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EQS-News: HomeToGo SE / Key word(s): Quarter Results
HomeToGo reports strong Q1/24 performance: IFRS Revenues growth >60% YoY and fully on track to achieve 2024 goals.
Introduction of new B2C and B2B business segment reporting
2024-05-13 / 19:16 CET/CEST
The issuer is solely responsible for the content of this announcement.
HomeToGo reports strong Q1/24 performance: IFRS Revenues growth >60% YoY and fully on track to achieve 2024 goals.
Introduction of new B2C and B2B business segment reporting
Luxembourg, 14 May 2024 - HomeToGo SE (Frankfurt Stock Exchange: HTG), the SaaS-enabled marketplace with the world's
largest selection of vacation rentals, today published its financial results for the first quarter of 2024.
Financial Highlights
. Booking Revenues reached an all-time high value of EUR83.4M (27.7% YoY and 214% Yo5Y), primarily driven by
Booking (Onsite) business (39.3% YoY) and record high Onsite Take Rate of 12.8% (+1.7pp YoY). Booking Revenues
Backlog[1] at the end of Q1 grew 10.3% YoY to a new record figure of EUR76.6M.
. IFRS Revenues reached a record high for the first quarter of EUR36.4M (66.4% YoY and 201% Yo5Y) driven by
both segments, HomeToGo B2C Marketplace and HomeToGo_PRO B2B business. The high growth during Q1/24 partially
relates to the first-time consolidation of HomeToGo's latest acquisitions in January 2024 as well as an early
Easter break.
? The Marketplace segment, HomeToGo's B2C platform offering the world's largest selection of vacation
rentals to travelers, strongly grew IFRS Revenues by 83.7% YoY due to stellar growth in its Booking (Onsite)
business that more than tripled its IFRS Revenue YoY. The Advertising business line contributed a substantial
27.6% YoY increase in IFRS Revenues.
? The HomeToGo_PRO segment, encompassing B2B Software & Service Solutions for the whole travel market
with a special focus on SaaS for the supply side of vacation rentals, reached EUR11.6M in IFRS Revenues (35.3%
YoY), now accounting for 32% of HomeToGo Group's total IFRS Revenues in Q1/24.

. Adjusted EBITDA amounted to EUR(21.2)M in Q1/24 (15% or a EUR3.6M YoY improvement), reflecting an Adjusted
EBITDA margin of (58.3)% which is fully in line with the underlying seasonality of the business. Adjusted EBITDA
margin strongly improved by +55.1pp YoY largely due to a substantially higher marketing efficiency.
. Comfortable cash position of EUR90.6M after incorporating the successful closing of the majority
acquisitions in Q1/24 and the significant seasonal marketing investments to build up the record Booking Revenues
Backlog.
. Free Cash Flow[2] of EUR(22.4)M in line with expectations at (11.3)% YoY due to higher capital
expenditures, VAT tax payments as a result of the recent acquisitions, and seasonal higher working capital needs.

