HomeToGo SE · XETR:HTG
HomeToGo — Q3 2023 Earnings Presentation
28 slides from HomeToGo's earnings presentation, Nov 9, 2023
Slide 1: Q3/23 Earnings Call
Q3/23 Earnings Call Dr. Patrick Andrae, CEO & Co-Founder Steffen Schneider, CFO 9 November 2023 1
Slide 2: All-time highs for IFRS Revenues and Adjusted EBITDA, continued strong growth momentum in Subscriptions & Services
All-time highs for IFRS Revenues and Adjusted EBITDA, continued strong growth momentum in Subscriptions & Services ● All-time high Q3/23 figures: ○ Booking Revenues of €45.3M (+7% YoY) driven by strong CPA business (CPA Onsite Booking Revenues +11% YoY, CPA Offsite Booking Revenues +28% YoY) Strong
Slide 3: Recent return to resilient booking behaviour not sufficient to compensate for softer summer demand
Recent return to resilient booking behaviour, mainly driven by early 2024 bookings, is not sufficient to compensate for softer summer demand Fluctuating booking behavior during 2023 Seasonal slowdown in demand during summer months Monthly YoY Booking Revenues growth Indicative monthly Booking Revenu
Slide 4: Further improving marketing efficiency fosters all-time high quarterly Adjusted EBITDA
Further improving marketing efficiency fosters all-time high quarterly Adjusted EBITDA 2. Continued growth in Subscriptions & 1. Higher Revenues at increased margins Services CPA Take Rate H1/23 9.7% 11.6% 9.4% 10.2% 2024 H1/23 H1/23 +63% 27 x +42% 12 +6% 74 +10% 139 19% IFRS IFRS 17 Rev IFRS . (+6
Slide 5: Record Q3 Booking Revenues Backlog provides high visibility into Q4/23 IFRS Revenues
Record Q3 Booking Revenues Backlog provides high visibility into Q4/23 IFRS Revenues Booking Revenues1 Backlog (€ million) Booking Revenues1 Backlog (€ million) +34% CAGR Rec ord +32% CAGR valu Q3 e 12.4 9.6 7.0 Q3/21 Q3/22 Q3/23 Check-in date in Q4/23 Check-in date in 2024 and beyond 1 Non-GAAP ope
Slide 6: Key focus 2023: Achieve Adjusted EBITDA break-even by FY2023
Key focus 2023: Achieve Adjusted EBITDA break-even by FY2023
Slide 7: Record absolute Q3 and 9M figures in terms of growth and profitability
Record absolute Q3 and 9M figures in terms of growth and profitability Booking Revenues (€ million) Onsite Booking Revenues (€ million) 65 50 46 45 43 43 32 42 32 23 33 21 27 28 26 25 21 21 18 20 19 21 16 15 19 13 14 11 8 8 8 7 6 8 5 4 4 3 ‘19 ‘20 ‘21 ‘22 ‘23 ‘19 ‘20 ‘21 ‘22 ‘23 ‘19 ‘20 ‘21 ‘22 ‘23
Slide 8: Strong growth in Subscriptions & Services and CPA Onsite doubling IFRS Revenues over two years
Strong growth in Subscriptions & Services and CPA Onsite contributed to almost doubling HomeToGo’s IFRS Revenues over two years Booking Revenues1 (€ million) - by deal type IFRS Revenues (€ million) - by deal type 160.8 138.5 +23% Subscriptions & Services +10% 29.4 +59% 27.0 131.0 19.5 126.2 14.5 +1
Slide 9: Further increasing Onsite share across all markets
Further increasing Onsite share across all markets 9M/2 Reve 3 nues Booking DACH On Rest : 82% site Shar 1 of Eu ( e rope +5pp YoY Onsite Booking Revenues Onsite Share %1 : 45% ) (+8p 54% p YoY ) 52% €60M 43% €40M 31% 70.8 26% 60.9 €20M 41.0 16.3 20.4 €0M 9M/19 9M/20 9M/21 9M/22 9M/23 Regional Booki
Slide 10: Strong increase in European Onsite share with absolute increase in North America
Strong increase in European Onsite share with absolute increase in North America Q3/2 Reve 3 Bookin Onsite Bookings (‘000 bookings) 1 Onsite Share (% of Booking Revenues) Shar nues On g e DA site (+4p CH 1: 80% p Yo Y) 169 51% 147 154 50% 45% 99 24% 32% 50 Q3/19 Q3/20 Q3/21 Q3/22 Q3/23 Q3/19 Q3/20 Q
Slide 11: Continuous improvement of our CPA Take Rate - record-high of 11.6%
Continuous improvement of our CPA Take Rate - record-high of 11.6% Take Rate % Increasing CPA Take Rate in % of GBV 15% 8pp Rec 10% 4. 11.6% ord 9.7% 9.2% 5% 6.8% Q3/19 Q3/21 Q3/22 Q3/23 Jan/20 Jul/20 Jan/21 Jul/21 Jan/22 Jul/22 Jan/23 Jul/23 11 Q3/23 Earnings Call
Slide 12: Significant progress in profitability driven by Marketing & Sales and G&A efficiency
Significant progress in profitability driven by higher Marketing & Sales, as well as G&A efficiency Costs and margins1,2 Q3/23 9M/23 (in % of IFRS Revenues) 2022 2023 Delta 2022 2023 Delta Cost of Revenues (2.0)% (1.4)% 0.6pp (3.3)% (2.2)% 1.1pp Gross profit 98.0% 98.6% 0.6pp 96.7% 97.8% 1.1pp Marke
Slide 13: High cash position despite payouts made to hosts in Q3/23
