HomeToGo SE · XETR:HTG
HomeToGo — Investor Day (November 2022)
21 slides from HomeToGo's investor day presentation, Nov 10, 2022
Slide 1: Financial Deep Dive
FINANCIAL DEEP DIVE Capital Markets Day 2022 Steffen Schneider, CFO 10 November 2022 1
Slide 2: Track Record
TRACK RECORD 2
Slide 3: Proven track record to scale our business while improving our margins over time
Proven track record to scale our business while improving our margins over time… Group Booking Revenues EUR million Strong growth throughout the past years Onsite Booking Revenues have grown even faster 2018 2019 2020 2021 2022e Improved profitability Adj. over time EBITDA (46)% (23)% (4)% (22)% (16
Slide 4: Amid strong execution of our strategy
…Amid strong execution of our strategy Scaling of Onsite Increasing Take Rate Scaling of Subscription in % of Booking Revenues in % of GBV & Services in % of IFRS Revenues 52% 13.1% 9.4% 29% 6.4% 9.6% 11% 5.5% 2.1% 2018 2020 2022 2018 2020 2022 2018 2020 2022 Q3 YTD Q3 YTD Q3 YTD 4 CMD 2022 - Financ
Slide 5: Looking Ahead
LOOKING AHEAD 5
Slide 6: Achieve Adjusted EBITDA break-even by 2023
Key focus 2023: Achieve Adjusted EBITDA break-even by 2023
Slide 7: We are already Adjusted EBITDA positive in our biggest market
We are already Adjusted EBITDA positive in our biggest market… IFRS Revenues 9M 2022 Adj. EBITDA positive 1 DACH ~€69m Yes Rest of ~€38m 2 Europe No North ~€16m 3 America No 7 CMD 2022 - Financial Deep Dive
Slide 8: Well-prepared to deliver on our 2023 break-even goal
…and well-prepared to deliver on our 2023 break-even goal Adj. EBITDA Measures on our path to profitability Our approach impact margin Consolidate contracts within HomeToGo Low Group for optimal Take Rate Topline measures Implement add-on services for travelers Mid to create additional Take Rate upl
Slide 9: In 2023 profitability will derive from a sizable improvement in marketing efficiency
In 2023 profitability will derive from a sizable improvement in marketing efficiency HomeToGo Group P&L 2021A 2022F 2023e Gross margin 95.4% ≥95% ≥95% Sales & Marketing (99.9)% ≤(90)% ≤(70)% Product development (18.6)% ~(16)% ≤(15)% Admin (12.1)% ≤(14)% ≤(14)% Adj. EBITDA margin (22.2)% (14)-(18)% ≥
Slide 10: 2023 IFRS Revenues growth expected to be driven by a strong booking backlog
2023 IFRS Revenues growth is expected to be driven by a strong booking backlog from bookings being placed in 2022, higher repeat share and rising basket size Indicative expectations for FY/2023 Booking backlog Repeat demand Basket size Take Rate 10 CMD 2022 - Financial Deep Dive
Slide 11: Booking Revenues built up in H1, IFRS Revenues realized in H2
Given seasonality we are mainly building up Booking Revenues in H1 and will mainly realize IFRS Revenues in H2… EUR million 100 75 50 25 0 H1/19 H2/19 H1/20 H2/20 H1/21 H2/21 H1/22 Q3/22 Booking Revenue (after canc.) backlog IFRS Revenues 11 CMD 2022 - Financial Deep Dive
Slide 12: Profitability following IFRS Revenues
…with profitability following IFRS Revenues Adj. EBITDA margin (%) 50% 0% -50% -100% -150% H1/19 H2/19 H1/20 H2/20 H1/21 H2/21 H1/22 Q3/22 Adj. EBITDA margin (%) 12 CMD 2022 - Financial Deep Dive
Slide 13: Attractive financial profile for the medium-term
Attractive financial profile for the medium-term Guidance for Goal for Goal for 2022 2023 2024-2025 GROWTH 48-54% 15-25% 30-35% IFRS Revenues PROFITABILITY (14)-(18)% ≥0% 5-15% (Adj. EBITDA*) Starting at the lower end in 2024 and approaching higher end by 2025 Little capex (mainly capitalized R&D) C
Slide 14: Cash position remains strong, with further inflow expected for Q4
Cash position remains strong, with further inflow from summer travel season expected for Q4 EUR million 100 187 (18) (1) (1) 167 (49) 118 87 Cash & cash Money Q2/22 Operating CF2 Investing CF3 Other Q3/22 Money Cash & cash equivalents market liquidity1 changes4 liquidity1 market equivalents Q2/22 fu
Slide 15: Carefully invest in organic growth and selective profitable M&A
We will continue to carefully invest in organic growth and selective profitable M&A 01 Reinvest for organic growth Investments Balanced approach to organic growth investments and M&A to drive long-term growth for our business and thus 02 Profitable acquisitions M&A shareholder value 15 CMD 2022 - Fi
Slide 16: Long-Term Opportunity
LONG-TERM OPPORTUNITY 2028 and beyond 16
Slide 17: Our ambition is to achieve 1bn EUR in Booking Revenues by 2028/29
Our ambition is to achieve 1bn EUR in Booking Revenues by 2028/29… We are targeting a huge market opportunity,… …aiming for 1bn EUR in Booking Revenues by 2028/29 EUR million EUR million CAGR: 30-35% Total accommodation market >1.7tn EUR by 2030 CAGR: 55% Total accommodation market ~1tn EUR in 2021
Slide 18: …and how to get to 1bn EUR
…and how to get to 1bn EUR : GR CA 35% - 30 1,000 124 Booking Core Geographic Take Rate Subscription & Booking Revenues markets expansion expansion Services, payments Revenues 2021 (incl. US) & add-ons, M&A 2028/29 Market & share Partners Services of wallet growth 18 CMD 2022 - Financial Deep Dive
Slide 19: Attractive financial profile at scale
Attractive financial profile at scale Target margin Adj. EBITDA Long-term Key drivers In % of revenue FY/21 break-even ambition 2023 Scaling of payment solution to weigh on GPM, Gross margin 95.4% but driving revenue up Becoming travelers go_to destination for vacation Sales & Marketing (94.7%) rent
Slide 20: Key takeaways Financial Deep Dive
Key takeaways Financial Deep Dive We have delivered and scaled our business while 01 continuously improving our margins over time Higher marketing efficiency, driven by repeat customers, and other measures in place are set to 02 achieve Adjusted EBITDA break-even by FY/23 and to deliver profitable g
Slide 21: 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