Serko Ltd. · NZX:SKO
Serko — Shareholder Meeting (June 2025)
31 slides from Serko's shareholder meeting presentation, Jun 26, 2025
Slide 1: Annual Shareholders Meeting
Annual Shareholders Meeting 26 June 2025
Slide 2: Important notice
Important notice • This presentation has been prepared by Serko Limited ("Serko"). All information is current at the date of this presentation, unless stated otherwise. All currency amounts are in NZ dollars unless stated otherwise. • Information in this presentation • is for general information pur
Slide 3: Welcome from Chair
Welcome from Chair Claudia Batten
Slide 4: Serko's Board
Serko's Board Claudia Jan Sean Darrin Clyde Bob Batten Dawson Gourley Grafton McConaghy Shaw Serko 4
Slide 5: Order of meeting
1. Chair Address 2. CEO Address Order of 3. Shareholder Q&A meeting 4. Formal Business & Resolutions 5. General Business Serko 5
Slide 6: Chair's Address
Chair's Address Claudia Batten Serko 6
Slide 7: A track record of growth and disciplined execution
A track record of growth and disciplined execution High growth Strategic Operational Pursuing trajectory impact leverage new growth Total income up Booking.com Underpinned by Supported by 27% for FY25 for Business efficiency and targeted powering growth capability investment Serko 7
Slide 8: Disciplined growth delivers improved cashflow
FY25 financial results Disciplined growth delivers improved cashflow FY25 Change v FY24 Total income $90.5m 27% Total spend $92.7m 10% Increase in net loss after tax included Total operating expenses $107.6m 20% $5.1m non-cash $4.3m accounting impairment relating to EBITDAFI gain/(loss) $2.8m improv
Slide 9: Delivery on our FY25 Board priorities
Delivery on our FY25 Board priorities FY25 focus Data-led Talent and Capital Environmental, Growth business leadership management social and at scale governance Lay groundwork Support talent Intelligent Uplift in practices Stable growth for commercial growth and investments into including reset with
Slide 10: Disciplined capital management to accelerate scale
Disciplined capital management to accelerate scale Investing ahead of revenue Strategic growth and market expansion • Approved $40m acceleration • Oversaw Booking.com partnership renewal investment for Serko platform • Supported North America expansion • Part of broader technology (GetThere + Sabre)
Slide 11: Our FY26 Board priorities
Our FY26 Board priorities FY26 focus Capital Board Strategy and AI governance Global management succession execution and oversight workforce Disciplined Strengthen Guide near-term Support smart Oversee scalable growth governance delivery and investment in AI integration to and value through new long
Slide 12: Board succession
Board succession Serko 12
Slide 13: CEO's Address
CEO's Address Darrin Grafton Serko 13
Slide 14: A rare opportunity ahead
A rare opportunity ahead • Global business travel market undergoing structural change • We have solid foundations, world-class partners and disciplined execution • We're delivering strong growth, improving cash flow and building long-term value • Our platform evolution and expansion in North America
Slide 15: 27% total income growth
27% total income growth Strong total income growth driven by momentum in Booking.com for Business Pre-acquisition business1 is cash generating, supporting our growth plans Total income Total online bookings $100m 7m $90.5m 6.4m $90m $4.8m 6m 0.9m $80m $71.2m 4.9m $70m 5m 4.1m $60m 4m $48.0m $50m +27
Slide 16: 29% increase in Booking.com for Business CRNs
29% increase in Booking.com for Business CRNs Completed room nights increased to 3.3 million, underpinned by stronger demand and product improvements Active customer numbers increased 29% Completed room nights Average revenue per CRN Active customers 3.5m 3.3m € 10 € 9.75 250 € 9.63 -1% 222k € 10 €
Slide 17: 18% growth in Australasian travel revenue
18% growth in Australasian travel revenue 12% increase in average revenue per booking and 6% increase in online bookings drove higher travel revenue growth Continued to invest and innovate in the Australasian market to strengthen our market leadership Australasia online bookings Australasia ARPB 4.1
Slide 18: We are achieving growth with cost discipline
We are achieving growth with cost discipline Total income vs total spend $60m • Disciplined cost management $48.6m saw income grow ahead of spend $50m $44.1m $41.1m $42.2m $42.2m $41.8m $47.7m • Total spend fell from 118% (FY24) $40m $42.7m to 102% of income (FY25) $36.3m $30m $34.8m • Business is d
Slide 19: Strong cashflow trajectory in pre-acquisition business
Strong cashflow trajectory in pre-acquisition business Pre-acquisition business Pre-acquisition business Free Cash Flow Total income vs total spend FY23 FY24 FY25 $85.7m $10m $7.4m $90m $83.3m $83.9m $80m $5m $83.0m $70m $0m $71.2m $60m ($5m) $50m ($10m) ($7.1m) $48.0m $40m ($15m) $30m ($20m) $20m (
Slide 20: We are accelerating organisational performance as we scale globally
We are accelerating organisational performance as we scale globally We are attracting global talent from leading consumer technology businesses to strengthen our team In FY25, we welcomed senior leaders with data, AI, and e-commerce 86% 8pts Overall employee expertise from Airbnb, Booking.com and Ub
Slide 21: Our opportunity and strategic focus
Strategic focus Our opportunity and strategic focus Growth drivers Serko’s strategic focus areas Consumer-grade Data and expectations intelligence 1 Booking.com for Business growth Business Content choice 2 Reinforce Australasian position efficiency 3 North American expansion Global business travel
Slide 22: GetThere's contribution to our US expansion extends beyond revenue
GetThere's contribution to our US expansion extends 3 beyond revenue Market presence The acquisition of GetThere, and our strategic partnership with Sabre, has redefined Serko's position in North America - No longer a challenger - we're an in-market player Insights, data and expertise - Engaging exi
Slide 23: North American foothold and expansion
3 North American foothold and expansion NOW INTEGRATION ACTIVATION EXPANSION AND SCALE Acquisition completion Expanding pipeline Scale US customer base • Employee onboarding • Building sales pipeline including • Signing and implementing co-selling with Sabre new customers • Customer and prospect eng
Slide 24: Targeted investment in platform acceleration
4 Targeted investment in platform acceleration Accelerated investment to unlock opportunity, drive faster innovation, and improve cost efficiency – built to support AI and data capabilities. Current key priorities Advanced scoping and planning We have continued to release new platform capabilities s
Slide 25: FY26 guidance
FY26 guidance We reaffirm our FY26 guidance provided on 20 May 2025 of $115m- $123m total income and $127m-$133m total spend. We continue to monitor elevated macroeconomic and geopolitical risks, including the potential impacts of conflict in the Middle East. We remain focused on disciplined executi
Slide 26: Q&A
Q&A Serko 26
Slide 27: General Business
General Business Serko 27
Slide 28: Thank you
Thank you Serko 28
Slide 29: Appendix
Appendix Serko 29
Slide 30: Definitions
Definitions Non-GAAP (generally accepted accounting practices) financial measures do not have standardised meanings prescribed by GAAP and therefore may not be comparable to similar financial information presented by other entities. Non-GAAP measures are used by management to monitor the business an
Slide 31: Definitions (continued)
Definitions (continued) • Headcount is a non-GAAP measure comprising of the number of employees (excluding casual workers and employees on maternity leave) and contractors employed on the last day of the period. • Managed customers is a non-GAAP term referring to companies that make online bookings