Slide 1: Preliminary Trading Update H1 2014
PRELIMINARY TRADING UPDATE H1 2014 July 28th, 2014
Slide 2: Strong Gross Travel Value growth mainly driven by expansion into new markets
Strong Gross Travel Value growth mainly driven by expansion into new markets Gross Travel Value ACQUISITIONS ≈1,300€ MM 1,051€ MM 576€ MM 286€ MM 2004 2005/10 2011 2012 2013 2014 Forecast for 2014: growth is fully organic due to the different business model of Jetcost 2013 vs 2012: significant contrib
Slide 3: Preliminary Update H1 2014
Preliminary Update H1 2014 Gross Travel Value Number of bookings Preliminary Revenues € MM In ‘000s € MM 643 1,746 71 525 1,501 60 v v v H1 2013 H1 2014 H1 2013 H1 2014 H1 2013 H1 2014 • Strong growth of revenues outside core markets (+ 67%) and more challenging environment in core countries (+ 9%)
Slide 4: Q2 2014 dynamics
Q2 2014 dynamics There is a strong relationship between metasearch players and Online Travel Agencies, which are metasearch’s main source of revenues. In particular in the Group’s Travel Agency markets in Spain and Italy, some competitors pursued particularly aggressive pricing policies enhancing an
Slide 5: Impact of metasearch on the online travel environment
Impact of metasearch on the online travel environment About metasearch… Upon a search query by its users, the metasearch engine scans several providers (airlines and OTAs) simultaneously and aggregates and compares the best results. Once users have chosen their preferred solution, they are directed
Slide 6: Other dynamics
Other dynamics SEO + DIRECT traffic Regulatory OTA business: free traffic sources such as DIRECT and SEO We implemented regulatory requirements during the first half (Search Engine Optimisation) have been stable in our core of 2014. No material impact from these implementations. markets. No impact f
Slide 7: Key strategic actions
Key strategic actions Flight OTA business Internationalisation Vacation and Tour Metasearch (Jetcost) Operating business Working on better user Technological developments Continuous development of Settling phase completed, experience in our websites, will enable increased cutting edge platforms to o
Slide 8: Metasearch: key strategic focus: internationalisation, broader offer, best user-experience
Key strategic focus: internationalisation, broader offer, the best user-experience in all channels Potential Total Addressable Market Region Cumulative Population Untapped Potential: 5.6 Bn Rest of Asia Middle East South America App METASEARCH Newly Entered: Australia 610 MM Philippines Russia Singa
Slide 9: Key internal growth drivers
Key internal growth drivers Tour Operator Online Travel Agency Metasearch Core countries Developing New countries Pioneer countries METASEARCH X X X X OTA X X X TOUR OPERATOR X Key organic Product Flights through Flights growth drivers Metasearch diversification metasearch/SEM Through metasearch p.9
Slide 10: Growth by M&A - a robust target evaluation strategy
Growth by M&A - a robust target evaluation strategy Low competition Transfer Activities&Ticketing Cruises Social Travel Packages Holiday apt OTA car rental Flights Easy integration Metasearch Low overlapping Hotel p.10
Slide 11: Disclaimer
Disclaimer Some of the information contained in this presentation contains forward-looking statements. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those