HomeToGo SE · XETR:HTG
HomeToGo — Q1 2023 Earnings Presentation
28 slides from HomeToGo's earnings presentation, May 16, 2023
Slide 1: Q1/23 Earnings Call
Q1/23 Earnings Call Steffen Schneider, CFO 16 May 2023 1
Slide 2: Exceptional first quarter with highest ever Booking Revenues
Exceptional first quarter with highest ever Booking Revenues, stellar growth in Subscriptions & Services and record Booking Revenues Backlog ● Exceptional customer demand in Q1 growing Booking Revenues by +50% YoY to its best quarter ever of €65.3m Strong YoY growth in Booking Revenues leading ● End
Slide 3: All-time high Booking Revenues and robust IFRS Revenues in Q1
All-time high Booking Revenues and robust IFRS Revenues in Q1; Adjusted EBITDA Margin improved Booking Revenues (EUR million) Onsite Booking Revenues (EUR million) Q1/23 Booking Revenues Onsite Share: 58% (+3pp YoY) For DACH region: 85% 65 (+13pp YoY) 46 42 43 32 43 32 23 31 27 28 22 26 25 21 20 23
Slide 4: Strong Onsite and Subscriptions & Services growth
Strong Onsite and Subscriptions & Services growth led to more than doubling Booking and IFRS Revenues over two years Booking Revenues1 (EUR million) - by deal type IFRS Revenues (EUR million) - by deal type 65.3 21.9 Subscriptions +50% 10.3 & Services +16% 5.9 43.4 5.4 +109% +130% 18.9 3.2 +222% 3.2
Slide 5: Strong CPA bookings leading to record-high Booking Revenues Backlog
Strong CPA bookings leading to record-high Booking Revenues Backlog Booking Revenues (EUR million) Booking Revenues Backlog1 (EUR million) 69.5 % 65.3 % 09 50 +1 +1 43.4 38.6 Majority to be 31.3 realized between 27.9 Q2 and Q4/23 Q1/21 Q1/22 Q1/23 Q1/21 Q1/22 Q1/23 Backlog Same quarter Realization B
Slide 6: Majority of Booking Revenues Backlog will turn into IFRS Revenues in Q3
The majority of the Booking Revenues Backlog will turn into IFRS Revenues in Q3 Booking Revenues1 Backlog (EUR million) Booking Revenues1 Backlog (EUR million) 69.5 38.6 27.9 Q1/21 Q1/22 Q1/23 Check-in date in Q2 Check-in date in Q3 Check-in date in Q4 1 Non-GAAP operating metric to measure performa
Slide 7: Further increase in Onsite share driven by strong CPA demand
Further increase in Onsite share driven by strong CPA demand Onsite Booking Revenues Onsite Share % 1 Q1/23 Booking Revenues Onsite Share DACH1: 85% (+13pp YoY) 58% We cater to our Partners’ needs and €40M have developed into an integral part 55% of their business: €30M Partners have access to a hig
Slide 8: Strong progress across regions in building up Onsite Business
Strong progress across regions in building up Onsite Business Q1/2 3 Onsit Booking Onsite Bookings (‘000 bookings) Onsite Share1 (% of Booking Revenues) e Sh R are D evenue (+13 A s pp Y CH 1: 85% oY) 235 199 55% 58% 70 72 72 29% 29% 26% Q1/19 Q1/20 Q1/21 Q1/22 Q1/23 Q1/19 Q1/20 Q1/21 Q1/22 Q1/23 Eu
Slide 9: Continuous improvements of our CPA Take Rate
Continuous improvements of our CPA Take Rate reflecting higher Onsite share and better overall economics Take Rate % March CPA Take Rate of 10.5% Increasing CPA Take Rate in % of GBV 15% pp 10.6% 10% 3.8 9.4% 7.4% 5% 6.8% Q1/19 Q1/21 Q1/22 Q1/23 Jan/20 Jul/20 Jan/21 Jul/21 Jan/22 Jul/22 Jan/23 9 Q1/
Slide 10: Repeat Booking Revenues and improved marketing efficiency
Favourable development of profitable Repeat Booking Revenues stream alongside with significantly improved marketing efficiency Repeat Booking Revenues Marketing and sales cost to Booking Revenues ratio from existing customers 78.2%1 GR CA 75.3% % 84 65.6% 54.4% (24)pp Q1/20 Q1/21 Q1/22 Q1/23 Q1/20 Q
Slide 11: Significant progress in profitability driven by Sales & Marketing efficiency
