lm holding: Travel demand’s recovery in Q2 resulted in strong cash generation and return to positive earnings in June

Amsterdam / Chiasso, 4 August 2021 – lm holding (or the “Company”), the European leader
in dynamic holiday packages, today releases its 2021 interim results. lm group closed the quarter and the semester significantly better than the previous year. The steep recovery experienced from May onward, generated both a strong increase in cash and positive economic results. June Net Result of € 4.0M is in line with 2019, despite lower volumes.

To better reflect the performance of the core business in the Group numbers and simplify the management reporting structure, the “Business EBITDA” has been abandoned and the “Adjusted EBITDA” modified accordingly. 2020 Figures have been restated too, in line with such a new reporting framework. In order to make the quarters and the semester comparable, 2020 has been further restated to embed the new accounting principles adopted from EOY 2020 on cancellations and vouchers treatment*. All figures presented in this report refer to lm holding (including Cruise business) and show reclassified Revenue that can slightly differ from IFRS Revenue due to the treatment of some extraordinary items. The reconciliation table is available in the Financial Statements published on lm group website.

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