HOLIDAYCHECK GROUP COMPANY PRESENTATION - HolidayCheck Group AG
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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 mission
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
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
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
18
80% 16
14 9,0
60% 12
10 18,5
40% 8
6 4,8
20% 4
2
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 8
Drivers of growth
9
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 10Drivers 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 11Drivers of growth And we continuously deliver additional improvements… • New vacancy checks • Direct flight filter • Passion search • Empty offer list • Golden profile • … Corporate Presentation 12
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 13Drivers 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 14Drivers 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 15Recognized as best in class – but never satisfied HOLIDAYCHECK MIETWAGENCHECK Corporate Presentation 16
Financials
17Overview 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 HY1 2018 • Operating EBITDA of EUR 7.8m in HY1 2018 (+212% yoy) • Pleased with top line development making it through to our bottom line, despite re-initiated investments in brand marketing in HY1 2018 • Financial guidance upgraded Corporate Presentation 18
Financials HY1 and Q2: invest in brand marketing
In EUR million HY1 2018 HY1 2017 Change in % / Q2 2018 Q2 2017 Change in % /
EUR million EUR million
Revenue 72.8 61.2 +19% / +11.6 31.4 27.7 +13% / +3.7
Marketing expenses -34.8 -29.5 +18% / +5.3 -15.0 -14.6 +3% / +0.4
Personnel expenses -19.6 -19.4 +1% / +0.2 -9.9 -9.9 +/-0% / +/-0.0
Other expenses -13.5 -13.2 +2% / +0.3 -6.4 -6.9 -7% / -0.5
EBITDA 7.2 1.5 +>100% / +5.7 1.2 -2.7 - / +3.9
EBITDA margin 9.9% 2.5% 3.8% -9.7%
Operating EBITDA 7.8 2.5 +>100% / +5.3 1.6 -1.9 - / +3.5
Operating EBITDA margin 10.7% 4.1% 5.1% -6.9%
Depreciation -3.1 -3.0 +7% / +0.2 -1.6 -1.6 +/-0% / +/-.00
EBIT 4.1 -1.5 - / +5.5 -0.4 -4.3 -91% / -3.9
EBIT margin 5.5% -2.5% -1.3% -15.5%
Financial result -0.1 -0.1 +/-0% / +/-0.0 0.0 0.0 +/-0%+/-0.0
EBT -0.4 -4.3 -91% / -3.9
4.0 -1.6 - / +5.6
EBT margin -1.3% -15.5%
Consolidated net result 3.0 -1.8 -/ +4.8 -0.4 -3.7 -89% / -3.3
EPS (in EUR) 0.05 -0.03 - / +0.08 -0.01 -0.06 -89% / -0.05
Corporate Presentation 19Financials HY1 2018:
Quarterly revenue growth 2016 - 2018
In EUR million
+24.0%
+10.9% +13.4% +8.2%
41,4 +25.6%
+11.1%
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 20HolidayCheck Group is debt free
Equity ratio of 83% and net cash position of EUR 25m
Equity ratio vs. debt ratio 2013 – Q2 2018
in percent
100%
23.7 13.9 16.8
46.3
58.7 47.9
76.3 86.1 83.2
53.7
41.3 52.1
12/2013 12/2014 12/2015 12/2016 12/2017 06/2018
Equity ratio Debt ratio
Corporate Presentation 21Upgraded 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 22Outlook
23Outlook 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
Outlook 2018:
The year of differentiation
2016 2017 2018 2019 2020 Strategic areas
Transforma- Differentia- of development
Delivery Leverage Diversify
tion tion
Marketing
Efficiency
Customer
Experience
Team
Quality
Tech
Excellence
Corporate Presentation 25Options 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 to
understand, with similar thresholds for M&A that generate returns higher
characteristics we apply to organic than our cost of capital
• Vertical integration to investment 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 27Appendix
28Our 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
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, vacationerReview 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 31Financials 2017: Invest in brand marketing and new hires
In EUR million 2017 2016 Change in
% / EUR million
Revenue 121.6 107.3 +13% / +14.3
Marketing expenses -60.7 -54.0 +12% / +6.7
Personnel expenses -38.0 -32.4 +17% / +5.6
EBITDA 0.2 2.8 -2.6
EBITDA margin 0.2% 2.6%
Operating EBITDA 1.6 2.7 -41% / -1.1
Operating EBITDA margin 1.3% 2.5%
Depreciation -5.9 -5.8 +2% / +0.1
EBIT -5.7 -3.0 +90% / -2.7
EBIT margin -4.7% -2.8%
Financial result -0.2 0.2 -0.4
EBT -5.9 -2.8 >100% / -3.1
EBT margin -4.9% -0.7%
Consolidated net result of continued operations -6.3 -2.5 >100% / -3.8
Consolidated net result -5.9 -2.9 >100% / -3.0
EPS of continued operations (in EUR) -0.11 -0.04 -0.07
EPS (in EUR) -0.10 -0.05 -0.05
Corporate Presentation 32Share data
Management; Treasury
Segment Prime Standard 0,70% shares;
2,20%
ISIN DE0005495329
Free float;
Security ID number 549532 40,10%
Symbol HOC
Burda Digital;
Type of stock No-par-value bearer shares 57,00%
EUR 58,313,628
Current share capital
subdivided into 58,313,628 shares
Corporate Presentation 33Financial calendar 2018*
10/10 Roadshow Amsterdam + Brussels
10/15 Roadshow London
Oct 10/24 Roadshow Zurich
11/08 Interim statement Q1-3 2018
Nov
11/26 German Equity Forum – Frankfurt, Germany
Nov
*Provisional dates
Corporate Presentation 34Contact
Georg Hesse Markus Scheuermann Nate Glissmeyer Armin Blohmann
CEO CFO CPO/CTO Director Group Comm. & Investor Relations
+49 89 357 680 911 +49 89 357 680 917 +49 89 357 680 916 +49 89 357 680 901
georg.hesse@holidaycheckgroup.com markus.scheuermann@holidaycheckgroup.com nate.glissmeyer@holidaycheckgroup.com armin.blohmann@holidaycheckgroup.com
www.holidaycheckgroup.com HolidayCheck Group @HolidayCheckGrp
Corporate Presentation 35Disclaimer 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 may be incomplete or condensed, and it may not contain all material information concerning 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 result of new information, future events or otherwise. Corporate Presentation 36
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