31년 2023월 XNUMX일 마감된 연도의 예비 결과
LEI:213800OC94PF2D675H41
Hostelworld Group plc("Hostelworld" 또는 "그룹" 또는 "회사") 31년 2023월 XNUMX일 종료 연도의 예비 결과
A record year, with adjusted EBITDA exceeding market guidance
21년 2024월 31일: 호스텔 시장에 초점을 맞춘 선도적인 글로벌 OTA인 Hostelworld는 2023년 XNUMX월 XNUMX일 마감된 연도의 예비 결과를 발표하게 된 것을 기쁘게 생각합니다.
중요한 발전
· Record full year net GMV and generated revenue
· Leader in Social Travel, with a highly differentiated business model driving strong growth in App bookings and reduced marketing costs as a % of revenue
· Robust bookings growth across all regions, a record year for Asia
· Operating costs continue to decline as a % of revenue
· Strong cash conversion driving deleveraging of balance sheet
· Returned the business to profitable earnings per share
· Continued progress of ESG agenda: launched 'Staircase to Sustainability' framework, awarded 'Investors in Diversity' Silver accreditation (building on 2022 Bronze) and published the 2nd edition of 'Understanding the carbon impact of hostels vs. hotels' in partnership with Bureau Veritas validating hostels as more sustainable than hotels
· 긍정적인 추세가 지속되는 2024년의 강력한 시작
재무 하이라이트
· Full year net bookings totalled 6.5m, an increase of 37% year on year (2022: 4.8m)
· Net GMV ?618.7m, an increase of 32% year on year (2022: ?470.1m)
· Net revenue for the period was ?93.3m an increase of 34% year on year (2022: ?69.7m)
· Net Average Booking Value ('ABV') of ?14.36, a decrease of 4% year on year (2022: ?14.90), a combination of bed price inflation and a greater proportion of Asian destination bookings
· Direct marketing as a percentage of revenue amounted to 50% (2022: 58%)
· Operating costs (excluding paid marketing costs, exceptional costs and share option charges) of ?25.3m an increase of ?0.4m year on year, continue to reduce as a % of revenue, 27% (2022: 35%)
· Adjusted EBITDA of ?18.4m (2022: ?1.3m)
· Profit after tax of ?5.1m (2022: ?17.3m loss)
· Adjusted EPS 9.91 cent (2022: 5.97 cent loss)
대차 대조표 및 현금 흐름
· Total cash as at 31 December 2023 of ?7.5m (2022: ?19.0m) and net debt ?12.3m (2022: ?21.6m)
· Adjusted free cashflow of ?13.9m, 75% cash conversion (FY22: -521% cash conversion), balance of ?7.5m revolving credit facility fully repaid in February 2024
CEO인 Gary Morrison은 다음과 같이 말했습니다.
"I am very pleased to report another strong year of strategic progress for Hostelworld, which is reflected in our results. Over 2023 we grew market share, delivered record revenues, and increased operating leverage through a combination of reduced marketing spend (as a percentage of revenue) and continued operating cost discipline to deliver ?18.4m EBITDA, which exceeded our guidance range of ?17.5m - ?18.0m.
This operational delivery coupled with the strong cash conversion characteristics of our business model and a new ?17.5m facility agreed with Allied Irish Banks, plc in May 2023, enabled us to strengthen our balance sheet and reduce our finance costs. As of February 2024, we have repaid?in full the ?7.5m?revolving credit facility drawn down with AIB. Interest on the remaining term loan is charged at 2.65% over EURIBOR.
I am also proud to report that the Group continues to progress its ESG agenda and in particular the recent launch of our 'Staircase to Sustainability' framework with the Global Sustainable Tourism Council. This framework will help our hostel partners to promote the inherent sustainability advantages of their hostel accommodation."
Outlook
"With our record performance in 2023 and substantial progress in strengthening our balance sheet, I believe we are strongly positioned to deliver against our medium-term financial commitments published at our Capital Markets Day in November 2022. We have started 2024 with strong momentum, and I feel confident that we will continue our track record of profitable growth and value creation for our shareholders."
애널리스트 프레젠테이션
A presentation will be made to analysts today at 9.00am, a copy of which will be available on our Group website: http://www.hostelworldgroup.com. If you would like to dial into the presentation, please contact Powerscourt on the contact details provided below, or join directly via webcast link provided below.
웹 캐스트 링크
https://brrmedia.news/HSW_FY23
자세한 내용은 문의하시기 바랍니다 :
호스텔월드 그룹 plc [이메일 보호]
게리 모리슨, CEO
Caroline Sherry, 최고재무책임자
David Brady, 상업 금융 책임자
파워스코트 [이메일 보호]
Eavan Gannon / Nick Dibden +44 (0) 20 7250 1446
호스텔월드 소개
Hostelworld Group PLC는 호스텔 카테고리에 초점을 맞춘 획기적인 소셜 네트워크 기반 온라인 여행사("OTA")로, 여행자들이 함께 어울릴 사람들을 찾을 수 있도록 돕는 명확한 사명을 가지고 있습니다. 우리의 사명 선언문은 대부분의 여행자가 다른 사람들을 만나기 위해 호스텔에 간다는 통찰에 기반을 두고 있으며, 예약 데이터를 기반으로 호스텔과 도시의 여행자를 연결하는 플랫폼의 일련의 소셜 기능을 통해 이를 촉진합니다. 이 전략은 고객으로부터 상당한 입소문을 얻고 호스텔 파트너로부터 강력한 지지를 받는 등 매우 성공적이었습니다.
Founded in 1999 and headquartered in Ireland, Hostelworld is a well-known trusted brand with almost 230 employees, hostel partners in over 180 countries, and a long-standing commitment to building a better world. To that end, our focus over the last few years has been on improving the sustainability of the hostelling industry. In particular, over the last two years we have commissioned independent research to validate the category's sustainability credentials, and recently introduced a hostel specific sustainability framework which encourages our hostel partners to move to even more sustainable operations and also provides the data points for our customers to make more informed decisions about where they stay. In addition, our customers are now able to offset their trip's carbon emissions should they wish to do so, and we have maintained our 'Funding Climate Action' label awarded by South Pole.
