HolidayCheck Group presentation final results HY1 & Q2 2019€¦ · Final Results HY1 & Q2 2019 21...

Final Results HY1 & Q2 2019Georg Hesse, Nate Glissmeyer & Markus Scheuermann

8 August 2019

Overview HY1 & Q2 2019

Financials HY1 & Q2 2019

Core activities HY1 & Q2 2019

Outlook 2019

Appendix

Agenda

12345

2

1. Overview HY1 & Q2 2019

3

Final Results HY1 & Q2 2019 4

1. Overview HY1 & Q2 2019: Travel industry faced some headwinds

Market segment development• Central-European package travel industry weaker than in HY1 2019 (-2%

according to GfK)• Online Travel (OTA) slightly outperformed traditional channels • After a weak early booking season, we saw an encouraging last-minute season in

June and July• Own tour operator ‘HolidayCheck Reisen’ started to sell first package holidays in

Q2; still in rollout phase

Financials• HolidayCheck Group revenue up 3% in HY1 2019 and 4% in Q2, despite adverse

market segment development and strong yoy growth in HY1 2018 of +19%• Operating EBITDA of EUR 5.8 million in HY1 2019 (EUR -2.0 million yoy) and EUR

1.5 million in Q2 2019 (EUR -0.1 million yoy) • Operating EBITDA in line with expectations, including planned investments in

cruise and own tour operator• Narrowed full-year guidance to 7 - 9% revenue growth and operating EBITDA of

EUR 8.5 – 11.5 million

2. Financials HY1 & Q2 2019

5

2. Financials HY1 & Q2 2019*


In EUR million HY1 2019 HY1 2018 Change in % / EUR million

Q2 2019 Q2 2018 Change in % / EUR million

Revenue 74.9 72.8 +3% / +2.1 32.7 31.4 +4% / +1.3

Marketing expenses -37.5 -34.8 +8% / +2.7 -16.3 -15.0 +9% / +1.3

Personnel expenses -21.0 -19.6 +7% / +1.4 -10.3 -9.9 +4% / +0.4

Other expenses -13.3 -13.5 -2% / -0.2 -6.0 -6.4 -6% / -0.4

EBITDAEBITDA margin

5.37.1%

7.29.9%

-26% / -1.9 1.34.0%

1.23.8%

+8% / +0.1

Operating EBITDAOperating EBITDA margin

5.87.7%

7.810.7%

-26% / -2.0 1.54.6%

1.65.0%

-6% / -0.1

Depreciation -5.0 -3.2 +56% / +1.8 -2.6 -1.6 +63% / +1.0

EBITEBIT margin

0.30.4%

4.15.6%

-93% / -3.8 -1.3-4.0%

-0.4-1.3%

>100% / +0.9

Financial result -0.2 -0.1 +100% / -0.1 -0.1 0,0 - / -0.1

EBTEBT margin

0.20.3%

4.05.5%

-95% / -3.8 -1.4-4.3%

-0.4-1.3%

>100% / +1.0

Consolidated net result -0.5 3.0 - / -3.5 -1.5 -0.4 >100% / +1.1

EPS (in EUR) -0.01 0.05 - / -0.06 -0.03 -0.01 >100% / +0.02

* Other expenses and EBITDA were positively affected by IFRS 16 effect of EUR +1.3 million in HY1 2019 and EUR 0.7 million in Q2 2019, whereas Depreciation was negatively affected

32.7

2. Financials HY1 & Q2 2019

In EUR million


Slight, yet continued revenue growth despite strong 2018 comparison

29.632.0

Q2

30.1

Q1 Q3

27.7

Q4

35.633.4

24.9

30.531.4

22.7

28.4

41.411%

2016 20182017 2019

42.2

24%2%

11%

13% 8%11%

25%7%

4%

3. Core activities HY1 & Q2 2019

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3. Core activities HY1 & Q2 2019


• Tour Operator• Brand name: HolidayCheck Reisen• First package holidays sold; still in rollout phase• Onboarding of new partners, e.g. ‚hotelbeds‘

• Cruise• Took checkout experience in-house for greater

quality and flexibility• Own Service Center is live

• Service Center• Service Center hours extended and access to chat

expanded

4. Outlook 2019

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We are the most Urlauber*-friendly company in the world!Our vision

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!

