HOLIDAYCHECK GROUP COMPANY PRESENTATION

Transcription

1 HOLIDAYCHECK GROUP COMPANY PRESENTATION

2 Agenda Who we are Drivers of growth Financials Outlook Appendix 2

3 Who we are 3

4 Our vision We are the most Urlauber*-friendly company in the world! We make our Urlauber s* experience better every day! We offer the most trustworthy platform for holidays. With us Urlaubers find the perfect holiday in a fast, easy and inspiring way and can instantly book it! *German term for holidaymaker, vacationer Corporate Presentation 4 Our mission

5 The HolidayCheck Group Four leading portals with a strategic focus on local markets DACH and BENELUX We focus on secured relaxing holidays DACH HolidayCheck Hotel review and booking platform Driveboo Car rental comparison Corporate Presentation BENELUX Zoover Hotel review platform Meteovista Weather platform 5

6 Our eco system: a unique combination of a platform & pipeline business The successful combination of both platform and pipeline business is unique to HolidayCheck and provides a sustainable competitive advantage in the market Corporate Presentation 6

7 Our eco system: a unique combination of a platform & pipeline business Corporate Presentation 7

8 European package travel market Package travel is a multi-billion Euro market European package travel is a EUR 55bn market (of which DACH EUR 18.5bn) Including related fields, the DACH market is EUR 45bn Germany: 66% of German package travel bookings still offline Benelux: high online penetration and high market share of tour operators Market segment size and online penetration for package travel* 100% 80% 60% 40% 20% 0% DACH EUR 45bn market segment for package and related* 0,6 9,0 18,5 4,8 9,0 3,0 TTV in bn Online penetration rate *gross revenue 2017; own estimate based on travel industry data Corporate Presentation 8 Package holidays Short-trip, Wellness Rental homes Cruise Packaged roundtrips Other *gross revenue 2017; own estimate based on travel industry data

9 Drivers of growth 9

10 Drivers of growth New cruise platform live New cruise sector complements our existing portfolio very well Strong focus on booking your first cruise Combines the technical advantages of the internet with the personal touch of a travel agency There are 54,000 cruise-ship ratings and 130,000 passenger photographs on HolidayCheck In 2017, around two million Germans embarked on a cruise, totalling around EUR 4 billion Corporate Presentation 10

11 Drivers of growth Helping couples find the perfect vacation New couples trip finder: launched in February 2018 New standard for saving Urlaubers time Choices based on combination of user generated content and recommendations of our travel experts Introduced Echt-Preise based on actual bookings instead of showing ab-preise ( as low as ) Blueprint for all other parts of the HolidayCheck user experience Corporate Presentation 11

12 Drivers of growth And we continuously deliver additional improvements New vacancy checks Direct flight filter Passion search Empty offer list Golden profile Corporate Presentation 12

13 Investment in brand marketing in HY1, 2018 Brand marketing campaign to be continued Successful brand marketing campaign Buch Dein Ding! (Book it your way!) Successful brand campaign on selected TV stations, leading news portals, YouTube and outdoor advertising Goal: Strengthen brand awareness and draw particular attention on booking opportunity Campaign to be continued in HY2, 2018 Important note: Apples-to-apples comparison of brand marketing costs only possible Q3, 2018 and beyond Corporate Presentation 13

14 Drivers of growth Delivering superior, personal customer service It s one of our strategic pillars to connect real people with real people We invested in people and scalability Our service center with 150 skilled travel agents is a sales channel, not a call center Calls to our team result in higher average selling price vs. online Corporate Presentation 14

15 Drivers of growth The best team in the travel industry Attract the best Talents We don t just hire from the best travel companies, but the best companies anywhere Motivate Talents We have a system to make all our employees shareholders of HCG; company shares are part of the salary package Talent Investments 2017 step change investment into headcount in customer-facing service center, software developers and data science experts Going forward, no longer need to invest ahead of growth Corporate Presentation 15

16 Recognized as best in class but never satisfied HOLIDAYCHECK MIETWAGENCHECK Corporate Presentation 16

17 Financials 17

18 Overview HY1 2018: strong early booking season Market development Central-European package travel industry grew by approx. 5-10% Online Travel (OTA) outperformed traditional channels Financials HolidayCheck Group revenue up 19.0% yoy in HY Operating EBITDA of EUR 7.8m in HY (+212% yoy) Pleased with top line development making it through to our bottom line, despite re-initiated investments in brand marketing in HY Financial guidance upgraded Corporate Presentation 18

19 Financials HY1 and Q2: invest in brand marketing In EUR million HY HY Change in % / EUR million Q Q Change in % / EUR million Revenue % / % / +3.7 Marketing expenses % / % / +0.4 Personnel expenses % / /-0% / +/-0.0 Other expenses % / % / -0.5 EBITDA EBITDA margin % % +>100% / % % -/ +3.9 Operating EBITDA Operating EBITDA margin % % +>100% / % % -/ +3.5 Depreciation % / /-0% / +/-.00 EBIT EBIT margin % % - / % % -91% / -3.9 Financial result /-0% / +/ /-0%+/-0.0 EBT EBT margin / % % -91% / -3.9 Consolidated net result / % / -3.3 EPS (in EUR) / % / Corporate Presentation 19

20 Financials HY1 2018: Quarterly revenue growth In EUR million +24.0% +10.9% 41, % +13.4% +8.2% +25.6% 30,1 33,4 25,0 27,7 31,4 29,6 32,0 22,6 28,4 Q1 Q2 Q3 Q Corporate Presentation 20

21 HolidayCheck Group is debt free Equity ratio of 83% and net cash position of EUR 25m Equity ratio vs. debt ratio 2013 Q in percent % / / / / / /2018 Equity ratio Debt ratio Corporate Presentation 21

