ebookers.com Doubles First Quarter Gross Sales

- Gross Sales of $61.8m Q1 2001 (Q1 2000: $30.9m) -

- Gross sales Q1 2001, 42% Higher than Q4 2000 -



Apr 30, 2001, 01:00 ET from ebookers.com

    LONDON, April 30 /PRNewswire/ -- ebookers.com (Nasdaq:   EBKR) (London: EBR)
 (Neuer Markt: eb6), a leading pan-European online travel company, today
 announces record financial results for the first quarter ended 31 March 2001.
 
     Financial highlights
 
       Q1 2001
     * Gross sales of $61.8m (42.3m pounds sterling (pounds)) for the quarter,
       42% higher than Q4 2000 ($43.6m, 30.1m pounds), and double that of Q1
       2000 ($30.9m, 19.2m pounds)
 
     * Consolidated sales of $48.7m (33.3m pounds) for the quarter, 35% higher
       than Q4 2000 ($36.0m, 24.9m pounds) and 96% higher than Q1 2000 ($24.9m,
       15.5m pounds)
 
     * Gross profit of $6.3m (4.3m pounds), 53% higher than Q4 2000 ($4.2m,
       2.9m pounds) and 110% greater than Q1 2000 ($3.0m, 1.9m pounds)
 
     * Gross margin of 13% (Q1 2000 12.2%)
 
     * Loss per ADS 48 cents (excluding stock compensation costs and London
       listing / fund raising costs written off)
 
     * Cash balance at 31st March 2001, $43.8m (31st December 2000, $50.0m)
 
     * Industry-leading average gross transaction size of $786 (540 pounds).
 
     Business highlights
 
     * ebookers.com remains on target to become cash flow positive by Q4 2001
       or Q1 2002
 
     * Acquisition of MrJet, a leading Nordic online travel company, makes
       ebookers.com the leader in the region
 
     * ebookers.com successfully listed on the London Stock Exchange,
       23rd April 2001
 
     * Pan-European supplier consolidation continues with group wide contracts
       in place with Alamo and Amadeus.
 
     * Site traffic demonstrated continued strong growth, increasing to 10.1m
       in Q1 2001.  Site visits grew by 165% compared to Q1 2000 (3.8m) and 33%
       compared to Q4 2000 (7.6m).
 
     CEO's STATEMENT
     We are pleased to announce strong results that once again confirm the
 strength of our business model and reconfirm the company's confidence in
 achieving its current cash-flow positive forecast of Q4 2001 or Q1 2002.
 Gross margins on reported sales have increased to 13% compared to 12.2% in Q1
 2000, and 11.5% in Q4 2000.  ebookers.com focuses on negotiated merchant
 inventory which has higher average margins than standard published tickets.
 ebookers.com's average transaction size remains over twice the size of all
 major competitors, confirming our customers' confidence in the ebookers.com
 brand.  Site traffic growth remains strong, evidence of the suitability of the
 internet for the sale of travel, in comparison to many other business to
 consumer e-commerce sectors.
     We have recently acquired MrJet in Scandinavia, as part of our strategy of
 expansion through acquisition in key markets.  Integration of MrJet with our
 existing Nordic operations is now in progress, with a focus on centralizing
 operations and stripping out operating costs.
 
     Reducing costs, maintaining growth
     We have continued to implement measures both to increase cost-effective
 growth, and to reduce operating expenditure.  Operating expenditure decreased
 as a proportion of total reported sales from 34.3% in Q4 2000 to 30.0% in Q1
 2001 (Q1 2000 51.8%) (excluding excl stock compensation expenses, depreciation
 + amortisation + one off London listing / share issue costs written off).
     G&A expenditure reduced by 11% in real terms in Q1 2001, to $4.8m (3.3m
 pounds), down from $5.4m, (3.7m pounds) in Q4 2000.  It reduced as proportion
 of reported sales from 15.5% in Q4 2000 to 9.8% in Q1 2001.  The company has
 started to successfully reduce back office costs and continues the integration
 of its European operations, in particular the integration of Flightbookers plc
 in the UK.
     Customer-facing improvements include the introduction in April of
 Available Fares Only flight-searching technology on our websites, with the aim
 of increasing sales conversion and usability.  A new look and feel is also in
 an advanced stage of development.
 
