1 PRELIMINARY RESULTS 2001. 2  Results Overview  Financial Review  2001 Trading Review  Impact of September 11th  2002 Trading  Group Strategy and.

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Presentation transcript:

1 PRELIMINARY RESULTS 2001

2  Results Overview  Financial Review  2001 Trading Review  Impact of September 11th  2002 Trading  Group Strategy and Prospects Holidaybreak plc PRELIMINARY RESULTS 2001 PRELIMINARY RESULTS

3  Five years of growth in profits, EPS and dividend  Profit before tax - £23.8m* (+15%)  EPS p* (+12%)  Dividend p (+12.5%)  Profit impact of September 11th -£160,000 reduction Holidaybreak plc PRELIMINARY RESULTS 2001 (1) CHAIRMAN’S STATEMENT *EPS and profit figures before goodwill amortisation and exceptional costs

4  Outstanding year for Hotel Breaks  Another very solid performance from Camping  Good progress by Adventure - first full year for Explore Worldwide and Regal  Resilient businesses  Further profitable progress in 2002 anticipated Holidaybreak plc PRELIMINARY RESULTS 2001 (2) CHAIRMAN’S STATEMENT

5 Holidaybreak plc 2001 PROFIT & LOSS ACCOUNT (1) All stated before exceptional operating costs and goodwill amortisation PRELIMINARY RESULTS

6 Holidaybreak plc 2001 PROFIT & LOSS ACCOUNT (2) All stated before exceptional operating costs and goodwill amortisation PRELIMINARY RESULTS

7 Holidaybreak plc 2001 BALANCE SHEET PRELIMINARY RESULTS

8 Holidaybreak plc 2001 CAPITAL EXPENDITURE & DISPOSALS (1) PRELIMINARY RESULTS

9  Total capex 9% down on 2000  Net spend on mobile-homes £8.9m (57% of total)  Mobiles continue to achieve book value on disposal  Non-camping division expenditure of £0.5m Holidaybreak plc 2001 CAPITAL EXPENDITURE & DISPOSALS (2) PRELIMINARY RESULTS

10 Holidaybreak plc 2001 CASH FLOW (1) PRELIMINARY RESULTS

11  Strong operational cash flow  Capex largely financed through new HP  Capex requirement 2002 & beyond  Interest cover 8.6 times (2000: 7.7)  Currency and interest hedges in place  Headroom in bank facilities Holidaybreak plc 2001 CASH FLOW (2) PRELIMINARY RESULTS

12 Holidaybreak plc TURNOVER *12 months pro-forma £m FIVE YEAR RECORD

13 Holidaybreak plc PROFIT BEFORE TAX *12 months pro-forma £m FIVE YEAR RECORD

14 Holidaybreak plc EARNINGS PER SHARE *12 months pro-forma 46,406,369 shares currently in issue Pence FIVE YEAR RECORD

15 Holidaybreak plc DIVIDEND ,406,369 shares currently in issue Pence FIVE YEAR RECORD

16  Market conditions more favourable - especially UK high season  Operating profits up 5%  Margin improvements mainly due to continuing trend to mobile-homes - also UK market strength  Successful UK marketing campaign Holidaybreak plc 2001 TRADING - CAMPING CAMPING

17  Another excellent year - profits and turnover up 25%, despite potential disruption from floods, rail crisis, foot and mouth etc  Internet the star performer - on-line bookings c.15% of total  Direct also growing well  Rainbow acquisition beneficial - c.65% share of travel agency sales  Profit impact of September 11th c.£30,000 Holidaybreak plc 2001 TRADING - HOTEL BREAKS HOTEL BREAKS

18  Sales up 12% - no like for like profit comparisons  Pre-September 11th gross margins as normal - some overhead increases, largely anticipated at time of acquisition  Operational disruption greater than normal even pre- September 11th - Nepal and Sri Lanka etc  Profit impact of September 11th c.£130,000 Holidaybreak plc 2001 TRADING - ADVENTURE ADVENTURE

