Slide 1: FY 2023 Results
“FY 2023 Results Ps ae —N.
Slide 2: The Speakers
FY 2023 RESULTS The Speakers Luca Concone Sergio Signoretti Chief Executive Officer Chief Financial Officer lastminute.com FY 23 Results | 2
Slide 3: Safe Harbour Statement
Safe Harbour Statement The material in this presentation has been prepared by lastminute.com N.V. and reports general background information about lastminute.com activities as at the date of this presentation. This information is given in summary form and does not purport to be complete. Information
Slide 4: Agenda
Agenda Intro and Highlights 01 L. Concone FY 2023 results 02 S. Signoretti Current Trading and Guidance 03 L. Concone 04 Q&A
Slide 5: Agenda
Agenda Intro and Highlights 01 L. Concone FY 2023 results 02 S. Signoretti Current Trading and Guidance 03 L. Concone 04 Q&A
Slide 6: Market Update: Flights in February 2024 closed at -9% of 2019 levels
Market Update Flights in February 2024 closed at -9% of 2019 levels Recovery curve continues with a slight decrease in 1Q 24, still below 2019 levels JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB 2019 2023 2024 European Commercial Flight Activity* - Delta Actual vs. 2019 level Source: elab
Slide 7: Operational & strategic highlights
Operational & strategic highlights Growth of the Improved Strengthening of Cancellations Dynamic Package representation of the Leadership impacts Business company Team neutralised performance + 41% vs 2022 in • EBITDA adjusted Improved DP • Chief Financial terms of revenues includes Pricing engine O
Slide 8: 2023 Sustainability Report
2023 Sustainability Report In 2022 we released our first Group voluntary sustainability report, fully integrated in the Annual report. In 2023 we created a stand alone document to align with the Swiss Regulation, with some dedicated highlights still embedded in the annual report. Top 2023 achievement
Slide 9: Full Year 2023 | Overview
Full Year 2023 | Overview NET FINANCIAL GTV REVENUES ADJ. EBITDA NET INCOME POSITION +5% vs. 2022 +6% vs. 2022 +28% vs. 2022 Back to profit +€15.6M vs. 2022 Overall GTV increase Dynamic Packages Adjusted EBITDA Transitioning from a Prior to the driven by Dynamic lead the growth also higher vs guidanc
Slide 10: Agenda
Agenda Intro and Highlights 01 L. Concone FY 2023 results 02 S. Signoretti Current Trading and Guidance 03 L. Concone 04 Q&A
Slide 11: New Adjusted EBITDA all in with Cancellations & Voucher misredemption effect included
New Adjusted EBITDA all in with Representation of our business Cancellations & Voucher through B2C/B2B views misredemption effect included Proven B2C platform coupled with strong B2B capabilities 2023 GTV (€m) 3,391 1 ● OTA main categories (DP, Flight only, Hotel only, TO) B2C ● CRUISE business Reven
Slide 12: Gross Profit growing more than Revenues
Gross Profit growing more than Revenues Dynamic Packages represent 46% of Group Revenues and growing +45% vs 2022 at Gross Profit level +6% +20% +11pp +9pp share share 2023 vs 2022 2023 vs 2022 (12%) +3% +41% +45% Dynamic Package Take Rate 11% 11% Dynamic Package Marginality 40% 41% % Rev * on GTV % o
Slide 13: Revenues growth led by B2B business
Revenues growth led by B2B business Focus on profitable growth driven by B2C and more efficient marketing spend +6% +20% 2023 vs 2022 2023 vs 2022 +18% +17% +0.1% +22% Take Rate Mktg Spend €m 129.5 126.5 8.1% 8.3% % Rev * on GTV % on Revenue 43% 39% REVENUES GROSS PROFIT €m €m lastminute.com FY 23 Resu
Slide 14: HR Fixed Costs growing due to increase in average headcount and cost per head
