Predict your next investment

INTERNET | Internet Software & Services / Travel
zoover.nl

See what CB Insights has to offer

Stage

Acquired | Acquired

About Zoover

Zoover is a hotel and holiday review portal for vacation reviews, pictures and videos taken by travelers of hotels, campsites, holiday parks, cruises, holiday homes and more. It is based in Amsterdam, Netherlands.On July 1, 2020, Zoover was acquired by Vakanties.nl. The terms of the transaction were not disclosed.

Zoover Headquarter Location

Nieuwe Looiersdwarsstraat 15-17

Amsterdam, 1017,

Netherlands

+31 20 299 34 48

Latest Zoover News

HolidayCheck : Company presentation at the 9th Berenberg & Goldman Sachs German Corporate Conference on 22 September 2020

Sep 23, 2020

0 Message : Corporate Conference 22 September 2020 Core business: Revenue: Commissions from sale of package tours and hotels, supplemented by advertising revenues USP: High organic traffic Revenue: Sale of package tours and hotel beds via HolidayCheck USP: Advanced technology and pricing model Business model: Online price comparison of rental cars Revenue: Commissions from rental car brokerage USP: Successful internationalization due to scalable technology Berenberg & Goldman German Corporate Conference 2020 4 Conversion optimization and holidaymaker-oriented sales and marketing to accelerate bookings. Wide range of third-party and own inventory with competitive pricing to accelerate bookings CUSTOMERS CRM measures, trusted brand and quality content to push usage and traffic Higher booking volumes to improve procurement conditions Berenberg & Goldman German Corporate Conference 2020 5 German-speaking holiday travel market Package travel is the most important way of travelling in the German-speaking holiday travel market. It accounted for ~40% (EUR ~27 billion) of the total holiday travel market* (EUR 68.2 billion) in 2019. Package travel is the preferred form of holiday travel across all age groups. Mostly because of security and budget reasons. Holiday trips in German-speaking market by pre-booked component, 2019 in EUR billion 68 Tours *Holiday travel +5 days of German speaking population over the age of 14, Travel analysis 2020 FUR - Forschungsgemeinschaft Urlaub und Reisen e.V.. Berenberg & Goldman German Corporate Conference 2020 6 Online penetration in package holiday The travel market is constantly shifting online. In 2019 more holiday trips were booked online than offline. Online penetration in package holiday is still low in comparison to other ways of travel and also in comparison to other countries (e.g. UK ~ 60%) Sales channels for holiday bookings >5 days, in percent 20092019 48 Ø44 Source: Travel analysis 2020 Forschungsgemeinschaft Urlaub und Reisen e.V ; Holiday travel +5 days of German speaking population over the age of 14; with pre-booking of at least one component; multiple answers possible. Berenberg & Goldman German Corporate Conference 2020 7 8 Current demand for holiday trips during COVID-19 crisis Demand for package tours remains significantly down yoy, however demand for hotel bookings (with own travel) has recovered to levels close to those of previous years Strong demand for destinations in DACH, subdued demand for destinations in the Mediterranean Holidaymakers mainly book last minute Offline travel agencies are hit harder by the crisis. Many brick-and-mortar travel agencies discontinue their business operations (TUI, Karstadt, STA, etc.). Market consolidation and further online shift expected. Overall, it is to be expected that the clearly subdued demand will continue until a functioning vaccination comes to market. Average sales requests per day:* Offline travel agencies: Berenberg & Goldman German Corporate Conference 2020 9 HolidayCheck during COVID-19 Many trips that were booked in 2019 and Q1 2020 had to be cancelled or rebooked in Q2 (already reflected largely in our Q1 figures) Recovering demand for the top 4 package travel destinations will have significant impact. Despite continuous booking restraint, interest in holidays trips is coming back which shows in recovering traffic. Also incoming reviews of holidaymakers who travelled during COVID-19 were mainly positive. Berenberg & Goldman German Corporate Conference 2020 Visits on holidaycheck.de, Reduction of costs and complexity Structural reduction of all costs (personnel and non- personnel) planned and implemented for the core brand HolidayCheck. Full focus on the core market DACH and significant reduction of complexity: Withdrawal from the Dutch market. Zoover and WeerOnline have been sold in July. Launch of new products to adapt to the new booking behaviour and demand of our customers. Berenberg & Goldman German Corporate Conference 2020 11 Personnel costs Approx. 100 employees affected; this corresponds to approx. 