Kuoni raises turnover and net profit in 2008

Kuoni posts an encouraging set of results for the 2008 business year.
Turnover increased 3.3% to CHF 4855 million, while earnings before
interest and taxes (EBIT) were raised 8.6% to CHF 151.5 million.
Strategic Business Units Scandinavia, Asia & Destination Management
and Switzerland made particularly sizeable contributions to the
overall EBIT result. The net result for the year rose 12.1% to a
record CHF 152.1 million. Kuoni also continued its growth strategy in
2008, making seven acquisitions - largely in the premium & specialist
and destination management segments - that will add CHF 308 million
to the annualised turnover.

Income statement

+-------------------------------------------------------------------+
| | | 2007 | Change |
| CHF MILLION | 2008 | restated | in % |
|-------------------------------------+---------+----------+--------|
| Turnover | 4 855.0 | 4 698.6 | 3.3 |
|-------------------------------------+---------+----------+--------|
| Gross profit | 1 056.3 | 1 041.5 | 1.4 |
|-------------------------------------+---------+----------+--------|
| Gross profit margin (%) | 21.8 | 22.2 | |
|-------------------------------------+---------+----------+--------|
| Earnings before interest and taxes | 151.5 | 139.5 | 8.6 |
| (EBIT) | | | |
|-------------------------------------+---------+----------+--------|
| EBIT margin (%) | 3.1 | 3.0 | |
|-------------------------------------+---------+----------+--------|
| Net result | 152.1 | 135.7 | 12.1 |
|-------------------------------------+---------+----------+--------|
| Free cash flow | 55.5 | 208.4 | -73.4 |
|-------------------------------------+---------+----------+--------|
| ROIC (%) | 18.9 | 17.0 | |
|-------------------------------------+---------+----------+--------|
| Kuoni Economic Profit (KEP) | 72.9 | 60.4 | 20.7 |
+-------------------------------------------------------------------+

FACTS AND FIGURES FOR 2008
Turnover for the Kuoni Group totalled chf 4855 million, a 3.3%
increase on the previous year. Organic growth amounted to 4.4% and
acquisitions added 5.9%, while currency movements reduced turnover by
7.0%.

Earnings before interest and taxes (EBIT) increased 8.6% to CHF 151.5
million (2007: CHF 139.5 million).

The net result for the year amounted to CHF 152.1 million, a 12.1%
improvement on 2007 (CHF 135.7 million) and the highest the Kuoni
Group has ever achieved. Earnings per registered share B rose 14.5%
to CHF 53.06 (2007: CHF 46.36).

Cash flow from operating activities stood at CHF 108.7 million in
2008 (2007: CHF 256.9 million). Free cash flow amounted to
CHF 55.5 million (2007: CHF 208.4 million).

Kuoni Economic Profit (KEP) amounted to CHF 72.9 million, an
improvement of 20.7%. Return on invested capital (ROIC) increased
from 17.0% to 18.9%.

The Board of Directors recommends to the Annual General Meeting of
Shareholders of 21 April 2009 that a dividend be distributed of CHF
10.00 per registered share B.

The balance sheet showed equity of CHF 612 million at 31 December
2008 (2007: CHF 607 million). The equity ratio rose to 35.4% (2007:
31.3%).

Kuoni continued to pursue its growth strategy in 2008. Seven
acquisitions were made in the course of the year, which will add CHF
308 million to the Group's annualised turnover.

The realignment that Kuoni has embarked upon to make itself a global
travel brand is one of the most extensive transformations the company
has ever undertaken. 2008 saw the creation of new product lines and
service offers, as well as new corporate values and a revised
corporate identity.

For full documents please see attached links.

For further information:
_________________________________________

Laurence Bienz
Head Investor Relations
Kuoni Travel Holding Ltd.
T +41 44 277 4529
laurence.bienz@kuoni.com

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