HolidayCheck Group AG adjusts its revenue and earnings guidance for financial 2019 following the insolvency of Thomas Cook GmbH

Munich, Germany, 25 September 2019 - The insolvency of Thomas Cook GmbH, Oberursel, Germany, which was announced today, is expected to result in extraordinary burdens to the revenue and operating EBITDA of HolidayCheck Group AG in financial 2019. Among other things, bad debt losses, repayment claims from the challenge of payments already made and further consequential losses are to be expected. The exact amount depends on the further course of the insolvency proceedings.

Against the background of the current information situation, HolidayCheck Group AG has adjusted its revenue and earnings forecast for financial 2019 as follows:

HolidayCheck Group AG now anticipates a year-on-year increase in revenues of between 1.0 percent and 4.0 percent and an operating EBITDA of between EUR 2.0 million and EUR 6.0 million.

The previous forecast for financial year was revenue growth of between 3.0 percent and 6.0 percent and operating EBITDA of between EUR 7.5 million and EUR 10.5 million.

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