DGAP-News: HomeToGo SE
/ Key word(s): 9 Month figures
HomeToGo continues strong growth journey with record performance and increased revenue guidance
Dr. Patrick Andrae, Co-founder & CEO of HomeToGo: "In our first quarter as a publicly listed company, we have been laser-focused on continuing to deliver on our mission of making incredible accommodation easily accessible to everyone. This has become increasingly relevant to our guests as we enter a new era of travel demand, with momentum picking up significantly and now nearing pre-pandemic levels thanks to an increase in vaccinations globally. The record financial results announced today show the resilience of our business model and the promising outlook for alternative accommodation. High-quality, multi-purpose and unique vacation rentals will continue to be the new zeitgeist for travel into 2022, and we aim to capture the significant potential of this market."
RECOVERY IN TRAVEL-DEMAND AND ONSITE BUSINESS DRIVE RECORD RESULTS
Following a record Gross Booking Value (GBV) in 2020, HomeToGo generated its highest-ever GBV with EUR 1.2 billion in the first nine months of 2021 (+18% vs. 9M/19 and +9% vs. 9M/20) and with EUR 290 million in Q3/2021 (+2% vs. Q3/19 and -24% vs. post-lockdown boosted Q3/20) its second highest Q3 figure ever. Based on the strong demand in October and November 2021, HomeToGo expects significant GBV growth in Q4 compared to 2020. In addition to the continued success of brand initiatives, guests booking longer and more expensive holidays contributed to HomeToGo's record performance in the first nine months of 2021. This included the emerging and rapidly growing trend to take 'workations', which led to a significantly larger basket size.
HomeToGo has continued to deliver on its strategic objective of increasing onsite bookings - where the complete transaction from discovery to payment takes place on HomeToGo domains without the user being referred to a third-party supplier website - contributing to overall better commercials and customer retention. Thanks to strong momentum in North America and Europe as well as new and improved website features, onsite Booking Revenue grew significantly in both Q3/21 (+224% vs. Q3/19 and +73% vs. Q3/20) and 9M/21 (+154% vs. 9M/19 and +96% vs. 9M/20), resulting in an accelerated onsite Booking Revenue share of 47% in Q3/21 (+24ppt vs. Q3/19 and +17ppt vs. Q3/20) and 41% in 9M/21 (+16ppt vs. 9M/19 and +11ppt vs. 9M/20). On the back of the higher onsite share, the Take Rate increased to 9.5% in Q3/21 (+53% vs. Q3/19 and +46% vs. Q3/20) and 8.2% in 9M/21 (+33% vs. 9M/19 and +29% vs. 9M/20). In addition, HomeToGo has continued to increase its inventory in Q3, reaching over 15 million accommodation offers by the start of October 2021.
HomeTo Go's Q3/21 Adjusted EBITDA excl. share-based compensation and one-offs reached more than EUR 15 million, resulting in a margin of 35%, whilst for the first nine months of 2021, HomeToGo posted an Adjusted EBITDA of EUR -17 million excluding mainly SPAC related one-off items.
SUCCESSFUL LISTING ON THE FRANKFURT STOCK EXCHANGE
The record performance reported today follows HomeToGo's successful listing on the Frankfurt Stock Exchange on 22 September 2021. The closing of the business combination with Lakestar SPAC I SE and related PIPE resulted in gross proceeds of approximately EUR 250 million, which will be invested in organic growth initiatives and strategic acquisitions intended to significantly broaden HomeToGo's service offering. These investments are expected to further enhance the alternative accommodation ecosystem, especially by providing new and innovative technology solutions to HomeToGo's business partners.
FULL-YEAR REVENUE GUIDANCE RAISED WITH POSITIVE OUTLOOK
Fueled by structural trends such as remote working, 'workations' and growth in domestic travel, alternative accommodation is the "new zeitgeist." Thanks to the increase in vaccinations globally, HomeToGo further expects the momentum in travel-demand to continue well into 2022.
Based on strong growth of the onsite business and a strong Q4/21 demand forecast, with current Booking Revenues in October and November significantly above 2019 and 2020 levels, HomeToGo has raised its FY2021 Revenue guidance to EUR 85 to 90 million (+29% to +37% vs. FY2020). Due to a faster than expected shift to onsite revenue, the expected FY2021 Take Rate will be higher than 7.2% combined with a FY2021 GBV growth lower than initially guided.
Despite the strong Q4/21 forecast and due to remaining uncertain pandemic effects, HomeToGo will maintain the existing guidance for FY2022 and FY2023 in terms of Revenues and Take Rate while broadening the range for the FY2022 GBV growth to EUR 1.8 - 2.2 billion (from EUR 2.0 - 2.2 billion).
Q3 2021 QUARTERLY STATEMENT AND PRESENTATION
Dr. Patrick Andrae, Co-founder & CEO, and Steffen Schneider, CFO, will present the quarterly results in a webcast and conference call today at 2:00 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/hometogo20211116
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 websites and apps in 23 countries.
Forward-looking statements are not guarantees of future performance and such risks, uncertainties, contingencies and other important factors could cause the actual outcomes and the results of operations, financial condition and liquidity of the Company and other members of the Group or the industry to differ materially from those results expressed or implied in the Information by such forward-looking statements. No assurances can be given that the forward-looking statements will be realized. The forward-looking statements speak only as of the date of this release. The Company expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements to reflect any change in the Company's expectations with regard thereto or any changes in events, conditions or circumstances on which any forward-looking statements are based. No representation or warranty is made that any of these forward-looking statements or forecasts will come to pass or that any forecast result will be achieved. Undue influence should not be given to, and no reliance should be placed on, any forward-looking statement.
|9 rue de Bitbourg|
|WKN:||A2QM3K , A3GPQR|
|Listed:||Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange|
|EQS News ID:||1249264|
|End of News||DGAP News Service|
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