책임 부인
이 발표에는 미래예측 진술이 포함되어 있습니다. 이 진술은 Hostelworld의 미래 전망, 개발 및 비즈니스 전략과 관련이 있습니다. 미래예측진술은 "믿다", "할 수 있다", "예상하다", "추정하다", "잠재적이다", "의도하다", "할 수 있다", "계획하다", "할 것이다" 또는 그 변형과 같은 용어의 사용으로 식별됩니다. 또는 이와 유사한 표현 또는 그 부정. 이 발표에 포함된 모든 미래 예측 진술은 현재 예상을 기반으로 하며 실제 결과가 해당 진술에 의해 표현되거나 암시된 것과 실질적으로 다를 수 있는 위험과 불확실성의 영향을 받습니다. 이러한 위험 또는 불확실성 중 하나 이상이 구체화되거나 기본 가정이 잘못된 것으로 판명되는 경우 Hostelworld의 실제 결과는 예상, 추정 또는 예상과 크게 다를 수 있습니다. 모든 미래 예측 진술은 이 발표 날짜를 기준으로 합니다. 법에서 요구하는 경우를 제외하고 Hostelworld는 이러한 진술이 작성된 시간 이후에 기반을 둔 사건, 조건 또는 상황의 변경을 반영하기 위해 이 발표에 포함된 미래 예측 진술에 대한 업데이트 또는 수정 사항을 공개적으로 발표할 의무가 없습니다. .
의장 성명서: Michael Cawley
개요
2023 was a year of improved financial performance and strategic development for Hostelworld. Our differentiated strategy enabled us to achieve record revenues, grow market share, and deliver adjusted EBITDA earnings ahead of market guidance. Our mission, to 'help travellers find people to hang out with', has resonated strongly with our customers, 61% of whom are young solo travellers (2022 59%), with our innovative 'social' strategy enabling them to make connections and build a community.
Demand was strong across all key markets and resulted in a year of record revenue growth. Following a prolonged period of travel restrictions, 2023 was a milestone year, particularly for Asia, with bookings into this region the largest in the history of the business. European demand was also particularly strong, with bookings up +14%, revenue up +21% and bed prices remaining high throughout the year.
We continued to evolve and enhance our social network product offering during the year. Initially launched in 2022, enhancements during 2023 focussed on the customer experience, with improvements to the sign-up process, richer user profiles, and messaging functionality. As a result, we saw increased engagement through the app, with 68% of 2023 bookings made by social network members (2022: 34%). Hostel hosted social events ('Linkups') were launched in Q2 2023, providing customers with a range of opportunities to connect with other like-minded travellers and share travel experiences.
We also continued to be disciplined and focussed on costs. I am particularly pleased to report that operating costs (which exclude paid marketing, exceptional items and share option charges) remain below 2019 levels (-10%) and have declined as a % of revenue from 35% in 2019 to 27% in 2023.
우리 민족
Hostelworld is powered by its people, and we are fortunate to be able to attract and retain talented and committed staff from a diversity of backgrounds in all areas of the business. Each contributes to a vibrant culture in Hostelworld which promotes equality and dignity at work and ensures everyone feels they belong. The Group's strong performance and strategic development during 2023 was achieved thanks to their focus, dedication and innovation, and I would like to express the Board's gratitude for their efforts.
지속 가능성
Ensuring a sustainable future is of paramount importance to all our stakeholders and is reflected in our company values.
The Group welcomes the second publication of a research report by leading sustainability and compliance specialist, Bureau Veritas, which confirms that hostels emit significantly less Scope 1 and Scope 2 emissions (tCO2e) compared to a typical hotel chain, on a per bed-night basis. Further, the report also confirms that the average emissions of hostels have reduced year-on-year, whilst by contrast, hotel emissions have increased.
Hostelling clearly offers consumers a unique opportunity to travel responsibly and this affords Hostelworld, as the only OTA exclusively promoting hostels, a distinct competitive advantage. Given its leadership position in the industry, Hostelworld has a responsibility to promote the inherent sustainable features of the category and we are committed to fully supporting our hostel partners journey in recognising and embracing the importance of sustainability. To achieve this, we have partnered with the Global Sustainable Travel Council ("GSTC") to develop a sustainability measurement and management system unique to the hostelling category, which went live in January 2024. This 'Staircase to Sustainability' framework is the first of its kind and is aligned to the GSTC's sustainability criteria. The framework will allow hostels to showcase their sustainability credentials and will be of invaluable assistance to our customers who are looking to minimise their carbon footprint.
Working with our emission reduction advisors South Pole, the Group have been accredited with the 'Funding Climate Action' label for a third consecutive year. The label recognises the Group's commitment to reducing and controlling its own emissions. Hostelworld had minimal scope 1 and 2 emissions of 7 tCO2e (well below the annual target set by the Group of 30 tCO2e) but is responsible for increasing scope 3 emissions due to an increase in purchased consumables relating to paid marketing costs and business travel linked to the growth in the Group's booking volume.
Capital Structure and Dividend
Our principal objective is to deliver growth in long-term sustainable value for our shareholders. In May 2023 the Group re-financed a 5-year term loan facility drawn down with HPS Investment Partners LLC (or subsidiaries or affiliates thereof) in February 2021 and replaced it with a new 3-year facility with Allied Irish Banks, plc. This facility is comprised of a ?10 million term loan, a ?7.5 million revolving credit facility and an undrawn ?2.5 million overdraft. The term loan and RCF each had an initial interest rate payable of 3.75% over EURIBOR, which subsequently reduced to 2.65% over EURIBOR as the ratio of net debt to adjusted EBITDA reduced to less than 1 times. Since drawdown in May we have repaid the RCF in full, ?5.5m during 2023 and a further ?2.0m in February 2024, and we have repaid ?2.5m of the term loan, ?1.7m in 2023 and a further ?0.8m in 2024.
At 31 December 2023, the Group had warehoused payroll taxes owing to the Irish Revenue Commissioners of ?9.6m, inclusive of interest accruing at 3% per annum. On 05 February 2024, the Irish Revenue Commissioners announced that the applicable interest rate would reduce to 0%. The Group continues to work closely with the Irish Revenue Commissioners to agree a schedule of repayments. At year-end, the Group agreed to make a repayment of 15% of the balance owed in May 2024, with monthly repayments of the remaining amounts due being made for the subsequent three-year period.
이사회는 배당금 지급이 당분간 사업에 최선의 이익이 되지 않을 것이라고 계속 믿고 있습니다.
통치
I am pleased to report that the Board continues to effectively lead the business in delivering our strategy, overseeing the culture of Hostelworld and ensuring meaningful progress continues to be made in the important area of diversity, equity and inclusion. Critical features of my role as Chair are ensuring that the Board sets a clear tone from the top and that our governance procedures are robust. In this regard, I am grateful to be ably supported by Board colleagues with a wealth of skills and expertise who share a common aim for the highest standards in corporate governance.
Outlook
Hostelworld is very well positioned with a product offering that resonates with our customers and a business model underpinned by cost discipline and operational excellence. We look forward to a year of further progress in 2024 and remain very confident in the Group's long-term ability to drive improved profitability and create shareholder value.
마이클 콜리
의장
월 20 2024
CEO 리뷰: Gary Morrison
"I am very pleased to report another strong year of strategic progress for Hostelworld, which is reflected in our results. Going into 2024, we are strongly positioned to deliver against our medium-term financial commitments. We have started the new year with strong momentum and I feel very confident that we will continue our track record of continued profitable growth and value creation for our shareholders."