Our mission

*German term for holidaymaker, vacationer

4. Outlook 2019:Growth options within the relaxing holidays market


Urlauber-friendliness

Tour Operator

Community Expert Advice Artificial Intelligence

ShortTrips

PackageHolidays

CruisePackagedRound-

tripsHotelOnly

RentalHomes

Based on expertise in our core segment, further market segments can be tackled in the mid- to long-term


4. Outlook 2019+Continue profitable growth of core business and investments in long-term growth to deliver on our vision

• Invest in product to drive loyaltyContinue to invest in product development to improveUrlauber-experience

• Invest in the best teamHR initiatives resulted in culture that attracts talent. We foresee hiring top tech talent in 2019 to remain strong

• Set Long Term SeedsEstablishing own Tour Operator to improve inventory. First packages sold in Q2 2019.


4. Outlook 2019We narrowed our guidance 2019:

• 7 to 9% growth in (net) revenues (before: 7 to 12%)• Hence op. EBITDA EUR 8.5 million to EUR 11.5 million

(before: EUR 8.5 to 13.5 million), thereof EUR 2.5 millionpositive IFRS 16 impact

• Invest in future growth: further improvements in package holidays, building out our own tour operator, expansion of cruise platform, improve customer loyalty

• Brand campaign continues• Continuous invest in people• Focus: Convert a higher percentage of traffic to sales• So far, weak industry development in HY1, but also

encouraging last-minute season in June and July

Our long-term ambition:• Sustainable double-digit growth• Operating EBITDA margin of 15%

Thank you for yourattention!


Appendix

Our eco system: a unique combination of a platform & pipelinebusiness


European package travel market segment


Package travel is a multi-billion Euro market with relatively low online penetration

• 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

DACH EUR 45bn market segment for package and related*Market segment size and online penetration for package travel*

0%

20%

40%

60%

80%

100%

0

5

10

15

20

TTV in € bn Online penetration rate in %*gross revenue 2017; own estimate based on travel industry data

18,5

3,09,0

4,8

9,0

0,6

Package holidays Short-trip, Wellness Rental homesCruise Packaged roundtrips Other

*gross revenue 2017; own estimate based on travel industry data

Financial calendar 2019*

Company presentation 19

SepSep09/24 GoldmanSachs & Berenberg German Corp. Conf.

NovNov11/08 Interim report Q1-3 2019

NovNov11/27 German Equity Forum 2019 – Frankfurt, Germany

*Provisional dates

www.holidaycheckgroup.com HolidayCheck Group @HolidayCheckGrp

Contact

Georg HesseCEO

+49 89 357 680 [email protected]

20

Nate GlissmeyerCPO/CTO


Armin BlohmannDirector Group Comm. & Investor Relations


Final Results HY1 & Q2 2019

Markus ScheuermannCFO


Disclaimer


This presentation contains 'forward looking statements' regarding HolidayCheck Group AG, including opinions, estimates and projections regarding HolidayCheckGroup AG’s financial position, business strategy, plans and objectives of management and future operations. Such forward looking statements involve known andunknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of HolidayCheck Group AG to bematerially 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 becorrect.No representation or warranty, express or implied, is made by HolidayCheck Group AG with respect to the fairness, completeness, correctness, reasonableness oraccuracy of any information and opinions contained herein.The information in this presentation is subject to change without notice, it may be incomplete or condensed, and it may not contain all material informationconcerning HolidayCheck Group AG.HolidayCheck Group undertakes no obligation to publicly update or revise any forward looking statements or other information stated herein, whether as a resultof new information, future events or otherwise.

HolidayCheck Group presentation final results HY1 & Q2 2019€¦ · Final Results HY1 & Q2 2019 21...

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