Edreams Odigeo · BME:EDR
Edreams Odigeo — Non-Deal Roadshow (March 2022)
13 slides from Edreams Odigeo's roadshow presentation, Mar 16, 2022
Slide 1: Roadshow Presentation 3Q FY2022
ROADSHOW PRESENTATION 3Q FY2022 March 2022
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 presentation is extra
Slide 3: eDO achieves strong performance even with Omicron
eDO ACHIEVES STRONG PERFORMANCE EVEN WITH OMICRON 1 eDO STRONG BOOKINGS GROWTH & AHEAD OF PRE-COVID LEVELS ▪ In 3Q FY22, Bookings 26% above pre-COVID levels (in 9M FY22, Bookings already 7% above pre-COVID) ▪ Despite softening of trading due to Omicron variant, trading continued to be in line or abo
Slide 4: eDO strong bookings growth, despite Omicron and a not fully recovered market
eDO STRONG BOOKINGS GROWTH, DESPITE OMICRON AND A NOT FULLY RECOVERED MARKET 1 eDO BOOKINGS GROWTH VS 2019 Impacted by Omicrom variant STRONG DESIRE FOR CONSUMERS TO 44% TRAVEL 32% 31% 33% 30% 6% 2% PRIME PROGRAM DRIVING STRONG BOOKINGS GROWTH -2% -11% -26% STRONG eDO PERFORMANCE -51% April '21 May
Slide 5: eDO superior value proposition leading to outperforming the industry
eDO SUPERIOR VALUE PROPOSITION LEADING TO OUTPERFORMING THE INDUSTRY 1 Trading evolution vs. pre-COVID, % eDO +67pp vs. IATA +52pp vs. Low Cost 5
Slide 6: Pent-up demand - European consumers have saved almost 1 trillion euros during the pandemic
PENT-UP DEMAND - EUROPEAN CONSUMERS HAVE SAVED ALMOST 1 TRILLION EUROS DURING 1 THE PANDEMIC (*) In ordinary times, Europeans save around 12 percent of their income. But as families stayed at home and furlough schemes supported income during the pandemic, this savings rate increased sharply to almos
Slide 7: 3 in 5 Europeans plan to travel in the next six months despite Omicron
3 IN 5 EUROPEANS (*) PLAN TO TRAVEL IN THE NEXT SIX MONTHS DESPITE OMICRON 1 Likely/ very likely to travel* per main eDO country The European Travel Commission initiated a market research in September 2020 to monitor sentiment and Spain France short-term intentions for domestic and intra-European 76
Slide 8: eDO has a resilient business model: consistent revenue margin growth over time
1 eDO HAS A RESILIENT BUSINESS MODEL: CONSISTENT REVEUVE MARGIN GROWTH OVER TIME DESPITE EXTERNAL HEADWINDS Economic crisis China devaluates currency Air Berlin Rusia intervenes Syria bankruptc Arab Spring ISIS 4 Terrorist Attacks y Greece Malaysia Airlines Flight 370 Economic Disappears Crisis and
Slide 9: Prime continues to grow strongly even with Omicron. In February we reached 2.4 million members
PRIME CONTINUES TO GROW STRONGLY EVEN WITH OMICRON. IN FEBRUARY WE 1 REACHED 2.4 MILLION MEMBERS EVOLUTION OF PRIME MEMBERS AND ARPU eDO is inventor and leader of subscription in IN ● travel with over 4 years of investment FEBRUARY (*) ● In the 12 months to December 2021 our subscribers grew by 186%
Slide 10: New KPIs disclosed: strong growth in Prime cash revenue margin and marginal profit
NEW KPIS DISCLOSED: STRONG GROWTH IN PRIME CASH REVENUE MARGIN AND MARGINAL 1 PROFIT IN THE LAST 12 MONTHS DUE TO STRONG GROWTH IN PRIME MEMBERS AND ARPU ARPU LTM (€) (*) Cash Revenue Margin LTM (€M) (*) Cash Marginal Profit LTM (€M) (*) 329 88.5 89 133 +58% 40% +41% 47 53% 208 63 57.6 19 18% 37 196
Slide 11: eDO Cash EBITDA also accelerating due to strong growth in Prime members
eDO CASH EBITDA ALSO ACCELERATING DUE TO STRONG GROWTH IN PRIME MEMBERS 1 P&L WITH INCREASE IN PRIME DEFERRED REVENUE ● In FY21, the increase in deferred revenue driven by Prime amounted to €10.7 million euros, a 91% increase year-on-year. In FY22 this growth has accelerated driven by strong growth
Slide 12: Prime subscribers reaching >7.25M by end of FY25
PRIME SUBSCRIBERS 1 Reaching >7.25M Prime members by end of FY25 Prime members evolution Prime member build-up >7.25M >7.25 ~4x 2.0 ~10x 2.4 0.2 0.6 0.9 Existing Existing Converting Converting New New Geographical Geographical FY25 FY25 FY19 FY19 FY20 FY20 FY21 FY21 Current* Today FY25 FY25 members
Slide 13: eDO's large potential: superior returns for shareholders and customers
eDO´s LARGE POTENTIAL: SUPERIOR RETURNS FOR SHAREHOLDERS AND CUSTOMERS 1 WHILE TRANSFORMING THE INDUSTRY CREATE THE LARGEST Prime Members TRAVEL SUBSCRIPTION PROGRAM: PRIME >7.25M eDO Prime ARPU EXPAND OUR MARKET SHARE FY25 TARGETS ~€80 Cash EBITDA ACHIEVE SUPERIOR INDUSTRY MULTIPLES >€180M 13