trivago N.V. · NASDAQ:TRVG
trivago — Q2 2020 Earnings Presentation
21 slides from trivago's earnings presentation, Jul 29, 2020
Slide 1: Earnings Call Q2 2020
Earnings Call Q2 2020 29 July 2020
Slide 2: Disclaimer
Disclaimer All of the information herein has been prepared by the Company solely for use in this presentation. The information contained in this presentation has not been independently verified. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be
Slide 3: Q2 2020 – Financial Update
Q2 2020 – Financial Update 2019 2020 YoY Total Revenue Adj. EBITDA1 Net Income / (Loss)2 Return on Advertising Spend (€mm) (€mm) (€mm) (%) 5.9 13.7 40.1 18.8 (20.2) 254% 432.6 (14.4) (15.0) (234.4) Q2 H1 Q2 H1 223.7 (% of Total Revenue) (% of Total Revenue) 130% 133% 139% 155.9 8.4% 9.3% 2.6% 3.2% 1
Slide 4: KPI – Global
KPI – Global 2019 2020 YoY ROAS (%) Referral Revenue (€mm) 254% 424.9 133% 139% 219.9 130% 150.6 13.9 Q2 H1 Q2 H1 124 ppts 6 ppts (94)% (65)% Qualified Referrals (mm) RPQR1 (€) 260.6 1.67 1.63 131.3 1.28 117.5 0.59 23.6 Q2 H1 Q2 H1 (82)% (55)% (65)% (21)% Source: Internal data 4 Note: Some numbers m
Slide 5: KPI – Americas
KPI – Americas 2019 2020 YoY ROAS (%) Referral Revenue (€mm) 312% 124% 126% 133% 152.9 81.8 61.2 6.5 Q2 H1 Q2 H1 188 ppts 7 ppts (92)% (60)% Qualified Referrals (mm) RPQR1 (€) 2.34 2.07 1.54 0.96 74 35.0 39.7 6.8 Q2 H1 Q2 H1 (81)% (46)% (59)% (26)% Source: Internal data 5 Note: Some numbers may not
Slide 6: KPI – Developed Europe
KPI – Developed Europe 2019 2020 YoY ROAS (%) Referral Revenue (€mm) 357% 144% 149% 165% 183.3 93.2 62.2 4.9 Q2 H1 Q2 H1 213 ppts 16 ppts (95)% (66)% Qualified Referrals (mm) RPQR1 (€) 1.89 1.88 1.51 97.3 49.4 41.2 0.56 8.8 Q2 H1 Q2 H1 (82)% (58)% (70)% (20)% Source: Internal data 6 Note: Some numbe
Slide 7: KPI – RoW
KPI – RoW 2019 2020 YoY ROAS (%) Referral Revenue (€mm) 115% 123% 119% 112% 88.8 44.9 27.2 2.5 Q2 H1 Q2 H1 8 ppts (7) ppts (94)% (69)% Qualified Referrals (mm) RPQR1 (€) 89.3 0.96 0.99 0.74 46.9 36.6 0.32 7.9 Q2 H1 Q2 H1 (83)% (59)% (67)% (25)% Source: Internal data 7 Note: Some numbers may not add
Slide 8: Our Advertiser mix: Expedia's share declined significantly in Q2 2020
Our Advertiser mix: Expedia’s share declined significantly in Q2 2020 Advertiser revenue share as % of Referral Revenue 24% 25% 27% All Others 38% 39% 54% Booking Holdings 38% 36% 19% Expedia Group Q2 2018 Q2 2019 Q2 2020 Source: Internal data 8
Slide 9: Recovery in Germany is taking place at different paces
Recovery in Germany is taking place at different paces Percentage of prior year referrals in Germany by destination type I. Limited travel II. Some recovery III. Significant recovery 100% +75 pp +58 pp +44 pp 0% April May June July April May June July April May June July International trips City tri
Slide 10: Total cash level increased by €19.8m to €213.7m in Q2 2020
Total cash1 level increased by €19.8m to €213.7m in Q2 2020 +19.8 213.7 (1.4) (0.2) 193.9 42.6 (20.2) (1.1) Thereof €51.6m due to reduction of Account receivables Total cash end Net Adjustments Changes Investing Financing Total cash end of Q1 2020 loss (non-cash) in NWC activities and FX of Q2 2020
Slide 11: Appendix
Appendix 11
Slide 12: Consolidated Financials YTD 2020, trivago N.V.
