HomeToGo SE · XETR:HTG
HomeToGo — FY2021 Earnings Presentation
38 slides from HomeToGo's earnings presentation, Mar 31, 2022
Slide 1: FY/21 Earnings Call
FY/21 Earnings Call Dr. Patrick Andrae, Co-founder & CEO Steffen Schneider, CFO March 31st, 2022
Slide 2: In 2021, we made strong progress on our strategic agenda and delivered strong financial results
In 2021, we made strong progress on our strategic agenda and delivered strong financial results Make incredible homes easily accessible: With increased relevance to our customers (site visits growth of +20% YoY) and access to more than 15m+ offers across 31k+ partners Our partners increasingly list
Slide 3: Business & Strategy Update
Business & Strategy Update Dr. Patrick Andrae, Co-Founder & CEO
Slide 4: Our Vision: making incredible homes easily accessible to everyone
Our Vision: making incredible homes easily accessible to everyone
Slide 5: Alternative Accommodation as the new zeitgeist: long-term growth opportunity ahead
Alternative Accommodation as the new zeitgeist: long-term growth opportunity ahead We are targeting a huge market opportunity1,… …aiming for 1bn EUR in Booking Revenues by 2028/29 in tn EUR GBV in mn EUR CAGR: 30-35% Total accomodation market >1.7tn EUR 2018 2019 2020 2021 2028/29 >0.5% Grow multipl
Slide 6: In 2021, we delivered on our ambitious growth targets
In 2021, we delivered on our ambitious growth targets Site Visits Booking Revenues App & Mobile in mn # in m EUR Booking Revenues in % of total Booking Revenues Highest absolute increase in Booking Revenues ever 124 ~40% 375 ~39% 321 296 80 82 ~31% 2019 2020 2021 2019 2020 2021 2019 2020 2021 CONFID
Slide 7: We are taking decisive and transformative steps to enable our future growth
We are taking decisive and transformative steps to enable our future growth 1 2 3 Travelers Supply Technology Creating an unparalleled Growing our global footprint Developing new solutions to experience to drive return and scaling diversified supply enable growth for the entire demand through target
Slide 8: For travelers, we aim to become the go-to destination for vacation rentals
For travelers, we aim to become the 1 go-to destination for vacation rentals We provide travelers a desirable, most comprehensive and highly curated selection of vacation rentals paving the way to become the go-to destination for vacation rentals. World’s largest selection of vacation rentals Highly
Slide 9: Three key USPs driving customer demand
1 Three key USPs driving customer demand Unmatched choice Relevant Smart and personalized consumer brand customer experience 15m+ ~50m 100+ A/B tests offers from monthly visits2 in production at same time 31k+ partners1 driving consistent innovation World’s largest selection Helping our customers at
Slide 10: Our partners increasingly opt for listing onsite, boosting our CPA onsite share
2 Our partners increasingly opt for listing onsite, boosting our CPA onsite share Onsite Share More active management of onsite1 in % of Booking Revenues2 1 business Constant enhancements of digital 2 experience invites more partners to list 44% their offers directly onsite Average 3 100% of the las
Slide 11: We are building the right tools to help suppliers tackle their complex challenges
3 We are building the right tools to help suppliers to tackle their complex challenges while growing their business Fast & easy access Wealth of features & Shopify-like all-in-one Highly adaptable & infrastructure software solution for flexible ...to a huge market and homeowners is scaling ...with (
Slide 12: We are distinctly positioned to capitalize on this tremendous growth opportunity
