Edreams Odigeo · BME:EDR
Edreams Odigeo — Q1 FY2020 Earnings Presentation
21 slides from Edreams Odigeo's earnings presentation, Aug 29, 2019
Slide 1: Results Presentation 1Q FY 2020
RESULTS PRESENTATION 1Q FY 2020 29th August 2019 “Revolutionize the online travel booking sector moving from transaction to subscription model through our unique subscription program Prime, which offers the ability to engage with the customer throughout the full travel journey” eDreams ODIGEO
Slide 2: Disclaimer
Disclaimer ▶ This presentation is to be read as an introduction to the unaudited condensed consolidated interim financial statements of the Group and contains key information presented in a concise manner on the Group and its financial condition. The information contained in this presentations is ex
Slide 3: Overview
Overview • Overview • 1Q Results FY20 • Outlook • Appendix
Slide 4: Solid results, 1Q as guided
RESULTS 1Q FY20 - OVERVIEW Overview Solid results, 1Q as guided Performance in line with guidance o Bookings 2.9 million in Q1 FY20, (-1% year-on-year), in line with strategic revenue model shift and guidance o Revenue up 5% to €141.5 million in 1Q FY20 o Adjusted EBITDA growth of 8% to €28.1 millio
Slide 5: Revenue diversification on track and the largest contributor to Revenues
RESULTS 1Q FY20 - KPIS Revenue diversification on track and the largest contributor to Revenues Revenue diversification ratio (**) +8pp Revenue evolution (**) 46% 38% 1Q FY19 1Q FY20 31% 5% 5% 15% 14% 38% 1Q FY18 1Q FY19 1Q FY20 46% Product diversification ratio +16pp 35% 76% 42% 60% 47% Diversifica
Slide 6: Continued strategic progress as evidenced by our KPIs
RESULTS 1Q FY20 - KPIS Continued strategic progress as evidenced by our KPIs Mobile bookings as share of flight bookings (**) +4pp Acquisition cost per booking index 36% 40% 32% 100 -19 percentage points 82 81 1Q FY18 1Q FY19 1Q FY20 Customer repeat booking rate (Annualised)(***) +3pp 48% 47% 50% 1Q
Slide 7: Results 1Q FY20
Results 1Q FY20 • Overview • Results 1Q FY20 • Outlook • Appendix
Slide 8: Income Statement Highlights 1Q FY20
RESULTS 1Q FY20 – P&L Income Statement Highlights 1Q FY20 ▪ Revenue Margin increased by 5%, principally due to an increase in 1Q FY20 1Q FY19 Var. Revenue Margin per booking of 7%. (In € million) ▪ Variable costs grew 4%, as a result of higher merchant costs due Revenue margin 141.5 134.6 5% to stro
Slide 9: Cash Flow Statement Highlights 1Q FY20
RESULTS 1Q FY20 – CASH FLOW Cash Flow Statement Highlights 1Q FY20 1Q FY20 1Q FY19 ▪ Net cash from operating activities increased by €35.1 million, (In € million) mainly reflecting: Adjusted EBITDA (*) 28.1 26.1 – In 1Q, the lower outflow in working capital is due to higher Non recurring items (8.7)
Slide 10: Debt
RESULTS 1Q FY20 – DEBT Debt Gross Leverage Ratio (*) (Total Gross Financial Debt / LTM Adjusted EBITDA ) ▪ Benefits from the refinancing coming through. Financial loss 7 decreased by 31% compared to the same period last year, a 6 reduction of €3.3 million in financial expenses, as a result of our x
Slide 11: Outlook
Outlook • Overview • Results 1Q FY20 • Outlook • Appendix
Slide 12: eDO to revolutionize the Online Travel Booking sector
OUTLOOK eDO to revolutionize the Online Travel Booking sector Moving from transaction to subscription model and engaging with the customer throughout the full travel journey FROM TO OUR GOAL Subscription model - Engaging with Leverage our leading market position Flight centric the customer throughou
Slide 13: FY 2020 Outlook: Outlook Unchanged
OUTLOOK FY 2020 Outlook Outlook FY 2020 “Outlook Unchanged” Bookings We expect FY20 to be a much better year than FY19, but it will still not reflect all our underlying potential as we have major markets UP 4% to 7% vs FY19 with less than 12 months with the new revenue model. In 1Q, reflecting the s
Slide 14: Why eDreams ODIGEO?
Why 2 eDreams ODIGEO? 2 1 1 2 1 1 1 Winner in Europe 30% European OTA 30% Significant revenue diversification flight market share World leading capabilities SOURCE: Internal analysis; Amadeus bookings data; Phocuswright European Travel Overview 2018
Slide 15: Appendix
Appendix • Overview • Results 1Q FY20 • Outlook • Appendix
Slide 16: Diversification Revenue continues with strong growth, 57% larger than Classic Customer Revenue
RESULTS 1Q FY20 – BY PRODUCT Diversification Revenue continue with strong growth and 57% larger than our Classic Customer Revenue Diversification +25% 1Q 1Q 1Q 72.2 FY15 FY19 FY20 CAGR Diversification 30.7 57.7 72.2 19% 57.7 Classic Customer 56.2 52.2 46.0 -4% CAGR Classic Supplier Advertising & Met
Slide 17: Revenue diversification drives growth in Rest of the World markets
RESULTS 1Q FY20 – BY GEOGRAPHY Revenue diversification drives growth in the Rest of the World markets, 24% CAGR over the past 5 years Rest of the World +25% 1Q 1Q 1Q 33.2 1Q 1Q FY15 FY19 FY20 CAGR 26.6 Top 6 95.8 108.0 108.3 2% CAGR +24% Rest of the world 11.5 26.6 33.2 24% Total 107.3 134.6 141.5 6
Slide 18: eDreams ODIGEO
eDreams ODIGEO
Slide 19: Glossary of Definitions
Glossary of Definitions Non-reconcilable to GAAP measures ▶ Acquisition Cost per Booking Index refers to the most relevant marketing expenses incurred to acquire new customers (encompassing Paid search, Metasearch and Affiliates), divided by the total number of Bookings. For any given period, the ra
Slide 20: Glossary of Definitions
Glossary of Definitions Other Defined Terms ▶ Advertising and Metasearch Revenue represents revenue from other ancillary sources, such as advertising on our websites and revenue from our metasearch activities. Our management believes that the presentation of the Advertising and Metasearch Revenue me
Slide 21: Glossary of Definitions
Glossary of Definitions Other defined terms ▶ Product Diversification Ratio (%) is a ratio expressed on a percentage basis and calculated by dividing the number of flight ancillary products and non-flight products linked to a Booking (such as insurance, additional check-in luggage, reserved seats, c