     Outlook
     We will continue to remain highly focused on reducing expenditure while
 maintaining cost-effective growth, with cash burn falling to under $1.5m per
 month in H2 2001.  The company is on target to become cash flow positive in Q4
 2001 or Q1 2002.
 
     Q1 2001 Analyst and Investor Conference Call:
     Please note that ebookers.com is holding an interactive telephone investor
 conference call to review the Q1 2001 financial results.  This will also be
 web-cast live on the investor relations section of ebookers.com website,
 www.ebookers.com .
 
     Monday 30 April 2001, 11.00 (EST) / 16:00 (UK Time)
     Dial-in:
     USA  +1-800-482-2239            UK/Europe: +44-20-8240-8240
 
     Please dial in 10 minutes prior to the conference call and quote
 'ebookers.com conference call'.  There will be a replay of the conference call
 available at 17:00 (UK Time) on April 30th until midnight on May 4th.
 
     Replay number
     USA        +1-800-625-5288   (Pin: 1013257)
     UK/Europe  +44-20-8288-4459 (Pin: 648432)
 
     About ebookers.com
     ebookers.com is a leading pan-European online European travel agency
 offering complete one-stop, online shopping with a host of travel products and
 services, including negotiated discount airfares with 120 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.
 The company was established as a separate Internet company in June 1999.
 ebookers.com operates in the following eleven countries: Denmark, Finland,
 France, Germany, Ireland, Netherlands, Norway, Spain, Sweden, Switzerland and
 the UK.  The company completed its initial public offering in November 1999
 listing on Nasdaq and the Neuer Markt in Frankfurt, Germany.  In April 2001,
 ebookers.com listed on the London Stock Exchange.
 
     Forward Looking Statements
     Certain 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, 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
 US Securities and Exchange Commission and the German Prospectus dated
 11 November 1999, filed with the Neuer Markt of the Frankfurt Stock Exchange,
 Germany.
 
 
                       ebookers.com Plc and Subsidiaries
                 Condensed Consolidated Statement of Operations
 
     Comparison of Quarter to 31 Mar 2001 against Quarter to 31 Mar 2000
     (Prepared in accordance with U.S GAAP)
 
                                USD $        USD $    GBP pound    GBP pound
                                000's        000's        000's        000's
                              Quarter      Quarter      Quarter      Quarter
                               31 Mar       31 Mar       31 Mar       31 Mar
                                 2001         2000         2001         2000
 
     Sales                     48,674       24,870       33,338       15,483
     % Change                                               115%
 
     Total gross profit         6,342        3,025        4,344        1,883
     Gross profit %                13%        12.2%          13%        12.2%
 
     Operating expenses:
     Marketing and sales        8,839        8,738        6,054        5,440
     Product technology &
      development                 968          885          663          551
     General and administrative 4,781        3,266        3,274        2,033
     Depreciation and
      amortization              2,631          953        1,802          594
     London listing / fund
      raising costs
      written off               1,176           --          806           --
     Total operating expenses
      excl. stock compensation 18,395       13,842       12,599        8,618
 
     Operating profit / (loss)
      excluding stock
      compensation            (12,053)     (10,817)      (8,255)      (6,735)
     Interest and other income    562          768          385          478
     Interest payable and
      exchange losses            (400)         (11)        (274)          (7)
     Profit / (loss) before
      tax excl stock
      compensation            (11,891)     (10,060)      (8,144)      (6,264)
 
     Number of shares -
      weighted average     45,289,529   34,138,378   45,289,529   34,138,378
     (After 1 to 5 reverse split - April 2001)
     Profit / (loss) / per
      share excl stock
      compensation and London
      listing / fund raising
      costs written off         (0.24)       (0.29)       (0.16)       (0.18)
     Profit / (loss) / per ADS
      excl stock compensation
      and London listing /
      fund raising costs
      written off               (0.48)       (0.58)       (0.32)       (0.36)
 
