HomeToGo (HTG) Guidance summary

Opening remarks and agenda

• Announced the successful acquisition of Interhome, positioning the group as Europe's leading vacation rental company and introducing updated 2025 financial guidance.

• Presented updated 2025 financial guidance and discussed the strategic impact of the Interhome acquisition.

• Outlined the agenda: strategic repositioning, Interhome business overview, and updated financial guidance for 2025.

• Agenda included company positioning, acquisition details, financial outlook, and closing remarks.

Guidance on key objectives

• Pro forma IFRS revenues for 2025 are forecast at approximately €400 million, nearly 150% higher than 2023 standalone revenues, with adjusted EBITDA expected to triple to around €40 million and margin expanding to about 10%.

• Statutory 2025 guidance (including Interhome from August 28) is €260 million in revenues, €11 million adjusted EBITDA, and negative free cash flow due to seasonality.

• Over 60% of 2025 revenue is expected from recurring B2B streams, with HomeToGo_PRO as the main profit driver.

• Free cash flow is projected to be positive on a pro forma basis but negative on a statutory basis due to seasonal cash outflows post-acquisition.

• Guidance for booking revenues is discontinued, aligning with the strategic shift to B2B; 2026 guidance will be provided with the 2025 annual report in March 2026.

Market trends and strategic opportunities

• The European vacation rental market is highly fragmented, with significant potential for consolidation and M&A, and is expected to grow due to regulatory trends and demographic shifts.

• Growing trend of owners shifting from self-management to professional management services, and increasing online bookings.

• Younger generations are converting family properties into income-generating vacation rentals, expanding the serviceable market.

• Interhome acquisition positions the group as a leading player with a diversified, exclusive property portfolio and high recurring revenue.