Yatra Online Limited · NSE:YATRA
Yatra Online — Sidoti & Co Fall 2020 Virtual Investor Conference
21 slides from Yatra Online's conference presentation, September 2020
Slide 1: September 2020
November 2016 September 2020 PAGE 0
Slide 2: Disclaimer
Disclaimer This presentation is for informational purposes only and does not constitute an offer to sell, a solicitation of any offer to buy, or a recommendation to purchase any securities of or any of its affiliates (as such term is defined under the U.S. federal securities laws). The presentation
Slide 3: Key Highlights
Key Highlights q Yatra is one of the most well recognized “home-grown” Indian Internet brands and the largest Corporate Travel Services provider in India. q Yatra remains well-positioned to benefit from India’s massive and growing travel market that is quickly moving online q We have a differentiate
Slide 4: Yatra – A Comprehensive Online Travel Platform
Yatra – A Comprehensive Online Travel Platform We are one of the largest B2C OTAs and the leader in corporate travel1 in India Gross Bookings2 Adjusted Revenue 2,3 (INR billion) (INR million) 111.2 8,911 Decline by CAGR Decline by CAGR 24% 13.5 23% YoY 28% 1,323 33% YoY 92.5 85.3 7,408 13.4 697 7.9
Slide 5: Our Differentiated Go-To-Market Strategy
Our Differentiated Go-To-Market Strategy While other Indian OTAs focus mainly on the B2C segment, we deliver a full suite of leisure and corporate offering that enables us to target travelers holistically The Platform 1 B2C 2 B2E 3 B2B Focus on the “right demographics” Leverage our platform to profi
Slide 6: Increase in Capacity and Airport Infrastructure to fuel Air Passenger Traffic Growth
Increase in Capacity and Airport Infrastructure to fuel Air Passenger Traffic Growth At 140 million Passengers India is ranked 5th Globally India’s air passenger traffic expected to grow 6x by 2040. 849 303 271 244 218 551 194 171 150 130 94 112 739 821 65 79 526 595 665 154 152 140 124 117 268 327
Slide 7: Corporate travel market in India is ~INR 2,150 Bn (~$32Bn)
Corporate travel market in India is ~INR 2,150 Bn (~$32Bn) and was growing at 12% CAGR Pre-Covid India Corp Travel Market Gross Bookings (INR billion)1 Market split by product1 Margin % 3,430 CAGR:12% 5- Others >10% 3,050 ($51Bn) 10% 2,690 25- 2,360 35% 2,150 Hotels 5-12% ($32Bn) 50- 60% Air 4-6% 20
Slide 8: Highly fragmented market shifting towards online & organized segment
Highly fragmented market shifting towards online & organized segment – Top 13k companies account for 28% of volume Corporate Travel Market – Travel Spend >INR 10 mil1 Corporate Travel Market – Type of Player ~INR 2,150 Bn ~INR 650 Bn (%) ($9.5Bn) Major Players ($32Bn) Industry – Travel spend % of re
Slide 9: Our Differentiated Approach – A Common Platform
Our Differentiated Approach – A Common Platform Seamlessly Linking All Channels, Products, and Customers Rewards program connecting business and leisure travelers Multi-channel Complete customer access offerings Direct-to-consumer Air “B2C” 7 Domestic carriers ~212m visits1 ; 400+ International carr
Slide 10: Choice – We Have a Differentiated Strategy in Hotels
Choice – We Have a Differentiated Strategy in Hotels We believe Yatra has India’s largest hotel inventory, especially in the key “budget” category in Tier 2 and Tier 3 cities Yatra’s 102k+ units by market segment1,2,3 Key elements of Yatra’s hotel strategy l Target segment: Focus on Tier 2 and Tier
Slide 11: Yatra for Business – Largest Corporate Travel Platform in India
