Karstadtquelle sees merged group sales of 23 bln eur in 2008/2009 UPDATE |
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Published
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Mon, 12 Feb 2007 12:19
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(updating with details on expected EBITDA margin of Thomas Cook)FRANKFURT (AFX) - KarstadtQuelle AG expects merged group sales to increase to 23 bln eur in 2008/09 from 21 bln eur in 2007, CEO Thomas Middelhoff said at a press conference.He added that Thomas Cook's contribution to group sales was expected to increase to 58 pct from 33 pct currently.Middelhoff, who is also chairman of Thomas Cook, said that Thomas Cook's goal is to achieve a higher-than-average EBITDA margin in the package tour operator branch.Package tour operators MyTravel Group PLC and KarstadtQuelle's Thomas Cook confirmed today that they are to merge.Following the deal, KarstadtQuelle will own 52 pct of the group and MyTravel the remainder.krysia.diver@afxnews.comkd/jsaCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Karstadtquelle sees merged group sales of 23 bln eur in 2008/2009 