     Stock compensation (income)
      / expense at grant price
      (inc. N.I.)                (609)       4,954         (417)       3,084
 
 
     Stock compensation (income)
      / expense due to share
      price reduction /
      appreciation (inc. N.I.)    740        7,118          507        4,431
 
     Profit / (loss) before tax
      and dividends after stock
      compensation income
      / expense               (12,022)     (22,132)      (8,234)     (13,779)
 
     Number of negotiated fare
      tickets sold (actual)   100,985       61,263      100,985       61,263
 
     Total number of tickets
      sold  (actual)          145,114       82,745      145,114       82,745
 
     Sales incl. published
      fares at gross booking
      value (000s)             61,761       30,891       42,302       19,232
 
     Average exchange rate
      for the period
      ($ per pound)            1.4600      1.60626
 
     All dollar translations are solely for the convenience of the reader
     The consolidated statement of operations only includes post acquisition
     amounts in respect of our subsidiaries.
 
 
                       ebookers.com Plc and Subsidiaries
                 Condensed Consolidated Statement of Operations
 
     Comparison of Quarter to 31 Mar 2001 against Quarter to 31 Dec 2000
     (Prepared in accordance with U.S GAAP)
 
                                USD $        USD $    GBP pound    GBP pound
                                000's        000's        000's        000's
                              Quarter      Quarter      Quarter      Quarter
                               31 Mar       31 Dec       31 Mar       31 Dec
                                 2001         2000         2001         2000
 
     Sales                     48,674       36,045       33,338       24,881
     % Change                                                34%
 
     Total gross profit         6,342        4,150        4,344        2,865
     Gross profit %                13%        11.5%          13%        11.5%
 
 
     Operating expenses:
     Marketing and sales        8,839        6,190        6,054        4,273
     Product technology &
      development                 968          622          663          430
     General and
      administrative            4,781        5,371        3,274        3,707
     Depreciation and
      amortization              2,631        2,270        1,802        1,567
     London listing / fund
      raising costs
      written off               1,176          (45)         806          (31)
     Total operating expenses
      excl. stock compensation 18,395       14,408       12,599        9,946
 
     Operating profit / (loss)
      excluding stock
      compensation            (12,053)     (10,258)      (8,255)      (7,081)
     Interest and other income    562          888          385          613
     Interest payable and
      exchange losses            (400)           7         (274)           5
     Profit / (loss) before
      tax excl stock
      compensation            (11,891)      (9,363)      (8,144)      (6,463)
 
     Number of shares -
      weighted average     45,289,529   43,756,920   45,289,529   43,756,920
     (After 1 to 5 reverse split - April 2001)
     Profit / (loss) / per
      share excl stock
      compensation and London
      listing / fund raising
      costs written off         (0.24)       (0.21)       (0.16)       (0.15)
     Profit / (loss) / per ADS
      excl stock compensation
      and London listing / fund
      raising costs written off (0.48)       (0.42)       (0.32)       (0.30)
 
     Stock compensation (income) /
      expense at grant price
      (inc. N.I.)                (609)      (8,882)        (417)      (6,131)
 
     Stock compensation (income) /
      expense due to share price
      reduction / appreciation
      (inc. N.I.)                 740        4,350          507        3,003
     Profit / (loss) before tax
      and dividends after stock
      compensation income /
      expense                 (12,022)      (4,831)      (8,234)      (3,335)
 
     Number of negotiated fare
      tickets sold (actual)   100,985       71,882      100,985       71,882
 
     Total number of tickets
      sold  (actual)          145,114       98,329      145,114       98,329
 
     Sales incl. published
      fares at gross booking
      value (000s)             61,761       43,626       42,302       30,114
 
     Average exchange rate
      for the period
      ($ per pound)            1.4600       1.4487
 
     All dollar translations are solely for the convenience of the reader.
     The consolidated statement of operations only includes post acquisition
     amounts in respect of our subsidiaries.
 