Over 2023 we grew market share, delivered record revenues, and increased operating leverage through a combination of reduced marketing spend (as a percentage of revenue) and continued operating cost discipline to deliver ?18.4m EBITDA, which exceeded our guidance range of ?17.5m - ?18.0m. In particular, I am pleased to report our full year marketing costs as a percentage of revenue fell from 51% in the first half of the year to 50% on a full year basis, which demonstrates the ability of our unique app centric social strategy to grow market share whilst reducing marketing costs.
In parallel we continued to invest in our marketing technology platform, which enables us to allocate our marketing spend to maximise new customer acquisition, underpinned by our ability to predict the lifetime value of these new customers versus their acquisition cost in a granular fashion. We also made solid progress on modernising our platform enabling us to support faster execution of our growth strategy.
Overall, these results coupled with the strong cash conversion characteristics of our business model and a new facility agreed with Allied Irish Banks, plc in May 2023, enabled us to strengthen our balance sheet and reduce our interest costs. As of 31 December 2023, we have repaid ?5.5m of the original ?7.5m revolving credit facility drawn down in May 2023, with interest on the balance now charged at 2.65% over EURIBOR.
Finally, the Group continues to progress its ESG agenda by managing its low carbon emissions and being awarded with a 'Funding Climate Action' label by South Pole, and by collaborating with our hostel partners to promote the inherent sustainability advantages of hostel accommodation.
Executing our Growth Strategy
During 2023, we continued to execute our highly differentiated social network growth strategy, consistent with our Company Mission to 'help travellers find people to hang out with'.
At its core, our social network leverages our customers' booking data to create chat rooms/channels, accessible via our iOS and Android apps, that comprise customers who have overlapping stay dates in hostels and host cities. Hostel-based chat rooms comprise customers who will be staying in the same hostel on the same dates. City-based chat rooms comprise customers who will be staying in any hostel in the same city on the same dates, and are further divided into themes, such as drinks and dancing, walking tours, food etc. This in turn enables our customers to also find other hostellers to hang out with who are visiting the same city on the same dates (and who have similar interests). Collectively, these chat rooms/channels open up to customers who have opted into the social platform 14 days before check in, and close 3 days after check out.
Since launching this social network in Q2 2022 we have seen the number of customers signing up to use the social network (Social Members) steadily increase and surpass the 1 million mark in late 2023. Moreover, we have seen that these Social Members are very valuable. On average Social Members make circa twice the number of bookings and are three times more likely to use the app over the first 91 days since acquisition compared to non-members. Collectively, this growth strategy has not only driven market share gains, but also powered strong growth in app bookings relative to other channels, which in turn has served to reduce our marketing expenses as a percentage of revenue over time. These trends have further accelerated in 2023 as we continued to broaden and strengthen the appeal of our social network to our customers through improvements to our social network's sign-up process, richer traveller profiles, and enhanced chat room features.
In particular, during the year we improved our social network sign-up process on our website to make it easier for customers who used our platform before the launch of our social network to join the network on their next booking. This served to increase the number of customers signing up to the network, which in turn increased the proportion of bookings made by Social Members to 74% by Q4 2023, up from 54% in Q4 2022.
Throughout the year we invested in improving our traveller profiles so that Social Members can share more about their interests, spoken languages, places they know well, and other related information. This helps Social Members learn more about others that they interact with in the chat rooms/channels. Similarly, we also invested in our chat room functionality to make it easier for users to track conversations via threads, share their reactions to posts using emojis, and specifically mention other users using the familiar "@" notation. Collectively these improvements served to increase engagement on the platform, with the number of messages sent by social members during 2023 (as a proxy), increasing by 6.9x year-on-year, versus the growth in the underlying bookings made by Social Members of 2.8x year-on-year.
Finally, we launched a new platform ('Linkups') mid-year to enable our hostel partners to publish their catalogue of events to all our customers staying in the city. These events range from walking tours led by hostel staff members to open air cinema nights, pub tours, and excursions to local attractions in the neighbourhood. This is of particular importance to our hostel partners as it enables them to market their events to a wider audience than they could achieve alone, and to our customers as it expands the range of activities while hostelling where they can meet other hostellers to hang out with. While it is still early in respect of publishing participation figures to date, especially as we continue to iterate on the platform, and how we present the content to users in the app, we have been delighted to see strong growth in the inventory loaded on to the platform by our hostel partners. In particular, we can report that more than 63% of Social Members who made a booking in Q4 2023 were able to see at least 3 hostel events in their destination city that they could attend.
Overall, the continued investments in our social strategy during 2023 continues to pay dividends in the form of continued market share growth, where our bednights grew 30% year-on-year versus an estimated category growth rate of 8%, and a reduction of marketing expenses as a percentage of revenue which fell from 51% in H1 2023 to 50% on a full year basis.
This said, we are even more proud to see the tangible difference our social network is making to our customers lives, when we help them find people to hang out with, and they post about these experiences on social networks such as Instagram, TikTok, X and so forth. Over the course of 2023 we've seen thousands of these stories, videos, and posts, ranging from a single traveller organising a karaoke bar event in Tokyo with 20 others she'd never met, to another finding a group of solo travellers who went skydiving together in Hawaii, and a love story too, with a British couple meeting up in Vietnam using our platform? who've since moved in together in London. Indeed, we are very privileged to be enabling these amazing experiences every day, and this enviable word of mouth effect compounds all the other work that we do. We look forward to reporting more stories throughout 2024!
Expanding our Inventory Coverage
Over the last 25 years, Hostelworld has taken great pride in providing not only our customers with a wide selection of competitive hostels, but also providing our hostel partners with the most profitable customers, at market-leading competitive commission rates, and superior customer service.
During 2023, we continued to progress our long-term objectives of (i) strengthening the relationships with our existing hostel partners and (ii) making it easier for new hostel partners to join our platform.
With COVID-19 travel restrictions firmly in the rear-view mirror, our global markets team once again went out in the market to meet with our partners through dedicated Hostelworld conferences, market visits, attendance at third-party events, and leveraging our privileged partnerships with local hostel associations. These face-to-face meetings help us meet new hostel partners, cement our commercial relationships with existing partners, and help us provide guidance and information to all in getting the most out of our platform.
Investing in our Platform
Over the course of the year we continued to migrate key services on our platform to our cloud native architecture. The key services migrated this year include our payments service, all the sub-systems that support our social platform, and our customer-facing website. We also began migrating our core inventory and pricing services to the new cloud native architecture and expect to complete this work in 2024.
