Homes & Holiday AG

  • WKN: A2GS5M
  • ISIN: DE000A2GS5M9
  • Land: Deutschland

Nachricht vom 29.05.2019 | 09:30

Homes & Holiday AG back on track: sales increased by 26% as per end of April in core market

DGAP-News: Homes & Holiday AG / Key word(s): Expansion/Forecast

29.05.2019 / 09:30
The issuer is solely responsible for the content of this announcement.

Homes & Holiday AG back on track: sales increased by 26% as per end of April in core market

- Focus on Balearic Islands and cost reduction shows first successes
- Target: Break-even in 2020

Munich/Palma de Mallorca, 29 May 2019 - Homes & Holiday AG (ISIN: DE000A2GS5M9), specialist for holiday properties in Spain and city properties in Germany, has posted a successful start for the first four months 2019. Real Estate net sales in Mallorca rose by 26 percent year-on-year to EUR 0.52 million. Thus, current net sales were above levels achieved in the record year 2017 in the period January and April. In Mallorca alone, properties with a total value of around 24 million euros were brokered by April 2019, which further strengthens the strong position of the franchisor in this important market. In the holiday rental segment, sales rose to 200,000 euros in the first four months. At the same time, Group-wide cost reduction is being consistently implemented. As a result, Homes & Holiday is currently on track to break even as planned in the coming year.

Homes & Holiday reacted in Autumn to the difficult 2018 financial year by adjusting its strategic orientation. The focus is clearly on reaching break-even in 2020. Until then, Homes & Holiday will concentrate on the Balearic Islands. With an annual transaction volume of over EUR 4 billion, the real estate market offers significant growth potential for the Group in Mallorca. The Group's local real estate subsidiary, Porta Mallorquina, is one of Mallorca's leading brokers. In June 2018, Portals Nous was added as the ninth location. In the Summer of 2018, the first Porta Mondial real estate shop was opened on Menorca. In the first half of the current year, two new licenses were added: one for the central island region and the second covering Palma West.

With regards to the holiday rental activities, the Group ranks second in the Balearic Islands with its booking portal and has exceeded the critical size of 1,000 holiday homes as measured by of the number of holiday homes on offer. The providers Top Villas Mallorca, Finca Booking and EasyFinca were acquired in 2018. The Group is thus well positioned to take advantage of the integrated business model of real estate brokerage and holiday rental.

In order to reduce costs, all structures have been reviewed since Autumn 2018 and numerous measures have been implemented. These included the merger of the headquarters for the German activities (previously in Düsseldorf) and the Spanish business. All franchise partners are now serviced through headquarters in Palma. This was accompanied by a significant reduction in the number of employees. The consistent strategy adjustment also meant that the managing director for Spain and management responsible for Germany had to be dismissed. Overall, Homes & Holiday has thus reduced its annual cost base by around EUR 1.6 million.

"The start to 2019 shows that we are on the right track. In our core market, we have enough growth potential to build a sustainably profitable business model," says Joachim Semrau, founder and CEO of Homes & Holiday AG. "At the same time, we will continue to consistently implement our cost management. Achieving break-even in 2020 is our top priority".

Homes & Holiday AG // Ludwigstraße 8 // 80539 Munich //

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Ulrike Eschenbecher // Tel. +49 171 753 26 10 // Tel. +49 89 2060 21 38 //

Investor Relations & Financial Press
Fabian Lorenz // Tel. +49 221 29 83 15 88 //

About Homes & Holiday AG
Headquartered in Munich, Homes & Holiday AG is the first franchise system to specialise in holiday properties together with its subsidiaries Porta Mondial, Porta Mallorquina, and Porta Holiday. Within an integrated business model, the Group offers all services from traditional brokerage (Porta Mondial / Porta Mallorquina), holiday leasing (Porta Holiday) to property management (through external service providers). The group focuses its locations on Spain and Germany, Europe's most attractive markets for holiday real estate.

29.05.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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