EQS-News: HomeToGo SE
/ Key word(s): Quarter Results
HomeToGo Reports All-Time High Third Quarter Results And Positive Adjusted EBITDA After Nine Months - Fully On Track To Achieve Adjusted EBITDA Break-Even, Revising Revenues Guidance Due To Softer Demand During Peak Season Q3/23 Key Financial Results:
Luxembourg, 8 November 2023 - HomeToGo SE (Frankfurt Stock Exchange: HTG), the marketplace with the world’s largest selection of vacation rentals, today announced a record performance in Q3/23. In the third quarter, HomeToGo delivered a significant improvement in profitability with a substantially higher marketing efficiency exemplified by a marketing to sales cost ratio of 42% (vs. 49% in Q3/22). This resulted in a new all-time high Adjusted EBITDA of €28.1M (16% YoY), equivalent to an Adjusted EBITDA margin of 38% (+3pp YoY). In Q3/23 HomeToGo achieved robust IFRS Revenues growth of 6% YoY to a record high quarterly result of €73.9M. Booking Revenues grew by 7% YoY to €45.3M with a Booking Revenues Onsite share of 51% (+6pp YoY). Additionally, CPA Take Rate advanced to 11.6% (+2.0pp YoY). HomeToGo also generated its highest ever Q3 Booking Revenues Backlog of €12.4M (29% YoY) to be recognized as IFRS Revenues in Q4/23. Its Subscriptions & Services business, a profitable and strategic priority for the Company, grew 42% YoY to €12.0M in IFRS Revenues. HomeToGo’s Q3/23 results are coupled with the Company’s strong 9M/23 performance, which represents significant growth and continued strides towards profitability. In 9M/23 Booking Revenues reached a new all-time high of €160.8M (23% YoY), alongside record highs for IFRS Revenues of €138.5M (10% YoY) and Adjusted EBITDA of €4.7M (+€9.3M YoY). In light of continued pressure on demand for bookings with check-in dates in 2023 due to the more difficult economic conditions in HomeToGo’s core markets, the Company now expects IFRS Revenues in a range between €158-162M (previous range of €165-175M), Booking Revenues in a range of €180-190M (previous range of €185-205M) and a Booking Revenues Onsite Share of 52%-56% (previous range of 56%-61%). Based on its Q3/23 and 9M/23 performance, HomeToGo continues to be fully confident to achieve Adjusted EBITDA break-even this year. Dr. Patrick Andrae, Co-founder & CEO of HomeToGo: “HomeToGo has once again delivered record high quarterly results despite industry-wide softer demand in our core markets in July and August. Our strong figures include our highest ever quarterly IFRS Revenues, with our third quarter results even surpassing our full-year 2019 IFRS Revenues. This continued progress across all business pillars is a result of our commitment to our long-term sustainable performance. Looking ahead, we already saw booking behaviors start to rebound at the end of the third quarter with the majority of bookings planned for 2024. We remain fully confident to reach our number one priority of Adjusted EBITDA break-even in full-year 2023.” HomeToGo will hold its virtual Capital Markets Day on 12 December. The Capital Markets Day will include a comprehensive update from HomeToGo’s management on the Company’s business strategy with a particular focus on demand, product, supply and technology, including HomeToGo’s AI developments.
About HomeToGo HomeToGo operates a marketplace for vacation rentals 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 Investor Relations Contact
Forward-Looking Statements
Use of Non-IFRS Performance Measures [1] Adjusted for expenses for share-based compensation, depreciation, amortization and one-off items in relation to IFRS Revenues.
08.11.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | HomeToGo SE |
9 rue de Bitbourg | |
L-1273 Luxembourg | |
Luxemburg | |
E-mail: | ir@hometogo.com |
Internet: | ir.hometogo.de |
ISIN: | LU2290523658, LU2290524383 |
WKN: | A2QM3K , A3GPQR |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange |
EQS News ID: | 1768805 |
End of News | EQS News Service |
|
1768805 08.11.2023 CET/CEST
The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.
The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.
If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.
For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.
1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.