The cloud native approach delivers many advantages, such as application level "on demand" scaling, a more flexible microservices-based architecture, and more opportunities to use off-the-shelf features from our cloud services provider, such as artificial intelligence and machine learning optimisation engines. Collectively, these technology benefits will flow through into reduced hosting costs and enable faster execution of our growth strategy.
We also continue to make improvements in our underlying platform infrastructure now we can take advantage of cloud-based hosting. This has reduced the number of single points of failure, made problem identification/resolution easier, and has improved the scalability and latency of our services. The process for updating our systems is more automated, simpler, less disruptive, and less likely to result in an outage. We have already seen a significant improvement in uptime and manageability as a result of this and will continue to invest in this area.
Progressing our ESG Agenda
In parallel with helping millions of travellers in our category Meet The World®, we are also committed
to building a better world in everything we do, while making sustainability a competitive advantage for Hostelworld over time.
As noted in my last letter to shareholders in 2023, we continue to see growth in the importance of sustainability for all stakeholders in the travel ecosystem. Within the hostelling category, similar to last year, over half of our customers indicated that sustainability plays a role in both where and how they travel. In 2023 however, we now see that 82% of our customers are actively choosing hostels based on their belief that hostels are the most sustainable accommodation type. Throughout the year we have also seen growing demand from our hostel partners for a sustainable management system that aligns to travel industry standards.
More broadly, we continue to see increasing demands for companies not only to do more to address the risks of climate change, but also provide more granular disclosures around their efforts for the same. In particular, we are seeing the standards maintained and published by the United Nations World Tourism Organisation and Global Sustainable Tourism Council continuing to evolve, and increased disclosure requirements driven in large part by the Task Force on Climate-Related Financial Disclosures.
Taken collectively, it's clear the importance of sustainability in travel is increasing, and we expect that trend to continue over the coming years. Consequently, last year we developed and executed our sustainability strategy as a series of three linked initiatives, and I am confident that the progress we've made (and will continue to make) will position us strongly as the sustainability champion of the hostelling category over the years to come.
Our first initiative relates to maintaining a data-driven fact base to allow us and our hostel partners to promote hostels as the most sustainable accommodation option available. Once again, we collaborated with Bureau Veritas to refresh the calculation of scope 1 and 2 emissions of a representative group of hostels and compared these with the publicly available emissions data from a representative group of hotel chains. The second edition of this report (which was published in February 2024) once again indicated that the hostelling category emits significantly less Scope 1 and Scope 2 emissions (tCO2e) on a per bednight basis compared to a one-night stay in a typical hotel chain. In particular, the report indicates that the sustainability gap between hostels and hotels has widened still further year-over-year, with hostels reporting a year-on-year reduction in average emissions whilst the year-on-year emissions from the hotels analysed shows an increase. This report is invaluable for both ourselves and our hostel partners in confirming to our collective target audiences that choosing to stay in hostels is the most sustainable option.
The second initiative builds on the first by providing a common framework for hostel partners to not only showcase their sustainability credentials on our platform, but to also encourage progression towards even more sustainable operations. Whilst over half of our larger hostels/hostel chains are already using a sustainable management system, those that are indicate a lack of standards in the hostelling category overall (making comparisons by travellers difficult) and those that are not indicate existing systems are both time consuming and costly. Throughout 2023 we worked closely with our hostel partners, the GSTC, Bureau Veritas and other relevant bodies to build a set of hostel-appropriate standards and a reporting platform for all hostels listed on our platform. This strategy, branded "Staircase to Sustainability", launched in January 2024 and delivers on three key objectives. Firstly, it provides a uniform set of tiered standards, aligned to GSTC criteria, for hostels to present their sustainability credentials. Secondly, it provides a means for hostels to display adherence to these tiered standards on our site/apps to our travellers (based on inputs provided by hostel partners) such that our customers can make informed choices about where to stay. Thirdly, it provides the impetus for hostels to improve their sustainability operations over time, and progress through the tiers. We are incredibly excited about this platform and how it will drive sustainability in our category in 2024 and beyond.
Our final initiative relates to reducing our own emissions, and I am pleased to report during 2023 we were awarded the 'Funding Climate Action' label, in partnership with South Pole. Furthermore, I am pleased to report that in 2023 our scope 1 and 2 emissions totalled 7 tCO2e, which is substantially below the threshold of 30 tCO2e/annum target set for 2023. As our business grows we expect our scope 3 emissions will also grow primarily through increased paid marketing costs, and employee travel as we come together as a company (offsites) and travel to meet our hostel partners. In 2024 we plan to review these scope 3 emissions and set a reduction target which goes beyond the thresholds stipulated by the SBTi.
Investing in our Employees, Hostel Partners and Communities
Our employee mission is to foster a culture where everyone experiences personal growth and helps others achieve it too. Similar to companies across the world, we continue to adjust to the changes in where work is performed. We believe nurturing our desired culture is key to supporting our approach to agile working. Consequently, we revised our desired employee behaviours this year to highlight the importance of Growing Others - building on our belief that investing in growing others benefits everyone. I am pleased with our investments in learning and development resources to support the team in bringing this to life.
We're proud of our work building a highly inclusive workplace culture that celebrates differences by giving a voice to everyone. Building on initiatives over the past few years, this year we introduced new policies to support Fertility Leave, Surrogacy Leave, and Menopause at Work. We saw our efforts across many parts of this agenda recognised when awarded the Silver Accreditation by Investors in Diversity. This accolade recognises our commitment to diversity and inclusion practices. The accreditation is based on feedback from our team members and their firsthand experiences of the culture within Hostelworld.
Turning to our hostel partners, our regional hostel conferences provide an unrivalled opportunity for in-person engagement and knowledge sharing. They allow us to promote our strategy, share industry trends, and solicit feedback. In 2023 we held two such events. The first, our Latin American conference, took place in Bogota in September 2023, our first event in the region since 2019. We also took advantage of being in Colombia to arrange a number of smaller events and market visits in Colombia and neighbouring markets. A month later we held our European event in Copenhagen. Both conferences also attracted prominent speakers from relevant tourism bodies in the regions. This not only allowed us to celebrate the importance of the hostel sector to tourism in the region, it allowed us to pave the way for similar future events in other regions. In addition to these flagship events, we carried out numerous market visits and city events in key markets across Europe and the Asia-Pacific region. In parallel, we continued to run webinars covering market updates, revenue management, product updates, and showcasing our ESG developments. We continue to run our HOSCAR awards, this year celebrating five categories including The People Person, The Community Champion, and The Eco Warrior.
Finally, we're pleased to see people across the business using volunteering days introduced last year. This leave helps our people to have an impact in their local communities, whether through activities organised by teams or individually. Together with our charity partnerships, through both events and financial support, the variety of activities shows our people are passionate about making a difference and building a better world.