We are distinctly positioned to capitalize on this tremendous growth opportunity Traveler Reach & Engagement Highly Strong Partnerships scalable Technology & Data Focus on organic growth, supported by targeted M&A CONFIDENTIAL 12
Slide 13: Acquisition of e-domizil GmbH, a highly complementary platform
Acquisition of e-domizil GmbH, a highly complementary platform that enhances our ecosystem High synergy potential E-domizil GmbH with leading presence in Germany and Switzerland and strong relationships with property managers Strong top-line growth in FY/21 with potential to sustain high growth beyo
Slide 14: With the acquisition of e-domizil GmbH we are further strengthening our onsite business
With the acquisition of e-domizil GmbH we are further strengthening our onsite business Localized domains in ~200m EUR >20m EUR 14 countries GBV in FY/21 IFRS Revenues in FY/21 Up to 100% >370k+ 2.5m Onsite GBV Listed offers Monthly Visits >100 4.78 of 5.001 EBITDA Customer Employees Positive in FY/
Slide 15: Financial Performance Update
Financial Performance Update Steffen Schneider, CFO
Slide 16: 2021 has been a tremendous success with record Booking Revenues
2021 has been a tremendous success with record Booking Revenues in a challenging environment for travel and leisure businesses GBV in EUR Booking Revenues in EUR IFRS Revenues in EUR Adjusted EBITDA1 in EUR 1.4bn 124m 95m (21)m +15% YoY +17% Yo2Y +51% YoY +55% Yo2Y +43% YoY +36% Yo2Y -22.2% adj. EBI
Slide 17: Increased GBV fueled by strong onsite business and Basket Size increase
Increased GBV fueled by strong onsite business and Basket Size increase Full Year Performance Q4 Performance € million € million +17% +15% y/y change y/y change in CPA-GBV +16% +53% in CPA-GBV FY21 vs. FY19: Q4/21 vs. Q4/19: +37% +22% FY21 vs. FY20: Q4/21 vs. Q4/20: +29% +54% CONFIDENTIAL CPA GBV Es
Slide 18: Average Basket Size increase driven by destination mix and length of stay
Average Basket Size increase driven by destination mix and length of stay 12M rolling average Basket Size In € FY 2021 avg. Basket Size: 1 252€ FY 2020 avg. Basket Size: 1 002€ 18
Slide 19: Take Rate driven by high share of onsite and CPC
Take Rate driven by high share of onsite and CPC Take Rate In % Overall Take Rate Guidance 2021A: >7.2% 2022E: > 8.0% (1) Take Rate is defined as Booking Revenues divided by Gross Booking Value (excl. Hotels, Feries, Escapada Rural & Smoobu) 19
Slide 20: Record Booking Revenues driven by steep increase of share of onsite transactions
Record Booking Revenues driven by steep increase of share of onsite transactions and Subscriptions & Services Full Year Performance Q4 Performance € million € million y/y change y/y change +55% +51% in Onsite +66% +109% in Onsite FY21 vs. FY19: Q4/21 vs. Q4/19: +151% +128% FY21 vs. FY20: Q4/21 vs. Q
Slide 21: Core growth KPIs trend into the right direction
Core growth KPIs trend into the right direction Onsite Share Europe Onsite Share North America # of Onsite Bookings % of Booking Revenues1 % of Booking Revenues ‘000 of Bookings 12pp 6pp 11pp 83% 6pp 1pp 28% 6pp 3pp 13pp 8pp 201% 1pp -32% 1) Booking Revenues net of Subscription & Services revenues 2
Slide 22: Strong 2021 IFRS Revenues growth fueled by shift to onsite
Strong 2021 IFRS Revenues growth fueled by shift to onsite Full Year Performance Q4 Performance € million € million y/y change y/y change +36% +44% in Onsite +120% +150% in Onsite FY/21 vs. FY/19: Q4/21 vs. Q4/19: +83% +351% FY/21 vs. FY/20: Q4/21 vs. Q4/20: +119% +370% 22
Slide 23: Increased growth investments weighed on Adj. EBITDA, yet improved profitability in Q4/21
Increased growth investments to capture full-demand potential weighed on Adj. EBITDA, yet improved profitability in Q4/21 Full Year Performance Q4 Performance € million € million -86.6% -82.9% -20.9% -23.0% -4.2% -22.2% (2.8) (10) (5.4) (16.0) (6.7) (8.4) (11) Adj. EBITDA1 H1/21 Marketing (21) Push2
