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Beskrivning
| Land | Danmark |
|---|---|
| Lista | Spotlight DK |
| Sektor | Tjänster |
| Industri | IT-konsult & onlinetjänster |
Nustay A/S ("Nustay") hereby publishes its Half-Year Report for the period January - June 2020. The report is available as an attached document to this press release and on the company's website (investor.nustay.com). Below is a summary of the report.
CEO Mathias Lundoe Nielsen comments:
"The first half of 2020 has without a doubt been one of the toughest and most challenging periods for Nustay yet. With prolonged lockdown and travel bans, the travel industry has been one of the industries most affected by the COVID-crisis. Despite this, we have been able to further expand our product offering and streamline our organization to fully prepare us for when the world is back to normal again."
Q2 (2020-04-01 - 2020-06-30)- Total sales (handled revenue) amounted to DKK 3.2m (35.1m) (Non IFRS - measure)
- Total commission (net revenue) amounted to DKK 0.3m (2.0m)
- Result after financial items amounted to DKK -6.9m (-9.3m)
- Net income amounted to DKK -10.0m (-7.2m)
- Net income per share* amounted to DKK -0,21 (-0,40).
- Cash flow from operating activities amounted to DKK 6.6m (-5.9m)***
- The handled revenue amounted to DKK 49.2m (60.2m). (Non-IFRS - measure)
- The net revenue amounted to DKK 4.1m (3.6m).
- Result after financial items amounted to DKK -21.1m (-17.4m).
- Net income amounted to DKK -21.1m (-13.5m).
- Net income per share amounted to -0.61 (-0.94) DKK.
- Cash flow from operating activities amounted to DKK -9.7m (-13.0m) ***.
- Equity ratio** amounted to 10.0% (53.8 %).
- Cash and cash equivalents amounted to DKK 0.5m (2.5m).
Numbers in parenthesis are the numbers from the same period in 2019.
For more detailed comments to Q2 financials please ref. to page 5
* The group's net income per share: the net income for the period divided by 48 588 440, the average number of shares for the period. The total number of shares in Nustay A/S was 48 588 440 shares per 2020-06-30.
** Equity ratio: Shareholder's equity divided by total capital.
*** Loans from shareholders and management have in the cash flow statement been re-classified from operating activities to financing activities. The numbers for comparable periods have been updated accordingly.
Significant events during the second quarter of 2020On April 6, Nustay announced that the rights issue has been registered at the Danish Business Authority.
On April 8, the Company postponed the Annual General Meeting due to COVID-19 from April 30 to May 29, 2020.
On May 17, Nustay postponed the Annual General Meeting due to COVID-19 from May 29 to August 28, 2020.
On July 15, Nustay issued a market update detailing the Company's actions and developments since the onset of the COVID-19 crisis. The update sets out that during this period Nustay paused all marketing activities and has focused entirely on developing and improving its website, booking platform, marketing partnerships and hotel portfolio.
On July 20, the Company announced a new distribution agreement with Destination Italia. Destination Italia is a leading Destination Management Company for the Italian travel market, offering direct access to 8,000 hotels in Italy and over 100,000 hotels worldwide.
On July 28, Nustay announced a new distribution agreement with the Japanese company Rakuten Travel Xchange Pte. Ltd., a leading online hotel and vacation rental accommodation supplier which offers an extensive inventory of over 500,000 hotels and 200,000 rental properties across 200 countries.
On August 3, Nustay announced that it has secured a loan from Vækstfonden totalling DKK 3.0 million. The `Business Angel' loan matches an investment of Vækstfonden approved Business Angels and has been designed to assist growth companies which have been particularly impacted by the COVID-19 crisis.
On August 3, Nustay announced that it has secured a further loan from Vækstfonden. The `syndicated loan' is on DKK 6.8 million, which together with the previously announced loan totals DKK 9.8 million (DKK 6.8 million syndicated loan and DKK 3.0 million business angel loan respectively).
On August 4, Nustay announced that it will - with immediate effect - be fully restarting its global marketing activities. The Company will be moving to the next stage of its COVID-19 recovery strategy, which will see the reactivation of marketing activities across the world as the hotel booking market is starting to pick up again. The marketing strategy will focus on an CPA model, a wider metasearch (price comparison websites) presence, and an optimised hotel supplier base.
On August 10, Nustay announced that it has received a DKK 1.4 million grant from the Danish government to cover fixed costs between March 9 and July 8, as part of the government's COVID-19 help packages.
On August 14, Nustay's Board of Directors convened the Annual General Meeting, which will be held Monday August 31, 2020 at 11:00 (CEST) at Gorrissen Federspiel Advokatpartnerselskab, Axeltorv 2, DK-1609 Copenhagen V, Denmark.
On August 14, Nustay's Annual Report for 2019 was published. The report is available on the Company's website (investor.nustay.com (http://www.investor.nustay.com)).
This information is information that Nustay A/S is obliged to publish following the EU Market Abuse Regulation. The information was provided by the contact person above for publication on August 26, 2020.
For further information about Nustay, please contact:
Investor Relations, Nustay A/S
E-mail: investor@nustay.com
Website: www.nustay.com
About Nustay
Nustay is a Danish online hotel booking company established in 2014. The company has developed an innovative booking platform offering the lowest possible hotel prices while also enhancing customer's booking experience. Nustay has set out an ambitious vision to become the global leader within the online hotel booking industry, and is confident its large hotel room inventory, novel pricing strategy, and transparent booking process, will achieve that goal.