HomeToGo (HTG) Q2 2025 earnings summary

Executive summary

• Achieved record IFRS revenues in Q2/25, with 11% year-over-year growth to €58.7M, and more than tripled adjusted EBITDA, driven by strong performance in both Marketplace and HomeToGo_PRO segments.

• Free cash flow improved by over 51% year-over-year in H1/25, with cash position rising to €152M at Q2/25 end, supported by disciplined cost control and capital increase.

• HomeToGo Payments adoption accelerated, processing 30% of onsite GBV in H1/25, and surpassing 2024's total processing volume by over 20%.

• Strategic acquisitions and partnerships, including ferienhaus.de and expanded Vrbo integration, enhanced market position and organic visibility.

• Maintained high confidence in achieving full-year 2025 targets, supported by an all-time high booking revenues backlog and strong peak season performance.

Financial highlights

• Q2/25 IFRS revenues reached €58.7M (+11% YoY), setting a new Q2 record, with booking revenues at €65.5M (+2.7% YoY).

• Adjusted EBITDA for Q2/25 surged to €7.4M (margin 12.6%), more than tripling year-over-year.

• Free cash flow improved by 52% YoY in H1/25, reaching €8.8M in Q2/25, and cash position stood at €152M at Q2 end.

• Booking revenues backlog reached an all-time Q2 high of €84M (+25% YoY), providing strong visibility for H2/25.

• Net loss in Q2/25 was €(4.2)M, a 33.4% YoY improvement.

Outlook and guidance

• FY/25 guidance (excluding Interhome): booking revenues >€270M (+4% YoY), IFRS revenues >€230M (+8% YoY), adjusted EBITDA >€19M (+48% YoY), and positive free cash flow.

• FY/26: booking revenues (including Interhome) expected to exceed €400M, with significant increases in IFRS revenues and adjusted EBITDA.

• Management remains confident in mid-term growth and synergy potential post-Interhome consolidation.