요약
Over the course of 2023, we have demonstrated the capacity of our social network growth strategy to drive profitable growth in market share, and we have continued to maintain a tight rein over costs. Taken together, this enabled the Hostelworld team to deliver ?18.4m in EBITDA which comfortably exceeded our last published guidance of ?17.5m - ?18.0m. I'd therefore like to take this opportunity to thank each and every one of our employees for their commitment and hard work in delivering these exceptional results. As I mentioned in our year-end town hall, I have the privilege of leading a team of extraordinary people who do extraordinary things.
With our record performance in 2023 and substantial progress in strengthening our balance sheet, I believe we are strongly positioned to deliver against our medium-term financial commitments published at our Capital Markets Day in November 2022. We have started 2024 with strong momentum, and I feel confident that we'll continue our track record of profitable growth and value creation for our shareholders.
게리 모리슨
최고 경영자(CEO)
월 20 2024
재무 검토: Caroline Sherry
| 2023 | 2022 |
| 2023 | 2022 |
| 2023 | 2022 |
Net Bookings | 6.5m | 4.8m | Generated Revenue1 | ?93.7m | ?71.2m | 순수익1 | ?93.3m | ?69.7m |
Net Average Booking Value ("ABV")2 | ? 14.36 | ? 14.90 | Net Gross Merchandise Value ("GMV")2 | ?618.7m | ?470.1m |
| ||
Direct Marketing Costs as a % of Revenue2 | 50% | 58% | 운영 비용 | ?88.4m | ?83.1m |
| ||
Operating Profit/(Loss) for the Year | ?5.0m | (?13.6m) | 연간 이익/(손실) | ?5.1m | (?17.3m) | 기본 EPS | 4.21 센트 | (14.71) 센트 |
조정 EBITDA2 | ?18.4m | ?1.3m | 조정 된 EBITDA 마진2 | 20% | 2% | 조정 된 EPS2 | 9.91 센트 | (5.97) 센트 |
현금 및 현금성 자산 | ?7.5m | ?19.0m | 조정 된 자유 현금 흐름 | ?13.9m | (?6.9m) | 현금 전환 | 75% | (521의 %) |
순 부채 | ?12.3m | ?21.6m | Net Asset Position | ?59.2m | ?52.2m |
1 Generated revenue is gross revenue less cancellations and excludes impact of deferred revenue. Net revenue is revenue adjusted for deferred revenue, ancillary revenue streams, vouchers, refunds and other accounting adjustments.
2The Group uses Alternative Performance Measures (APMs) which are non-IFRS measures to monitor the performance of its operations and of the Group as a whole. These APMs along with their definitions are provided in the Appendix 1 which form part of the Annual Report.
"2023 was a record year for Hostelworld, with both net GMV and generated revenue growing 32% compared to 2022 and net bookings growing 37%. This strong volume growth, combined with increased operating leverage due to reduced marketing spend (as a percentage of revenue) and operating cost discipline, resulted in an adjusted EBITDA which exceeded the upper end of our guidance range and a return to profit after tax."
매출 및 영업이익
Net GMV grew year-on-year to ?618.7m (2022: ?470.1m) and net bookings totalled 6.5m, an increase of 37% compared to 2022 (2022: 4.8m) driven by strong growth across all regions and in particular, Asia. Generated revenue for the period was ?93.7m (2022: ?71.2m), an increase of 32%. Net ABV, the average value paid by a customer for a net booking was ?14.36 which decreased by 4% from 2022 (2022: ?14.90), driven by a combination of bed price inflation and a greater proportion of Asian destination bookings.
Net revenue recognised for the period was ?93.3m (2022: ?69.7m) after considering deferred revenue, ancillary revenue streams, vouchers, refunds and other accounting adjustments. Featured listing advertising revenue, revenue generated from hostels advertising on our platform, grew to ?1.2m (2022: ?0.3m).
Deferred revenue cost of ?0.4m (2022: ?2.0m), a provision for bookings made under the free cancellation policy, where a customer can cancel and receive a refund. Year-on-year reduction driven by 2022, where the balance sheet provision reflected the Group's recovery post COVID-19 and the return to normalised levels of free cancellation bookings. The deferred revenue provision at year end totalled ?3.4m (31 December 2022: ?3.0m), and accounts for bookings where the cancellation date has not yet passed. This provision balance will unwind in 2024.
Operating expenses totalled ?88.4m (2022: ?83.1m), an increase of ?5.3m year-on-year. The Group had an increase of ?5.5m in direct marketing costs to ?46.9m (2022: ?41.4m) in part, due to increased booking volume. Direct marketing costs as a percentage of net revenue reduced to 50% (2022: 58%), with the Hostelworld app-centric social strategy driving marketing efficiencies. Credit card fees increased by ?0.6m to ?2.7m (2022: ?2.1m), directly driven by the increase in booking volumes.
Wage inflation and discretionary compensation primarily, drove an increase in wages and salaries costs to ?19.7m (2022: ?17.9m). 2022 costs include the benefit of ?0.4m of COVID-19 subsidy support received from the Irish Revenue Commissioners, no such subsidy was received in 2023. Offsetting increases in direct marketing costs, credit card fees, and wages and salaries, was a reduction of ?2.6m in other operating cost lines to ?19.1m (2022: ?21.7m).
Group operating profit amounted to ?5.0m (2022: loss of ?13.6m), a year-on-year increase of ?18.6m. Adjusted EBITDA of ?18.4m (2022: ?1.3m) exceeded the upper end of market guidance and represented growth of ?17.1m compared to prior year.
외환
The Group incurred a foreign exchange loss of ?0.2m (2022: ?0.7m). Current year loss arose with the strengthening of the US dollar against the Euro in the second half of the year.
뛰어난 아이템
Exceptional items warrant separate disclosure due to their nature or materiality. The Group incurred ?3.8m (2022: ?0.8m) of exceptional cost items in 2023.
The Group incurred ?3.6m of costs in refinancing the 5-year debt facility provided by HPS Partners LLP in February 2021. As the facility was repaid before the end of the 5-year agreement, the Group incurred ?2.8m of accelerated interest costs relating to transaction and warrant costs capitalised on drawdown, ?0.7m of early repayment penalty interest and ?0.1m of exit costs.
Prior year exceptional items related to a final settlement amount paid to the founder of Counter App Limited, in respect of their shareholders agreement and other contractual relationships with the Group and associated legal costs.
주식기준보상
The Group incurred a total share-based payment expense of ?1.7m (2022: ?2.4m) arising on the issuance of options in accordance with the Group's Restricted Share Award ("RSU"), Long-Term Incentive Plan ("LTIP") and Save as you Earn ("SAYE") plan.