 

SOURCE ebookers.com
    LONDON, April 30 /PRNewswire/ -- ebookers.com (Nasdaq:   EBKR) (London: EBR)
 (Neuer Markt: eb6), a leading pan-European online travel company, today
 announces record financial results for the first quarter ended 31 March 2001.
 
     Financial highlights
 
       Q1 2001
     * Gross sales of $61.8m (42.3m pounds sterling (pounds)) for the quarter,
       42% higher than Q4 2000 ($43.6m, 30.1m pounds), and double that of Q1
       2000 ($30.9m, 19.2m pounds)
 
     * Consolidated sales of $48.7m (33.3m pounds) for the quarter, 35% higher
       than Q4 2000 ($36.0m, 24.9m pounds) and 96% higher than Q1 2000 ($24.9m,
       15.5m pounds)
 
     * Gross profit of $6.3m (4.3m pounds), 53% higher than Q4 2000 ($4.2m,
       2.9m pounds) and 110% greater than Q1 2000 ($3.0m, 1.9m pounds)
 
     * Gross margin of 13% (Q1 2000 12.2%)
 
     * Loss per ADS 48 cents (excluding stock compensation costs and London
       listing / fund raising costs written off)
 
     * Cash balance at 31st March 2001, $43.8m (31st December 2000, $50.0m)
 
     * Industry-leading average gross transaction size of $786 (540 pounds).
 
     Business highlights
 
     * ebookers.com remains on target to become cash flow positive by Q4 2001
       or Q1 2002
 
     * Acquisition of MrJet, a leading Nordic online travel company, makes
       ebookers.com the leader in the region
 
     * ebookers.com successfully listed on the London Stock Exchange,
       23rd April 2001
 
     * Pan-European supplier consolidation continues with group wide contracts
       in place with Alamo and Amadeus.
 
     * Site traffic demonstrated continued strong growth, increasing to 10.1m
       in Q1 2001.  Site visits grew by 165% compared to Q1 2000 (3.8m) and 33%
       compared to Q4 2000 (7.6m).
 
     CEO's STATEMENT
     We are pleased to announce strong results that once again confirm the
 strength of our business model and reconfirm the company's confidence in
 achieving its current cash-flow positive forecast of Q4 2001 or Q1 2002.
 Gross margins on reported sales have increased to 13% compared to 12.2% in Q1
 2000, and 11.5% in Q4 2000.  ebookers.com focuses on negotiated merchant
 inventory which has higher average margins than standard published tickets.
 ebookers.com's average transaction size remains over twice the size of all
 major competitors, confirming our customers' confidence in the ebookers.com
 brand.  Site traffic growth remains strong, evidence of the suitability of the
 internet for the sale of travel, in comparison to many other business to
 consumer e-commerce sectors.
     We have recently acquired MrJet in Scandinavia, as part of our strategy of
 expansion through acquisition in key markets.  Integration of MrJet with our
 existing Nordic operations is now in progress, with a focus on centralizing
 operations and stripping out operating costs.
 
     Reducing costs, maintaining growth
     We have continued to implement measures both to increase cost-effective
 growth, and to reduce operating expenditure.  Operating expenditure decreased
 as a proportion of total reported sales from 34.3% in Q4 2000 to 30.0% in Q1
 2001 (Q1 2000 51.8%) (excluding excl stock compensation expenses, depreciation
 + amortisation + one off London listing / share issue costs written off).
     G&A expenditure reduced by 11% in real terms in Q1 2001, to $4.8m (3.3m
 pounds), down from $5.4m, (3.7m pounds) in Q4 2000.  It reduced as proportion
 of reported sales from 15.5% in Q4 2000 to 9.8% in Q1 2001.  The company has
 started to successfully reduce back office costs and continues the integration
 of its European operations, in particular the integration of Flightbookers plc
 in the UK.
     Customer-facing improvements include the introduction in April of
 Available Fares Only flight-searching technology on our websites, with the aim
 of increasing sales conversion and usability.  A new look and feel is also in
 an advanced stage of development.
 
