Slides
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Q1 2025 financial results Q12025
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Chief Financial Officer Diego FiorentiniAlessandro Petazzi Chief Executive Officer Presenters
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Safe Harbour Statement The material in this presentation contains forward-looking statements such as projections, forecasts, and estimates. Such forward-looking statements involve certain risks and uncertainties that could cause actual results, performance, or events to differ materially from those anticipated in this presentation. The forward-looking statements contained in this presentation are based on the current views and assumptions of lastminute.com N.V. lastminute.com N.V. does not assume any obligation to update or supplement this presentation. lastminute.com N.V. doesn’t make any representation or warranty (express or implied) whatsoever as to the accuracy, completeness or sufficiency of any information contained herein. This presentation does not constitute an advertisement, offer, recommendation or invitation to purchase securities in any jurisdiction. It is for information purposes only and does not constitute a prospectus within the meaning of Art. 35 et seq. of the Federal Act on Financial Services (FinSA) or similar legislation in other jurisdictions. lastminute.com N.V has not taken any actions to allow the distribution of this presentation in any jurisdiction where action would be required for such purposes. 3
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Strategic directionAlessandro Petazzi Q1 2025 resultsAlessandro Petazzi & Diego Fiorentini 01 02 04 03Key takeaways & 2025 guidanceAlessandro Petazzi Financial Calendar 2025Julia Weinhart Agenda
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Strategic direction: leveraging our assets to grow even stronger Strengthening market presence 5 Brand portfolio focus Travel companion Dynamic Packages Evolution PRODUCT BUSINESS 4 core drivers
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Strategic directionAlessandro Petazzi Q1 2025 resultsAlessandro Petazzi & Diego Fiorentini 01 02 04 03Key takeaways & 2025 guidanceAlessandro Petazzi Financial Calendar 2025Julia Weinhart Agenda
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Q1 2025 performance Profitability driven by solid Packages and Flights performance 7 +7% vs. Q1 2024 Packages +7% Flights +8% GTV +14% vs. Q1 2024 Packages +17% Flights +8% REVENUES* +14% vs. Q1 2024 Packages +15% Flights +14% GROSS PROFIT Adj. EBITDA €14.4M +56% vs. Q1 2024 NET RESULT €6.5M vs. €2.6M Q1 2024 7(*) REVENUES, defined as the ordinary margins generated through the sale of travel services (together with ancillaries, over commissions, kickback and other indirect revenue), including the negative effects coming from the cancellation of bookings and the other income from the voucher misredemption. They are also defined as managerial revenues.
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Gross profit€m Revenues€m +14% Gross Margin 43.3% 43.1% 8 Double-digit growth in Revenues and Gross Profit 2025 vs 2024 2025 vs 2024 +17% +8% +11% (5%) +15% +14% +20% (9%) +14%
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Q1 2025 Q1 2024 Delta % Total Costs (74.9)(69.1)8% Variable Costs (50.6)(44.6)13% Marketing and Sales costs (35.4)(29.8)19% Other variable costs (15.2)(14.8)3% Fixed Costs (24.3)(24.5)(1%) HR Costs (16.4)(15.7)4% Operating Costs (7.9)(8.8)(10%) Cost Structure Balanced cost management with continued strategic marketing investments Q1 2025 €m Q1 2024 9 * Compared to previous quarters, cost disclosures have been restated to better align with the company’s current operational structure 67% Variable Costs 64%
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Profit and Loss €m Revenues grew positive across all channels, with Gross Profit increasing in line and maintaining stable marginality. Growth was broad-based, with robust core market performance and even faster growth in Tier 2 markets. Adjusted EBITDA rose 56% to €14.4M from €9.3M in Q1 2024, driven by improved efficiency, margin expansion, and cost leverage from a higher-margin business model and disciplined execution. EBIT €4.0M above Q1 2024 following EBITDA upside despite higher D&A due to the go-live of capitalised projects. Net Result benefits from higher EBIT and better management of financial items. Additionally, it was positively impacted by the reduction in the corporate income tax (CIT) rate in Switzerland. EPS at €0.61 improved compared to last year driven by higher Net Results benefitting from the accretive effect of the share buyback initiated last November. 10 Q1 2025 Q1 2024 Delta % GTV 831 779 7% Revenues 89.2 78.4 14% Gross Profit 38.7 33.8 14% % on Revenues 43.3%43.1%0.2pp Adjusted EBITDA 14.4 9.3 56% % on Revenues 16.2%11.8%4.4pp EBITDA 14.3 9.7 47% EBIT 9.4 5.4 75% Net result 6.5 2.6 149% Earnings /(loss) per share0.61 0.24 154%
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€m 11 NFP Bridge NFP / Gross Cash 62% 64% Free Cash Flow: +€7.2m Positive cash generation from the business, driven by strong EBITDA, despite negative change in Net Working Capital. Capex: is mainly linked to capitalised HR costs and other tech assets. Equity movements: include Dividend payment and Share buy back. Bridge NFP rolling 12 months - Mar 2024 to Mar 2025NFP increase driven by EBITDA despite negative change in NWC
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Strategic directionAlessandro Petazzi Q1 2025 resultsAlessandro Petazzi & Diego Fiorentini 01 02 04 03Key takeaways & 2025 guidanceAlessandro Petazzi Financial Calendar 2025Julia Weinhart Agenda
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1313 Key Takeaways Q1 2025 results show a solid performance, with all core financial indicators trending positively. Actions remain closely aligned with the execution of the Group’s 4 strategic core drivers across all segments. lastminute.com is confident to meet the guidance outlined in March. Q1 2025 performance driven by continued strong contribution from Packages, with Flights also showing solid growth, supported by improved pricing strategies and broader ancillary portfolio.
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Guidance Revenues Adj. EBITDA Guidance FY 2025 1414 Management expects Revenues and Adjusted EBITDA to reach low double-digit growth in 2025 vs. 2024
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Strategic directionAlessandro Petazzi Q1 2025 resultsAlessandro Petazzi & Diego Fiorentini 01 02 04 03Key takeaways & 2025 guidanceAlessandro Petazzi Financial Calendar 2025Julia Weinhart Agenda
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Financial Calendar 2025 13 February 2025Announcement of preliminary unaudited FY2024 results 27 March 2025 Publication of the Annual Report 2024 Investor information: lastminute.com N.V. Listing: SIX Swiss Exchange Trading currency: CHF Ticker symbol: LMN ISIN: NL0010733960 Contact Information: Julia Weinhart Head of Investor Relations investor.relations@lastminute.com 16 Our coverage: Volker Bosse - Baader Bank Baptiste de Leudeville - Kepler Cheuvreux Ausano Crivelli Cajrati - ZKB Christian Salis - Hauck Aufhäuser Investment Banking 15 May 2025 Publication of Q1 2025 Trading Update 25 June 2025 Annual General Meeting 7 August 2025 Publication of H1 2025 Report 17-18 September 2025Investora Zurich Conference 22 September 2025Baader Investment Conference Munich 6 November 2025Publication of Q3 2025 Trading Update 25 November 2025Deutsches Eigenkapitalforum
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investor.relations@lastminute.com www.lastminute.com Thank you Q1 2025 financial results