Siteminder Limited · ASX:SDR
Siteminder — Shareholder Meeting (October 2022)
18 slides from Siteminder's shareholder meeting presentation, Oct 24, 2022
Slide 1: Annual General Meeting 2022: Chairman's Address
ASX ANNOUNCEMENT 24 October 2022 For personal use only Annual General Meeting 2022 Chairman and CEO’s Address Chairman’s Address It is almost exactly one year ago that I took on the role as SiteMinder’s chairman. Having worked closely with a number of Australia’s leading technology companies, I reco
Slide 2: Chairman's Address: governance and board
In SiteMinder’s first year as a public company, good progress was made in improving corporate governance. A key area of focus has been the composition of the Board in terms For personal use only of capability, diversity, and independence. Since the company’s ASX listing, we’ve added two independent
Slide 3: CEO's Address
CEO’s Address For personal use only Thank you, Pat. I would also like to acknowledge the support you and the Board have provided to not just myself but the whole SiteMinder team in our first year as a public company. As Pat outlined in his address, FY22 was about re-acceleration after two years of s
Slide 4: CEO's Address: digitisation, M&A and labour cost base
3. Initiatives such as Little Hotelier Basics transform how customers engage with us For personal use only via a completely digital and ‘touchless’ onboarding and sales process. This helps us deliver a superior customer experience at a significantly lower cost. Over time, we’ll digitise more of how
Slide 5: CEO's Address: addressable market and transaction products
existing technology, our Platform allows hoteliers to implement best in class capabilities with minimal disruption to their business. For personal use only From a geographic perspective, Australia is highly penetrated with SiteMinder holding the leading share. Technology penetration in other parts o
Slide 6: CEO's Address: macro environment and outlook
Additionally, transaction revenues significantly enhance the lifetime value of our customers, and their highly variable cost structure provides protection in times of economic For personal use only uncertainty. We at all times remain aware of the macro environment, and we believe the current uncerta
Slide 7: About SiteMinder
About SiteMinder SiteMinder Limited (ASX:SDR) is the world’s leading open hotel commerce platform, For personal use only ranked among technology pioneers for opening up every hotel’s access to online commerce. It’s this central role that has earned SiteMinder the trust of tens of thousands of hotels
Slide 8: Chief Executive Officer's Address
10 Chief Executive Officer’s Address al use only Sankar Narayan CEO & Managing Director
Slide 9: FY22 results highlights
Strong H1FY22 results across multiple metrics 11 Annual recurring revenue (ARR) Subscription properties Total FY22 revenue Monthly ARPU $129.7M 34.7K $116.0M $291 25.3% growth (cc) in FY22 7% growth in FY22 15.0% growth y/y (cc) 13.2% growth y/y (cc) in FY22. al use only Q4FY22 growth of 23.4% y/y (
Slide 10: SiteMinder continues to accelerate in Q1FY23
SiteMinder continues to accelerate in Q1FY23 12 SiteMinder Annual Recurring Revenue Growth (y/y, constant currency) al use only
Slide 11: FY22 Performance & Initiative Scorecard
FY22 Performance & Initiative Scorecard 13 Achieved / Not Metric / Initiative Target Performance Achieved Revenue Growth Re-accelerate towards pre-COVID levels (31% from FY17-FY19) Annual recurring revenue growth of 25.3% y/y (cc) in Q4FY22 and 31.8% in Q1FY23 ✓ ✓ al use only Growth accelerated from
Slide 12: Setting up the business to self fund its growth
Setting up the business to self fund its growth 14 Leveraging our access to global Automation and Digitisation talent al use only Automating key business processes to Manila employees to be brought in-house drive operational efficiencies and improve from Jan-23 to improve alignment with customer exp
Slide 13: Subscription Revenues - Large Total Addressable Market
Subscription Revenues - Large Total Addressable Market (TAM) 15 Existing TAM (Properties): Almost 30x Customer Base Future Opportunities al use only Vacation Rentals New Geographical Markets Small Mid-Market Enterprise SDR product Little Hotelier SiteMinder Platform SiteMinder Platform White space S
Slide 14: Transaction Revenues - Outpacing Market Growth
Transaction Revenues - Outpacing Market Growth 16 Upsell / Cross-sell al use only Share of Wallet Market Growth - Upsell / Cross-sell - number of transaction products increased 51% in FY22 to 13k - Share of wallet opportunity - only 1% of the $45b of GMV that flowed through SiteMinder in FY22 was pr
Slide 15: Transaction operating margins are strong due to add-on nature
Transaction operating margins are strong due to “add-on” nature 17 Cost Subscription Products Transaction Products - Subscription gross margin was 81.5% in FY22 - Transaction gross margin was 31.5% in FY22 Cost of Sales - Scope to increase via scale and automation - Opportunity to improve with scale
Slide 16: Resilient Business Model
Resilient Business Model 18 Global Air Transport Passengers (1975-2019, y/y) SiteMinder Revenues vs Travel Tech Peers (FY21 vs FY19) Travel demand has been resilient across economic cycles Delivered stable revenues during COVID al use only *Travel tech peers: Booking.com, Despegar, eDreams, Expedia,
Slide 17: Multiple levers to sustain high growth rates
Multiple levers to sustain high growth rates 19 Subscription Transaction M&A Growth Products Our customers generate Hotel tech landscape is al use only Existing addressable 105m transactions per fragmented. Opportunity Opportunity market >1m hotels. year valued at US$35b to bolt-on capabilities (pre
Slide 18: Outlook
20 Outlook al use only SiteMinder is targeting consistent delivery of pre-COVID growth rates (31% from FY17-FY19). Realisation of this target will depend on many factors outside of SiteMinder’s control including the substantial abatement of COVID 19 related influences on the accomodation and travel