     Outlook
     We will continue to remain highly focused on reducing expenditure while
 maintaining cost-effective growth, with cash burn falling to under $1.5m per
 month in H2 2001.  The company is on target to become cash flow positive in Q4
 2001 or Q1 2002.
 
     Q1 2001 Analyst and Investor Conference Call:
     Please note that ebookers.com is holding an interactive telephone investor
 conference call to review the Q1 2001 financial results.  This will also be
 web-cast live on the investor relations section of ebookers.com website,
 www.ebookers.com .
 
     Monday 30 April 2001, 11.00 (EST) / 16:00 (UK Time)
     Dial-in:
     USA  +1-800-482-2239            UK/Europe: +44-20-8240-8240
 
     Please dial in 10 minutes prior to the conference call and quote
 'ebookers.com conference call'.  There will be a replay of the conference call
 available at 17:00 (UK Time) on April 30th until midnight on May 4th.
 
     Replay number
     USA        +1-800-625-5288   (Pin: 1013257)
     UK/Europe  +44-20-8288-4459 (Pin: 648432)
 
     About ebookers.com
     ebookers.com is a leading pan-European online European travel agency
 offering complete one-stop, online shopping with a host of travel products and
 services, including negotiated discount airfares with 120 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.
 The company was established as a separate Internet company in June 1999.
 ebookers.com operates in the following eleven countries: Denmark, Finland,
 France, Germany, Ireland, Netherlands, Norway, Spain, Sweden, Switzerland and
 the UK.  The company completed its initial public offering in November 1999
 listing on Nasdaq and the Neuer Markt in Frankfurt, Germany.  In April 2001,
 ebookers.com listed on the London Stock Exchange.
 
     Forward Looking Statements
     Certain 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, 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
 US Securities and Exchange Commission and the German Prospectus dated
 11 November 1999, filed with the Neuer Markt of the Frankfurt Stock Exchange,
 Germany.
 
 
                       ebookers.com Plc and Subsidiaries
                 Condensed Consolidated Statement of Operations
 
     Comparison of Quarter to 31 Mar 2001 against Quarter to 31 Mar 2000
     (Prepared in accordance with U.S GAAP)
 
                                USD $        USD $    GBP pound    GBP pound
                                000's        000's        000's        000's
                              Quarter      Quarter      Quarter      Quarter
                               31 Mar       31 Mar       31 Mar       31 Mar
                                 2001         2000         2001         2000
 
     Sales                     48,674       24,870       33,338       15,483
     % Change                                               115%
 
     Total gross profit         6,342        3,025        4,344        1,883
     Gross profit %                13%        12.2%          13%        12.2%
 
     Operating expenses:
     Marketing and sales        8,839        8,738        6,054        5,440
     Product technology &
      development                 968          885          663          551
     General and administrative 4,781        3,266        3,274        2,033
     Depreciation and
      amortization              2,631          953        1,802          594
     London listing / fund
      raising costs
      written off               1,176           --          806           --
     Total operating expenses
      excl. stock compensation 18,395       13,842       12,599        8,618
 
     Operating profit / (loss)
      excluding stock
      compensation            (12,053)     (10,817)      (8,255)      (6,735)
     Interest and other income    562          768          385          478
     Interest payable and
      exchange losses            (400)         (11)        (274)          (7)
     Profit / (loss) before
      tax excl stock
      compensation            (11,891)     (10,060)      (8,144)      (6,264)
 
     Number of shares -
      weighted average     45,289,529   34,138,378   45,289,529   34,138,378
     (After 1 to 5 reverse split - April 2001)
     Profit / (loss) / per
      share excl stock
      compensation and London
      listing / fund raising
      costs written off         (0.24)       (0.29)       (0.16)       (0.18)
     Profit / (loss) / per ADS
      excl stock compensation
      and London listing /
      fund raising costs
      written off               (0.48)       (0.58)       (0.32)       (0.36)
 
