Jayride Group Ltd. · ASX:JAY
Jayride — H1 2021 Earnings Presentation
30 slides from Jayride's earnings presentation, Feb 24, 2021
Slide 1: 1H FY21 Results Presentation
1H FY21 RESULTS PRESENTATION Rod Bishop, Managing Director Peter McWilliam, Chief Financial Officer 24th February 2021 ASX release authorised by Rod Bishop, Managing Director, Jayride Group Limited Jayride Group (ASX:JAY) The world–leading global airport transfers marketplace www.jayride.com
Slide 2: Message from the Managing Director
MESSAGE FROM THE MANAGING DIRECTOR Today we deliver our 1H FY21 Result into a landscape of once-in-a-generation opportunities. Recovery as vaccine programs roll-out We have an opportunity to scale and increase market share as vaccinations roll-out. The proactive measures we took during the pandemic
Slide 3: Jayride Overview
JAYRIDE Net Revenue OVERVIEW COVID-19 98% CAGR recovery as Well placed for the travel recovery Six years to December 2019 vaccinations continue to roll-out as vaccinations continue to roll-out Jayride is the world–leading global travel marketplace for airport transfers Continuing to deliver…
Slide 4: Recovery Continues with Positive CM
RECOVERY CONTINUES Recovery since April 2020 is ongoing. Strategic focus on unit economics delivers WITH POSITIVE CM positive Contribution Margin (CM). 1 2 COVID-19 recovery potential COVID-19 COVID-19 recovery recovery potential potential +432% +262% CM% sets Q2 vs Q4 Q2 vs Q4 record 36% 1. Gross P
Slide 5: Contribution Margin Outlook
CONTRIBUTION MARGIN Clear line of sight on 50%+ CM margin as OUTLOOK refunds return to historical levels. Historical refund rates are stable at ~17%. Refund rates should return to historical Contribution Margin of levels once travel 36% in Q2 despite high policies stabilise. refund rates. With stabl
Slide 6: Domestic and Regional Travel Drives Recovery
DOMESTIC AND REGIONAL 90%+ of Trips Booked in key TRAVEL DRIVES RECOVERY markets, US and UK with advanced vaccination programs. Passenger Trips Booked - Quarters Traveller Source Markets (Q2) 83% CAGR Traveller Destination Markets (Q2) COVID-19 recovery potential +153% Q2 vs Q4 Jayride sources…
Slide 7: 1H FY21 Strategic Priorities Delivered
1H FY21 STRATEGIC Continuing to execute on key strategies PRIORITIES DELIVERED to capture market share and enhance unit economics. Complete Traveller retention “More choices for travellers in the new–normal” Status Give travellers more choice to tailor their experience with inclusions and service
Slide 8: Improvements to Customer Experience
IMPROVEMENTS TO Launch of new membership system to CUSTOMER EXPERIENCE further enhance traveller experience and conversion rates on mobile. Mobile responsive booking website Mobile–first Membership system responsive website. building loyalty COVID-19 Prepared Rides Conversion rates …
Slide 9: Retention Improving with High Service Levels
RETENTION IMPROVING Retaining travellers at record WITH HIGH SERVICE LEVELS rates by providing quality service and refund guarantees. Key Drivers of Retention Returning Travellers (%) Increase Trips per Traveller (#) Increase Discover Retain Book Experience Best Experience! Best Customer…
Slide 10: Long-Term Strategic Priorities Delivered
LONG-TERM STRATEGIC Delivering on key milestones in PRIORITIES DELIVERED long–term strategy to build the leading global marketplace. Previous Milestones Complete Latest Milestone Complete Jayride Vision Major milestone delivered with clear path to 50%+ Contribution Margin …
Slide 11: Financials
FINANCIALS
Slide 12: Income Statement 1H FY21
INCOME STATEMENT Improved unit economics and cost savings 1H FY21 sustainable into travel recovery. Income Statement Summary 1H FY21 2H FY20 1H FY20 Movement Movement AUD(000's) AUD(000's) AUD(000's) HoH PCP 1H FY21 Operating Profit/Loss before non-cash costs % % Net revenue from Passenger Trips…
Slide 13: 1H FY21 Performance Dashboard
1H FY21 PERFORMANCE Recovery continues from Q2 with DASHBOARD Contribution Margin of 36% in Q2 despite high refund rates. Passenger Trips Booked Revenue Per Passenger Trip High refund rates impacted Net Revenue Per Trip Contribution Margin Non-Variable Cash Costs 1 Contribution Margin record high de
Slide 14: Investing for Growth
