Revised forecast for 2021 financial performance
14 May 2021
Travelex Issuerco 2 Plc
Revised Forecast for 2021 Financial Performance
Travelex Issuerco 2 Plc
14 May 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014 (“MAR”). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN
Travelex Issuerco 2 Plc (“Travelex” or the “Company”)
14 May 2021
Revised Forecast for 2021 Financial Performance
The Company announces that it expects the Travelex group’s EBITDA for the financial year to 31 December 2021 to be in the range of £15 - £25 million below the financial forecast announced on 8th February 2021.
The shortfall predominantly relates to the slower than expected easing of travel restrictions particularly in Asia and ANZ regions where conservative government policies and closed borders are driving a six-month delay in recovery. UK and European markets are expected to recover first but still with a delay of up to three months against previous expectations.
The Company is taking all necessary measures to improve the Travelex group’s performance for the financial year 2021.
This announcement is made with reference to information currently available.
The Company will release its Q1 results on 17th May 2021.
Enquiries:
Travelex
For investor related queries:
Victoria.Benis-Lonsdale@travelex.com
For other enquiries:
–END–