HomeToGo SE · XETR:HTG
HomeToGo — Q1 2022 Earnings Presentation
30 slides from HomeToGo's earnings presentation, May 17, 2022
Slide 1: Q1/22 Earnings Call
Q1/22 Earnings Call Dr. Patrick Andrae, Co-founder & CEO Steffen Schneider, CFO 17 May 2022
Slide 2: 2022 is off to a great start in Q1 with IFRS Revenues almost doubling
2022 is off to a great start in Q1 with IFRS Revenues almost doubling and highest Booking Revenues on record We have taken further strides during Q1 on our journey towards increasing our Onsite Booking Revenues share1, with onsite share reaching 55%, more than doubling YoY amid strong growth in supp
Slide 3: Business Update
Business Update Dr. Patrick Andrae, Co-founder & CEO
Slide 4: We are taking decisive and transformative steps to enable our future growth
We are taking decisive and transformative steps to enable our future growth 1 2 3 Travelers Supply Technology Creating an unparalleled Growing our global footprint Developing new solutions to enable experience to drive return and scaling diversified supply growth for the entire alternative demand th
Slide 5: We further strengthened our position as the go-to destination for vacation rentals
We further strengthened our position as the go-to destination for vacation rentals during Q1, particularly in our home market Global Organic Search Visibility1 in points, LTM 264 DACH Booking Continuously advanced our global organic 253 Revenues search visibility in Q1 +300% YoY due to 231 strong or
Slide 6: We continuously enhanced our product to create an unparalleled experience
We continuously enhanced our product to create an unparalleled experience and drive return demand Improved digital product enhancement Improved checkout experience across Web and App by launching locally relevant payment options Increasing users’ choice by New integrations providing enhanced alterna
Slide 7: Financial Performance Update
Financial Performance Update Steffen Schneider, CFO
Slide 8: IFRS Revenues almost doubled YoY in Q1 with highest Booking Revenues on record
IFRS Revenues almost doubled YoY in Q1 with and highest Booking Revenues on record Q1 Performance (EUR million) Gross Booking Value Booking Revenues IFRS Revenues Onsite Booking Onsite IFRS Onsite GBV Revenues Revenues >2.5x YoY +6% >5x YoY >2.8x YoY +39% +98% (10)% +185% +426% CPA GBV Estimated GBV
Slide 9: Largely stable basket size development YoY
Largely stable basket size development YoY, combining shorter trips in Europe during spring and increasing ADRs in the U.S. 12M rolling average Basket Size In EUR Q1/22 Earnings Call 9
Slide 10: Take Rate driven by strength in onsite business, ahead of expectations
Take Rate driven by strength in onsite business, ahead of expectations Take Rate1 In % Overall Take Rate Guidance Q1: 9.1% 2022E: >8.0% 2021A: 8.4% 1) Take Rate is defined as Booking Revenues divided by Gross Booking Value (excl. Hotels and Subscriptions & Services) Q1/22 Earnings Call 10
Slide 11: We continue to make great strides in growing our onsite business
We continue to make great strides in growing our onsite business Onsite Share Europe Onsite Share North America # of Onsite Bookings % of Booking Revenues1 % of Booking Revenues1 ‘000 of Bookings 9pp 177% 17pp 1) Booking Revenues net of Subscriptions & Services Q1/22 Earnings Call 11
Slide 12: Adjusted EBITDA margin strongly improved YoY on increased business volume
Adjusted EBITDA margin strongly improved YoY on increased business volume Q1 Adj. EBITDA1 EUR million Please note: Profitability in the first half of (167.4)%2 (118.3)%2 the year is usually lower than the second half. HomeToGo recognizes the majority of marketing expenses in the first half of the ye
Slide 13: Profitability improved across all major cost lines
Profitability improved across all major cost lines Costs and margins1 Q1 (in % of IFRS revenues) 2021 2022 Delta Cost of sales (7.8%) (8.9%) (1.1pp) Gross profit 92.2% 91.1% (1.1pp) Strong organic & repeat Sales & Marketing (207.3%) (170.9%) 36.4pp demand during Q1 Operating leverage & Product Devel
Slide 14: Record-high Booking Revenues backlog of 40m EUR, positive working capital
