,864
Sales incl.
published fares
at gross booking
value (000s) 30,891 10,851 19,232 6,713
Exchange rate at
end of period
($ per pound) 1.6063 1.6165
ebookers.com Plc and Subsidiaries
Condensed Consolidated Statement of Operations
Comparison of Quarter to 31 March 2000 against quarter to 31 March 1999
USD $ USD $ GBP in pounds GBP in pounds
000's 000's 000's 000's
Quarter Quarter Quarter Quarter
31 Mar 2000 31 Mar 1999 31 Mar 2000 31 Mar 1999
Sales 24,870 2,430 15,483 1,508
% Change 927%
Gross profit excluding
gross profit from sales
by Ireland customer
centre to
Flightbookers Plc 3,025 242 1,883 150
Gross profit %
excluding sales
to Flightbookers
Plc 12.2% 11.5% 12.2% 11.5%
Total gross profit 3,025 577 1,883 358
Operating expenses:
Marketing and sales 8,738 371 5,440 230
Product technology &
development 885 -- 551 --
General and
administrative 3,266 226 2,033 140
Depreciation and
amortization 953 21 594 13
Total operating expenses
excl. stock
compensation 13,842 618 8,618 383
Operating profit / (loss)
excluding stock
compensation (10,817) (41) (6,735) (25)
Net Interest and
other income 757 10 471 6
Profit/(loss) before
tax excl stock
compensation (10,060) (31) (6,264) (19)
Number of shares
weighted
average 17,069,189 12,144,711 17,069,189 12,144,711
Profit / (loss) /
per share excl
stock compensation (0.59) (0.00) (0.37) (0.00)
Stock compensation
expense at grant
price (inc. N.I.) 4,954 824 3,084 512
Stock compensation
expense due to
share price
appreciation
(inc. N.I.) 7,118 -- 4,431 --
Profit / (loss)
before tax and
dividends after
stock compensation
expense (22,132) (855) (13,779) (531)
Number of negotiated
fare tickets sold
(actual) 61,263 4,097 61,263 4,097
Total number of tickets
sold (actual) 82,745 4,241 82,745 4,241
Sales incl. published fares
at gross booking
value (000s) 30,891 2,499 19,232 1,550
Exchange rate at end
of period ($ per
pound) 1.6063 1.612
SOURCE ebookers.com
CONTACT: Dinesh Dhamija, CEO, or Glenn Trouse, Chief Marketing Officer, +44-207-757-2600, or Jenny Evans, Investor Relations Manager, +44-207-757-2669, all of ebookers.com; or Alex Mackey, +44-7808-581-674, or Richard Sunderland, +44-207-398-0812, both for GCI Focus Group Ltd, +44-207-398-0800; or Emmanuelle Thiney, +1-212-508-9651, or Mac McNeer,