30% of the DACH business Full effect of structural savings to start in the next months, latest 2021 Termination of short-time-work (Kurzarbeit) for remaining employees to adjust the product and capture opportunities Marketing Other expenses Structured review and streamlining of all cost positions to reduce short- term cash drain and improve overall cost position Berenberg & Goldman German Corporate Conference 2020 12 To focus on the DACH region, the management sold its Dutch subsidiaries WeerOnline and Zoover Sale of MeteoVista B.V. to Infoplaza B.V.: With effect to 31.07.2020 Sale of Zoover B.V. to Vakantie.nl B.V.: With effect to 31 July 2020 Total net cash-in of approx. EUR 14 million supports liquidity situation, full focus of team and management on DACH region and reduction of complexity Berenberg & Goldman German Corporate Conference 2020 13 HolidayCheck Reisen offers customers package tours that fulfil current needs Cancellation up to 6 days prior departure free of charge Payment 6 days prior departure; no upfront payment required Berenberg & Goldman German Corporate Conference 2020 14 16 . * adjustments to the previous year's recognized revenues for travel in 2020 and directly related costs and impairments Berenberg & Goldman German Corporate Conference 2020 17 In EUR million Berenberg & Goldman German Corporate Conference 2020 18 Liquidity and new financing options Cash and cash equivalents at EUR 28.0 million as of 30 June 2020 (compared with EUR 27.5 million as of 31 December 2019) This includes working capital credit instrument of around EUR 20 million Sale of MeteoVista and Zoover resulted in a further cash inflow of EUR 14 million (not included in above mentioned cash position as of 30 June) We received a long-term loan in Q3 of EUR 12.5 million from the Swiss government (also not included in cash position as of 30 June) Additional long-term financing options currently being evaluated Berenberg & Goldman German Corporate Conference 2020 19 Outlook 2020 - our guess The willingness of holidaymakers to travel will remain at a low level, especially regarding package holidays and mid-/long-haul-destinations Short-termbooking behavior of customers expected Initial market shakeout among online and offline competitors Constant changes with short-term notice in market (e.g., new corona hotspots or quarantine rules) will continue to add complexity to the business and drive customer behavior Outlook 2021 - our guess A return to normal travel behavior and full hotel capacity might only be possible when a vaccine becomes available. Until then, the slow recovery might continue, bookings will happen; yet return to 2019 booking levels is not expected. Furthermore uncertainty in the market and among customers will persist. Further market concentration ahead. Lean cost structure will make HolidayCheck better prepared for upcoming challenges, earlier profitability and to capture upcoming opportunities. Beyond HolidayCheck had a full functioning business model pre COVID-19, that can come back to full performance when demand recovers. Berenberg & Goldman German Corporate Conference 2020 21 Guidance 2020 Based on our planning scenarios, we expect a significant decline in gross margin (vs. EUR 141.9 MM in 2019) and a clearly negative operating EBITDA (vs. EUR 7.0 MM in 2019). Despite further effects of COVID-19, we manage our business to safeguard liquidity and ensure continued business operations. The impact of a much longer-lasting crisis can only be estimated to a limited extent and could trigger liquidity risks. Berenberg & Goldman German Corporate Conference 2020 22 Foster a profitable growth culture and create value for our customers and HolidayCheck We leverage our content and our position as trusted authority to expand our industry leading position in traffic We build-out our Tour Operator to the best in the market in order to guarantee the best Urlaub for all our users. Berenberg & Goldman German Corporate Conference 2020 23 27 Disclaimer This presentation contains 'forward looking statements' regarding HolidayCheck Group AG, including opinions, estimates and projections regarding HolidayCheck Group AG's financial position, business strategy, plans and objectives of management and future operations. Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of HolidayCheck Group AG to be materially different from future results, performance or achievements 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 may or may not prove to be correct. No representation or warranty, express or implied, is made by HolidayCheck Group AG with respect 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 all material information concerning HolidayCheck Group AG. HolidayCheck Group undertakes no obligation to publicly update or revise any forward-looking statements or other information stated herein, whether as a result of new information, future events or otherwise. Berenberg & Goldman German Corporate Conference 2020 28

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.