HOLIDAYCHECK GROUP COMPANY PRESENTATION
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
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 want to build 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!
Company Presentation 4 *German term for holidaymaker, vacationer
The HolidayCheck Group
Five leading brands with a strategic focus on local markets
DACH and BENELUX
We focus on secured relaxing holidays
DACH BENELUX
• HolidayCheck • Zoover
Hotel review and booking Hotel review platform
platform
• Weeronline
• HolidayCheck Reisen Weather platform
Tour Operator
• MietwagenCheck
Car rental comparison
(International: Driveboo)
Company Presentation 5
Our eco system: a unique combination of a platform & pipeline
business
DATA
NLP & AI REAL PEOPLE
Company Presentation 6
Traffic and usage of HolidayCheck
18.6 mn*
1.2mn
average
visits/month
reviews/year
6.5 mn**
Up to average
6,000
unique users/
month
reviews/day
Over 2.7 mn
10 mn *IVW: Ø Jan-Sep 2019;
** AGOF digital facts: Ø Jan-Sep 2019
community
members
photos &
videos
Company Presentation 7
HolidayCheck wins lawsuit: fake reviews are illegal HolidayCheck filed a lawsuit against Fivestar Marketing UG, which sold fake reviews to hotels “In a judgement with signal character, the Munich Regional Court declared purchased fake reviews on the Internet to be illegal.” Stuttgarter Nachrichten "We‘d wish to see more platforms to follow suit and do more against fake reviews.“ - Julia Berger, Verbraucherzentrale Bayern (Consumer Advice Center), in a ZDF TV report. Company Presentation 8
Drivers of growth
9
Investments in core business
We continously invest in our core product to improve user experience
• We push product optimizations to improve conversion
rates.
• We apply latest technologies like artificial intelligence to
make use of the enormous amount of valuable data within
HolidayCheck.
• We invest in people to become the best team in the
industry.
• We invest in superior, personal customer service.
20 percent increase in personnel since 2017.
• We invest in brand marketing to strengthen brand
awareness and draw particular attention to booking
opportunity.
Company Presentation 10Growth options within the relaxing holidays market
Based on expertise in our core segment, further market segments can be tackled in
the mid- to long-term
Urlauber-friendliness
Packaged
Short Round- Cruise Package Hotel Rental
Trips trips Holidays Only Homes
Tour Operator
Community Expert Advice Artificial Intelligence
Company Presentation 11Investments in new business areas We constantly invest to increase our footprint in the market Own Tour Operator Started own tour operator under the brand name HolidayCheck Reisen. First package travels took place in July 2019. Currently onboarding of new hotel and flight partners. Hotel Only Double digit growth in Hotel Only sales. Own Cruise platform High traffic volumes on cruise platform. In 2019 we became independent, improving customer experience. Goal: Convert traffic into bookings. Company Presentation 12
EBITDA development
Healthy core business, stable investments and disproportional holding costs, will lead to growing
Group EBITDA.
• We have a healthy core business, growing
double digit yoy.
double stable • We keep a stable investment rate which
yoy
digit will lead to future growth
growth dispropor-
yoy tionately yoy
• We manage an effiencient holding with
holding costs growing disproportional to
business size
Continous growing Group EBITDA
Growth rate can be influenced by market and
Core Business Investments Holding Group
EBITDA EBITDA segment development in individual years
Company Presentation 13Future of package holiday
• Combination of the comfort and safety of a
package holiday with individual and local
experiences.
• Package holidays will become highly Develop a deeper
customizable. Customers can assemble their understanding for the
package holiday from a variety of services, needs of holidaymakers
activities and special interest offers.
• Services of a travel agency to be combined with
• tailored products
the advantages of the online world by smart
• higher data quality
algorithms and a wide network of partners.
• better user experience
Company Presentation 14Financials
15Impact of Thomas Cook Insolvency in Q3 2019 Insolvency of German Thomas Cook companies was announced on 25th September 2019: • >20.000 HolidayCheck bookings affected (> 50.000 Urlaubers) • >25.000 calls received in our Service Center and more than 31.000 emails answered within one week Operational measures: • Dedicated team and 24 hours operations room installed • Continuous information of our customers via mailings, calls, community posts, own landing page including live ticker and own hotline for Thomas Cook customers • 48 extra freelance travel agents hired to support Service Center as well as several employees from other departments within HolidayCheck Impact: Negative effect of approx. EUR -3.0 million in Q3 2019 due to value adjustments. No further significant value adjustments in upcoming quarters expected for past bookings. Impact on overall consumer sentiment towards package tours to be seen. Company Presentation 16
Financials 9M & Q3 2019*
In EUR million 9M 2019 9M 2018 Change in % / Q3 2019 Q3 2018 Change in % /
EUR million EUR million
Revenue 112.5 108.4 +3.8% / +4.1 37.6 35.6 +5.6% / +2.0
Marketing expenses -55.2 -53.0 +4.2% / +2.2 -17.7 -18.2 -2.7% / -0.5
Personnel expenses -31.4 -29.2 +7.5% / +2.2 -10.3 -9.6 +7.3% / +0.7
Other expenses -24.3 -20.3 +19.7% / +4.0 -11.0 -6.8 +61.8% / +4.2
EBITDA 5.1 9.5 -46.3% / -4.4 -0.2 2.2 - / -2.4
EBITDA margin 4.5% 8.8% -0.5% 6.2%
Operating EBITDA 5.6 10.2 -45.1% / -4.6 -0.2 2.4 - / -2.6
Operating EBITDA margin 5.0% 9.4% -0.5% 6.7%
Depreciation -7.5 -4.9 +53.1% / +2.6 -2.5 -1.7 +47.1% / +0.8
EBIT -2.4 4.6 - / -7.0 -2.7 0.5 - / -3.2
EBIT margin -2.1% 4.2% -7.2% 1.4%
Financial result -0.3 -0.1 +200% / -0.2 -0.1 0.0 - / -0.1
EBT -2.7 4.5 - / -7.2 -2.8 0.5 - / -3.3
EBT margin -2.4% 4.2% -7.4% 1.4%
Consolidated net result -3.3 3.1 - / -6.4 -2.8 0.2 - / -3.0
EPS (in EUR) -0.06 0.05 - / -0.11 -0.05 0.00 - / -0.05
* Other expenses and EBITDA were positively affected by IFRS 16 effect of EUR +2.0 million in 9M 2019 and EUR 0.7 million in Q3 2019, whereas Depreciation was negatively affected.
Company Presentation 17Financials 9M & Q3 2019
Slight, yet continued revenue growth despite strong 2018 comparison
In EUR million 2016 2017 2018 2019
2%
24%
6%
11% 41.4 42.2 4% 11%
13% 8%
37.6 7%
35.6 25%
33.4 11%
31.4 32.7 32.0
30.1 29.6 30.5
27.7 28.4
24.9
22.7
Q1 Q2 Q3 Q4
Company Presentation 18Financials 9M & Q3 2019: HolidayCheck Group is debt free
Equity ratio of 78% and net cash position of EUR 28mn
Equity ratio vs. debt ratio 2015 –2019
in percent
100%
13.9 13.9 17.2
23.7 21.9* * Debt including EUR 10.0 million
leasing liabilities due to the
first-time application of IFRS 16
86.1 86.1 82.8
76.3 78.1
12/2015 12/2016 12/2017 12/2018 09/2019
Equity ratio Debt ratio
Company Presentation 19Outlook
20Guidance adjustments 2019
Business performance affected by market segment development in 2019
• German package travel industry flat in first nine months 2019 compared to
2018.
• HY1 burdened by Germania insolvency (>13,000 package bookings via HC)
lead to higher costs, lower revenues through cancelations.
• Despite accelerated growth end of Q2 and beginning of Q3, the overall
growth level did not suffice to fully compensate weak HY1.
• HY2 now strongly burdened by Thomas Cook insolvency (> 20.000 bookings
via HC). Negative effect of approx. EUR -3.0 million in Q3 2019 due to value
adjustments on trade receivables.
• Potential short- to mid-term impact due to consumer sentiment towards
package holidays and changes in tour operator landscape yet to be seen.
Updated Guidance
Revenue growth of 1 – 4 % and operating EBITDA of EUR 2 - 6 million. (Prior: 3 -
6% revenue growth, operating EBITDA EUR 7.5 – 10.5 million)
Company Presentation 21Outlook Continue profitable growth of core business and investments in long- term growth to deliver on our vision We expect… • DACH package holiday market to grow 2-3 percent yoy. • DACH online package market to grow double digit yoy leading to continuously rising online penetration. Our long-term ambition: • Sustainable double-digit revenue growth • Operating EBITDA margin of 15% on average • Marketing and personnel expenses to grow disproportional to revenues. The package holiday market was impacted by insolvencies and economic uncertainties in 2019. We believe these effects to be short- to mid-term with minor influence on our long-term ambition. Company Presentation 22
Appendix
23Capital 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%
Company Presentation 24Share data
Management; Treasury
Segment Prime Standard
1,0% shares;
1,2%
ISIN DE0005495329
Free float;
Security ID number 549532 41,7%
Symbol HOC
Burda Digital SE;
Type of stock No-par-value bearer shares
56,1%
EUR 58,313,628
Current share capital
subdivided into 58,313,628 shares
Company Presentation 25Financial calendar 2020*
Mar
03/25 Final results 2019
Mar
03/31 Annual Report 2019
May
05/08 Interim Statement Q1 2020
Jun
06/23 Annual General Meeting 2020
Aug
08/10 Interim Report HY1 2020
Nov
11/09 Interim Statement 9M & Q3 2020
Nov
German Equity Forum 2020 – Frankfurt, Germany
*Provisional dates
Company Presentation 26Contact
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
Company Presentation 27Disclaimer 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. Company Presentation 28
You can also read