Considering our record-high Booking Revenues backlog of 40m EUR, we observe positive working capital Receivables1 Accounts Payables3 ● In the current business (EUR million) (EUR million) model, our operating cash flow varies seasonally with a delay between Booking and IFRS Revenues and is significan
Slide 15: Our cash position remains strong and enables us to invest through cycle
Our cash position remains strong and enables us to invest through cycle 253 (EUR million) (20) (48) 184 (1) (100) 84 Q4/21 Operating CF Investing CF2 Other Q1/22 Money Market Cash & cash Liquidity1 changes3 Liquidity1 Funds equivalents Free cash flow: (68)m EUR Q1/22 1) Both Q1/22 and Q4/21 liquidit
Slide 16: Outlook
Outlook
Slide 17: Updated FY/22 outlook to reflect strong Q1 topline performance
Updated FY/22 outlook to reflect strong Q1 topline performance and positive consolidation effects of e-domizil acquisition Old FY/22 Guidance (excl. e-domizil) New FY/22 Guidance (incl. e-domizil) IFRS Revenues IFRS Revenues +27% – +32% +40% – +50% 120–125m EUR 133–143m EUR Adjusted EBITDA1 Adjusted
Slide 18: Q2 started-off strongly amid a solid like-for-like growth in April
Q2 started-off strongly amid a solid like-for-like growth in April Q1/22 Earnings Call 18
Slide 19: Q&A
Q&A
Slide 20: Appendix
home to go. Appendix
Slide 21: GBV to IFRS Revenue Bridge
GBV to IFRS Revenue Bridge KPI Q1 (in EUR million) 2020 2021 2022 GBV 390 433 458 Take Rate (in %) 6.5% 7.1% 9.1% Booking Revenues 26 31 43 Cancellations (6) (7) (7) Bookings with check-in in (8) (14) (17) different reporting period IFRS Revenues 12 10 19 Q1/22 Earnings Call 21
Slide 22: Statements of Profit or Loss
Statements of Profit or Loss Consolidated Statement of Profit or Loss and Adjusted EBITDA reconciliation in € thousand Q1/2022 Q1/2021 Revenues 18,864 9,510 Cost of revenues (1,679) (743) Gross profit 17,185 8,767 Product development and operations (6,521) (4,483) Marketing and sales (32,714) (20,55
Slide 23: Statements of Financial Position
Statements of Financial Position Assets in € thousand Mar 31, 2022 Dec 31, 2021 Intangible assets 65,381 61,360 Property, plant and equipment 14,964 15,202 Trade and other receivables (non-current) 1,540 814 Income tax receivables (non-current) 69 79 Other financial assets (non-current) 47,683 8,249
Slide 24: Statements of Cash Flows
Statements of Cash Flows in € thousand Q1/2022 Q1/2021 Profit (loss) before tax (30,044) (23,777) Adjustments for: Depreciation and amortization 1,367 979 Non-cash employee benefits expense - share-based payments 5,005 3,582 VSOP - Exercise tax settlement charge (115) - Finance result, net 579 3,134
Slide 25: The HomeToGo Share
The HomeToGo Share Shareholder Structure1 Share Information Type of Shares Class A Shares (Public Shares) Treasury Shares: 7.7% and Class B Shares (Founder Shares) Insight: 17.9% Stock Exchange Frankfurt Stock Exchange Others: 30.6% Market Segment Regulated Market (General Standard) of Frankfurt Sto
Slide 26: Upcoming events
Upcoming events Date Event Monday/Tuesday, May 23+24 Equity Forum - German Spring Conference Tuesday, May 24 Annual General Meeting Wednesday, May 25 dbAccess Monday/Tuesday, June 13+14 Barclays Internet Conference (virtual) Wednesday, June 22 Goldman Sachs Business Service Travel, Leisure & Transpo
Slide 27: HomeToGo Investor Relations Contact
HomeToGo Investor Relations Contact Jan Team Office Edelmann Contact Location T: +49 157 501 63731 HomeToGo GmbH HomeToGo SE | 9, rue de Bitbourg, Pappelallee 78/79 L-1273 Luxembourg 10437 Berlin Investor Relations IR@hometogo.com IR@hometogo.com jan.edelmann@hometogo.com https://ir.hometogo.de/ htt
Slide 28: 28
28
Slide 29: Glossary
Glossary Feries Feries S.r.l (Milan), an indirect (100%) subsidiary of HomeToGo GmbH, operating main websites agriturismo.it and casevacanza.it Agriturismo Website for rural Italian inventory operated by feries Gross Booking Value (GBV) Non-IFRS operating metric defined as the gross Euro value of bo
Slide 30: Disclaimer
Disclaimer Forward-Looking Statements This Presentation contains certain forward-looking statements, including statements regarding HomeToGo’s future business and financial performance. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate