Brief: SosTravel Revises 2019 Estimates Downwards

Sostravel.Com SpA

28/11/2019 07:46

Nov 28 (Reuters) - SosTravel.com SpA  SOTR.MI :
    * SAID ON WEDNESDAY THAT REVISED 2019 ESTIMATES
    * EXPECTS 2019 VALUE OF PRODUCTION OF EUR 3.0 MLN COMPARED
TO EUR
4.5 MLN IN IPO ADMISSION DOCUMENT 2018
    * EXPECTS 2019 EBITDA OF EUR 0.3 MLN COMPARED TO EUR 1.2 MLN
IN
IPO ADMISSION DOCUMENT 2018
    * SEES EBIT LOSS OF EUR 0.7 MLN COMPARED TO POSITIVE EBIT OF
0.8
MLN IN IPO ADMISSION DOCUMENT 2018
    * VARIANCE ON ECONOMIC DATA OF PLAN IS DUE TO DELAY IN
ONLINE AND
B2B SALES OF FIRST VERSION OF APP AND POSTPOMENT OF SALE OF
LOST&LUGGAGE CONCIERGE SERVICE ON RUSSIAN MARKET
    * REDUCTION IN MARGINS ON EBITDA 2019 IS RELATED TO HIGHER
STRUCTURAL COSTS TO SUPPORT FUTURE DEVELOPMENTS
    * EBIT 2019 IS ALSO AFFECTED BY AMORTIZATION/DEPRECIATION
LARGELY
RELATED TO IPO AND PROVISIONS OF ABOUT EUR 1 MLN
    * DECIDED TO POSTPONE INVESTMENTS IN MARKETING COMUNICATION
TO
2020 - CEO

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nBIA4Jxd6z
    
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