INVESTING Jayride is at an early stage in a long–term growth FOR GROWTH trajectory – making selective investments to drive scale and higher returns. 1H FY21 Cash Flows Receipts Contribution returns to positive Receipts movements returns to positive as company begins to regrow cash float …
Slide 15: Outlook
OUTLOOK
Slide 16: Structural Trend to Online
STRUCTURAL Online penetration of ride service in the travel TREND TO ONLINE industry is low and accelerating driven by changing traveller needs. Bookings made online by travel vertical Travellers needs met better online Health secure, high duty–of–care Comparison and choice Friendly…
Slide 17: Growing Travel Brand Adoption
GROWING TRAVEL Jayride travel brand partners implement the BRAND ADOPTION Jayride API to sell airport transfers and add new ancillary revenue to their travel business. 17
Slide 18: Competitive Position Enhanced
COMPETITIVE Jayride has the opportunity to build significant POSITION ENHANCED market share and leapfrog competing distressed online brands. Decisions to improve earnings power General Market Position Refunded travellers in full for cancelled travel at onset of COVID-19 Met obligations to…
Slide 19: COVID-19 Recovery Cycle
COVID-19 Jayride’s Total Addressable Market (TAM) in 2021 RECOVERY CYCLE expected to be 6.8 Billion Trips. Timeline 2021 – COVID-19 recovery IATA.org forecasts TAM to increase 60% YoY to 6.8 billion trips. Jayride Market Access would recover to 6.1 billion trips. COVID-19 2020 – COVID-19…
Slide 20: 2H FY21 Strategic Delivery
2H FY21 Build momentum and capture market share STRATEGIC DELIVERY with superior delivery. Ongoing Traveller retention “Improve the traveller experience” Status Grow member retention using the new membership system Enhance traveller self-service and customer service tools Traveller…
Slide 21: Summary Outlook
SUMMARY OUTLOOK Summary Passenger Trips Booked impacted by COVID-19 in 1H FY21, initial recovery continuing since April Non-variable Cash Costs reduced by 54% in 1H FY21 vs prior corresponding period (vs pre-COVID) Contribution Margin positive for 1H FY21, CM% Margin of 36% in Q2 Proven…
Slide 22: Investment Proposition
INVESTMENT Jayride is a growth company with a proven PROPOSITION track record at building revenue in a huge, and recovering, global market. A Global Leader B2C and B2B Business A Key Strategic Asset Jayride is a global leader in rides Building the traveller’s trusted The leading catalog of…
Slide 23: Appendix
APPENDIX
Slide 24: A Global Travel Marketplace
A GLOBAL TRAVEL All key IP and relationships retained, global MARKETPLACE coverage intact and ready for high earnings potential as travel recovery continues. Key measures of Jayride IP and global scale COVID-19 COVID-19 COVID-19 Jayride revenue and drivers COVID-19 COVID-19 COVID-19 24
Slide 25: Loyal Travel Brand Partners
LOYAL TRAVEL A broad, diversified and growing list of travel BRAND PARTNERS brand partners that sell airport transfers for Jayride. Plus more coming... 25
Slide 26: Balance Sheet 1H FY21
BALANCE SHEET $3.3M of cash, grants and trade receivables 1H FY21 available, plus contribution from cash flow and debt headroom. Balance Sheet Summary 31-Dec-2020 30-Jun-2020 Movement HoH AU$(000's) AU$(000's) AU$(000's) $2.3M of cash at 30th December 2020 Current assets Cash and cash equivalents
Slide 27: Cash Performance FY20
CASH PERFORMANCE Improved operating cash flows through enhanced FY20 unit economics and proactive cost saving measures. Cash Flow Summary Movement Movement 1H FY21 2H FY20 1H FY20 HoH PCP Operating cash flows improves 75% half-over-half as AUD(000's) AUD(000's) AUD(000's) % % refunds continue to…
Slide 28: Jayride Market Capitalisation
JAYRIDE MARKET CAPITALISATION Shares and Options as issued Shares on issue (#) Market capitalisation and EV (AUD$) Ordinary shares not escrowed 120,754,682 Market capitalisation (at $0.150 per share) ($ 18,400,000) Ordinary shares under escrow (Employee Shares) 1,997,642 *1 Cash at 31/12/2020 ($ 2,3
Slide 29: About Jayride Group
ABOUT JAYRIDE GROUP Jayride.com is the world’s leading publicly listed airport transfers marketplace, where travellers compare and book rides around the world. With Jayride.com, travellers can compare and book with 3,700+ ride service companies, servicing 1,600+ airports in 109 countries around the
Slide 30: For More Information
FOR MORE INFORMATION corporate@jayride.com