Two awards vested in 2023. On 20 February 2023 the Company issued 1,027,655 shares to satisfy restricted share awards granted by the Company at a value ?0.01 per share in relation to RSU 2021 which vested in equal tranches in February 2022 and February 2023. This grant was made during COVID-19 in lieu of a cash bonus. On 16 May 2023 the Company issued 1,645,994 shares to satisfy long-term incentive plan awards in relation to LTIP 2020. 75% of the performance obligations were satisfied.
In 2024 one LTIP award is set to vest at 100%. The final number of awards that will vest will be finalised in May 2024.
주당 순이익
Basic earnings per share for the Group was 4.21 cent (2022: loss per share: 14.71 cent). Adjusted earnings per share was 9.91 cent per share (2022 loss per share: 5.97 cent per share) with the return to profitability, of both metrics, reflective of the business's strong recovery post COVID-19.
The weighted average number of shares in the period was 122.0m (2022: 117.3m) and the total number of shares at the balance sheet date was 123.6m (2022: 117.5m). Increase year on year is due to the vesting of the RSU award (1.0m), LTIP award (1.7m), SAYE award (0.1m) and warrants (3.3m), a condition of the HPS debt facility agreement.
순 금융 비용
The Group incurred ?2.6m of finance costs in 2023 (2022: ?4.3m), with interest costs arising on the Group's debt facilities. The decrease in costs year-on-year is attributable to the refinancing completed in May 2023.
The legacy ?30.0m HPS facility was drawn down in February 2021 during COVID-19 and had an interest rate of 9% per annum over EURIBOR. HPS interest charges, excluding those classified as exceptional, amounted to ?1.6m (2022: ?4.2m), of which cash interest paid totalled ?1.1m (2022: ?nil), prior year interest costs were capitalised as PIK interest.
A new 3-year facility was signed with AIB in May 2023. This facility is comprised of a ?10.0m term loan, a ?7.5m revolving credit facility ("RCF") and an undrawn ?2.5m overdraft. The AIB term loan and RCF each had an initial interest rate payable of 3.75% over EURIBOR. In July 2023 this reduced to 3.25%, as the ratio of Net Debt to adjusted EBITDA was less than 2 times as at 30 June 2023, and in October 2023 this further reduced to 2.65% as the ratio of Net Debt to adjusted EBITDA was less than 1 times as at 30 September 2023. Total AIB interest charges amounted to ?0.7m (2022: ?nil), of which cash interest paid totalled ?0.6m (2022: ?nil). The Group also incurred interest charges of ?0.2m (2022: ?nil) on its debt warehoused with the Irish Revenue Commissioners, at a rate of 3% since May 2023. On 05 February 2024 it was announced that this is reduced to 0% with the reduction in rate applying to any interest amounts accrued to date.
The Group also incurred interest charges of ?0.2m (2022: ?nil) on its debt warehoused with the Irish Revenue Commissioners, at a rate of 3% since May 2023. On 05 February 2024 it was announced that this is reduced to 0% with the reduction in rate applying to any interest amounts accrued to date.
현행 및 이연 과세
The Group corporation tax charge for 2023 is ?0.2m (2022: ?0.2m) and primarily relates to our international operations where we have an office or branch where tax losses from our Irish operations cannot be utilised.
During 2023 an additional deferred tax asset of ?6.4m was recognised (2022: ?0.8m). At 31 December 2023 the carrying value of deferred tax assets amounted to ?15.5m (2022: ?9.2m). Deferred tax assets are recognised to the extent that it is probable that future taxable profits will be available against which any unused tax losses and unused tax credits can be utilised. In 2023 the Group returned to an operating profit of ?5.0m (2022: operating loss of ?13.6m). The Group has forecasted a growing profit in each of the years from 2024 to 2028, driven by growth in bookings and revenue, maintaining direct marketing cost as a % of revenue at current levels, continued cost discipline and reduced interest charges.
Debt Warehoused
The Group availed of the Irish Revenue Commissioners tax warehousing scheme and warehoused ?9.4m by deferring payment of all Irish employer taxes from February 2021 to March 2022. Total amount warehoused at 31 December 2023 was ?9.6m (2022: ?9.4m), including an interest charge incurred of 3.0% on the balance since 01 May 2023. The Group has agreed initial repayment terms with the Irish Revenue Commissioners of a 15% downpayment in May 2024, followed by regular monthly repayments thereafter over a 3-year period.
In February 2024 the Irish Revenue Commissioners announced that 0% interest would apply to debt warehoused, with the reduction in rate applying to any interest amounts accrued to date. The Group continues to monitor and comply with the appropriate Revenue guidelines applicable to this scheme and will formalise its repayment plan in May 2024.
Development Labour
Total development labour intangible asset additions amounted to ?4.0m during 2023 (2022: ?4.5m). This asset arose due to work completed delivering our social strategy, modernising our platforms, and revamping our hostel activations process. This balance includes internal development labour of ?2.9m (2022: ?2.0m) relating to staff costs capitalised during the year, and external development labour of ?1.1m (2022: ?2.5m) relating to external contractors who have specialist skills. The year-on-year increase in internal staff costs is driven by the nature of the work completed in 2023, compared to 2022 where time was spent on migrating to the cloud and other non-capitalisable work.
순부채 및 자금조달
At the balance sheet date net debt totalled ?12.3m (2022: ?21.6m). Net debt is comprised of cash of ?7.5m (2022: ?19.0m), and debt facilities relating to bank borrowings of ?10.2m (2022: ?31.1m) comprising of an RCF of ?2.0m and a term loan of ?8.2m, and warehoused taxes of ?9.6m (2022: ?9.5m).
Reduction year-on-year in net debt driven by refinancing of the legacy COVID-19 debt facility in May 2023 to a new 3-year facility with AIB. Altogether ?17.4m was drawn down from AIB, net of arrangement fee, and utilised to repay the former debt facility held with HPS. In total HPS repayments made across April and May totalled ?34.5m, comprising of ?30.0m principal and ?4.5m PIK. Balance of repayment to HPS comprised of the Group's cash reserves. Since drawdown in May 2023 we have repaid the RCF in full, ?5.5m during 2023 and a further ?2.0m in February 2024, and we have repaid ?2.5m of the term loan, ?1.7m in 2023 and ?0.8m in 2024. Our adjusted free cash flow of 75% (2022: absorption of 521%) represents a return to a more normalised cash generation ratio for the Group, as we recover from COVID-19, and a deleverage of our borrowing facilities as set out above.
Impact of New Accounting Standards
New accounting standards and amendments to existing standards implemented in 2023 did not have a material impact on the Group.
제휴사
특수관계자 거래는 그룹 연차보고서 및 재무제표 주석 24에 공시되어 있습니다.