Slide 24: Increase in 2021 marketing spend drove FY profitability lower
Increase in 2021 marketing spend drove FY profitability lower Costs and margins1 FY Q4 (in % of revenues) 2019 2020 2021 Delta 2020 2021 Delta Cost of sales (5.8%) (4.2%) (4.6%) 0.4pp (8.7%) (6.2%) 2.5pp Gross profit 94.2% 95.8% 95.4% (0.4pp) 91.3% 93.8% 2.5pp Deliberate marketing Sales & Marketing
Slide 25: Thanks to our strong cash-position we can invest through-cycle
Thanks to our strong cash-position we are in the comfortable position to invest through-cycle 308 (43) 253 (4) (8) (100) 153 Q3/21 Operating CF Investing CF2 Other Q4/21 Money Market Cash & cash Liquidity1 changes3 Liquidity1 Funds equivalents Free cash flow: (47)m EUR Q4/21 (1) Both Q3/21 and Q4/21
Slide 26: Outlook 2022
Outlook 2022
Slide 27: For 2022, we aim to continue to grow while investing in customer and partner experience
For 2022, we aim to continue to grow while investing in elevating our customer and partner experience IFRS Revenues Adjusted EBITDA1 +27% – +32% (20%) – (29%) margin 120–125m EUR (25)–(35)m EUR Guidance does not include CONFIDENTIAL 1) Adjusted for expenses for share-based payments and one-off items
Slide 28: 2022 is off to a great start with record Booking Revenues in Q1
2022 is off to a great start with record Booking Revenues in Q1 28
Slide 29: Q&A
home to go_ Q&A
Slide 30: Appendix
home to go_ Appendix
Slide 31: GBV to IFRS Revenue Bridge
GBV to IFRS Revenue Bridge KPI GBV to IFRS Revenues Bridge (in EUR) 2018 2019 2020 2021 GBV (in bn) 1.0 1.2 1.2 1.4 Take Rate (in %) 5.9% 6.2% 6.4% 8.4% Booking Revenues (in mn) 60 80 82 124 Cancellations (in mn) (4) (7) (19) (25) Bookings with check-in different (5) (3) 3 (4) reporting period (in m
Slide 32: Consolidated Statements of Profit or Loss
Consolidated Statements of Profit or Loss Consolidated Statements of Profit or Loss including Adjusted EBITDA reconciliation in € thousand 2021 2020 Revenue 94,839 65,855 Cost of revenues (4,336) (2,792) Gross profit 90,503 63,063 Product development and operations (23,726) (15,275) Marketing and sa
Slide 33: Consolidated Statements of Financial Position
Consolidated Statements of Financial Position Assets in € thousand Dec 31, 2021 Dec 31, 2020 Intangible assets 61,360 41,570 Property, plant and equipment 15,202 16,413 Trade and other receivables (non-current) 814 1,414 Income tax receivables (non-current) 79 34 Other financial assets (non-current)
Slide 34: Consolidated Statements of Cash Flow
Consolidated Statements of Cash Flow in € thousand 2021 2020 Profit (loss) before income tax (166,587) (25,122) Adjustments for: Depreciation and amortization 4,690 3,608 Non-cash listing service expense - de-SPAC Charge 70,437 - Non-cash employee benefits expense - share-based payments 31,560 11,18
Slide 35: The HomeToGo Share
The HomeToGo Share Shareholder Structure Share Information Treasury Shares: 8.1% Type of Shares Class A Shares (Public Shares) Insight: 17.9% and Class B Shares (Founder Shares) Others: 30.6% Stock Exchange Frankfurt Stock Exchange Market Segment Regulated Market (General Standard) Klaus Hommels2: 1
Slide 36: Upcoming events
Upcoming events Date Event Tuesday-Friday, May 3-6 Goldman Sachs Small- & Mid-Cap Symposium Tuesday, May 17 Q1/2022 Results Wednesday/Thursday, May 18+19 Handelsblatt CFO Summit Monday, May 23 Equity Forum - German Spring Conference Tuesday, May 24 Annual General Meeting Wednesday, May 25 dbAccess M
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Slide 38: 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