ots Ad hoc-Service: AG Ascending to new heights with 323% increase in sales revenue

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    Munich (ots Ad hoc-Service) -      Ascending to new heights with
323% increase in sales revenue
    With its continued spiralling growth, Germanys leading travel
portal AG (Neuer Markt Securities Code No. 748750, TVD)
is venturing into new dimensions. In the first nine months of this
year net sales grew by 323% to DM 8.877 million. As of 30 September
2000 the consolidated annual deficit amounted to minus DM 19.4

    The numbers disclosed for the reporting period confirm the accelerated growth of AG - far in excess of the market average - and are an endorsement of the companys global expansion and investment strategy. This dynamism is also reflected in the expansion of the workforce: The current payroll of 266 represents an increase of 45 compared to the previous year.

    Selective marketing activities and co-operations enabled the company to substantially increase efficiency levels and reduce the advertising budget proposed for the IPO by approx. 50% to DM 20 million for the year 2000 as a whole. Nevertheless, with more than 60 co-operation partners and marketing successes in the TV, print and online sectors, it has meanwhile been possible to raise the familiarity level in excess of target. It is thus hardly surprising that independent market studies have produced extremely positive evaluations in terms of familiarity, affinity and willingness of consumers to use the service. AG anticipates further growth in revenue in the forthcoming 4th quarter, the Groups travel-related sales for the overall business year 2000 being estimated at approx. DM 200 million.

    With over DM 82 million in available funds (as of 30.09.2000), is assured of adequate liquidity until well beyond the break-even point and is strategically well positioned to secure for itself an above-average share in anticipated developments in the tourism market of the future.

    Contact: AG Investor Relations Silke Siegel and Klaus Artmann Weinstraße 3 80333 München Phone: + 49 89 379 095 0 Fax: + 49 89 379 095 55 E-Mail: www.

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Original-Content von: AG, übermittelt durch news aktuell

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