High cash position despite payouts made to hosts in Q3/23, with more cash conversion from receivables expected in Q4/23 as already noticed in October € million 50 145 (8) (2) (51) 0 136 95 85 Cash & cash Money Q2/23 Operating CF2 Investing CF3 Other Q3/23 Money Cash & cash equivalents market liquidi
Slide 14: Revised Revenues guidance for FY 2023 with confirmed Adjusted EBITDA break-even midpoint
Revised Revenues guidance for the full year 2023 with confirmed Adjusted EBITDA break-even as guidance midpoint Revised FY 2023 Guidance Booking Revenues1 Onsite Booking Revenues Share1,2 €180–190M 52%-56% (prev. €185–205M) (prev. 56%–61%) n t IFRS Revenues ed poi Adjusted EBITDA3 f irm mid n Co ven
Slide 15: HomeToGo Q3/23 summary
HomeToGo Q3/23 summary Achieved positive Adjusted EBITDA in 9M/23 and a record Q3 Adjusted EBITDA of €28.1M (+16% YoY) reflecting a 38% EBITDA margin - overall robust third quarter performance in Booking Revenues Sa ve and new all-time high CPA Take Rate da the te! HomeToGo Capital Markets Day Subsc
Slide 16: Q&A
Q&A home to go-
Slide 17: Appendix
Appendix home to go-
Slide 18: Reconciliation of Gross Booking Value (GBV) to IFRS Revenues
Reconciliation of Gross Booking Value (GBV) to IFRS Revenues KPI (in € million) Q3/23 9M/23 2022 2023 Delta 2022 2023 Delta GBV 421 401 (5)% 1,345 1,445 7% t/o GBV from CPA 278 254 (9)% 931 1,019 10% x CPA Take Rate (in %) 9.0% 11.6% 2.6pp 9.4% 11.0% 1.6pp Booking Revenues from CPA 25 29 18% 88 112
Slide 19: Development of HomeToGo Buyback program
Development of HomeToGo Buyback program Date # of shares acquired Weighted average price Purchased volume 18/09 - 22/09/2023 8,387 2.84 € 23,850.35 € 25/09 - 29/09/2023 10,056 2.85 € 28,611.16 € 02/10 - 06/10/2023 5,884 2.85 € 16,746.62 € 09/10 - 13/10/2023 1,000 2.83 € 2,830.00 € 16/10 - 20/10/2023
Slide 20: The HomeToGo Share
The HomeToGo Share Shareholder Structure1 Share Information Ticker symbol HTG Treasury Shares: 6.1% Insight: 17.9% Type of Shares Class A Shares (Public Shares) Others: 32.0% and Class B Shares (Founder Shares) Klaus Hommels2: 14.7% Stock Exchange Frankfurt Stock Exchange Market Segment Regulated Ma
Slide 21: Statements of Profit or Loss and adjusted EBITDA reconciliation
Statements of Profit or Loss and adjusted EBITDA reconciliation in € thousand Q3/23 Q3/22 9M/23 9M/22 Revenues 73,860 69,679 138,528 126,181 Cost of revenues (1,760) (3,565) (6,884) (9,196) Gross profit 72,099 66,114 131,645 116,984 Product development and operations (9,718) (7,360) (25,890) (20,764
Slide 22: Statements of Financial Position
Statements of Financial Position in € thousand Sep 30, 2023 Dec 31, 2022 Intangible assets 134,623 138,404 Property, plant and equipment 13,885 15,023 Income tax receivables (non-current) 54 95 Other financial assets (non-current) 5,702 5,504 Other assets (non-current) 114 143 Total non-current asse
Slide 23: Statements of Cash Flows
Statements of Cash Flows in € thousand Q3/23 Q3/22 9M/23 9M/22 Profit (loss) before tax 21,496 22,045 (19,541) (27,166) Adjustments for: Depreciation and amortization 2,468 3,925 9,254 9,400 Non-cash employee benefits expense - share-based payments 4,297 6,112 13,730 18,971 VSOP - Exercise tax settl
Slide 24: Upcoming events in 2023 - Join us!
Upcoming events in 2023 - Join us! Date Event Nov 15/16 Munich Capital Market Conference, Munich Nov 15/16 Morgan Stanley European TMT Conference, Barcelona Nov 27-29 German Equity Forum, 2023, Frankfurt Dec 4 Roadshow Luxembourg Dec 7 Roadshow Paris Dec 12 Virtual Capital Markets Day 2023 Dec 13-15
Slide 25: HomeToGo Investor Relations Contact
HomeToGo Investor Relations Contact Sebastian Carsten Grabert, CFA Fricke Director IR & Corporate Finance Senior Investor Relations Manager sebastian.grabert@hometogo.com carsten.fricke@hometogo.com Team Office Contact Location T: +49 157 501 63731 HomeToGo GmbH HomeToGo SE | 9, rue de Bitbourg, Pap
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Slide 27: Glossary
Glossary Core KPIs Further financial KPIs (Non-GAAP) Booking Revenues Booking Revenues is a non-GAAP operating metric to measure performance that is Gross Booking Value (GBV) GBV is the gross EUR value of bookings on our platform in a reporting period (including all defined as the net Euro value of
Slide 28: 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