HomeToGo SE · XETR:HTG
HomeToGo — Q2 2023 Earnings Presentation
37 slides from HomeToGo's earnings presentation, Aug 15, 2023
Slide 1: Q2/23 Earnings Call
Q2/23 Earnings Call Dr. Patrick Andrae, Co-founder & CEO Steffen Schneider, CFO 15 August 2023 1
Slide 2: First time positive Adjusted EBITDA in a second quarter and high Booking Revenues Backlog
First time positive Adjusted EBITDA in a second quarter and high Booking Revenues Backlog gives full confidence to reach FY/23 outlook ● First time positive Adjusted EBITDA in a second quarter with €1.4M - Adjusted EBITDA margin improved substantially by +20pp YoY Strong improvement in profitability
Slide 3: Business Update
Q2/23 Earnings Call - Business Update Dr. Patrick Andrae, Co-founder & CEO 15 August 2023 3
Slide 4: Continuing to add incredible homes with improving commercials
Continuing to add incredible homes with improving commercials Italy Baltic Sea Croatia Baltic Sea 4 Q2/23 Earnings Call
Slide 5: Softer demand for vacation rental searches improved throughout Q2 but still below 2022 level
Softer demand for vacation rental searches improved throughout Q2 but still below 2022 level Indexed Google searches from Germany for “Ferienhaus”1 Recent press coverage highlighting negative sentiment April May June July 1 index ranges between 0 and 100; 5 Q2/23 Earnings Call Source: Google Trends
Slide 6: Achieve Adjusted EBITDA break-even by FY2023
Key focus 2023: Achieve Adjusted EBITDA break-even by FY2023
Slide 7: Key factors driving first 2nd quarter Adjusted EBITDA break-even
Key factors driving first 2nd quarter Adjusted EBITDA break-even 1. Focus on marketing efficiency1 2. Driving repeat demand and retention Marketing and sales H1/23 86% 2 -26pp Repeat2024 H1/23 ~73% x Booking CAGR cost to 78% 75% Booking 60% Revenues Revenues x Q2/19 Q2/21 Q2/22 Q2/23 Q2/19 Q2/21 Q2/
Slide 8: Record high Subscriptions & Services business is one key lever in improvement in profitability
Record high Subscriptions & Services business is one key lever in our improvement in profitability H1/23 Increasing importance of profitable Subscription & Services solving pain points Subscriptions & Services business and fostering our partner’s growth Includes our SaaS Solution Smoobu Example: Smo
Slide 9: Strong gains on profitability enables us to prepare for future growth
Strong gains on profitability enables us to prepare for future growth H1/23 H2/23 2024 2028/29 goal Preparing for Lifting company EUR 1B Focus on profitability future growth to the next level Booking Revenues Reaching Adj. EBITDA Profitability on track, Focus for 2024 is to accelerate Future growth
Slide 10: Changing the way we search for travel, getting into vacation mode with HomeToGo Modes
Changing the way we search for travel, getting into vacation mode with HomeToGo Modes 10 Q2/23 Earnings Call
Slide 11: AI and HomeToGo are Driving the Future of Travel Planning
AI and HomeToGo are Driving the Future of Travel Planning 11 Q2/23 Earnings Call Based on an external survey of 504 U.S. travelers between the ages of 18-65. Research was conducted by HomeToGo in July 2023.
