Lastminute com N : Q3 RESULTS – 2023

lastminute.com

Q3 2023 Results

Luca Concone	Sergio Signoretti
Chief Executive Officer	Chief Financial Officer

lastminute.com Q3 23 Results | 2

Safe Harbour Statement

The material in this presentation has been prepared by lastminute.com N.V. and reports general background information about lastminute.com activities as at the date of this presentation. This information is given in summary form and does not purport to be complete. Information in this presentation, including forecast financial information, should not be considered as financial, legal, business, investment, tax or other professional advice or a recommendation to investors or potential investors in relation to holding, purchasing or selling securities or other financial products or instruments and does not take into account your particular investment objectives, financial situation or needs.

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, and nothing contained in this presentation is or can be relied upon as a promise or representation by lastminute.com N.V. We shall have no liability whatsoever (in negligence or otherwise) arising directly or indirectly from the use of this presentation or its contents (including forward-looking statements), including but not limited to any liability for errors, inaccuracies, omissions or misleading statements in this presentation. We have not authorized any other person to provide recipients with any other information related to lastminute.com N.V., and we will assume no responsibility for any information other persons may provide.

This presentation speaks as at the date set out on herein and lastminute.com N.V. does not assume any obligation to update the content therein. This presentation may contain forward looking statements including statements regarding our intent, belief or current expectations with respect to lastminute.com businesses and operations, market conditions, results of operation and financial condition, capital adequacy, specific provisions and risk management practices. Readers are cautioned not to place undue reliance on these forward looking statements. lastminute.com N.V. does not undertake any obligation to publicly release the result of any revisions to these forward looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events. While due care has been used in the preparation of forecast information, actual results may vary in a materially positive or negative manner. Forecasts and hypothetical examples are subject to uncertainty and contingencies outside lastminute.com N.V.control. Past performance is not a reliable indication of future performance.

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. This presentation or the information contained therein is not being issued and may not be distributed in the United States of America, Canada, Australia, Japan or any other jurisdiction where action would be required for any distribution and does not constitute an offer of securities for sale in any jurisdiction.

lastminute.com Q3 23 Results | 3

Agenda

	01	Intro and Highlights
			L. Concone
	02		Q3 2023 results
			S. Signoretti
03	September YTD results
		S. Signoretti
04	Guidance FY 2023 and beyond
	L. Concone
05	Q&A

Agenda

01

Intro and Highlights

L. Concone

Market Update Flights in September 2023 closed at -9% of 2019 levels

Recovery curve continues with a slight uptick in Q3, albeit still below 2019 levels

2019	JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP

2022

2023

European Commercial Flight Activity* - Delta Actual vs. 2019 level

Source: elaboration based on Eurocontrol / Eurostat data

(*) Commercial Flight Activity includes low-cost, mainline and regional segments.	lastminute.com Q3 23 Results | 6

Operational & strategic highlights September YTD

Growth of the

Dynamic Package

Business

• 50% vs 2022 in terms of revenues and gross profit
• 11 new markets added in 2023, totalling 28

Improved

representation of

company

performance

• EBITDA adjusted includes

cancellations and vouchers related effects

• Representation of our business from a B2C and B2B perspective

Cancellations	B2B Affiliation and	Strengthening of
Comarketing	the Leadership
impacts
business improved	Team
neutralised
significantly
Improved DP	+ 50% vs 2022 in	• New Chief
Pricing engine	terms of Gross	Marketing Officer
to generate extra	Profit	• New Chief People
revenue offsetting		Officer
cancellations		• New Chief Special
		Projects

lastminute.com Q3 23 Results | 7

New Adjusted EBITDA all in with Cancellations & Voucher misredemption effect included

Representation of our business through B2C/B2B views

Proven B2C platform coupled with strong B2B capabilities

Q3 2023

1

● OTA main categories (DP, Flight

only, Hotel only, TO)

GTV (€m)	815
Revenues (€m) total	81.4
Gross profit	32.5

CX & Voucher misredemption

effect reallocated at

Gross Profit level

B2C

(Brand strategy, Mktg perf, APP)

2

●	CRUISE business
● OTHER (other OTA minor
	categories such as experience,
	E/Commerce comarketing)
●	DP WL
●	WL NO TRAVEL

PY effects	0.7
ADJUSTED EBITDA Net of CX	12.5	Only one

ADJUSTED EBITDA

B2B

(B2B2C, META,

MEDIA)

●	META business
●	MEDIA
●	Affiliation and Comarketing
	(Affiliation, Corporate Benefit, Gift
	Cards on other websites, Promotion)

lastminute.com Q3 23 Results | 8

Agenda

02

Q3 2023 results

S. Signoretti

Q3 2023 | Focus on profitable growth driven by DP

		ADJ. EBITDA	DYNAMIC
GTV	REVENUES*	PACKAGES
	Gross profit share**

-4% vs. 2022	+3% vs. 2022	+63% vs. 2022	49% Gross
Substantially in line vs	Revenues grow vs LY	Adjusted EBITDA	Profit share
Dynamic Package
LY with higher DP GTV	driven by DP (+ 46%	showed strong
share kept growing vs
(+36%) driven by	vs 2022)	growth
2022 (increasing its
higher volumes (+26%
		weight by 11pp
DP Bookings vs Q3
		compared to Q3
2022)
		2022)

* Managerial figures including B2B and B2C segments. A few B2B business such as META and MEDIA do not generate bookings.	lastminute.com Q3 23 Results |10
** Gross margin Margin includes both variable revenue and costs.