Final Results Q1 2017 - HolidayCheck Group · 2. Financials Q1 2017: HolidayCheck Group is debt...
Transcript of Final Results Q1 2017 - HolidayCheck Group · 2. Financials Q1 2017: HolidayCheck Group is debt...
Final Results Q1 2017Georg Hesse (CEO)
Nate Glissmeyer (CPO)
5 May 2017
Final Results Q1 2017 2
1. Overview Q1 2017: Strong early bookers season
• Mid-European package travel industry saw a strong early bookers season in Q1
• OTA growth outperformed other segments• All destinations grew, except Turkey• Group revenue grew by 11 percent in Q1
2017 compared to Q1 2016• Operating EBITDA grew by 1000 percent in
Q1 2017• Despite conscious decision not to do TV, we
still saw some benefit from competitor’s campaigns in the segment.
• Invest in people, especially in tech and in travel center
• HCG well on track to reach FY 2017 guidance
2. Financials Q1 2017
2. Financials Q1 2017: Impressive EBITDA growth
Final Results Q1 2017 4
In EUR million Q1 2017 Q1 2016 ChangeRevenue 33.4 30.3 +11% / EUR +3.1 million
Marketing expenses 14.9 17.1 -13% / EUR -2.2 million
Personnel expenses 9.4 7.8 +22% / EUR +1.6 million
EBITDAEBITDA margin
4.212.6%
0.62.0%
+600% / EUR +3.6 million
Operating EBITDAOperating EBITDA margin
4.413.2%
0.41.3%
+1.000% / EUR +4.0 million
Depreciation -1.4 -1.3 +5% / EUR +0.1 million
EBITEBIT margin
2.88.4%
-0.7-2.3%
EUR +3.5 million
Financial result 0.0 0.0 -
EBTEBT margin
2.88.4%
-0.7-2.3%
EUR + 3.5 million
Consolidated net result of continued operations 1.9 -0.7 EUR +2.6 million
EPS of continued operations (in EUR) 0.03 -0.01 EUR +0.04
2. Financials Q1 2017: HolidayCheck Group is debt free –Equity ratio of 83% & net cash position of EUR 35 m.
Final Results Q1 2017 5
41,352,1 53,7
76,386,1 83,7
58,747,9 46,3
23,713,9 16,3
0%
20%
40%
60%
80%
100%
12 2012 12 2013 12 2014 12 2015 12 2016 3 2017
Equity ratio vs. debt ratio 2012 – Q1 2017in percent
Equity ratio Debt ratio
Final Results Q1 2017 6
2. Financials Q1 2017: Share buyback program
• Intended purpose: As a salary component theshares shall be offered to employees ofHolidayCheck Group and its subsidiariesas well as to the Executive Board
• No. of shares bought back as of April 28th: 937,127
• Average price per share: 2.52 €
3. Product update Q1 2017
Final Results Q1 2017 8
3. Product update Q1 2017:New data provider Peakwork
• HolidayCheck integrated Peakwork as secondservice provider of travel data (besidesTraveltainment)
• Adding another provider improved data qualityfor our Urlaubers
Final Results Q1 2017 9
3. Product update Q1 2017: HolidayCheck is part of AMP
• HolidayCheck joined Google‘s Accelerated Mobile Pages Project (AMP)
• First in our segment to add AMP-enabled pages
• New technology Google is investing in to accelerate speed, especially for mobile users
Final Results Q1 2017 10
3. Product update Q1 2017: New bulk upload• We are making good progress in fixing the
basics, e.g. multiple picture upload nowavailable
4. Outlook 2017
Final Results Q1 2017 12
4. Outlook 2017:We stick to our vision & mission
Our vision:We are the most Urlauber*-friendly company in the world
Our mission:We make life of Urlaubers better!
* Urlauber [uːɐlaʊbɐ] is the German term for vacationer, holiday-maker
Final Results Q1 2017 13
4. Outlook 2017:Brick and mortar travel agencies are our source of business
Our source of business:70 % of all package holidays in Germany are still booked offline.
We aim to change that!
Final Results Q1 2017 14
4. Outlook 2017:Our invest areas
Our invest areas 2017:• Package: core product experience• Hotel only: continue to grow• Scale travel center by hiring further
employees• Improve cruise experience on website by
building own cruise product• Build where we can, buy where we need
Final Results Q1 2017 15
4. Outlook 2017:We stick to our guidance
Our guidance 2017:• High single-digit growth in revenues• We continue to invest in people, tech and
marketing• Hence op. EBITDA EUR -5 to 0 million• Q2 well on track• We are hunting the big game!
Our long-term ambition:• Sustainable double-digit growth• Invest now to gain leverage on personnel
and marketing costs in out years
THANK YOUFOR YOUR ATTENTION!
Appendix
Package market segment offers growth potential
Final Results Q1 2017 18
Package is key segment for HolidayCheck
Today still offline dominated
Significant growth potential
72%
44%30%
28%
56%70%
Offline
HotelFlight/ Train
Online
Package*
Total size of German travel market 2015: € ~54 bn(thereof package holidays 2015: € ~15 bn)
• Interesting market with growth potential
• We make it much easier to book a package holiday
• The fundamentals are:• Trust • Technology
Package holidays
*All privately booked trips with a duration of at least 2 days and one pre-paid element, at leastSource: Own estimate based on the GfK Travelscope 2.0 survey (survey period 2013/2014)
Final Results Q1 2017 19
Package holidays; 24.8 bn €
Short-trip/Wellness; 3.9 bn €Rental homes; 8.3 bn €
Packaged roundtrips; 14.0 bn €
Cruise; 4.2 bn €
Other; 0.8 bn €
Total: 56.0 bn €
*gross revenue; own estimation based on travel industry data
Recreational holidays in DACH + Benelux* - a multibillion niche market segment
Improve packageholiday
experience
Improve quality of
data & content
Strengthen brand
awareness
Scale servicecenter
1 2 3 4
Invest in people: mostly tech Invest in peopleInvest in brandmarketing
Additionally: New product(s), MietwagenCheck carve-out, Zoover IT migration
20
Company goals & invest areas 2017
Final Results Q1 2017
Final Results Q1 2017 21
Outlook 2017:Our way towards excellence
Transformation Delivery Differentiation Execution
2016 2017 2018 2019
Tech Excellence
Marketing Efficiency
Customer Experience
Team Quality
Strategic areasof development
Financial calendar
Final Results Q1 2017 22
Date* Event Location9 May 2017 Goldman Sachs European Small & Mid Cap Symposium 2017 London, United Kingdom
30 May 2017 Annual General Meeting Haus der Bayerischen Wirtschaft, Max-Joseph-Str. 5, 80333 Munich, Germany
8 August 2017 Publication of Interim Report HY1 2017 Munich, Germany
18 September 2017 Goldman Sachs & Berenberg 6th German Corporate Conference Munich-Unterschleissheim, Germany
8 November 2017 Publication of Interim Statement Q1-3 2017 Munich, Germany
November 2017 German Equity Forum 2017 Frankfurt, Germany
* Provisional dates
www.holidaycheckgroup.com HolidayCheck Group @HolidayCheckGrp
Georg HesseCEO
T: +49 89 357 680 [email protected]
Final Results Q1 2017 23
Armin BlohmannDirector Group Comm. & Investor Relations
T: +49 89 357 680 [email protected]
Disclaimer
Final Results Q1 2017 24
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 be correct.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 result ofnew information, future events or otherwise.