투자자 관계
The Group has a proactive approach to investor relations. The release of our annual and interim results, along with quarterly trading updates, provide regular information regarding our performance and are accompanied by presentations, webcasts and conference calls. In May 2023, an AGM was held providing engagement channels for our shareholders to send advance questions to the Board, with all details relating to the AGM published on the Company's website.
We held a number of investor roadshows and attended industry conferences. These engagements provided us an opportunity for the management team to meet existing and/or potential investors and analysts in a concentrated set of meetings. This direct feedback and input on the investor community's perspective of the Company is reflected upon to ensure that our investor relations communications remain meaningful and effective.
We also engage regularly with AIB, our debt partners, since the successful refinancing facility was signed in May 2023.
피제수
The Board does not expect to pay a cash dividend, under its current policy, in respect of the 2023 financial year. Any payment of cash dividends will be subject to the Group generating adjusted profit after tax, the Group's cash position, any restrictions in the Group's banking facilities and subject to compliance with Companies Act 2006 requirements regarding ensuring sufficiency of distributable reserves at the time of paying the dividend.
캐롤라인 셰리
최고 재무담당자(CFO)
월 20 2024
호스텔월드 그룹 PLC
통합 소득 명세서
31년 2023월 XNUMX일 마감
|
| 2023 사전 예외적 | 2023 Exceptional (Note 5) | 2023 합계 | 2022 사전 예외적 | 2022 Exceptional (Note 5) | 2022 합계 |
| 노트 | ?'000 | ?'000 | ?'000 | ?'000 | ?'000 | ?'000 |
|
|
|
|
| |||
수익 | 3 | 93,264 | - | 93,264 | 69,690 | - | 69,690 |
운영 비용 | 4 | (88,178) | (253) | (88,431) | (82,278) | (835) | (83,113) |
매출채권의 손상환입 | 14 | - | 14 | 18 | - | 18 | |
어소시에이트 결과의 점유율 | 137 | - | 137 | (206) | - | (206) | |
|
|
|
|
|
|
| |
영업이익/(손실) | 5,237 | (253) | 4,984 | (12,776) | (835) | (13,611) | |
금융 수입 | 53 | - | 53 | - | - | - | |
금융 비용 | 7 | (2,581) | (3,526) | (6,107) | (4,301) | - | (4,301) |
|
|
|
|
|
|
|
|
과세전 이익/(손실) |
| 2,709 | (3,779) | (1,070) | (17,077) | (835) | (17,912) |
|
|
|
|
| |||
세액공제 | 8 | 6,206 | - | 6,206 | 649 | - | 649 |
Profit/(loss) for the year attributable to the equity owners of the parent Company | 8,915 | (3,779) | 5,136 | (16,428) | (835) | (17,263) | |
Basic earnings/(loss) per share (euro cent) |
|
| 4.21 | (14.71) | |||
희석이익/(손실) 주당 (유로센트) |
|
| 4.07 | (14.71) |
호스텔월드 그룹 PLC
종합 소득에 대한 통합 명세서
31년 2023월 XNUMX일 마감
| 2023 | 2022 | |
|
| ?'000 | ?'000 |
|
|
|
|
해당 연도의 이익/(손실) | 5,136 | (17,263) | |
후속 적으로 당기 손익으로 재 분류 될 수있는 항목 : |
| ||
해외사업장 환산차이 | (24) | (11) | |
Total comprehensive income for the year attributable to equity owners of the parent Company | 5,112 | (17,274) |
호스텔월드 그룹 PLC
재무 상태에 대한 통합 명세서
31년 2023월 XNUMX일 현재
| 노트 | 2023 | 2022 |
|
| ?'000 | ?'000 |
비유동 자산 |
|
| |
무형 자산 | 10 | 66,533 | 73,358 |
재산, 식물 및 장비 | 818 | 735 | |
이연 법인세 자산 | 11 | 15,530 | 9,174 |
준회원에 대한 투자 | 1,117 | 980 | |
현금 및 현금성 자산 | 12 | 750 | 750 |
84,748 | 84,997 | ||
유동 자산 |
| ||
매출 채권 및 기타 채권 | 3,275 | 3,246 | |
법인세 | 91 | 22 | |
현금 및 현금성 자산 | 12 | 6,714 | 18,212 |
10,080 | 21,480 | ||
총자산 | 94,828 | 106,477 | |
|
| ||
지배기업의 지분소유자에게 귀속되는 발행자본금 및 적립금 |
| ||
주식 자본 | 13 | 1,236 | 1,175 |
프리미엄 공유 | 13 | 14,425 | 14,328 |
기타 준비금 | 14 | 2,918 | 6,432 |
이익 잉여금 | 40,599 | 30,308 | |
지배기업의 주주에게 귀속되는 자본총계 | 59,178 | 52,243 | |
|
| ||
비유동 부채 |
| ||
비유동 부채 |
| ||
Debt warehoused | 15 | 6,425 | 9,438 |
차입금 | 17 | 4,807 | 30,869 |
리스 부채 | 35 | - | |
11,267 | 40,307 | ||
유동 부채 현재 부채 Debt warehoused 차입금 | 15 17 | 3,204 5,340 | - 244 |
매입 채무 및 기타 채무 |
| ||
매입 채무 이연 수익 미지급금 및 기타 미지급금 | 16 16 16 | 3,314 3,891 7,859 | 3,944 3,201 5,718 |
리스 부채 | 545 | 547 | |
법인세 | 230 | 273 | |
24,383 | 13,927 | ||
총 부채 | 35,650 | 54,234 | |
총 지분 및 부채 | 94,828 | 106,477 |
재무제표는 이사회의 승인을 받았고 20년 2024월 XNUMX일 발행 승인을 받았으며 다음과 같이 이사회를 대신하여 서명했습니다.
게리 모리슨 캐롤라인 셰리
최고 경영자(CEO) 최고 재무담당자(CFO)
Hostelworld Group plc 등록 번호 9818705(잉글랜드 및 웨일스)
호스텔월드 그룹 PLC
연결자본변동표
31년 2023월 XNUMX일 마감
|
| 주식 자본 | 프리미엄 공유 | 이익 잉여금 | 기타 준비금 | 금액 |
| 노트 | ?'000 | ?'000 | ?'000 | ?'000 | ?'000 |
|
|
|
|
| ||
01년 2022월 XNUMX일 잔액 |
| 1,163 | 14,328 | 45,140 | 6,475 | 67,106 |
|
|
|
|
|
| |
주식의 발행 | 12 | - | - | - | 12 | |
당해 년도 총 포괄 이익 | - | - | (17,263) | (11) | (17,274) | |
주식결제형 주식기준보상금에 대한 자본적립 | - | - | - | 2,399 | 2,399 | |
행사 및 만료된 주식기준보상 양도 | - | - | 2,431 | (2,431) | - | |
31 년 2022 월 XNUMX 일 잔액 |
| 1,175 | 14,328 | 30,308 | 6,432 | 52,243 |
|
|
|
|
| ||
주식의 발행 | 13 | 61 | 97 | - | - | 158 |
당해 년도 총 포괄 이익 | - | - | 5,136 | (24) | 5,112 | |
Credit to equity for equity settled share- based payments | 14 | - | - | - | 1,665 | 1,665 |
Transfer of exercise, vesting or expiry of warrants | 14
| - | - | 3,073 | (3,073) | - |
행사 및 만료된 주식기준보상 양도 | 2,082 | (2,082) | - | |||
31 년 2023 월 XNUMX 일 잔액 |
| 1,236 | 14,425 | 40,599 | 2,918 | 59,178 |
?
