Income statement 1.1 to 1.1 Change in % CHF million 30.9.06 to 30.9.05 Turnover 3 062 2 790 +9.8 Gross profit 649.6 613.6 +5.9 Gross profit margin (%) 21.2 22.0 Earnings before interest and 88.3 80.4 +9.8 taxes (EBIT) EBIT margin (%) 2.9 2.9 Net result 86.7 77.7 +11.6 Free cash flow 177.4 169.3 +4.8 - The tourist travel sector was faced by certain developments and events over which it had no control or influence such as bird flu, terrorist attacks in Turkey and heightened security in London. - Kuoni generated strong organic growth of 8.4% and, in line with its declared overall strategy, acquired six specialist tour operators and destination management companies which are active in growth regions and exclusive market segments. - Year-to-date turnover was increased 9.8% from the CHF 2 790 million of 2005 to CHF 3 062 million, while EBIT also rose 9.8% from the CHF 80.4 million of the prior-year period to CHF 88.3 million. - The balance sheet showed equity of CHF 604 million on September 30, 2006 (compared to CHF 582 million on December 31, 2005) and a very sound equity ratio of 32.3% (compared to 35.1% at the end of 2005). - Free cash flow was increased to CHF 177 million (2005: CHF 169 million). Outlook - For 2006 as a whole, Kuoni expects to report turnover of more than CHF 4 billion, an EBIT result that is largely in line with 2005 levels and a Group net profit of over CHF 100 million. For further information: ___________________________________ For analysts and investors: Laurence Bienz Head of Investor Relations Kuoni Travel Holding Ltd. Neue Hard 7 CH-8010 Zurich Phone +41 44 277 4529 Fax +41 44 277 4031 E-mail [email protected]