Slide 1: lm group - 1H 2019 Results Investor Call
lm group - 1H 2019 Results Investor Call 08.08.2019
Slide 2: Disclaimer
The material in this presentation has been prepared by lastminute.com N.V. and reports general background information about lastminute.com group activities as at the date of this presentation. This information is given in summary form and does not purport to be complete. Information in this presenta
Slide 3: Group Structure
Group Structure Majority OTA META MEDIA Minority
Slide 4: Executive Summary: First Half 2019, Key Facts
Executive Summary First Half 2019, Key Facts ● Growth in GTV and Revenues thanks to OTA ○ Flights revenues growing 38% (in a single-digit growth market) driven by Meta Channel ○ DP continuous growth (+39% vs LY) thanks to our leadership position in a growing market ● Profitability of META significan
Slide 5: Executive Summary: First Half 2019, Key Facts
Executive Summary First Half 2019, Key Facts ● Continuous efficiencies (ie Customer Operations, Acquiring costs) and control of our cost base driving increase in profitability ● Record Business Ebitda for H1 2019 at €35m, more than double vs H1 2018 ● Business EBITDA margin at 21% vs 12% in 1H 2018
Slide 6: 1H 2017 > 1H 2019: Revenues grow 35% in 2 years, EBITDA almost tripled
lm group 1H 2017 > 1H 2019: Revenues grow 35% in 2 years EBITDA almost tripled thanks to revenues increase, efficiencies and savings in the cost base Net Revenues Business Ebitda 10% 11% 12% 19% 21% EBITDA margin Revenues are net of ICO
Slide 7: lm group - 2019 Revenues +19%, Ebitda doubled vs LY
lm group lm group - 2019 Revenues + 19%, Ebitda doubled vs LY Net Revenues Business Ebitda Mln€ Figures are net of ICO
Slide 8: OTA - Revenues +26.5%, Ebitda more than doubled vs LY
OTA OTA - Revenues + 26.5%, Ebitda more than doubled vs LY Revenues 1H2019 Business Ebitda 1H2019 Mln€ EBITDA 12% 21% margin
Slide 9: META - HotelScan more than doubling vs LY in terms of Revenue
Meta META - HotelScan more than doubling vs LY in terms of Revenue Ebitda increase of 19% as a result of focus on profitability of the flight business Revenues 1H2019 Business EBITDA 1H2019 Mln€ EBITDA 17% 24% margin
Slide 10: Media - 2019 Revenues +35% vs 2018 including Madfish
Forward Media - 2019 Revenues +35% vs 2018 including Madfish Over 7mln€ contribution to OTA P/L ,+21% vs 2018 Revenues 1H2019 Business EBITDA 1H2019 Mln€ +43% 6.1 7.4 OTA contribution -16% -7% EBITDA margin
Slide 11: CRUISES - 2019 Revenues +14% vs LY, Ebitda growing to 0,5mln€
CRUISE CRUISES - 2019 Revenues + 14% vs LY, Ebitda growing to 0,5mln€ Revenues (YTD June) Business Ebitda (YTD June) Mln€ EBITDA 14% 15% margin
Slide 12: Overall Cost base in line vs LY and huge efficiencies generated
lm group Overall Cost base in line vs LY and huge efficiencies generated Efficiency -18% -16% excluding Cruise and corporate cost
Slide 13: From Business EBITDA to Net Income
lm holding From Business EBITDA to Net Income 35.1 (3.3) (1.1) Corporat 1.2 31.9 30.2 e costs (1.9) lm 30.0 (9.6) venture Previous OTA Extraordinary years LM Items adjustments 20.4 (1.4) (6.8) (0.8) 12.2 MEDIA 5.7 META EBITDA Business EBITDA EBITDA D&A EBIT Finance Tax NET OTA + META Adjusted NET RE
Slide 14: Cash of €118.3M at 30 June 2019
lm holding Cash of € 118.3M at 30 June 2019 (+€45.4 mln€ vs 31 Dec 2018) (1.8) 2.4 (3.6) (6.7) Taxes Provision (0.5) (11.8) 40.3 & other 118.3 2.9 M&A (45.1) SBB Financial Capex assets NWC Financing 27.1 72.9 76.1 Financial Liabilities EBITDA (**) IFRS (*) Cash-flow from operations €m 67.9 2019 CASH
Slide 15: FY 2019 Guidance
Guidance FY 2019 Guidance - Skyrocketing growth vs 2018 ● OLD FY 2019 Guidance ○ Revenue above €300M ○ Core Business EBITDA €52-54M ○ Adjusted EBITDA €44-46M ● NEW FY 2019 Guidance ○ Revenue above €320M (+12% vs. 2018, +7% vs. previous guidance) ○ Core Business EBITDA €68-70M (+57% vs. 2018, +30% vs
Slide 16: Thanks
Thanks lmgroup.lastminute.com investor.relations@lastminute.com