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Georg Hesse (CEO) - Dr Dirk Schmelzer (CFO)
4 May 2016
Final results Q1 2016
Challenges Q1:
• German and Dutch package markets with bookings approx. -10% in Q1 2016
• Terror attacks in March (France, Turkey and Belgium)
• Resulting in high cancellation rate
Challenges Q1 2016 – German and Dutch package markets with 10% decrease
4 May 2016 2Final results Q1 2016 | Hesse & Schmelzer
Final results Q1 2016 – HolidayCheck with strong growth in market share in a weak package holiday market segment
4 May 2016 3
• Revenue Q1 2016 is (1.0)% vs. Q1 2015
• HolidayCheck revenue is +1%
• WebAssets revenue is (10)% due to sale of OTA business and termination of B2Bbusiness at WeerOnline;
• Operating EBITDA below previous year
Strong balance sheet (31 March 2016):
• Debt free
• Net cash of EUR 34 million
• Equity ratio of 85 percent
Operating EBITDA: EUR 0.4 millionRevenue: EUR 30.1 million
Final results Q1 2016 | Hesse & Schmelzer
Improvements Q1:
• HolidayCheck continues to take market share in a weak German package holiday market segment
• The new IT platform performing well
• Introduction of new features, e.g. forum, mobile homepage
• The Number of A/B-tests is 8x higher compared to Q1 2015
Improvements Q1 2016 – HolidayCheck with strong growth in market share in a weak package holiday market segment
4 May 2016 4Final results Q1 2016 | Hesse & Schmelzer
Local competitors have a significant media spend but HolidayCheckmaintains high traffic generator due to strong brand position
Gross off-line media spend in the travel industry, Q1 2016In EUR million
• HolidayCheck with
comparatively low
off-line media spend
• HolidayCheck still
with high traffic
performance due to
strong SEO traffic
and brand position
Local players Global players
Source: Nielsen
UnisterUnister
0
5
10
15
20
25
30
5Final results Q1 2016 | Hesse & Schmelzer
Local players with high
media spend
Global players with
low DACH focus
4 May 2016
Final results Q1 2016 | Hesse & Schmelzer 6
Monthly growth rate Q1 2016 package holiday bookings HolidayCheck vs German package market in % vs. PY; source: Traveltainment
The German package market in Q1 2016 approx. -10% yoy –HolidayCheck outperforms again in difficult market
Key success factors of HolidayCheck
• Focus on customer satisfaction
• Content and search engine optimization (SEO as key assets)
• Disciplined spending in off-line marketing as well as in search engine marketing (SEM) by offering vouchers as an alternative marketing tool to attract existing and new customers
4 May 2016
0%
5%
10%
15%
20%
Jan 16 Feb 16 Mar 16
Final results Q1 2016 | Hesse & Schmelzer 7
Growth rate of reviews Q1 2016 vs Q1 2015
Review growth on HC and Zoover Q1 2016 vs Q1 2015
4 May 2016
+ 54%+ 23%
New HolidayCheck logo went live last week
Final results Q1 2016 | Hesse & Schmelzer 8
old logoLogoLogo new logoLogoLogo
4 May 2016
• First logo rebrush after more than 10 years
• New logo was the winner in a user test
• As the HolidayCheck rating consists of six suns the new logo also contains six suns instead of 5 stars
• So far we see really positive feedback by users as well as by our employees
New user forum went live
Final results Q1 2016 | Hesse & Schmelzer 9
old site new site
4 May 2016
ForumForum ForumForum
New HolidayCheck mobile homepage went live
Final results Q1 2016 | Hesse & Schmelzer 10
old site new site
4 May 2016
Mobile
home-
page
Mobile
home-
page
Mobile
home-
page
Mobile
home-
page
Financial KPI‘s
11Final results Q1 2016 | Hesse & Schmelzer 4 May 2016
Group figures TOMORROW FOCUS AG (IFRS) - no segmentation
12Final results Q1 2016 | Hesse & Schmelzer
In EUR million Q1 2016 Q1 2015Change
(in %)
1 Revenue 30.1 30.4 (1.0)
2Operating EBITDAOperating EBITDA margin
0.41.3%
3.611.8%
(88.9)-
3EBITDAEBITDA margin
0.73.3%
1.85.9%
(61.7)-
4 Depreciation (1.3) (1.6) -
5EBITEBIT margin
(0.7)(2.3)%
0.20.7%
--
6 Financial result 0.0 (0.3) -
7EBTEBT margin
(0.7)(2.3)%
(0.1)0.3%
--
8 EAT of continued operations (0.7) (0.8) -
9 EAT of discontinued operations 0.5 (0.1) -
10 EAT (0.3) (0.8) -
11 EPS of continued operations (in EUR) (0.01) (0.01) 0.0
12 EPS (in EUR) 0.00 (0.01) -
4 May 2016
TOMORROW FOCUS is debt free – net cash position of EUR 34 million
Equity ratio vs. debt ratio 2011 – Q1 2016
In percent
52.4 41.3 52.1 53.776.3 84.5
47.6 58.7 47.9 46.323.7 15.5
0%
20%
40%
60%
80%
100%
12 2011 12 2012 12 2013 12 2014 12 2015 Q1 2016
Equity ratio Debt ratio
Maturity of bank loans 2016 - 2020
In EUR million
13
Earn-outs and put-calls 2016 - 2020
In EUR million
TOMORROW FOCUS AG with strong balance structure and cash position
Final results Q1 2016 | Hesse & Schmelzer
02468
101214161820
2016 2017 2018 2019 2020
As of the end of Q1 2016 weare debt free
0.0 0.0 0.5 0.0 0.002468
101214161820
2016 2017 2018 2019 2020
4 May 2016
As of the end of Q1 2016 almost all earn-outs and put-calls are paid back
Outlook
14Final results Q1 2016 | Hesse & Schmelzer 4 May 2016
