Income statement 1.1 - 30.9.07 1.1 - 30.9.06 Change in %
in CHF million
Turnover 3 515 3 062 +14.8
Gross profit 756.6 649.6 +16.5
Gross profit margin (%) 21.5 21.2
Earnings before interest and 103.5 88.3 +17.2
taxes (EBIT)
EBIT margin (%) 2.9 2.9
Net result 99.2 86.7 +14.4
Free cash flow 218.1 177.4 +22.9
The Kuoni Group's total turnover for the first nine months of 2007
was a 14.8% improvement on the same period last year. Organic growth
accounted for 4.9 percentage points of this turnover increase. EBIT
for the period showed even greater growth of 17.2%.
Free cash flow stood at a record CHF 218.1 million.
Strategic Business Units Asia & Destination Management and
Scandinavia posted excellent results for the period, while Strategic
Business Unit Europe delivered an encouraging performance. Kuoni
Switzerland saw the launch of a restructuring programme to raise its
currently-weak margin performance. At Kuoni UK, the new management is
now in place and is currently devising the actions required to bring
the unit back onto a successful track.
The Kuoni Group further expanded its strong position in the
specialist segment through the acquisitions of CV Travel (UK), Les
Ateliers du Voyage (France) and UTE Megapolus (Russia), while the
acquisition of Denmark-based tour operator Falk Lauritsen Rejser A/S
strengthened Kuoni's position in the Danish travel market.
The structural adjustments announced under the present corporate
transformation are proceeding according to plan.
From its current perspective, the Kuoni Group expects to post
turnover of more than CHF 4.5 billion and an EBIT of more than CHF
130 million for 2007 as a whole.
_______________________________________
Further information:
Laurence Bienz
Head of Investor Relations
Kuoni Travel Holding Ltd.
Neue Hard 7
CH-8010 Zurich
Phone +41 44 277 4529
Fax +41 44 277 4031
Email laurence.bienz@kuoni.com