     Stock compensation (income)
      / expense at grant price
      (inc. N.I.)                (609)       4,954         (417)       3,084
 
 
     Stock compensation (income)
      / expense due to share
      price reduction /
      appreciation (inc. N.I.)    740        7,118          507        4,431
 
     Profit / (loss) before tax
      and dividends after stock
      compensation income
      / expense               (12,022)     (22,132)      (8,234)     (13,779)
 
     Number of negotiated fare
      tickets sold (actual)   100,985       61,263      100,985       61,263
 
     Total number of tickets
      sold  (actual)          145,114       82,745      145,114       82,745
 
     Sales incl. published
      fares at gross booking
      value (000s)             61,761       30,891       42,302       19,232
 
     Average exchange rate
      for the period
      ($ per pound)            1.4600      1.60626
 
     All dollar translations are solely for the convenience of the reader
     The consolidated statement of operations only includes post acquisition
     amounts in respect of our subsidiaries.
 
 
                       ebookers.com Plc and Subsidiaries
                 Condensed Consolidated Statement of Operations
 
     Comparison of Quarter to 31 Mar 2001 against Quarter to 31 Dec 2000
     (Prepared in accordance with U.S GAAP)
 
                                USD $        USD $    GBP pound    GBP pound
                                000's        000's        000's        000's
                              Quarter      Quarter      Quarter      Quarter
                               31 Mar       31 Dec       31 Mar       31 Dec
                                 2001         2000         2001         2000
 
     Sales                     48,674       36,045       33,338       24,881
     % Change                                                34%
 
     Total gross profit         6,342        4,150        4,344        2,865
     Gross profit %                13%        11.5%          13%        11.5%
 
 
     Operating expenses:
     Marketing and sales        8,839        6,190        6,054        4,273
     Product technology &
      development                 968          622          663          430
     General and
      administrative            4,781        5,371        3,274        3,707
     Depreciation and
      amortization              2,631        2,270        1,802        1,567
     London listing / fund
      raising costs
      written off               1,176          (45)         806          (31)
     Total operating expenses
      excl. stock compensation 18,395       14,408       12,599        9,946
 
     Operating profit / (loss)
      excluding stock
      compensation            (12,053)     (10,258)      (8,255)      (7,081)
     Interest and other income    562          888          385          613
     Interest payable and
      exchange losses            (400)           7         (274)           5
     Profit / (loss) before
      tax excl stock
      compensation            (11,891)      (9,363)      (8,144)      (6,463)
 
     Number of shares -
      weighted average     45,289,529   43,756,920   45,289,529   43,756,920
     (After 1 to 5 reverse split - April 2001)
     Profit / (loss) / per
      share excl stock
      compensation and London
      listing / fund raising
      costs written off         (0.24)       (0.21)       (0.16)       (0.15)
     Profit / (loss) / per ADS
      excl stock compensation
      and London listing / fund
      raising costs written off (0.48)       (0.42)       (0.32)       (0.30)
 
     Stock compensation (income) /
      expense at grant price
      (inc. N.I.)                (609)      (8,882)        (417)      (6,131)
 
     Stock compensation (income) /
      expense due to share price
      reduction / appreciation
      (inc. N.I.)                 740        4,350          507        3,003
     Profit / (loss) before tax
      and dividends after stock
      compensation income /
      expense                 (12,022)      (4,831)      (8,234)      (3,335)
 
     Number of negotiated fare
      tickets sold (actual)   100,985       71,882      100,985       71,882
 
     Total number of tickets
      sold  (actual)          145,114       98,329      145,114       98,329
 
     Sales incl. published
      fares at gross booking
      value (000s)             61,761       43,626       42,302       30,114
 
     Average exchange rate
      for the period
      ($ per pound)            1.4600       1.4487
 
     All dollar translations are solely for the convenience of the reader.
     The consolidated statement of operations only includes post acquisition
     amounts in respect of our subsidiaries.
 
 SOURCE  ebookers.com