Consolidated Financials YTD 2020, trivago N.V. in € thousands YTD 2020 YTD 2019 Δ€ Δ% Referral Revenue 150,597 424,912 (274,315) (64.6) % Other revenue Total revenue 5,338 155,935 7,702 432,614 (2,364) (276,679) (30.7) % (64.0) % Comments Cost of revenue 5,468 3,980 1,488 37.4 % % of total revenue 3
Slide 13: Consolidated Financial Information YTD 2020, trivago N.V.
Consolidated Financial Information YTD 2020, trivago N.V. in € thousands YTD 2020 YTD 2019 Δ€ Δ% Referral Revenue 150,597 424,912 (274,315) (64.6) % 1 Other revenue Total revenue 5,338 155,935 7,702 432,614 (2,364) (276,679) (30.7) % (64.0) % 2 Comments Cost of revenue, excluding SBC 5,348 3,842 1,5
Slide 14: Reconciliation of non-GAAP Financial Measures YTD 2020
Reconciliation of non-GAAP Financial Measures YTD 2020, trivago N.V. in € thousands YTD 2020 YTD 2019 Δ€ Δ% Net incom e/(loss) (234,424) 13,737 (248,161) n.m . Income/(loss) from equity method investment 213 129 84 65.1 % Incom e/(loss) before equity m ethod investm ent (234,637) 13,608 (248,245) n.
Slide 15: Consolidated Financials Q2 2020, trivago N.V.
Consolidated Financials Q2 2020, trivago N.V. in € thousands Q2 2020 Q2 2019 Δ€ Δ% Referral Revenue 13,882 219,936 (206,054) (93.7) % Other revenue Total revenue 2,250 16,132 3,716 223,652 (1,466) (207,520) (39.5) % (92.8) % Comments Cost of revenue 2,654 2,079 575 27.7 % % of total revenue 16.5 % 0
Slide 16: Consolidated Financial Information Q2 2020, trivago N.V.
Consolidated Financial Information Q2 2020, trivago N.V. in € thousands Q2 2020 Q2 2019 Δ€ Δ% Referral Revenue 13,882 219,936 (206,054) (93.7) % 1 Other revenue Total revenue 2,250 16,132 3,716 223,652 (1,466) (207,520) (39.5) % (92.8) % 2 Comments Cost of revenue, excluding SBC 2,584 2,005 579 28.9
Slide 17: Reconciliation of non-GAAP Financial Measures Q2 2020
Reconciliation of non-GAAP Financial Measures Q2 2020, trivago N.V. in € thousands Q2 2020 Q2 2019 Δ€ Δ% Net incom e/(loss) (20,158) 5,909 (26,067) n.m . Income/(loss) from equity method investment (21) 39 (60) n.m. Incom e/(loss) before equity m ethod investm ent (20,137) 5,870 (26,007) n.m . Expen
Slide 18: Consolidated Statement of Cash Flows YTD 2020
Consolidated Statement of Cash Flows YTD 2020, trivago N.V. in € thousands YTD 2020 YTD 2019 Net incom e/(loss) (234,424) 13,737 1 Adjustm ents to reconcile net incom e/(loss) to net cash provided by/(used in): Depreciation 5,626 4,819 Comments Amortization of intangible assets 361 842 Goodw ill imp
Slide 19: Consolidated Statement of Cash Flows Q2 2020
Consolidated Statement of Cash Flows Q2 2020, trivago N.V. in € thousands Q2 2020 Q2 2019 Net incom e/(loss) (20,158) 5,909 1 Adjustm ents to reconcile net incom e/(loss) to net cash provided by/(used in): Depreciation 3,044 2,649 Comments Amortization of intangible assets 36 421 Goodw ill impairmen
Slide 20: Consolidated Balance Sheet Q2 2020
Consolidated Balance Sheet Q2 2020, trivago N.V. in € thousands As of As of Jun 30, 2020 Dec 31, 2019 Cash and cash equivalents Restricted cash 211,260 103 218,106 122 1 Comments Accounts receivable, less allow ance 9,529 37,747 2 Accounts receivable, related party 2,445 31,139 1. 1 Cash and cash eq
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