Homes & Holiday AG
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 Homes & Holiday AG back on track: sales increased by 26% as per end of April in core market
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 https://www.portaholiday.com 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”.
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29.05.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | Homes & Holiday AG |
Ludwigstraße 8 | |
80539 Munich | |
Germany | |
Phone: | +49 211 86 81 57 30 |
E-mail: | info@homes-holiday.com |
Internet: | www.homes-holiday.de |
ISIN: | DE000A2GS5M9 |
WKN: | A2GS5M |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Munich (m:access) |
EQS News ID: | 816829 |
End of News | DGAP News Service |