Tbo Tek Ltd. · NSE:TBOTEK
Tbo Tek — Kotak – Chasing Growth 2025
38 slides from Tbo Tek's conference presentation, Feb 17, 2025
Slide 1: Investor Presentation filing cover letter
February 17, 2025 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, 5 th Floor, Plot No. C/1 Dalal Street, G Block, Bandra-Kurla Complex, Bandra (E) Mumbai - 400 001, Maharashtra, India Mumbai - 400 051, Maharashtra, India Scrip Code: 544174 Scrip Symbol
Slide 2: TBO.com: Travel Simplified – Investor Roadshow Presentation
TBO.com: Travel Simplified Investor Roadshow Presentation 1
Slide 3: Disclaimer
Disclaimer This presentation may contain statements which reflect Management’s current views and estimates and could be construed as forward-looking statements. The future involves risks and uncertainties that could cause actual results to differ materially from the current views being expressed. Th
Slide 4: TBO at a Glance
TBO at a Glance TBO is now among the top four global B2B travel distributors, with strong growth potential 1 Global Scaled presence Platform Europe 45k + +27,000 Annual Transacting No. Of Destination Buyers Cities North America APAC Africa ~ 9 million No. of room nights sold 54+ Countries with Comme
Slide 5: Where to play?
Where to play ? too.com 4
Slide 6: The Big opportunity
The Big opportunity The world is getting older and more prosperous Fertility 2.1 1.6 <1.5* Rates1 Between the years 2000-2005 Last Five Years (2018-2022) By 2050 66.8-68.5 72.46-73.16 >78.1* Lifespans2 Between the years 2000-2005 Last Five Years (2018-2022) By 2050 0.554 0.669 0.800* Income3 2005 La
Slide 7: The Big opportunity: Big Shift in Demographics
The Big opportunity Big Shift in Demographics The Developed World The Developing World Older and Very Prosperous Young, reaching higher income thresholds 6
Slide 8: The Big opportunity: Outbound Travel Megatrend
The Big opportunity Outbound Travel : New Megatrend 1 More and more people will travel outside of their countries 2 Assisted travel will be a very large opportunity 3 Longer trips with multiple services stitched together. For Older, affluent travelers: expertise, comfort, 4 convenience, and novelty.
Slide 9: TBO has chosen to play in Premium outbound travel space
TBO has chosen to play in Premium outbound travel space Global US $1.9 trillion Travel Market1 Global Outbound US $1.36 trillion Travel Market2 Global Outbound Travel Market – US $912 billion Premium Segment3 Source: 1. 1Lattice Travel & Tourism Industry Report (2023); 2. Management Estimate; 3. Man
Slide 10: Leveraging Premium outbound travel market
Leveraging Premium outbound travel market …. A prime opportunity for assisted travel providers / travel agents Premium outbound travel space Travel agents TBO Trip Budget Local / Regional OTAs Global OTAs Bed banks Budget domestic travel space Trip Duration (short/long haul) 9
Slide 11: Right to win
Right to win too.com 10
Slide 12: Online channel is crowded; whitespace in assisted travel
Online channel is crowded; Lot of whitespace in assisted travel Travel Tour Agencies Operators 1.5Mn+ Search Engines Hotel Players 8 to 10 different players Independent across OTA, Meta TMCs Travel Agents Hotel META OTA TBO is the only global scaled-up player website Search dominating this whitespac
Slide 13: Our platform simplifies travel
Our platform simplifies travel Suppliers Direct APIs or through Retail Selling Buyers Platform supply aggregators Retail Buyers Hotels Travel Agencies Airlines Independent Retail Selling Platform Travel Advisors Travelers Car Rentals Integration API for Enterprise Customers Transfers Payments Infras
Slide 14: We address key needs of suppliers & buyers
We address key needs of suppliers & buyers Discovery Trust Payments Service Real-time access Supplier Transact in 24x7, multi-lingual to global travel onboarding is respective local pre- and post- inventory of curated by TBO currencies booking support over 1 Million+ with strict SLAs hotels & 750+ P
Slide 15: TBO's global footprint
TBO’s global footprint Europe 33% 90% 8% 34% North America 27% APAC 9% 31% 67% 95% 13% 18% 10% 34% Latin America 5% ROW XX% YoY growth rate Regional share of Hotels & Ancillaries segment GTV in Q3 FY24-25. Regional share of Air segment GTV in Q3 FY24-25. GTV is calculated basis source market (i.e. l
Slide 16: Our platform is core to retail buyers and suppliers
Our platform is core to retail buyers and suppliers The buyer onboarding process has 3 key steps… Marketing Driven Sales Driven Platform Driven ~185K Registered buyers2 Account Lead generation Nurturing onboarding 70 New Buyers registered on an Inbound: Website registrations Seamless KYC1 with count
Slide 17: Interlinked flywheels enhance value proposition for our partners
