Slide 1: Correction to 1H FY2023 investor presentation
Market release 24 November 2022 Correction to 1H FY2023 investor presentation For personal use only We refer to the 1H FY2023 investor presentation lodged on 23 November 2022. The second bullet point on slide 8 read: “Rooms booked on Booking.com for Business increased from 121,000 to 208,000.” This
Slide 2: Financial Results for the six months to 30 September 2022
For personal use only Financial Results for the six months to 30 September 2022 Investor Presentation 23 November 2022 [Re-released 24 November with correction on slide 8]
Slide 3: Disclaimer
Disclaimer For personal use only • This presentation has been prepared by Serko Limited. 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 informati
Slide 4: Contents
Contents For personal use only 1H FY23 Highlights Strategic Priorities Financial Update Outlook Darrin Grafton Shane Sampson CEO CFO SERKO • 3
Slide 5: 1H FY23 Highlights
For personal use only 1H FY23 Highlights SERKO • 4
Slide 6: Result reflects focus on recovery and growth
Result reflects focus on recovery and growth For personal use only • Benefits from the ongoing business travel recovery and from our investment decisions during the pandemic. • Total income and segment revenue both increased 106%. This was underpinned by the business travel 432% 75% ROOM NIGHTS ONLI
Slide 7: FY23: Focus on recovery and growth
FY23: Focus on recovery and growth Performance compared to six months to 30 September 2021 For personal use only REVENUE COSTS PROFIT (LOSS) BALANCE SHEET 106%• 106%• 70% $(19.7m) $102.9m• Total Segment Operating Net loss Cash income revenue expenses after tax on hand $19.4 $20.3m $42.3m $(16.9m) $3
Slide 8: Progress against our FY25 goals
Progress against our FY25 goals For personal use only 1 2 3 4 5 3yr Customer Unmanaged Managed Marketplace Culture Strategic success revenue revenue and content Develop a culture of Goals Deliver exceptional Establish significant Consistently grow Commercialise engaged Serkodians customer experience
Slide 9: Unmanaged revenue
2 Unmanaged revenue PHASE 1: MIGRATION PHASE 2: ACTIVATING PHASE 3: SCALING + ENGAGING Encouraging increase in completed bookings COMPLETE H2 FY22-FY23 FY23-FY24 For personal use only Booking.com for Business Completed Room Nights • Booking for Business completed room nights increased to 454,000 fro
Slide 10: Managed revenue
3 Managed revenue Continued strong demand for business travel For personal use only Australasia total bookings as % of pre-Covid-19* • For Australasia, average volume in the first quarter 180% was 91% of pre-COVID 19 levels and 93% in the 160% second quarter. 140% • In New Zealand, volumes at the en
Slide 11: Financial Update
For personal use only Financial Update Unaudited financial results for the six months to 30 September 2022 SERKO • 10
Slide 12: Net Profit Summary / EBITDAF Reconciliation
Net Profit Summary/ EBITDAF Reconciliation For personal use only Net Profit Summary FY23H1 FY22H1 change change FY22 • Total income for the half EBITDA Reconciliation 6 months 6 months Full Year #039;m #039;m #039;m % #039;m exceeded FY22 full year. • Operating expense growth was Revenue 18.8 8.7 10.1 115% 17.9
Slide 13: Revenue and Other Income
Revenue and Other Income FY23H1 FY22H1 change change FY22 Revenue Analysis by Type 6 months 6 months Full Year #039;m #039;m #039;m % #039;m For personal use only • Segment revenue is presented to provide Revenue – transaction and usage fees: visibility of both the underlying growth in Travel platform booking r
Slide 14: Operating Expenses
Operating Expenses Operating Expenses FY23H1 FY22H1 change change FY22 For personal use only 6 months 6 months Full Year • Higher transaction volumes drove increased sales #039;m #039;m #039;m % #039;m and marketing, and hosting expenses, however, these expenses fell as a percentage of revenue. • Remuneration a
Slide 15: Product Design and Development
Product Design and Development For personal use only Product Design and FY23H1 FY22H1 change change FY22 • Product design and development (PD&D) costs is a non-GAAP measure1 representing Development Expenditure 6 months 6 months Full Year the internal and external costs related to Reclassified² Recl
Slide 16: Balance Sheet
Balance Sheet For personal use only Balance Sheet FY23H1 FY22H1 change change FY22 • In the six months to 30 September 2022 6 months 6 months Full Year average monthly cash burn was $3.6m. #039;m #039;m #039;m % #039;m • Other current assets increased by 104% relative to 30 September 2021 primarily reflecting h
Slide 17: Outlook
For personal use only Outlook SERKO • 16
Slide 18: Outlook
Outlook For personal use only • Serko’s first half total income exceeded the full year to 31 March 2022 with a strong exit rate from the half. Serko notes that historically second half revenue is lower than the first half. • Serko is affirming its FY23 guidance of approximately doubling FY22 revenue
Slide 19: Q&A
For personal use only Financial Results for the six months to 30 September 2022 Investor Presentation 23 November 2022 Q&A SERKO • 18
Slide 20: Appendix
For personal use only Appendix SERKO • 19
Slide 21: Definitions
Definitions Non-GAAP (generally accepted accounting practices) financial measures do not have standardised meanings prescribed by GAAP and therefore may For personal use only not be comparable to similar financial information presented by other entities. Non-GAAP measures are used by management to m
Slide 22: Building sustainable long-term business growth
Building sustainable long-term business growth For personal use only We continue to enhance our environmental, social and governance program, with a focus on climate change reporting. Continuously innovating — to adapt to rapid environmental changes and We are currently preparing to meet the deliver
Slide 23: Serko at a glance
Founded SKO For personal use only 2007 ASX & NZSX c.500,000 330+ Employees worldwide SME Registered Companies 6,000+ 5 Offices Corporate customers New Zealand – USA Australia – China SERKO • 22
Slide 24: Thank you
For personal use only Thank you