Confirmation of full year guidance
Based on the strong Q1/24, the Company confirms its FY/24 guidance of growing Booking Revenues to more than EUR250M (>30%
YoY), IFRS Revenues to more than EUR220M (>35% YoY), and delivering more than EUR10M of Adjusted EBITDA in FY/24 (>400%
YoY).
Dr. Patrick Andrae, Co-Founder & CEO of HomeToGo: "The first quarter of 2024 marks the introduction of HomeToGo's new
reporting segmentation that aims to provide the market with higher transparency into our business operations and
financial updates. At the end of the first quarter, we are fully on track with our ambitious growth journey through the
robust growth achieved both by our B2C Marketplace and HomeToGo_PRO at the beginning of the year. We are well
positioned to achieve our 2024 financial targets and remain focused on accelerating our growth at improved
profitability."
Review of Q1/24
In Q1/24 HomeToGo delivered a strong performance in Booking Revenues to a new quarterly all-time high of EUR83.4M (27.7%
YoY vs. EUR65.3M in Q1/23 and 214% Yo5Y vs. EUR26.6M in Q1/19). The dominant driver was the newly established Marketplace
segment with its Booking (Onsite) business growing 39.3% YoY in Booking Revenues and even 53.0% YoY in its number of
bookings. Besides a strong organic foundation, these positive developments were partly driven by the first-time
consolidation of the majority acquisition of the combined leading short trip business of Kurz Mal Weg and Kurzurlaub in
early 2024. This contributed to business volume with shorter length of stays in DACH due to the acquisition's leading
speciality in short trips.
Another key driver behind the top-line growth was the substantial growth of the Marketplace segment's Onsite Take Rate
to 12.8% (+1.7pp YoY) as part of the Booking (Onsite) business. The Booking Revenues Backlog grew to a new all-time
record high of EUR76.6M (10.3% YoY vs. EUR69.5M in Q1/23). HomeToGo's Repeat Booking Revenues grew by 31% in the first
quarter of 2024 compared to the previous year period and more than ten-folded over the last five years.
HomeToGo's IFRS Revenues increased materially by 66.4% to EUR36.4M (vs. EUR21.9M in Q1/23 and 201% vs. EUR12.1M in Q1/19) in
the first three months of the year compared to the previous year period. The Marketplace segment contributed a
particularly strong 83.7% YoY growth in IFRS Revenues. The top-line development was due to both decent organic growth
driven by an early Easter as well as the first-time consolidation of the recent acquisitions closed in January 2024.
Within the Marketplace segment, the Booking (Onsite) business especially experienced stellar growth in Q1/24, more than
tripling its IFRS Revenues compared to the previous year period from EUR3.7M to EUR12.5M (241.2% YoY). The Advertising
business - comprising the former CPA Offsite and CPC business - grew its IFRS Revenues by 27.6% YoY, benefiting from
the continued strength and commercials in the North American market.
HomeToGo_PRO showed a continued strong growth momentum, increasing its IFRS Revenues to EUR11.6M (35.3% YoY) and now
accounting for 32% of the Group's total IFRS Revenues. Both the Subscription as well as Volume-based business
activities contributed strongly to this growth with 24.1% and 47.9% YoY, respectively.
HomeToGo's underlying profitability improved with Q1/24 Adjusted EBITDA coming in at EUR(21.2)M (15% YoY, a EUR3.6M
improvement), fully in line with HomeToGo's typical seasonal pattern. This is equivalent to an Adjusted EBITDA margin
of (58.3)%, a substantial improvement of +55.1pp YoY (vs. EUR(24.8)M in Q1/23). This largely stems from a significantly
higher marketing efficiency with a notable +40.9pp YoY improvement in the marketing and sales cost ratio[3] (114.0% vs.
154.9% in Q1/23) as well as overall strong cost discipline.
On a segment level, the Adjusted EBITDA for the Marketplace segment improved by 5.0% YoY to EUR(22.5)M whereas
HomeToGo_PRO achieved a swing into profitability on a yearly comparison and delivered EUR1.1M in Adjusted EBITDA in Q1/
24. While the Marketplace is heavily driven by a seasonal pattern - whereas the IFRS Revenues recognition peaks in the
summer months and the marketing expenses in the winter/spring months - the Adjusted EBITDA of the HomeToGo_PRO segment
remains relatively steady throughout the year.

Q1 2024 Results: Q1 Quarterly Statement, Earnings Call, and Presentation
Dr. Patrick Andreae, Co-Founder & CEO, and Steffen Schneider, CFO, will present the financial results for Q1/24 in a
webcast and conference call today at 10:00 am CEST, 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/
login/hometogo-2024-q1
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://services.choruscall.it/DiamondPassRegistration/register?confirmationNumber
=7413692&linkSecurityString=10036affcc
HomeToGo's Q1 Quarterly Statement is available on the HomeToGo Investor Relations website at ir.hometogo.de.
The earnings presentation for analysts and investors will be made available shortly before the call starts at 10:00 am
CEST and is also available at ir.hometogo.de.

HomeToGo Q1/24 Results
Marketplace Segment Q1/24 vs. Q1/23
relative / absolute

Booking Revenues                     EUR64.2M          26.0% / +EUR13.2M 
Booking (Onsite)                  EUR38.9M          39.3% / +EUR11.0M 
Advertising                       EUR25.3M            9.9% / +EUR2.3M 
IFRS Revenues                        EUR25.6M          83.7% / +EUR11.7M 
Booking (Onsite)                  EUR12.5M           >100% / +EUR8.9M 
Advertising                       EUR13.1M           27.6% / +EUR2.8M 
Adjusted EBITDA                    EUR(22.5)M            5.0% / +EUR1.2M 
Adjusted EBITDA margin              (87.7)%                  +82.0pp 
Onsite Take Rate                      12.8%                  +1.7pp 

HomeToGo_PRO Segment Q1/24 vs. Q1/23
relative / absolute

Booking Revenues                     EUR22.8M           29.5% / +EUR5.2M 
Subscription                       EUR5.7M           24.7% / +EUR1.1M 
Volume-based                      EUR17.1M           31.2% / +EUR4.1M 
IFRS Revenues                        EUR11.6M           35.3% / +EUR3.0M 
Subscription                       EUR5.6M           24.1% / +EUR1.1M 
Volume-based                       EUR6.0M           47.9% / +EUR1.9M 
Adjusted EBITDA                       EUR1.1M             n.m. / +2.3M 
Adjusted EBITDA margin                 9.8%                  +23.0pp 

HomeToGo Group Q1/24 vs. Q1/23
relative / absolute
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May 13, 2024 13:16 ET (17:16 GMT)