trivago N.V. · NASDAQ:TRVG
trivago — Q4 2019 Earnings Presentation
21 slides from trivago's earnings presentation, Feb 12, 2020
Slide 1: Earnings Call Q4 2019
Earnings Call Q4 2019 12 February 2020
Slide 2: Disclaimer
Disclaimer All of the information herein has been prepared by the Company solely for use in this presentation. The information contained in this presentation has not been independently verified. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be
Slide 3: Agenda
Agenda Company update Financial performance Appendix: Financial statements 3
Slide 4: Agenda: Financial performance
Agenda Company update Financial performance Appendix: Financial statements 4
Slide 5: Q4 2019 – Financial Update
Q4 2019 – Financial Update 2018 2019 YoY Total Revenue Adj. EBITDA1 Net Income / (Loss) Return on Advertising Spend (€mm) (€mm) (€mm) (%) 70.0 27.6 18.4 14.6 17.2 914.8 10.9 3.1 838.6 161% 158% (21.5) 134% 123% Q4 FY Q4 FY (% of Total Revenue) (% of Total Revenue) 166.8 155.5 16.5% 11.8% 8.3% 6.5% Q
Slide 6: Our advertiser mix: year-over-year decline in related party revenue share
Our advertiser mix: year-over-year decline in related party revenue share Advertiser revenue share as % of total revenue 28% 29% 29% All Others 33% 34% 40% Booking Holdings 39% 37% 31% Expedia Group Q4 2017 Q4 2018 Q4 2019 Source: Internal data 6
Slide 7: Agenda: Appendix: Financial statements
Agenda Company update Financial performance Appendix: Financial statements 7
Slide 8: KPI – Global
KPI – Global 2018 2019 YoY ROAS (%) Referral Revenue (€mm) 899.8 823.6 161% 158% 123% 134% 162.4 151.5 Q4 FY Q4 FY (3) ppts 11 ppts (7)% (8)% Qualified Referrals (mm) RPQR1 (€) 668.3 522.0 1.44 1.52 1.35 1.58 112.6 99.4 Q4 FY Q4 FY (12)% (22)% 6% 17% Source: Internal data 8 Note: Some numbers may no
Slide 9: KPI – Developed Europe
KPI – Developed Europe 2018 2019 YoY ROAS (%) Referral Revenue (€mm) 196% 198% 378.9 347.1 143% 151% 67.2 59.6 Q4 FY Q4 FY 2 ppts 8 ppts (11)% (8)% Qualified Referrals (mm) RPQR1 (€) 1.80 1.80 1.78 • Negatively impacted 1.54 • FY improvement driven by 246.7 195.4 by product and optimizations of our
Slide 10: KPI – Americas
KPI – Americas 2018 2019 YoY ROAS (%) Referral Revenue (€mm) 159% 162% 316.0 305.1 121% 130% 53.9 55.9 Q4 FY Q4 FY 3 ppts 9 ppts 4% (3)% Qualified Referrals (mm) RPQR1 (€) 1.92 2.09 1.72 1.73 • Negatively impacted • Improvement driven by 182.3 146.1 by product optimizations optimizations of our but
Slide 11: KPI – Rest of World
KPI – Rest of World 2018 2019 YoY ROAS (%) Referral Revenue (€mm) 127% 116% 204.9 171.5 100% 113% 41.3 36.1 Q4 FY Q4 FY (11) ppts 13 ppts (13)% (16)% Qualified Referrals (mm) RPQR1 (€) • Negatively impacted • Improvement driven by 239.3 by product and 0.94 0.97 0.86 0.95 Advertising Spend, platforms
Slide 12: Appendix
Appendix 12
Slide 13: Consolidated Financials FY 2019, trivago N.V.
Consolidated Financials FY 2019, trivago N.V. in €k FY 2019 FY 2018 Abs Δ vs. FY'18 Δ vs. FY'18 Referral revenue 823,624 899,822 (76,198) (8.5) % Other revenue 14,993 14,994 (1) — % Total revenue 838,617 914,816 (76,199) (8.3) % Comments Cost of revenue 9,159 5,435 3,724 68.5 % % of Total revenue 1.
