HOLIDAYCHECK GROUP COMPANY PRESENTATION
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HOLIDAYCHECK GROUP
COMPANY PRESENTATION
Agenda
1 Who we are
2 Drivers of growth
3 Financials
4 Outlook
5 Appendix
2
Who we are
3
Our vision
We are the most Urlauber*-friendly company in the world!
Our
We make our Urlauber’s* experience better every day! mission
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
The HolidayCheck Group
Four leading portals with a strategic focus on local markets
DACH and BENELUX
We focus on secured relaxing holidays
DACH BENELUX
• HolidayCheck • Zoover
Hotel review and Hotel review platform
booking platform • Meteovista
• Driveboo Weather platform
Car rental comparison
Corporate Presentation 5
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
Our eco system: a unique combination of a platform & pipeline business Corporate Presentation 7
Traffic and usage of HolidayCheck
18.6 mn*
1.2mn
average
visits/month
reviews/year
6.6 mn**
Up to average
6,000
unique users/
month
reviews/day
2.7
9.5
mn
m community
n members
photos
& videos
*IVW: Ø Jan-Oct 2018;
Corporate Presentation ** AGOF digital facts: Ø Jan-Sep 2018 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* DACH EUR 45bn market segment for package and related*
100% 20 0,6
80%
15 9,0
60%
10 18,5
40%
5 4,8
20%
0% 0
9,0 3,0
Package holidays Short-trip, Wellness Rental homes
TTV in € bn Online penetration rate Cruise Packaged roundtrips Other
*gross revenue 2017; own estimate based on travel industry data *gross revenue 2017; own estimate based on travel industry data
Corporate Presentation 9
Drivers of growth
10Drivers 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 11Drivers 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 12Drivers of growth And we continuously deliver additional improvements… • New vacancy checks • Direct flight filter • Passion search • Empty offer list • Golden profile • … Corporate Presentation 13
Investment in brand marketing in 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 Q4 2018 and 2019
• Important note: Apples-to-apples comparison of brand marketing costs only
possible Q3, 2018 and beyond
Corporate Presentation 14Drivers 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 15Drivers 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 16Recognized as best in class – but never satisfied HOLIDAYCHECK MIETWAGENCHECK Corporate Presentation 17
Financials
18Overview 9M & Q3 2018: In line with our expectations Market development • Central-European package travel industry grew by approx. 5-10% • Online Travel (OTA) outperformed traditional channels Financials • HolidayCheck Group revenue up 16.3% YoY in 9M 2018, & up 11.3% YoY in Q3 • Development in Q3 2018: Football World Cup in July and hot weather throughout the quarter in Germany resulted in restrained bookings - all in line with our expectations • Operating EBITDA of EUR 10.5m in 9M 2018 (+ EUR 9.3m YoY) and EUR 2.8m in Q3 (+ EUR 4.0m YoY) • We reconfirm the upgraded financial guidance 2018 Corporate Presentation 19
Financials 9M & Q3 2018
In EUR million 9M 2018 9M 2017 Change in % / Q3 2018 Q3 2017 Change in % /
EUR million EUR million
Revenue 108.4 93.2 +16% / +15.2 35.6 32.0 +11% / +3.6
Marketing expenses -53.0 -48.2 +10% / +4.8 -18.2 -18.7 -3% / -0.5
Personnel expenses -29.2 -28.5 +3% / +0.7 -9.6 -9.1 +6% / +0.5
Other expenses -20.0 -20.2 -1% / -0.2 -6.4 -7.0 -9% / -0.6
EBITDA 9.8 -0.1 - / +9.9 2.6 -1.5 - / +4.1
EBITDA margin 9.0% -0.1% 7.3% -4.7%
Operating EBITDA 10.5 1.2 +>100% / +9.3 2.8 -1.2 - / +4.0
Operating EBITDA margin 9.7% 1.3% 7.9% -3.8%
Depreciation -4.9 -4.5 +9% / +0.4 -1.7 -1.5 +13% / +0.2
EBIT 4.9 -4.5 - / +9.4 0.9 -3.0 - / +3.9
EBIT margin 4.5% -4.8% 2.5% -9.4%
Financial result -0.1 -0.1 +/-0% / +/-0.0 0.0 0.0 +/-0%+/-0.0
EBT 4.8 -4.6 - / +9.4 0.8 -3.1 - / +3.9
EBT margin 4.4% -4.9% 2.2% -9.7%
Consolidated net result 3.5 -4.6 - / +8.1 0.5 -2.8 - / +3.3
EPS (in EUR) 0.06 -0.08 - / +0.14 0.01 -0.05 - / +0.06
Corporate Presentation 20Financials 9M & Q3 2018:
Quarterly revenue growth 2016 - 2018
In EUR million
+24.0%
+11.3%
+11.0% +13.4% +8.1%
41,4 +25.7%
+10.8%
35,6
33,4 32,0
30,1 31,4
29,6 28,4
27,7
25,0
22,6
Q1 Q2 Q3 Q4
2016 2017 2018
Corporate Presentation 21HolidayCheck Group is debt free
Equity ratio of 84% and net cash position of EUR 28m
Equity ratio vs. debt ratio 2015 – Q3 2018
in percent
100%
13.9 13.9 16.1
23.7
86.1 86.1 83.9
76.3
12/2015 12/2016 12/2017 09/2018
Equity ratio Debt ratio
Corporate Presentation 22Our guidance
We reconfirm our upgraded 2018 guidance:
• 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
• Continuous invest in people
• Convert a higher percentage of traffic to sales
Our long-term ambition:
• Sustainable double-digit growth
• Operating EBITDA margin of 15% (max.)
Corporate Presentation 23Outlook
24Outlook 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 25
Options for further growth within the relaxing holidays
market
HolidayCheck has room to grow beyond its current core market
Horizontal Adjacent markets with similar characteristics
expansion
• HolidayCheck has significant room to grow beyond its
current core market
Customization • 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 26Capital 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 • We apply the same • We expect investments
understand, with similar thresholds for M&A that to generate returns
characteristics we apply to organic higher than our cost of
• Vertical integration to investment capital after five years
offer own product • We do not seek to buy • Ability to leverage our
market share technology and expertise
Our long-term ambition:
A sustainable double-digit revenue growth and an operating EBITDA margin of 15% (max.)
Corporate Presentation 27THANK YOU FOR YOUR ATTENTION!
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