Slide 12: Introducing HomeToGo's first Mode: AI Mode
Introducing HomeToGo’s first _Mode AI Mode 🤖 AI Mode is a highly personalized generative AI-powered travel planner Now available in beta on the HomeToGo app (US + UK) For travelers: saving time and effort to book For partners: more highly qualified leads For HomeToGo: better conversion for…
Slide 13: Our vision: making incredible homes easily accessible to everyone
OUR VISION making incredible homes easily accessible to everyone I Trulli di Carole (Ostuni, Apulia)
Slide 14: Financial Performance Update
Q2/23 Earnings Call - Financial Performance Update Steffen Schneider, CFO 15 August 2023 14
Slide 15: Strong increase in IFRS Revenues alongside first second quarter Adjusted EBITDA break-even
Strong increase in IFRS Revenues alongside first second quarter Adjusted EBITDA break-even Booking Revenues (EUR million) Onsite Booking Revenues (EUR million) 65 50 46 43 43 42 32 32 24 32 27 28 22 26 25 21 21 20 21 16 15 19 13 19 14 11 8 7 8 8 8 6 3 5 4 4 ‘19 ‘20 ‘21 ‘22 ‘23 ‘19 ‘20 ‘21 ‘22 ‘23 ‘1
Slide 16: Strong growth in Subscriptions & Services and CPA Onsite contributed to more than doubling IFRS Revenues
Strong growth in Subscriptions & Services and CPA Onsite contributed to more than doubling HomeToGo’s IFRS Revenues over two years Booking Revenues1 (EUR million) - by deal type IFRS Revenues (EUR million) - by deal type 115.5 64.7 +29% 19.5 Subscriptions & Services +14% +56% 14.9 89.3 13.5 56.5 8.1
Slide 17: Booking Revenues Backlog provides high visibility into H2/23 IFRS Revenues
Booking Revenues Backlog provides high visibility into H2/23 IFRS Revenues Booking Revenues1 Backlog (EUR million) Booking Revenues1 Backlog (EUR million) 67.4 59.2 41.4 Q2/21 Q2/22 Q2/23 Check-in date in Q3 Check-in date in Q4 1 Non-GAAP operating metric to measure performance that is defined as th
Slide 18: Marginal decrease in Onsite share can be mainly attributed to strong North American business
Marginal decrease in Onsite share can be mainly attributed to strong North American business share compared to last year H Reve 1/23 Book nu in DAC es On g sit Rest H: 83% (+ e Share 1 of Eu 6pp rope Y Onsite Booking Revenues Onsite Share %1 : 46% oY) 56% 55% (+5p p) €60M 41% €40M 31% 52.6 27% 45.2
Slide 19: Q2/23 was steered towards profitability and integration of new inventory
Q2/23 was steered towards profitability and integration of new inventory Q2/2 3 1 Onsit Booking Onsite Bookings (‘000 bookings) Onsite Share (% of Booking Revenues) e Sh are Reve nu (+2p DACH 1: es p Yo 81% Y) 233 57% 195 53% 50% 167 24% 35% 52 68 Q2/19 Q2/20 Q2/21 Q2/22 Q2/23 Q2/19 Q2/20 Q2/21 Q2/2
Slide 20: Continuous improvements of our CPA Take Rate - record-high of 11%
Continuous improvements of our CPA Take Rate - record-high of 11% Take Rate % June CPA Take Rate of 12.3% Increasing CPA Take Rate in % of GBV 15% p 11.0% 10% 4p 10.0% 8.8% 5% 6.9% Q2/19 Q2/21 Q2/22 Q2/23 Jan/20 Jul/20 Jan/21 Jul/21 Jan/22 Jul/22 Jan/23 Jul/23 20 Q2/23 Earnings Call
Slide 21: Significant progress in profitability driven by higher Sales & Marketing efficiency
Significant progress in profitability driven by higher Sales & Marketing efficiency Costs and margins1,2 Q2 H1 (in % of IFRS Revenues) 2022 2023 Delta 2022 2023 Delta Cost of Revenues (4.2)% (2.3)% 1.9pp (10.0)% (7.9)% 2.0pp Gross profit 89.5% 96.0% 6.5pp 90.0% 92.1% 2.0pp Sales & Marketing (85.1)%
Slide 22: Generating cash already in Q2/23 further strengthens cash position
Generating cash already in Q2/23 further strengthens cash position while major cash inflows are still to be received in Q3/23 EUR million 9 (1) 145 (3) (50) 50 140 95 90 Cash & cash Money Q1/23 Operating CF2 Investing CF3 Other Q2/23 Money Cash & cash equivalents market liquidity1 changes4 liquidity
Slide 23: Resilient booking behaviour provides full confidence for our 2023 guidance
Resilient booking behaviour despite challenging macroeconomic circumstances provides full confidence for our 2023 guidance Monthly Booking Revenues Highes te Bookin ver second qu g Reve nues B arter of €67M acklog 1 2023 2022 2021 2020 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 23 Q2/23 Earning
Slide 24: We confirm our Adjusted EBITDA break-even objective in FY/2023
We confirm our Adjusted EBITDA break-even objective in FY/2023 while maintaining a double-digit IFRS Revenues growth rate FY2023 Guidance Booking Revenues1 Onsite Booking Revenues Share1,2 +13% – +25% +2pp - +7pp EUR 185–205M 56%–61% H1/23 Adj. EBITDA (23)M IFRS Revenues Adjusted EBITDA3 +13% – +19%
Slide 25: HomeToGo Q2/23 summary
HomeToGo Q2/23 summary First second quarter Adj. EBITDA break-even lays foundations for accelerated growth in 2024 Sa ve da the te! HomeToGo Capital Markets Day Ongoing growth momentum in Subscriptions & Services; Record Q2 Booking Revenues Backlog Dec 12, 2023 Fully on track to achieve Adjusted EBI
Slide 26: Q&A
Q&A home to go-
Slide 27: Appendix
Appendix home to go-
Slide 28: Reconciliation of Gross Booking Value (GBV) to IFRS Revenues
Reconciliation of Gross Booking Value (GBV) to IFRS Revenues KPI (in EUR million) Q2 H1 2022 2023 Delta 2022 2023 Delta GBV 464 439 (6)% 924 1,044 12% t/o GBV from CPA 315 299 (5)% 657 766 14% x CPA Take Rate (in %) 10.0% 11.0% 1.1pp 9.6% 10.8% 1.2pp Booking Revenues from CPA 31 33 5% 63 83 23% + Bo
Slide 29: The HomeToGo Share
The HomeToGo Share Shareholder Structure1 Share Information Ticker symbol HTG Treasury Shares: 6.1% Insight: 17.9% Type of Shares Class A Shares (Public Shares) Others: 32.0% and Class B Shares (Founder Shares) Klaus Hommels2: 14.7% Stock Exchange Frankfurt Stock Exchange Market Segment Regulated Ma
Slide 30: Statements of Profit or Loss and adjusted EBITDA reconciliation
Statements of Profit or Loss and adjusted EBITDA reconciliation in € thousand Q2/2023 Q2/2022 H1/2023 H1/2022 Revenues 42,786 37,638 64,669 56,502 Cost of revenues (1,720) (3,952) (5,124) (5,631) Gross profit 41,067 33,686 59,545 50,871 Product development and operations (7,857) (6,883) (16,173) (13
Slide 31: Statements of Financial Position
Statements of Financial Position Assets in € thousand June 30, 2023 Dec 31, 2022 Intangible assets 135,350 138,404 Property, plant and equipment 14,236 15,023 Income tax receivables (non-current) 54 95 Other financial assets (non-current) 5,645 5,504 Other assets (non-current) 122 143 Total non-curr
Slide 32: Statements of Cash Flows
Statements of Cash Flows in € thousand H1/2023 H1/2022 Profit (loss) before tax (41,038) (40,604) Adjustments for: Depreciation and amortization 6,786 5,475 Non-cash employee benefits expense - share-based payments 9,432 12,860 VSOP - Exercise tax settlement charge (384) (321) VSOP - Cash paid to be
Slide 33: Upcoming events in 2023 - Join us!
Upcoming events in 2023 - Join us! Date Event Sep 4/5 Equity Forum Fall Conference, Frankfurt Sep 5/6 dbAccess European TMT Conference 2023, London Sep 14 Warburg Small Cap Selection Conference, London Sep 14 Non-deal Roadshow Hamburg Sep 18 Berenberg and Goldman Sachs German Corporate Conference, M
Slide 34: HomeToGo Investor Relations Contact
HomeToGo Investor Relations Contact Sebastian Carsten Grabert, CFA Fricke Director IR & Corporate Finance Senior Investor Relations Manager sebastian.grabert@hometogo.com carsten.fricke@hometogo.com Team Office Contact Location T: +49 157 501 63731 HomeToGo GmbH HomeToGo SE | 9, rue de Bitbourg, Pap
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Slide 36: Glossary
Glossary Core KPIs Further financial KPIs (Non-GAAP) Booking Revenues Booking Revenues is a non-GAAP operating metric to measure performance that is Gross Booking Value (GBV) GBV is the gross EUR value of bookings on our platform in a reporting period (including all defined as the net Euro value of
Slide 37: Disclaimer
Disclaimer Forward-Looking Statements This Presentation contains certain forward-looking statements, including statements regarding HomeToGo’s future business and financial performance. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate