HomeToGo Delivers Record Q3 with Highest Profit Ever, Upgrading Full-Year Guidance Again as it Continues On Path to Break-Even Profitability in 2023
 

• Highest IFRS Revenues ever with a growth of 59.8% YoY to a record high of EUR 69.7 million (vs. EUR 43.6 million in Q3/21)
• Highest Q3 Booking Revenues ever with a growth of 53.2% YoY to EUR 42.5 million (vs. EUR 27.8 million in Q3/21) amid strong last-minute business
• Strong profitability and positive Net Income: Highest ever Adjusted EBITDA of EUR 24.1 million (vs. EUR 15.1 million in Q3/21), equivalent to an Adjusted EBITDA margin of 34.7% (vs. 34.6% in Q3/21) and highest ever Net Income of EUR 12.5 million (vs. EUR (102.2) million in Q3/21)
• Continuing advancement on strategic priorities, Subscriptions & Services had outstanding IFRS Revenues increase of 246.3% YoY
• Upgrading FY/22 guidance again with expected IFRS Revenues growth of 48-54% YoY to EUR 141-146 million and an Adjusted EBITDA of EUR (20)-(25) million, with an Adjusted EBITDA margin of (14)-(18)%

Luxembourg, 10 November 2022 - HomeToGo SE (Frankfurt Stock Exchange: HTG), the marketplace with the world's largest selection of vacation rentals, today announced its results for the third quarter of 2022. With further progress on its strategic priorities, strong profitability, and a positive Net Income, HomeToGo achieved a record Q3.

In Q3/22 HomeToGo continued to deliver strong business growth, accelerated by the post-pandemic travel rebound and summer travel high. Booking Revenues increased by 53.2% YoY to EUR 42.5 million (vs. EUR 27.8 million in Q3/21) amid high last-minute bookings, particularly in July and August, while IFRS Revenues grew by 59.8% YoY to a record high of EUR 69.7 million (vs. EUR 43.6 million in Q3/21) and notably by 123.6% Yo3Y.

Underpinning this development and in-line with its strategy, HomeToGo has continued to expand both its Onsite and Subscriptions & Services businesses. As more customers booked offers directly on the HomeToGo domains, Onsite Booking Revenues increased by 29.4% YoY to EUR 16.3 million (vs. EUR 12.6 million in Q3/21) and Onsite IFRS Revenues by 100.8% YoY to EUR 39.2 million (vs. EUR 19.4 million in Q3/21), notably a surge of 302.6% Yo3Y. Overall, the Onsite business share[1] was 45.4% (vs. 49.8% in Q3/21), reflecting the high last-minute customer demand that also contributed to growth in its Offsite business. Subscriptions & Services grew by 246.3% YoY in IFRS Revenues to EUR 8.5 million (vs. EUR 2.4 million in Q3/21) - also a new record. This includes a strong contribution from its B2B SaaS solution, Smoobu, and positive consolidation effects from the acquisition of SECRA in June.

As HomeToGo continues to pave the way for break-even profitability in 2023, Q3/22 Adjusted EBITDA grew by 60.0% YoY to an all-time high of EUR 24.1 million (vs. EUR 15.1 million in Q3/21), equivalent to an Adjusted EBITDA margin of 34.7% (vs. 34.6% in Q3/21). Net Income improved significantly YoY to an all-time high of EUR 12.5 million (vs. EUR (102.2) million in Q3/21) due to a strong operational performance and the absence of de-SPAC related one-off effects.

In view of the financial and operational performance, and the favorable market context for alternative accommodation, HomeToGo has upgraded its FY/22 guidance for the second time and now expects IFRS Revenues to grow by 48-54% to EUR 141-146 million and an Adjusted EBITDA of EUR (20)-(25) million, with an Adjusted EBITDA margin of (14)-(18)%.

Dr. Patrick Andrae, Co-founder & CEO of HomeToGo: “In this post-pandemic travel rebound, the long-term trend towards alternative accommodation has continued to accelerate. Even as we are facing a period of global macroeconomic uncertainty, the travel sector showed continuous resilience and vacation rentals are the preferred choice. During this highly profitable and record third quarter, we have once again demonstrated exceptional growth across all parts of our business. Upgrading our guidance for the full year for the second time reflects our confidence in the market and our continued progress. We will remain focused on delivering on our strategy, unlocking value for our shareholders and advancing on our path to profitability, with the goal of achieving Adjusted EBITDA break-even in 2023.”

Today HomeToGo will also hold its Capital Markets Day, where the management team will share a detailed overview of the company’s strategy with a particular focus on demand, product, supply and HomeToGo’s path to profitability in 2023.

Q3 2022 Quarterly Statement and Presentation

Steffen Schneider, CFO, will present the quarterly results in a conference call at 1:30 pm CET, followed by a Q&A session for research analysts and investors.

The presentation will be held via a live audio webcast, and will be in English, hosted at: https://www.webcast-eqs.com/ hometogo20221110 Audio

Interested participants can register in advance for the conference call – with the opportunity to take part in the Q&A session - at the following address: https://event.loopup.com/SelfRegistration/registration.aspx?booking=HgEwuvb5B53EL1XMGNt4tErjWWg2TwQIEg7atoLNYWI=&b=2389e96d-457b-46a8-bebb-fec356d5b031

The Q3 2022 financial report, as well as the earnings presentation for analysts and investors, is available on the HomeToGo Investor Relations website at:  ir.hometogo.de.

About HomeToGo

HomeToGo was founded in 2014 with a vision to make incredible homes easily accessible to everyone. To pursue this vision, HomeToGo was able to build and constantly grow a trusted and easy-to-use technology platform that brings together property suppliers with travelers from all across the world.

HomeToGo operates a marketplace for alternative accommodation that connects millions of travelers searching for a perfect place to stay with thousands of inventory suppliers across the globe, resulting in the world's most comprehensive inventory coverage in the alternative accommodation space. HomeToGo's marketplace is beneficial to both of its customer groups: Consumers who visit HomeToGo's websites gain access to the largest inventory in one place, and supply partners who use the platform's reach and technology solutions are better able to serve a wide range of customers and generate more high-quality demand. While HomeToGo SE's registered office is located in Luxembourg, HomeToGo GmbH is headquartered in Berlin, Germany. HomeToGo operates localized apps and websites in 25 countries.

HomeToGo SE is listed on the Frankfurt Stock Exchange under the stock ticker “HTG”. For more information visit: www.hometogo.com/about 

Media Contact
Caroline Burns
press@hometogo.com

Investor Relations Contact
Jan Edelmann
+49 157 501 63731
IR@hometogo.com

Forward-Looking Statements

Certain statements contained in this release may constitute "forward-looking statements" that involve a number of risks and uncertainties. Forward-looking statements are generally identifiable by the use of the words "may", "will", "should", "plan", "expect", "anticipate", "estimate", "believe", "intend", "project", "goal" or "target" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are based on assumptions, forecasts, estimates, projections, opinions or plans that are inherently subject to significant risks, as well as uncertainties and contingencies that are subject to change. No representation is made or will be made by HomeToGo SE that any forward-looking statement will be achieved or will prove to be correct. The actual future business, financial position, results of operations and prospects may differ materially from those projected or forecast in the forward-looking statements. Neither HomeToGo SE nor any of their respective affiliates assume any obligation to update, and do not expect to publicly update, or publicly revise, any forward-looking statements or other information contained in this release, whether as a result of new information, future events or otherwise, except as otherwise required by law.

Non-IFRS and Other Financial and Operating Metrics

Adjusted EBITDA: Earnings before interest, taxes and amortization/depreciation, adjusted by expenses for share-based compensation and non-recurring one-off items.

Booking Revenues: Non-IFRS operating metric to measure intra-month performance view defined as net Euro value generated by transactions (CPA, CPC, CPL etc.) before cancellation.

Onsite Booking: Where the complete transaction from discovery to payment happens on HomeToGo domains without the user being referred to a third party supplier website.

^[1] Booking Revenues net of Subscriptions & Services