HR Fixed Costs growing due to increase in average headcount and cost per head Running Costs increasing vs LY mostly in IT spending +24% +14% 2023 vs 2022 2023 vs 2022 >100% +18% +19% +14% +25% 0% Headcount 990 1.069 Average Ytd % Net Cost on Rev 16% 18% % on Revenues 8% 9% HR FIXED COSTS RUNNING COS
Slide 15: Full Year 2023 | Ebitda Adjusted up to 39.7m€, +28% vs LY
Full Year 2023 | Ebitda Adjusted up to 39.7m€, +28% vs LY Ebitda Margin from 10% to 12% 2023 2022 % 23 vs. 22 Highlights FY 2023 GTV (€m) 3,391 3,216 +5% ● Revenue growth driven by DP higher volumes and margins. Revenues (€m) 321.3 301.8 +6% ● Gross Profit growth driven by DP (+45%), Thereof: B2B 125
Slide 16: Full Year 2023 | Back to Net Income
Full Year 2023 | Back to Net Income Net Results of 2023 is positive compared to 2022, impacted by the provision for the investigation in CH Highlights FY 2023 % 2023 2022 €m 23 vs. 22 Adjusted EBITDA 39.7 31.1 +28% ● IFRS EBITDA includes negative effect from the incentive plans valuation including ex
Slide 17: Full Year 2023 | 11m€ Gross Cash generation prior to Seco repayments
Full Year 2023 | 11m€ Gross Cash generation prior to Seco repayments €m €20.4m Business cash flow €11m Gross cash generated before SECO repayment lastminute.com FY 23 Results | 17
Slide 18: Full Year 2023 | Cash Flow
Full Year 2023 | Cash Flow The cash generation during the period is lower mainly due to €29.5M of reimbursement of Swiss subsidies 2023 2022 Highlights FY 2023 €m IFRS EBITDA 31.7 4.7 ● Business Working Capital: The negative effect in ‘23 is mainly linked to a higher receivables related to deferred C
Slide 19: Agenda
Agenda Intro and Highlights 01 L. Concone FY 2023 results 02 S. Signoretti Current Trading and Guidance 03 L. Concone 04 Q&A
Slide 20: Current trading in Q1 2024 | Despite RyanAir issues the Outlook is positive
Current trading in Q1 2024 | Despite RyanAir issues the Outlook is positive GTV REVENUES GROSS PROFIT ADJ. EBITDA -29% vs. Q1 -12% vs. Q1 +4% vs. Q1 2023 In line vs. Q1 2023 2023 2023 DP GTV stable vs Q1 Overall Revenue Increased profitability Stable profitability at 2023 decrease with DP at Gross Pro
Slide 21: Ryanair's Restriction on OTAs: Implications for lastminute.com
Ryanair's Restriction on OTAs: Implications for lastminute.com ● Ryanair's recent strategy: In late 2023, Ryanair imposed restrictions on Online Travel Agencies (OTAs), including lastminute.com, by denying them access to its ticket inventory. ● Impact on lastminute.com: This move by Ryanair has prev
Slide 22: Guidance FY 2024
Guidance FY 2024 Profitable growth expected for the full year Revenues for FY 2024 expected to grow approx. 5-10% vs. 2023 driven by Dynamic Packages growth Adj. EBITDA expected to grow minimum 20% vs. 2023 > 20% +5-10% Revenues Adj. EBITDA FY 2024 expectation lastminute.com FY 23 Results | 22
Slide 23: Reconfirmed strategy with focus on DP and Profitable growth
Reconfirmed strategy with focus on DP and Profitable growth Focus on profitable growth Successful shift towards Dynamic Packages STRATEGY Comprehensive set of measures PRIORITIES Consolidate Expand Enhance Focus on Improve overall leadership in ancillaries deferred mobile app as customer DP by fortifyi
Slide 24: Agenda
Agenda Intro and Highlights 01 L. Concone FY 2023 results 02 S. Signoretti Current Trading and Guidance 03 L. Concone 04 Q&A
Slide 25: Financial Calendar 2024
Financial Calendar 2024 8 February 2024 Announcement of preliminary unaudited FY2023 results 4 April 2024 Publication of the Annual Report 2023 15 May 2024 Publication of Q1 Trading Update 5 June 2024 Capital Markets Day 20 June 2024 Annual General Meeting 8 August 2024 Publication of H1 Report 13 N
Slide 26: lastminute.com
lastminute.com investor.relations@lastminute.com