Slide 14: Consolidated Financial Information FY 2019, trivago N.V.
Consolidated Financial Information FY 2019, trivago N.V. in €k FY 2019 FY 2018 Abs Δ vs. FY'18 Δ vs. FY'18 Referral revenue 823,624 899,822 (76,198) (8.5) % 1 Other revenue 14,993 14,994 (1) — % 2 Total revenue 838,617 914,816 (76,199) (8.3) % Comments Cost of revenue excl. SBC 8,890 5,251 3,639 69.
Slide 15: Reconciliation of non-GAAP Financial Measures FY 2019
Reconciliation of non-GAAP Financial Measures FY 2019, trivago N.V. in €mm FY 2019 FY 2018 Abs Δ vs. FY'18 Net income/(loss) 17.2 (21.5) 38.7 Income from equity method investment 0.5 0.1 0.4 Income/(loss) before equity method investment 16.7 (21.6) 38.3 Expense for income taxes 21.0 1.1 19.9 Incom e
Slide 16: Consolidated Financials Q4 2019, trivago N.V.
Consolidated Financials Q4 2019, trivago N.V. in €k Q4 2019 Q4 2018 Abs Δ vs. Q4'18 Δ vs. Q4'18 Referral revenue 151,547 162,389 (10,842) (6.7) % Other revenue 3,920 4,389 (469) (10.7) % Total revenue Cost of revenue 155,467 2,621 166,778 1,001 (11,311) 1,620 (6.8) % 161.8 % Comments % of Total reve
Slide 17: Consolidated Financial Information Q4 2019, trivago N.V.
Consolidated Financial Information Q4 2019, trivago N.V. in €k Q4 2019 Q4 2018 Abs Δ vs. Q4'18 Δ vs. Q4'18 Referral revenue 151,547 162,389 (10,842) (6.7) % 1 Other revenue 3,920 4,389 (469) (10.7) % 2 Total revenue Cost of revenue excl. SBC 155,467 2,556 166,778 955 (11,312) 1,601 (6.8) % 167.6 % C
Slide 18: Reconciliation of non-GAAP Financial Measures Q4 2019
Reconciliation of non-GAAP Financial Measures Q4 2019, trivago N.V. in €mm Q4 2019 Q4 2018 Abs Δ vs. Q4'18 Δ vs. Q4'18 Net income/(loss) 3.1 10.9 (7.8) (71.6) % Income from equity method investment 0.2 0.0 0.1 100.0 Income/(loss) before equity method investment 2.9 10.9 (8.0) (73.4) % Expense for in
Slide 19: Consolidated Statement of Cash Flows FY 2019
Consolidated Statement of Cash Flows FY 2019, trivago N.V. in €k FY 2019 FY 2018 Net income/(loss) 17,161 (21,489) 1 Adjustments to reconcile net income/(loss) to net cash provided by/(used in): Depreciation 10,298 11,370 Comments Amortization of intangible assets 1,685 1,684 1. 1 Net income improve
Slide 20: Consolidated Statement of Cash Flows Q4 2019
Consolidated Statement of Cash Flows Q4 2019, trivago N.V. in €k Q4 2019 Q4 2018 Net income/(loss) 3,131 10,989 1 Adjustments to reconcile net income/(loss) to net cash provided by/(used in): Depreciation 2,767 2,880 Comments Amortization of intangible assets 422 421 1. 1 Net income excluding non-ca
Slide 21: Consolidated Balance Sheet FY 2019
Consolidated Balance Sheet FY 2019, trivago N.V. in €k As of As of December 31, 2019 December 31, 2018 Cash and cash equivalents 218,106 161,871 1 Restricted cash Accounts receivable, less allow ance 122 37,747 122 54,981 2 Comments Accounts receivable, related party 31,139 39,655 Short-term investm