19  Immediate slow down in bookings activity everywhere  2001 “lates” hit hard  All sectors have recovered but some much more slowly than others  Booking lead times shorter Holidaybreak plc SEPTEMBER 11th - IMPACT ON UK HOLIDAY SECTOR (1) HOLIDAY SECTOR

20  Ski, city breaks, coaching doing well  Footfall in travel agents still well down - directs and internet holding up better  Cumulative figures may in some cases mask much weaker trading since September 11th Holidaybreak plc SEPTEMBER 11th - IMPACT ON UK HOLIDAY SECTOR (2) HOLIDAY SECTOR

21  Summer 2002 AIT market will be down (c.5%?)  Capacity reductions by majors  Long-haul the most affected  Market will book later but will book Holidaybreak plc SEPTEMBER 11th - OUTLOOK FOR UK HOLIDAY SECTOR (1) HOLIDAY SECTOR

22  Domestic and self-drive should be well placed  Another tough year for inbound  Consumers will take holidays but booking patterns and lead times will be different to normal Holidaybreak plc SEPTEMBER 11th - OUTLOOK FOR UK HOLIDAY SECTOR(2) HOLIDAY SECTOR

23  No effect on 2001  Slowdown in bookings during September  Strong recovery since then - 4% up over past six weeks  Self-drive holidays to Europe should be well placed - booking lead times may reduce Holidaybreak plc SEPTEMBER 11th - IMPACT ON CAMPING CAMPING

24  Bookings level with last year - nearly 50% of estimated final total now in  Mobile-homes continuing to increase in popularity  High-low season balance similar to previous years  Directs stronger than travel agents  Dutch market has been slow but now showing signs of recovery  Another good year expected Holidaybreak plc 2002 TRADING - CAMPING CAMPING

25  Initial dip in bookings but soon recovered - London took a little longer and airport hotels still below par  Estimated 2001 profit reduction of £30,000  Overseas visitors well down - strong promotion to the domestic market  Inbound only a tiny proportion of sales  Positive outlook for domestic markets Holidaybreak plc SEPTEMBER 11th - IMPACT ON HOTEL BREAKS HOTEL BREAKS

26  Strong year on year sales growth now coming through  Internet particularly buoyant  Very good support from high street agents  Launch of European ‘accommodation only’ programme - initial signs very encouraging  Market conditions continue to be favourable - a third year of growth in prospect Holidaybreak plc 2002 TRADING - HOTEL BREAKS HOTEL BREAKS

27  Pre-September 11th 2002 trading had been strong  Estimated impact on 2001 : loss of £300,000 in turnover and £130,000 profits  Operational disruption - flight disruption, tour cancellations etc  Volumes down due to new bookings falloff, cancellations and tour consolidations Holidaybreak plc SEPTEMBER 11th - IMPACT ON ADVENTURE (1) ADVENTURE

28  Holidays postponed by some customers  Load factors affected  No commitments to airline seats or ground costs  Regal charter load factors have held up and commitments being reduced  Situations now much closer to normality Holidaybreak plc SEPTEMBER 11th - IMPACT ON ADVENTURE (2) ADVENTURE

29  New bookings now coming through strongly  Credits will turn into bookings  Islamic countries c.25% of Explore business in a ‘normal’ year - tours still running to most of these countries  Europe will book strongly for Africa and South America also expected to be popular Holidaybreak plc 2002 TRADING - ADVENTURE (1) ADVENTURE

30  Regal’s core diving market will be resilient  Lots of positives - new website and brochure, strong pre-September 11th trends  Business will trade profitably but October- March period has suffered a significant set back Holidaybreak plc 2002 TRADING - ADVENTURE (2) ADVENTURE

31  Clearly there is uncertainty but 84% of turnover and 87% of operating profit derived from businesses not directly affected by September 11th  Adventure has excellent longer term prospects and will remain profitable in the current year  We continue to pursue new initiatives and to seek suitable acquisitions  We have resilient businesses and expect to make further profitable progress in 2002 and to once again increase shareholder value Holidaybreak plc GROUP PROSPECTS AND STRATEGY STRATEGY