Kuoni Travel Holding Ltd. Half-year report 2005 - Kuoni Group

Consolidated income statement for the first half of 2005
CHF million 1.1.–30.6.05 1.1.–30.6.04 change in % 1.1.–31.12.04
Turnover 1 577 1 572 0.3 3 581
Direct costs –1 237.2 –1 218.8 –1.5 –2 762.1
Gross profit 339.7 353.7 –4.0 818.9
Personnel expense –192.8 –184.7 –4.4 –373.3
Marketing and advertising expense –52.4 –53.4 1.9 –99.9
Other operating expense –87.0 –87.1 0.1 –172.7
Depreciation –22.3 –22.9 2.6 –45.4
Earnings before interest, taxes
and amortisation of goodwill (EBITA) –14.8 5.6 –364.3 127.6
Amortisation of goodwill 0.0 –16.3 100.0 –32.5
Earnings before interest and
taxes (EBIT) –14.8 –10.7 –38.3 95.1
Financial result 12.7 6.7 89.6 10.9
Result before taxes –2.1 –4.0 47.5 106.0
Income taxes –5.1 –8.9 42.7 –31.9
Net result –7.2 –12.9 44.2 74.1
Of which:
Net result attributable to minority interests 0.2 0.0 100.0 0.3
Net result attributable to
Kuoni Travel Holding Ltd. shareholders –7.4 –12.9 42.6 73.8
Pre-goodwill earnings –7.2 3.4 –311.8 106.6
Basic earnings per registered share B in CHF –2.48 –4.37 24.88
Diluted earnings per registered share B in CHF –2.48 –4.37 24.86
Breakdown of Turnover by business area
CHF million 1.1.–30.6.05 1.1.–30.6.04 change in % 1.1.–31.12.04
Switzerland 339 371 –8.6 890
Scandinavia 300 259 15.8 595
Europe 252 251 0.4 597
United Kingdom & North America 354 390 –9.2 827
Incoming & Asia 357 326 9.5 730
Less revenues generated between segments –25 –25 0.0 –58
Total 1 577 1 572 0.3 3 581
Breakdown of EBITA by business area
% of % of % of
CHF million 1.1.–30.6.05 turnover 1.1.–30.6.04 turnover 1.1.–31.12.04 turnover
Switzerland –13.0 –3.8 –7.8 –2.1 34.2 3.8
Scandinavia –7.0 –2.3 –5.4 –2.1 16.4 2.8
Europe –3.9 –1.5 –3.3 –1.3 15.3 2.6
United Kingdom &
North America 18.6 5.3 27.6 7.1 63.1 7.6
Incoming & Asia 1.8 0.5 2.6 0.8 17.8 2.4
Corporate –11.3 n.a. –8.1 n.a. –19.2 n.a.
Total –14.8 – 0.9 5.6 0.4 127.6 3.6