Significant progress in profitability driven by higher Sales & Marketing efficiency Costs and margins1,2 Q1 (in % of IFRS Revenues) 2022 2023 Delta Cost of Revenues (6.5%) (4.7%) 1.8pp Gross profit 93.5% 95.3% 1.8pp Sales & Marketing (170.2%) (154.9%) 15.3pp Product Development (24.6%) (30.2%) (5.6)
Slide 12: Strong cash position at the end of Q1/23
Strong cash position at the end Q1/23 despite building up Record Booking Revenues Backlog and significant outstanding Cash Inflows EUR million 49 161 (19) (1) (1) 140 (50) 112 90 Cash & cash Money Q4/22 Operating CF2 Investing CF3 Other Q1/23 Money Cash & cash equivalents market liquidity1 changes4
Slide 13: Key focus 2023: Achieve Adjusted EBITDA break-even by FY2023
Key focus 2023: Achieve Adjusted EBITDA break-even by FY2023
Slide 14: We confirm our Adj. EBITDA break-even objective in FY2023
We confirm our Adj. EBITDA break-even objective in FY2023 while maintaining a double-digit IFRS Revenues growth rate FY2023 Guidance Booking Revenues1 Onsite Booking Revenues Share1,2 +13% – +25% +2pp - +7pp EUR 185–205m 56%–61% Q1/23 Adj. EBITDA (24.8)m IFRS Revenues Adjusted EBITDA3 +13% – +19% (2
Slide 15: Strong performance continues into Q2
Strong performance continues into Q2 and provides high confidence for our 2023 guidance Monthly Booking Revenues 2023 2022 2021 2020 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 15 Q1/23 Earnings Call
Slide 16: HomeToGo Q1/23 summary
HomeToGo Q1/23 summary Exceptional first quarter with highest ever Booking Revenues, record Booking Revenues Backlog, stellar YoY growth in Subscriptions & Services, and first time double-digit quarter CPA Take Rate Improved marketing efficiency and higher Repeat Booking Revenues led to an improved
Slide 17: Q&A
Q&A home to go-
Slide 18: Appendix
Appendix home to go-
Slide 19: Topline performance vs 2022 level
Topline performance vs 2022 level KPI (in EUR million) Q1 2022 2023 Delta GBV 458 604 32% CPA Take Rate (in %) 9.4% 10.6% 1.2pp Booking Revenues 43 65 50% Cancellations (7) (10) 45% Revenues with different (18) (33) 94% recognition period in IFRS IFRS Revenues 19 22 16% 19 Q1/23 Earnings Call
Slide 20: The HomeToGo Share
The HomeToGo Share Shareholder Structure1 Share Information Type of Shares Class A Shares (Public Shares) Treasury Shares: 6.1% and Class B Shares (Founder Shares) Insight: 17.9% Others: 32.0% Stock Exchange Frankfurt Stock Exchange Klaus Hommels2: 14.7% Market Segment Regulated Market (Prime Standa
Slide 21: Statements of Profit or Loss and adjusted EBITDA reconciliation
Statements of Profit or Loss and adjusted EBITDA reconciliation in € thousand Q1/23 Q1/22 Revenues 18,864 21,883 Cost of revenues (3,404) (1,679) Gross profit 17,185 18,478 Product development and operations (8,316) (6,521) Marketing and sales (35,540) (32,714) General and administrative (9,277) (8,
Slide 22: Statements of Financial Position
Statements of Financial Position Assets in € thousand Mar 31, 2023 Dez 31, 2022 Intangible assets 135,711 138,404 Property, plant and equipment 14,597 15,023 Income tax receivables (non-current) 95 95 Other financial assets (non-current) 5,529 5,504 Other assets (non-current) 247 143 Total non-curre
Slide 23: Statements of Cash Flows
Statements of Cash Flows in € thousand Q1/23 Q1/22 Profit (loss) before tax (35,112) (30,044) Adjustments for: Depreciation and amortization 4,222 1,367 Non-cash employee benefits expense - share-based payments 5,048 5,005 VSOP - Exercise tax settlement charge (384) — VSOP – Cash paid to beneficiari
Slide 24: Upcoming events in 2023
Upcoming events in 2023 Date Event May 23 Annual General Meeting 2023 Jun 19 Goldman Sachs Business Services, Leisure & Transport Conference, London Jun 20 / 21 dbAccess German Corporate Conference, Frankfurt Jun 27 / 28 Non-deal roadshow Austria and Switzerland Aug 15 Q2 2023 Financial Results and
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