HomeToGo SE: HomeToGo Reports Impressive Finish to 2022 - IFRS Revenues Slightly Surpass Upgraded Full Year Guidance
EQS-News: HomeToGo SE / Key word(s): Preliminary Results
HomeToGo Reports Impressive Finish to 2022 - IFRS Revenues Slightly Surpass Upgraded Full Year Guidance
Luxembourg, 1 March 2023 - HomeToGo SE (Frankfurt Stock Exchange: HTG), the marketplace with the world's largest selection of alternative accommodation, today released preliminary figures for the full year 2022. The Company announced that FY/22 IFRS Revenues grew 54% YoY to EUR 146 million (vs. EUR 95 million in FY/21). This slightly surpasses HomeToGo’s upgraded guidance - around the higher end of a range of EUR 141-146 million - and is well ahead of the initial 2022 guidance of EUR 120-125 million. The preliminary, underlying Adjusted EBITDA is expected to be at EUR (21) million (vs. the upgraded Adjusted EBITDA in the (20) - (25) million range and the initial Adjusted EBITDA in the EUR (25) - (35) million range).
HomeToGo had previously announced on 18 January 2023 a record Booking Revenues Backlog of EUR 32 million at the start of 2023, growing 72% YoY (vs. EUR 19 million at the start of 2022), reinforcing its confidence in achieving Adjusted EBITDA break-even in 2023.
Dr. Patrick Andrae, Co-founder & CEO of HomeToGo: “In the last quarter of 2022 we had our full focus on the upcoming booking high season, as already demonstrated by our record Booking Revenues Backlog for 2023. We’re proud to have concluded 2022 with IFRS Revenues and Adjusted EBITDA around the upper end of our upgraded guidance, improving profitability whilst already building momentum for 2023. Our Onsite business has grown to now be almost the total size of HomeToGo in 2019 in terms of IFRS Revenues and the strong increase in Subscriptions & Services IFRS Revenues was an even better than anticipated finish to the year. Looking ahead and based on the continued strong trading in the first two months of the year, we are very confident we will achieve Adjusted EBITDA break-even in 2023."
In 2022, HomeToGo continued to deliver strong business growth across key pillars, which are reflected in its preliminary results. The Company more than doubled its Onsite IFRS Revenues to EUR 67 million, increasing by 111% YoY (vs. EUR 32 million in FY/21) as more travelers booked offers directly on the HomeToGo domains. The Company’s Subscriptions & Services business grew to EUR 24 million, increasing by 169% YoY (vs. EUR 9 million in 2021) and notably growing 517% Yo3Y (vs. EUR 4 million in FY/19). Subscriptions & Services accounts for 16% of total IFRS Revenues in 2022 and exemplifies the strong contributions from its portfolio, including its B2B SaaS solution Smoobu.
With this impressive finish to FY/22, an excellent start to 2023 with a record Booking Revenues Backlog and strong traction on trading in the first two months, HomeToGo continues to be very confident to achieve Adjusted EBITDA break-even in 2023. An outlook for the financial year 2023 will be released with the publication of the Annual Report for the fiscal year 2022 on 30 March 2023.
Disclaimer: All financial figures stated in this press release are preliminary and unaudited and may be subject to change. HomeToGo will publish the financial results for the Full Year 2022 and Q4 on 30 March 2023. For more information, please visit the Company’s investor relations website: ir.hometogo.de.
HomeToGo was founded in 2014 with a vision to make incredible homes easily accessible to everyone. To pursue this vision, HomeToGo was able to build and constantly grow a trusted and easy-to-use technology platform that brings together property suppliers with travelers from all across the world.
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 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
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Certain statements contained in this release may constitute "forward-looking statements" that involve a number of risks and uncertainties. Forward-looking statements are generally identifiable by the use of the words "may", "will", "should", "plan", "expect", "anticipate", "estimate", "believe", "intend", "project", "goal" or "target" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are based on assumptions, forecasts, estimates, projections, opinions or plans that are inherently subject to significant risks, as well as uncertainties and contingencies that are subject to change. No representation is made or will be made by HomeToGo SE that any forward-looking statement will be achieved or will prove to be correct. The actual future business, financial position, results of operations and prospects may differ materially from those projected or forecast in the forward-looking statements. Neither HomeToGo SE nor any of their respective affiliates assume any obligation to update, and do not expect to publicly update, or publicly revise, any forward-looking statements or other information contained in this release, whether as a result of new information, future events or otherwise, except as otherwise required by law.
Non-IFRS and Other Financial and Operating Metrics
Adjusted EBITDA: Net income (loss) before (i) income taxes; (ii) finance income, finance expenses; (iii) depreciation and amortization; adjusted for (iv) expenses for share-based compensation and (v) one-off items. One-off items relate to one-time and therefore non-recurring expenses and income outside the normal course of operational business. Among others those would include for example income and expenses for business combinations and other merger & acquisitions (M&A) activities, litigation, restructuring, government grants and other items that are not recurring on a regular basis and thus impede comparison of the underlying operational performance between financial periods.
Booking Revenues: Non-IFRS operating metric to measure intra-month performance view defined as net Euro value of the commission generated by transactions (CPA, CPC, CPL etc.) before cancellation.
Onsite Booking: Where the complete transaction from discovery to payment happens on HomeToGo domains without the user being referred to a third party supplier website.
 Booking Revenues generated in 2022 or prior with IFRS Revenues recognition in FY2023, incl. SECRA and e-domizil
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