Yatra for Business – Largest Corporate Travel Platform in India l Over 13,000 large corporations Large Market l Over 100,000 SMEs Opportunity l 60%+ of India’s travel spend l Largest player in the country Market Leader l Over 700+ large corporate customers1 l More than 38,000 SME customers as on 31
Slide 12: The Path Forward – Investing in Sustainable Growth
The Path Forward – Investing in Sustainable Growth Technology Brand l Voice enabled booking l Further strengthen brand, l AI based tools for customer especially in Tier 2,Tier 3 cities service l Promote ‘Yatra for Business’ l Corporate self booking platform brand l Drive high quality app downloads l
Slide 13: FY20 Highlights- QoQ and YoY
FY20 Highlights- QoQ and YoY Adj. Revenue/ Adj. EBITDA (USD mn) 117.9 79.2 24.8 21.5 22.2 15.4 2.9 Jun-19 Sep-19 Dec-19 Ma r-20 FY19 FY20 (1.6) (0.8) (0.8) (16.3) (3.0) Adj. revenue Adj. EBITDA q Over the last 18 months, we have undertaken significant cost cuts to improve efficiency and attain profi
Slide 14: Change in business mix and marketing efficiency driving operating leverage
Change in business mix and marketing efficiency driving operating leverage Major operating expenses (INR Million, % of Adjusted Revenue) FY19 vs FY20 Adjusted EBITDA Improvement: 90% (Loss)/Profit – INR Million (1,228) (122) Improvement: 85% Adjusted EBITDA Margin (13.8%) (2.0%) 34% 11% 25% 13% 49%
Slide 15: Yatra Measures Taken Post COVID-19
Yatra Measures Taken Post COVID-19 Fixed Costs Trajectory In US$Millions Fixed Costs from April 2020 onwards reduced $4.0 $3.8 $3.5 significantly to US$1.2M/month from $3.0 $2.7 US$2.7M/month in March 2020. $2.5 $2.0 $1.5 $1.2 Reduced Management salaries by 50% and $1.0 $0.5 variable reduction in sa
Slide 16: Liquidity Profile
Liquidity Profile As of August 31th, 2020, our total Cash Balance was approximately US$33.7M, including restricted cash of approximately US$7.7M. Our Total Outstanding Debt was US$2.2M. Our fixed costs are currently approximately US$1.2M per month. We believe we have adequate liquidity to weather an
Slide 17: In Conclusion – Why Yatra (YTRA)?
In Conclusion – Why Yatra (YTRA)? Leading Corporate Travel Services Provider in India (700+ large customers) targeting a TAM of $32B growing at a 12% CAGR pre-COVID. High Corporate customer retention and renewal rates. Second largest Consumer OTA in India with a widely recognized Indian consumer bra
Slide 18: Appendix
Appendix
Slide 19: Basis of Financial Presentation and Use of Non-IFRS Measures
Basis of Financial Presentation and Use of Non-IFRS Measures The historical financial information regarding Yatra included in this investor presentation reflects Yatra’s fiscal year end of March 31, and has been derived from audited financial statements of Yatra and its subsidiaries that were prepar
Slide 20: Reconciliation of Non-IFRS Measures- Adjusted Revenue
Reconciliation of Non-IFRS Measures- Adjusted Revenue Air ticketing Amount in INR million Fiscal Year Ended Mar’31 2017 2018 2019 2020 Revenue 3,657 5,013 3,449 2,610 Customer promotional expenses - - 2,259 1,348 Service cost - - - - Adjusted Revenue 3,657 5,013 5,708 3,958 Hotel and Packages Revenu
Slide 21: Reconciliation of Non-IFRS Measures- Adjusted EBITDA (Loss)
Reconciliation of Non-IFRS Measures- Adjusted EBITDA (Loss)1 INR million FY17 FY18 FY19 FY20 Profit/(loss) for the period as per IFRS (5,937) (4,052) (1,194) (840) Employee share-based compensation costs 587 730 283 5 Depreciation and Amortization 276 426 582 666 Share of loss of joint venture 9 11
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