Slide 1: 1H2021 Results IR Call
lm holding 1H2021 Results IR Call - 04.08.21 lmgroup.lastminute.com 1
Slide 2: Safe harbor statement
Safe harbor statement 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. Inform
Slide 3: Key takeouts and context
—, RISe Key takeouts and context c we Se
Slide 4: Uniquely positioned to better ride the recovery
Uniquely positioned to better ride the recovery COVID19 has led to structural changes in the travel industry, speeding up digital adoption and customer interaction via online channels lm group, thanks to its technology-driven DNA and its leadership position in the holiday sector, is best fit to ride
Slide 5: lm group addressing a gigantic, fast-growing, very fragmented market
lm group is addressing a gigantic, fast-growing, very fragmented market with potential to capture new customers from the offline space Global travel industry c.€1.2tn ▪ Travel & Tourism was one of the fastest growing sectors in the last decade, Large Addressable Market accounting for one in four new j
Slide 6: Leading position in the biggest EU countries with upside from shift to online
Featuring a leading position in the biggest EU Countries showing great potential upside due to accelerated shift to online ▪ European travel markets, in which lm group operates, are the largest ones ▪ Across lm OTA’s core markets c.50% of spend is online having increased by c.8% since 2014 ▪ Online
Slide 7: Consumers are embracing digital more than ever
Consumers are embracing digital more than ever The COVID-19 crisis has accelerated the digitization of customer Digital adoption grew in Europe and the United States in the six interactions by several years months prior to April 2021 What has happened already In most industries, Consumers say they w
Slide 8: Strong focus on the largest segment expected to rebound faster
lm group has strong focus on the largest segment expected to rebound faster, with potential to outperform the whole market Potential for further upside due to historical overperformance of lm group vs avg market EU Online Leisure Travel Gross Travel Value in €Bn CAGR +2.6% Total EU Travel Market* (o
Slide 9: Best-of-breed technology to make holidays relevant, affordable and easy to book
Best-of-breed technology to make holidays relevant, affordable and easy to book We do all for you in real-time We search for the best combination of Transportation and flight+hotel from a virtually unlimited inventory accommodation solutions of solutions and we propose travel-related services from our
Slide 10: Well balanced geographical footprint, backed by full licencing and bonding
A well balanced geographical footprint, backed by full licencing and bonding in the main EU countries, will support our recovery and growth plans going forward 10
Slide 11: Economics and Financials
—, Rise Economics and Financials Ss ~~ T
Slide 12: From 'Business EBITDA' to 'Adjusted EBITDA'
From ‘Business EBITDA’ to ‘Adjusted EBITDA’ ● To better represent the overall group business performance, we will now shift our focus from ‘Business EBITDA’ to ‘Adjusted EBITDA’ ● Key changes: ○ Revenues and Margins generated from bookings made through the usage of vouchers issued during Covid-19 to
Slide 13: Q2 2021 shows significant improvement vs Q2 2020 and Q1 2021
Q2 2021 shows significant improvement vs Q2 2020 and Q1 2021 H1 2021 down vs H1 2020 up to Gross Profit due to strong pre-COVID performance in Jan and Feb 2020 GTV Revenues Gross Profit -33% vs 1H 2020 driven by lower -39% vs LY in line with GTV. Q2 ‘21 3x Q2 Gross margin resulted 700bps higher than in
Slide 14: EBITDA and Net Income vs 2020: steeply rising
EBITDA and Net Income vs 2020: steeply rising thanks to lower cost base, upsell effects from voucher usage and deconsolidation of Destination Italia Fixed Costs EBITDA Adjusted Net Result Cost Reduction Program generated €10M Strong recovery driven by cost reduction Lower impacts from CX and D&A resu
Slide 15: €12M lower Net Loss vs 1H2020
€12M lower Net Loss vs 1H2020 thanks to cost reduction program and smaller impact from cancellations €M 12.2M 15
Slide 16: Cost reduction program made the machine more efficient
Cost reduction program made the machine more efficient. State support plans generated further savings. (46%) (32%) HR gross costs €7.5m vs ‘20 -13% vs ‘20 €10.1m vs ‘19 -12% vs ‘19 Efficiency from cost reduction plan and optimisation OPEX costs -31% vs ‘20 -44% vs ‘19 €3.5m vs ‘20 €10.3m vs ‘19 Extra sa
Slide 17: June Net Result in line with 2019 despite lower volumes
Through sharpened focus on highly-profitable business and thanks to a lighter cost base, June Net Result is in line with 2019, despite lower volumes 17.9% 26.3% 42% * 48.9% Cost reduction plan brought to Gross Margin went up to 49% Significant growth registered a considerable saving at HR and The impa
Slide 18: 40% of vouchers released have been already converted
40% of vouchers released have been already converted, generating incremental bookings and additional revenues 100% (40%) The conversion of vouchers generates customer loyalty 60% and upsell. On average, 1 cancellation covered by the release of a voucher, translates into 1.5 bookings and generates in
Slide 19: More than €150M gross cash
More than €150M gross cash as a result of quick rollout of the Group’s cash protection program and attentive financial strategy Cash-generating business with structural cash-advance inflow Solid gross cash position - on avg above €100M throughout the crisis - largely sufficient to support business requi
Slide 20: Positive NWC dynamics offset effects of vouchers usage
Great contribution from positive NWC dynamics that more than offset the effects of vouchers usage and reimbursements to banks and customers 20
Slide 21: Net Cash stood at €58.1m
Net Cash stood at €58.1m, significantly higher than 2020 EOY and very close to 2019 pre-COVID €65.1M Gross Cash Net Cash Net Cash Net Cash 30.06.21 30.06.21 31.12.20 31.03.21 21
Slide 22: Backup
Backup 22
Slide 23: 1H2020 restatement and comparison with 1H2021 - Simplified P&L
1H2020 restatement and comparison with 1H2021 - Simplified P&L Simplified P&L Structure * Expected non redemption of non Covid related vouchers Margin generated from vouchers utilization (3.7M) Expected misredemption of Covid related vouchers (5.5M) Cost of Covid related cancellations refunded through
Slide 24: Thanks
Thanks investor.relations@lastminute.com 24