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Hostelworld Group PLC - Interim Financial Report For the half year ended 30 June 2021 H HOSTELWORLD GROUP Hostelworld Group plc ( " Hostelworld ” or the “ Group ” or the “ Company ” ) Interim Results 2021 H1 2021 in line with expectations ; modest increase in bookings in recent weeks in line with the easing of travel restrictions 11 August 2021 : Hostelworld , a leading global Online Travel Agent ( OTA ) focused on the hostel market , is pleased to announce its interim results for the period ended 30 June 2021 Financial highlights¹ • Net revenue of € 2.9m in H1 2021 , a decline of 76 % ( H1 2020 : € 12.0m ) . On a quarterly basis , net revenue in Q1 2021 was € 0.9m ( Q1 2020 : € 12.0m ) and in Q2 2021 € 2.0m ( Q2 2020 : € 0.0m ) • Total Group net bookings decline of 73 % ( H1 2020 : 67 % ) . Net booking volume decline from 1.1m to 0.3m , with cancellations € 0.8m ( H1 2020 : € 5.4m ) . On a quarterly basis , net bookings in Q1 2021 were 0.1m ( Q1 2020 : 1.1m ) and in Q2 2021 0.2m ( Q2 2020 : 0.0m ) • Net Average Booking Value ( " ABV ” ) of € 11.72 ( H1 2020 : € 9.45 ) , reflecting favourable geographic mix , and higher number of bed nights per booking • Total H1 2021 marketing costs of € 2.4m were 64 % of net revenue ( excluding deferred revenue ) , ( H1 2020 : € 7.5m , 76 % ) • Administrative expenses reduced by 43 % to € 13.5m in H1 2021 ( 2020 : € 23.7m ) • Adjusted EBITDA loss of € 9.7m ( H1 2020 : € 8.3m loss ) • Basic loss per share of 17.50 € cent ( H1 2020 basic loss per share : 18.60 € cent ) ² Balance sheet and cash flow : • Closing cash position € 33.7m ( H1 2020 : € 32.9m ) • Adjusted free cash flow ( 101 % ) , ( H1 2020 : ( 33 % ) ) • Customer deposits related to bookings made under the free cancellation policy amounted to € 1.1m ( H1 2020 : € 0.6m ) • Cash dividends for 2021 remain suspended 1 The Group uses Alternative Performance Measures ( ' APMs ' ) which are non - IFRS measures to monitor the performance of its operations and of the Group as a whole . These APMs along with their definitions and reconciliations to IFRS measures are provided in the APMs section on pages 35 and 36 . 2 The H1 2020 earnings per share figures have been restated to incorporate the 1,636,252 new Hostelworld Group ordinary shares that were issued in September 2020. The weighted average number of shares in issue during the period was adjusted to include these bonus shares as if they were issued 1 January 2020 . 1