Lastminute.com N.v. · SIX:LMN
Lastminute.com — Investor Conference Zurich 2019
29 slides from Lastminute.com's conference presentation, Mar 19, 2019
Slide 1: Investor Conference
Investor Conference lm group Zurich, 19 March 2019
Slide 2: Disclaimer
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 th
Slide 3: lm group is a listed holding company providing corporate services
lm group is a listed holding company providing corporate services and organised around two business areas 3
Slide 4: FY2018 closing figures
FY2018 closing figures
Slide 5: A significant growth both in terms of Revenues and EBITDA
A significant growth both in terms of Revenues and EBITDA Core Business Revenues Core Business EBITDA €M 2018 Closing (7.9) +14.2% YoY +60% YoY 57.3 Inter company 286.9 44.0 13.4 251.3 META 237.6 META 30.6 27.5 OTA 2018 2017 OTA 2018 2017 5
Slide 6: EBITDA record growth: Diversification strategy is successful
2018: A Record Year EBITDA record growth: Diversification strategy + 60% vs Last Year (+ €16.5m) is successful OTA organic growth primarily driven from Holiday packages (DP+TO) at approx 53% of Dynamic Packages (+ €8.5m EBITDA) OTA gross margin Successful integration of weg.de Ancillaries revenues a
Slide 7: Travel & Leisure products have overtaken Flight-only product
For the first time in history, our Travel & Leisure* products have overtaken Flight-only product Mln € ➢ Both OTA T&L and META grew significantly overtime ➢ Flight business slightly decreased, but good signs of recovery were shown from 4Q2018 META Revenue are NET of intercompany revenues * Travel &
Slide 8: A well balanced geographical reach, backed by leadership position
A well balanced geographical reach, backed by a leadership position in the main European Countries Today’s picture Evolution over time Revenues were €146M Revenues were €287M with a more diversified picture 8
Slide 9: Core Business Ebitda skyrocketing in 2018
Core Business Ebitda skyrocketing in 2018 Mln € ➢OTA Ebitda more than doubled yoy ➢META keeps the pace with a stunning 23.4% EBITDA margin* * Margin calculated on Gross Revenue (€57.3M), 27% if calculated on Net Revenue (€49.4M) 9
Slide 10: Fixed Cost base is stable considering the impact of weg.de integration
Fixed Cost base is stable considering the impact of weg.de integration Mln € ➢Fixed costs grew less than proportionally compared to Revenues thus implying a significant efficiency generated ➢Impact of weg.de opex consolidation is approx 4.1 mln€ 10
Slide 11: €16.2M of net result improvement yoy
€16.2M of net result improvement yoy Positive net income of €8.4m (+€16.2 m vs Last Year) FY 2017 (€M) 27.2 (6.3) (3.0) (1.3) 16.9 (8.4) 8.5 (12.5) (4.0) 0.4 (4.2) (7.8) Delta % +62.0% +0.1% +23.3% -7.7% +94.1% -34.5% >100% +16.0% >100% >100% -4.8% >100% 11
Slide 12: Capable to generate €41.8M cash from operations
Capable to generate €41.8M cash from operations +€41.8M 52.1 NFP 45.3 Cash generation in 2018 is €20.8m mainly driven by EBITDA and working capital 39.9% 31/12/2017 -29.6% increase. Proceeds from borrowings have been used to sustain PSTO project. €M 12
Slide 13: Business strategy
Business strategy
Slide 14: Clear strategic focus to deliver significant value in the mid-to-long run
Clear strategic focus to deliver significant value in the mid-to-long run OTA ● Boost growth on Holiday business, leveraging our leadership in Dynamic Packages, to gain market share from traditional tour operators META ● Relaunch flight-only business through sophistication of pricing ● Invest to str
Slide 15: OTA
OTA lastminute.com ‘CEO Marco Corradino OTA OTA £ bravofly rumbo WEG.de volagratis crocierissime.it 15 EJ srou
Slide 16: European travel market projected to grow by 3% yearly
European travel market is projected to grow by 3% yearly reaching €320 billion in 2022 mainly driven by online channels ▪ The importance of travel for Europeans, along with the fact that Europe consistently attracts visitors from around the globe, continue to drive growth ▪ With online bookings now
Slide 17: Skyrocketing DP growth gets lastminute.com in a position of leadership
Skyrocketing DP growth gets lastminute.com in a position of leadership We are the only player active in the hotel area that successfully diversified into the holiday package business Revenue evolution over time DP leverages our Global Hotel partnership platform to We are leader in the field thanks t
Slide 18: B2B2C initiatives on DP represent an emerging lucrative segment
B2B2C initiatives on DP represent an emerging lucrative segment We launched a series of B2B2C initiatives through which other players can integrate our technology into their offering ● lastminute.com is the flight+hotel partner for booking.com and other travel sites (+ other in pipeline) that do not
Slide 19: TO packages growth fueled by weg.de integration
TO packages growth fueled by weg.de integration ➢weg.de bookings and GTV hit record levels in first year of lm group ownership ➢EBITDA turnaround thanks to successful integration and HR downsizing ➢Thanks to weg.de, TO sales grew by nearly 100% yoy * COMVEL standalone ** 2017 is restated due to acco
Slide 20: Offer customers a full ecosystem of Financial Services
We continuously explore the opportunity to offer our customers a full ecosystem of Financial Services • Innovate faster than our competitors • Generate new revenue streams • Increase loyalty and repeat purchases • Strengthen our brand 20
Slide 21: Official launch of in.lastminute.com
Namaste - super excited to announce official launch of in.lastminute.com We've partnered with Bangalore based travel start-up iTraveller.com to offering a flexible travel itinerary creation and booking platform powered by a strong offline sales and support team. Our aim is to boost outbound India lo
Slide 22: META
META ‘CEO Marco Corradino OTA lastminute.com META <) 5 hotelscar 22 Gl sroup
Slide 23: META - Successful integration of a new vertical
META - Successful integration of a new vertical. Launch of new country sites in pipeline Jetcost plans to extend foothold in existing markets and penetrate new geographies, while accelerating growth further through launch/acquisition of new verticals New vertical already implemented New geographies
Slide 24: MEDIA
‘CEO Marco Corradino OTA lastminute.com MEDIA & playbook jim] travelpeople & Madfish 24 [Gy srou
Slide 25: MEDIA – a next generation media company
MEDIA – a next generation media company to support growth through alternative revenues streams COVERAGE: 60 M unique users/month 25
Slide 26: Bring it in
Bring it in 26
Slide 27: Guidance FY2019
Guidance FY2019
Slide 28: Strong current trading supports hypothesis of further growth
Strong current trading supports hypothesis of further growth ● Core business Revenue above €300M ● Core business EBITDA in a range of €52-54M, +18/23% vs 2018 ● Adjusted EBITDA in a range of €44-46M, +34/40% vs 2018 28
Slide 29: Thanks
Thanks investor.relations@lastminute.com