Interlinked flywheels enhance value proposition for our partners More More Buyers Data e lu rs e r B va uy fo re Mo Wider More Richer options Network effects Learning effects Transactions insights for Buyers pl l u e rs v a ie r e p o M r Su fo Superior More platform Suppliers experience 16
Slide 18: More buyers buying more supply leading to more transactions
More buyers buying more supply leading to more transactions More Buyers More Suppliers Many more transactions #Yearly Transacting #Yearly Transacting # Bookings3 (Cr) Buyers (‘000)1 Suppliers (‘000)2 +25% +8% +20% 1.60 +10% 45 45 257 1.48 246 +24% 42 42 37 +55% 214 1.22 181 1.03 0.98 102 FY 22 FY 23
Slide 19: Business Performance - Enterprise
Business Performance - Enterprise Active Agent** Active Bookers** # +10% # +13% 36,958 47,221 33,702 41,673 23,493 24,321 22,815 23,555 13,465 18,118 22,900 10,887 Q3 FY’24 Q3 FY’25 Q3 FY’24 Q3 FY’25 GTV Revenue USD Mn USD Mn +26% +29% 848 50 672 39 11 384 12 367 39 464 26 305 Q3 FY’24 Q3 FY’25 Indi
Slide 20: High buyer stickiness and rising share of wallet
High buyer stickiness and rising share of wallet The cohort demonstrates the The cohort demonstrates that stickiness of the platform. the GTV per buyer continues to grow annually. The GTV per Of the 7,457 buyers that were buyer of the FY2017 cohort grew onboarded in FY2017, 2,431 by 6.63x from INR 8
Slide 21: Strong operating leverage
Strong operating leverage High buyer retention “Global” Network Effects Zero marginal cost and increased wallet leading to transaction of serving new share growth outpacing buyer transactions because of growth technology automation All incremental benefits go to bottom line leading to High Operating
Slide 22: Our dynamic founding team is backed by an experienced board
Our dynamic founding team is backed by an experienced board… Ravindra Dhariwal Ankush Nijhawan Gaurav Bhatnagar Akshat Verma Chairman and Independent Co-founder, Joint Managing Co-founder, Joint Managing Chief Technology Officer & Director Director Director Whole-time Director Prior : Pepsico Prior:
Slide 23: …and is supported by a deeply experienced team
…and is supported by a deeply experienced team Gerardo Del Rio Anil Berera Akshat Verma Nishant Misra Vikas Jain Martin Jones President – International President - Strategy Chief Technology Officer Chief Product Officer Chief Financial Officer Chief Supply Officer Prior: Hotelbeds, Dida Travel Prior
Slide 24: Our strategic vectors that contributed to rapid growth
Our strategic vectors that contributed to rapid growth A B Expand in new Grow buyer Bolster supplier New lines of business New product lines geographies segments network E.g., Paxes, Umrah E.g., Car Rental, Transfers Grow Platform Users Diversified lines of revenue across the globe Strategic Vectors
Slide 25: We have established a playbook for growth through GTM-led investments
We have established a playbook for growth through GTM-led investments GROW PLATFORM USERS ACROSS THE GLOBE Revenue/CTC plot across KAMs hired in last 2 years (2023-24) In FY’25, we extended our sales footprint basis this playbook We have x - mean Overall established a 13.5 15 playbook on 20.5 New Co
Slide 26: Expanding Revenue Streams: Sightseeing & Experiences, Umrah
Expanding Revenue Streams: Growth in Sightseeing & Experiences, Strong Umrah Opportunity DIVERSIFIED LINES OF REVENUE Umrah travel needs on one platform Top Easy Revamped website for enhanced user experience 48,000 + attractions Hotel Transfe available on platform s rs Best 24x7 Services Support One
Slide 27: Acquisition is a key growth lever for us to increase market share
Acquisition is a key growth lever for us to increase market share PURSUE VALUE ACCRETIVE ACQUISITONS Year | Country 2019 | India 2019 Consideration INR 19 Cr Island hopper Rationale Supply depth in Indian Ocean Islands ✓ Acquire companies with strong supply and distribution capabilities Year | Count
Slide 28: AI-led automation to improve CX and operational efficiency
On tech front, AI-led automation is in progress to improve CX and operational efficiency DEPLOYMENT OF AI AND HIGH-TECH INNOVATION FOR EFFICIENCY Emma Bot: Voice Agent AI-driven Ticket Classification AI Driven Automation AI Driven Classification Emma Bot connects internal operations team with AI pow
Slide 29: Moving fast on AI experiments to be at the leading edge of tech
Moving fast on AI experiments to be at the leading edge of tech DEPLOYMENT OF AI AND HIGH-TECH INNOVATION FOR EFFICIENCY • Neo, an AI Bot, helps in managing traveler Key Experiments bookings efficiently without support - Find booking made w/o login, ask for hotel confirmation number by typing, e.g.
Slide 30: H-Next Portal: Scale-up in progress across enterprise
H-Next Portal: Scale-up in progress across enterprise DEPLOYMENT OF AI AND HIGH-TECH INNOVATION FOR EFFICIENCY Built-in payment solutions International business: 35%+ Traffic moved to H-Next Analytics and Reports for Agents One-stop shop India business: Traffic for all Travel scaled-up to 10%; requi
Slide 31: H-Next Portal: Continuous enhancement of Content and UI/UX
H-Next Portal: Continuous enhancement of Content and UI/UX DEPLOYMENT OF AI AND HIGH-TECH INNOVATION FOR EFFICIENCY Dynamic markup on every search Improved map view on rooms listing page with ‘Points of interest’ from the hotel. Quote and compare up to 5 hotels at once 30
Slide 32: Our journey of over 18 years
Our journey of over 18 years Strong YoY GTV growth Driving growth through business diversification Investment in technology driving operating leverage Capital efficient business model with strong cash generation Delivering positive shareholder returns 31
Slide 33: Our Business Approach
Our Business Approach Transacting Gross Profit EBITDA GTV Revenue buyers1 Grow Buyer Increase buyer Focus on Focus on multiple Improve base in existing stickiness and product & products, e.g.- operating and new share of wallet geography mix hotels and leverage and geographies and improve ancillaries
Slide 34: Q3 & 9M 2024-25: Financial Highlights (INR)
Q3 & 9M 2024-25 : Financial Highlights Transacting Gross Adj. GTV Revenue buyers Profit EBITDA (Monthly) 28,657 INR 7,166 Cr. INR 422 Cr. INR 297 Cr. INR 75 Cr. 9% 26% 29% 34% 26% Q3 - Growth Q3 - Growth Q3- Growth Q3 - Growth Q3 - Growth Rate (YoY) Rate (YoY) Rate (YoY) Rate (YoY) Rate (YoY) 8% 21%
Slide 35: Q3 & 9M 2024-25: Financial Highlights (USD)
Q3 & 9M 2024-25 : Financial Highlights Transacting Gross Adj. GTV Revenue buyers Profit EBITDA (Monthly) 28,657 USD 848 Mn. USD 50 Mn. USD 35 Mn. USD 9 Mn. 9% 26% 29% 34% 26% Q3 - Growth Q3 - Growth Q3- Growth Q3 - Growth Q3 - Growth Rate (YoY) Rate (YoY) Rate (YoY) Rate (YoY) Rate (YoY) 8% 21% 26%
Slide 36: Historical Performance – Maximizing shareholder's value
Historical Performance – Maximizing shareholder’s value Net Worth (INR Cr) EPS & Book value per share (INR) Book Value per share Basic EPS 1,115 106 545 54 337 33 240 232 23 23 204 20 20 14 7 5 3 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Dec-24 -3 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Dec-24 35
Slide 37: Our Strengths
Our Strengths 1 Platform creating network effect 4 Data driven decision making across with interlinked flywheels to the enterprise enhance value proposition for partners 2 Modular and scalable proprietary 5 Founder led company supported by technology platform allowing experienced professional Our fi
Slide 38: Thank You!
Thank You! tbo.com 37