HolidayCheck Group AG
Final results Q1 2016 | Hesse & Schmelzer 15
The AGM agenda will include a proposal to rename the company in HolidayCheck Group AG
4 May 2016
Our vision: build the most Urlauber*-friendly company in the world
Final results Q1 2016 | Hesse & Schmelzer 16
* Urlauber [uːɐlaʊbɐ] is the German term for vacationer, holiday-maker
4 May 2016
• Offer full range around the needs of the Urlauber
• Build on core values of the group: trust,
reliability, transparency
• Create continuous customer experience on all devices
• Long-term customer-centric culture of continuous innovation
• M&A: Build where we can, buy where we need
• 2016: we stick to our guidance
Outlook/ next
steps
Appendix
17Final results Q1 2016 | Hesse & Schmelzer 4 May 2016
Final results Q1 2016 | Hesse & Schmelzer 18
* Urlauber [uːɐlaʊbɐ] is the German term for vacationer, holiday-maker
4 May 2016
Our assets are uniquely positioned to innovate around connecting customers with their desired vacation
Opportunity
� Technology: Cost for machine & advanced data analysis are decreasing, an opportunity to leverage our unique data set for improved personalized recommendations.
� Customer Needs: The majority of DACH customers still book their package vacation offline. Still too much complexity in choosing the perfect vacation. Multi-device usage.
Capabilities
� Urlauber*-centric DNA: The Group assets share a history of “Urlaubers for Urlaubers” platforms and a DNA of customer centricity
� Strenghts: Our assets have trusted and established brands for content and interaction focused on short-haul warm water package vacations
� Capabilities: Assets share core capabilities around connecting customers and around finding, recommending and validating the perfect vacation
Way Forward
� Focus: We are not about travel, we are about vacation. Specifically we make choosing and booking a vacation trivially easy for convenience vacation customers, customers that don’t want to become different people through their vacation but the same people, just happier and more relaxed.
� Geography: We focus on DACH-BENELUX markets. We are leveraging our trusted brands, and will deep dive into local customer needs and the complexity of the local industry.
� Growth Engine: Product expansion and active targeting of offline customers leveraging improved content, interaction and personalization.
Financial calendar 2016*
* Provisional dates
Final results Q1 2016 | Hesse & Schmelzer 194 May 2016
Date Event Location
10 May 2016 Goldman Sachs European Small- and Mid-Cap Symposium London, UK
16 June 2016,
11 a.m. CET
Annual General Meeting Haus der Bayerischen Wirtschaft,
Max-Joseph-Str. 5, Munich, Germany
5 August 2016 Publication of the Interim Report for 2Q 2016 (German version) Munich, Germany
8/9 September 2016 db Access European TMT Conference London, UK
20 September 2016 Berenberg & Goldman Sachs German Corp. Conference 2015 Munich-Unterschleißheim, Germany
8 November 2016 Publication of the Interim Report for 3Q 2016 (German version) Munich, Germany
November 2016 Corporate presentation at the German Equity Forum 2016 Frankfurt, Germany
TOMORROW FOCUS AG | Neumarkter Str. 61 | 81673 Munich, Germanywww.tomorrow-focus.dewww.twitter.com/tomorrowfocus
Contact
Dirk SchmelzerChief Financial Officer+ 49 (0)89 [email protected]
Final results Q1 2016 | Hesse & Schmelzer 20
Armin Blohmann Head of Group Communications & IR+49 (0)89 [email protected]
Georg HesseChief Executive Officer+ 49 (0)89 [email protected]
4 May 2016
Disclaimer
21
This presentation contains 'forward looking statements' regarding TOMORROW FOCUS AG or TOMORROW FOCUS GROUP,including opinions, estimates and projections regarding TOMORROW FOCUS AG’s or TOMORROW FOCUS GROUP’s financialposition, business strategy, plans and objectives of management and future operations. Such forward looking statements involveknown and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievementsof TOMORROW FOCUS AG or TOMORROW FOCUS GROUP to be materially different from future results, performance orachievements expressed or implied by such forward looking statements.These forward looking statements speak only as of the date of this presentation and are based on numerous assumptions which mayor may not prove to be correct.No representation or warranty, express or implied, is made by TOMORROW FOCUS AG or TOMORROW FOCUS GROUP withrespect to the fairness, completeness, correctness, reasonableness or accuracy of any information and opinions contained herein.The information in this presentation is subject to change without notice, it may be incomplete or condensed, and it may not contain allmaterial information concerning TOMORROW FOCUS AG or TOMORROW FOCUS GROUP.TOMORROW FOCUS undertakes no obligation to publicly update or revise any forward looking statements or other information statedherein, whether as a result of new information, future events or otherwise.
Final results Q1 2016 | Hesse & Schmelzer 4 May 2016