22 Upgraded financial guidance Our new guidance 2018: 10 to 14% growth in revenues (old: 8 to 13%) Hence op. EBITDA EUR 7.0 million to EUR 10.0 million (old: EUR 2.5 million to 6.5 million) Brand campaign continues Convert a higher percentage of traffic to sales Focus on marketing efficiency Corporate Presentation 22

23 Outlook 23

24 Outlook 2018: Our vision & mission remain unchanged Our vision: We are the most Urlauber*-friendly company in the world Our mission: We make our Urlauber s experience better every day! * Urlauber [uːɐlaʊbɐ] is the German term for vacationer, holiday-maker Corporate Presentation 24

25 Outlook 2018: The year of differentiation Delivery Transformation Differentiation Leverage 2020 Diversify Strategic areas of development Marketing Efficiency Customer Experience Team Quality Tech Excellence Corporate Presentation 25

26 Options for further growth within the relaxing holidays market HolidayCheck has room to grow beyond its current core market Horizontal expansion Customization Adjacent markets with similar characteristics HolidayCheck has significant room to grow beyond its current core market We have made a successful first move into adjacent markets through our cruise portal launched in 2018 Integration of an own tour operator could be considered HolidayCheck model: make it work, then scale it up Corporate Presentation 26

27 Capital allocation framework & long-term ambition We continue to prudently re-invest HolidayCheck is a growth company, and we continue to re-invest into growth opportunities. Prudent capital allocation policy and intention to maintain a healthy balance sheet. 1 Focus 2 Buy or build 3 RoI Adjacent fields we fully understand, with similar characteristics Vertical integration to offer own product We apply the same thresholds for M&A that we apply to organic investment We do not seek to buy market share We expect investments to generate returns higher than our cost of capital after five years Ability to leverage our technology and expertise Our long-term ambition: A sustainable double-digit revenue growth and an operating EBITDA margin of 15% (max.) Corporate Presentation 27

28 Appendix 28

29 Our unique DNA allows us to focus on local unserved customer needs: trust & convenience Today booking a package holiday online is still way too complex There is a lack of convenience as well as and a lack of trust into online players. 2/3 of all vacation packages in DACH are booked offline We aim to change that! Both HolidayCheck and Zoover were founded as hotel review portals Both are local champions in their market Therefore it s in our DNA to create transparency first, and connect Urlaubers* with Urlaubers in order to find the perfect holiday Therefore we are always on the side of the Urlaubers Corporate Presentation 29 *German term for holidaymaker, vacationer

30 Our focus on secured relaxing holidays allows us to deliver to specific local customer needs Therefore we focus on secured relaxing holidays (warm water short-haul) Therefore we focus on our customers from DACH, Benelux & Poland Therefore our target group is customers who wish to know what to expect on their holiday We have a focus on predictable travel e.g. Package travel Corporate Presentation 30 *German term for holidaymaker, vacationer

31 Review of 2017 Focus Topics: Delivered on all key milestones Improve product and data experience e.g. Passion search, new vacancy checks, direct flight filter Improve quality of data & content Golden profile Passion search Strengthen brand awareness Successful brand marketing campaign Scale service center New products New cruise platform New couples trip finder Corporate Presentation 31

32 Financials 2017: Invest in brand marketing and new hires In EUR million Change in % / EUR million Revenue % / Marketing expenses % / +6.7 Personnel expenses % / +5.6 EBITDA EBITDA margin % % -2.6 Operating EBITDA Operating EBITDA margin % % -41% / -1.1 Depreciation % / +0.1 EBIT EBIT margin % % +90% / -2.7 Financial result EBT EBT margin % % >100% / -3.1 Consolidated net result of continued operations >100% / -3.8 Consolidated net result >100% / -3.0 EPS of continued operations (in EUR) EPS (in EUR) Corporate Presentation 32

33 Share data Segment Prime Standard ISIN DE Security ID number Management; 0,70% Treasury shares; 2,20% Free float; 40,10% Symbol Type of stock HOC No-par-value bearer shares Burda Digital; 57,00% Current share capital EUR 58,313,628 subdivided into 58,313,628 shares Corporate Presentation 33

34 Financial calendar 2018* Oct 10/10 Roadshow Amsterdam + Brussels 10/15 Roadshow London 10/24 Roadshow Zurich Nov 11/08 Interim statement Q Nov 11/26 German Equity Forum Frankfurt, Germany *Provisional dates Corporate Presentation 34

35 Contact Georg Hesse CEO Markus Scheuermann CFO Nate Glissmeyer CPO/CTO Armin Blohmann Director Group Comm. & Investor Relations HolidayCheck Corporate Presentation 35

36 Disclaimer This presentation contains 'forward looking statements' regarding HolidayCheck Group AG, including opinions, estimates and projections regarding HolidayCheck Group AG s financial position, business strategy, plans and objectives of management and future operations. Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of HolidayCheck Group AG to be materially different from future results, performance or achievements expressed or implied by such forward looking statements. These forward looking statements speak only as of the date of this presentation and are based on numerous assumptions which may or may not prove to be correct. No representation or warranty, express or implied, is made by HolidayCheck Group AG with respect to the fairness, completeness, correctness, reasonableness or accuracy of any information and opinions contained herein. The information in this presentation is subject to change without notice, it maybeincompleteorcondensed, anditmaynotcontainallmaterialinformation concerning HolidayCheck Group AG. HolidayCheck Group undertakes no obligation to publicly update or revise any forward looking statements or other information stated herein, whether asaresultof new information, future events or otherwise. Corporate Presentation 36