Prosus N.v. Class N · EURONEXT:PRX
Prosus N.v. Class N — Despegar — Merger or Acquisition (December 2024)
12 slides from Prosus N.v. Class N's merger presentation, December 2024
Slide 1: Prosus to Acquire Despegar
Prosus to Acquire Despegar Significantly enhancing Prosus’s LATAM Ecosystem
Slide 2: Proposed transaction summary
Proposed transaction summary Despegar has entered into a definitive agreement with Prosus, under which Prosus will acquire all 1 outstanding shares of Despegar for an aggregate consideration of $1.7 billion $19.50 per share offer price represents a 33% premium to the closing price of Despegar as of
Slide 3: The transaction has strong strategic rationale
The transaction has strong strategic rationale Despegar is the #1 Online Travel Agency (OTA) in brand awareness in LatAm’s large and growing 1 market, with a strong management team, partner relationships and product & technology Despegar is a growing and profitable company with expanding margins 2 •
Slide 4: Prosus is building a strong global ecosystem
Prosus is building a strong global ecosystem Marketplaces Marketplace & Fintech mutually reinforcing each other Fintech Prosus Expertise & Investment in AI Re-imagine with (Gen)AI: Better Products; Better Companies 4
Slide 5: Creating the #1 Lifestyle Ecommerce Company in LatAm
Creating the #1 Lifestyle Ecommerce Company in LatAm ▪ ~100M Customers1 PAYMENT AND ▪ ~$20B GMV CREDIT FOOD DELIVERY ▪ +$500M in ecommerce EBIT2 ▪ Strong synergies EVENTS ONLINE TRAVEL ▪ Opportunity to create an AI First offering in the region CLASSIFIEDS 5 Note: 1 Estimated based on ~60M iFood cust
Slide 6: Despegar is the #1 Online Travel brand in LatAm
Despegar is the #1 Online Travel brand in LatAm ▪ Growing profitably Key Brand in LatAm (ex-Brazil) ▪ $5.6bn in gross bookings, $761m in revenue and EBITDA of $172m.1 Key Brand in Brazil ▪ Comprehensive product offering: Major brand in Mexico ▪ 700k+ listed hotels, 256+ airlines, 766k+ vacation rent
Slide 7: LatAm's travel market is driven by positive secular trends
LatAm’s travel market is driven by positive secular trends LatAm Travel Market Size ($bn) Daily Hours Spent on the Internet % of Bookings Online +9% 240 Mobile Desktop Online Offline 240 200 Brazil 58% 42% 9.3h 156 160 144 20% 19% 29% 30% 120 Colombia 55% 45% 9.0h 33% 39% 80 47% 51% Argentina 53% 47
Slide 8: Unique market dynamics reinforce the value of OTAs
Unique market dynamics reinforce the value of OTAs Structural Tailwinds From Fragmented Supply Structure And Market Specificities Addressed by Despegar Top 3 Airlines Market Share Top 10 Hotel Chains Market Share (% of Total RPK, 2023) (% of Bookings, 2023) Multiple countries Languages: Spanish / Po
Slide 9: Despegar offers an attractive growth and profitability profile
Despegar offers an attractive growth and profitability profile Gross Bookings ($B) & Business Breakdown Net Revenue ($M) +5% CAGR 19-24: 3.1% +8% 5.6 5.3 761 4.7 706 525 2019 2023 2024E 2019 2023 2024E Reported Adj. EBITDA & Adj. EBITDA Margin 23% 25% 18% 82% 20% 16% 172 B2B/B2B2C B2C 15% 116 10% 26
Slide 10: Prosus's ecosystem can enhance Despegar's business
Prosus’s ecosystem can enhance Despegar’s business ➢ Increase bookings by introducing Despegar products to iFood customer base Cross ➢ iFood has experienced encouraging results from past travel marketing partnership Selling ➢ Increased value proposition for consumers (discounts, promos, deals, etc.)
Slide 11: The transaction has strong strategic rationale
The transaction has strong strategic rationale Despegar is the #1 Online Travel Agency (OTA) in brand awareness in LatAm’s large and growing 1 market, with a strong management team, partner relationships and product & technology Despegar is a growing and profitable company with expanding margins 2 •
Slide 12: For further information
For further information Visit our website | www.prosus.com or www.naspers.com Email | InvestorRelations@prosus.com