호스텔월드 그룹 PLC
현금 흐름의 통합 명세서
31년 2023월 XNUMX일 마감
노트 | 2023 | 2022 | |
| ?'000 | ?'000 | |
영업 활동으로 인한 현금 흐름 |
| ||
해당 연도의 이익/(손실) | 5,136 | (17,263) | |
과세 | (6,206) | (649) | |
세전 손실 |
| (1,070) | (17,912) |
상각 및 감가상각 | 4 | 11,774 | 11,597 |
어소시에이트 결과의 점유율 | (137) | 206 | |
리스처분순이익 | 4 | (3) | (1) |
유형자산처분순손실 | 4 | - | 1 |
재정 수입 | (53) | - | |
재정 비용 | 7 | 2,581 | 4,301 |
Finance expense (exceptional) | 7 | 3,526 | - |
우리사주결제형 주식기준보상비용 | 1,682 | 2,396 | |
운전 자본 항목의 변경 사항: |
| ||
거래 및 기타 미지급금의 증가 | 2,392 | 1,457 | |
매출채권 및 기타채권 증가 | (28) | (1,244) | |
운영에서 발생하는 현금 | 20,664 | 801 | |
지급이자(리스이자 포함) | (3,036) | (1,370) | |
받은이자 | 59 | - | |
소득세 납부 | (262) | (180) | |
영업 활동에 사용 된 순 현금 | 17,425 | (749) | |
| |||
투자 활동으로 인한 현금 흐름 |
| ||
무형자산의 취득/개발 | 10 | (3,986) | (4,597) |
재산, 식물 및 장비 구매 | (101) | (196) | |
투자 활동에 사용 된 순 현금 | (4,087) | (4,793) | |
| |||
금융 활동으로 인한 현금 흐름 |
| ||
차입금 인출 | 17 | 17,369 | - |
차입금 관련 거래비용 | 17 | (170) | - |
차입금 상환 | 17 | (41,233) | - |
영장 발부로 받은 수익금 | 13 | 33 | - |
Proceeds received on issue of shares | 13 | 98 | - |
임대 부채에 따른 의무 상환 | (909) | (752) | |
순현금(사용)/재무활동에서 발생 |
| (24,812) | (752) |
|
|
| |
현금 및 현금 등가물의 순 감소 |
| (11,474) | (6,294) |
연초의 현금 및 현금성자산 |
| 18,962 | 25,267 |
환율 변동의 영향 |
| (24) | (11) |
현금 및 현금성자산 연말정산 | 12 | 7,464 | 18,962 |
?
호스텔월드 그룹 PLC
연결재무제표에 대한 주석
31년 2023월 XNUMX일 마감
1. General Information
Hostelworld Group plc(이하 "회사")는 회사법에 따라 9년 2015월 3일 영국에서 설립된 공개 유한 회사이며 잉글랜드와 웨일즈에 등록되어 있습니다. 회사의 등록 사무소는 영국 B3 XNUMXAX 버밍햄의 One Chamberlain Square입니다.
회사와 그 자회사(총칭하여 "그룹")는 전 세계적으로 호스텔, B&B, 호텔 및 기타 숙박 시설 예약을 촉진하는 소프트웨어 및 데이터 처리 서비스를 제공합니다.
회사의 주식은 Euronext Dublin과 런던 증권 거래소에서 거래됩니다.
연결 손익계산서, 연결 포괄손익계산서, 연결 재무상태표, 연결 자본변동표, 연결 현금흐름표 및 관련 메모로 구성된 재무 정보는 Hostelworld Group의 연결 재무제표에서 가져왔습니다. plc("회사")는 31년 2023월 20일에 종료된 연도에 대해 2024년 435월 1일 이사회에서 승인되었습니다. 재무 정보는 2(2006) 및 (XNUMX)항의 의미 내에서 법정 계정을 구성하지 않습니다. 회사법 XNUMX 또는 국제재무보고기준("IFRS")의 공개 요구 사항을 준수하기에 충분한 정보를 포함하고 있습니다.
An unqualified report on the consolidated financial statements for the year ended 31 December 2023 has been given by the auditors, KPMG. It did not include reference to any matters to which the auditors drew attention by way of emphasis without qualifying their report and did not contain any statement under section 498 (2) or (3) of the Companies Act 2006. The consolidated financial statements will be filed with the Registrar of Companies, subject to their approval by the Company's shareholders at the Company's Annual General Meeting on 02 May 2024.
New accounting standards and amendments to existing standards implemented in 2023 did not have a material impact on the Group.
2. Going Concern
Hostelworld's business activities, together with the main factors likely to affect its future development and performance, are described in the Chief Executive's Review. After due consideration and review, the Directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for a period of at least 12 months from the date of approval of the Financial Statements. The Group therefore continues to adopt the going concern basis in preparing its Financial Statements.
3. Revenue and Segmental Analysis
그룹은 보조 온라인 광고 수익을 포함하여 전 세계적으로 호스텔, 호텔 및 기타 숙박 시설을 활성화하는 소프트웨어 및 데이터 처리 서비스를 제공하는 단일 사업 단위로 관리됩니다.
The Directors determine, and present operating segments based on the information that is provided internally to the Chief Executive Officer, who is the Company's Chief Operating Decision Maker ("CODM"). When making resource allocation decisions, the CODM evaluates booking numbers and average booking value. The objective in making resource allocation decisions is to maximise consolidated financial results.
The CODM assesses the performance of the business based on the consolidated adjusted profit after tax of the Group throughout the year. This measure excludes the effects of certain income and expense items, which are unusual by virtue of their size and incidence, in the context of the Group's ongoing core operations, such as the impairment of intangible assets and one-off items of expenditure.
모든 수익은 전적으로 외부 고객으로부터 발생하며 개별적으로 중요한 고객은 아무도 없는 다수의 고객으로부터 창출됩니다.
The Group's major revenue-generating asset class comprises of its software and data processing services and is directly attributable to its reportable segment operations. In addition, as the Group is managed as a single business unit, all other assets and liabilities have been allocated to the Group's single reportable segment. There have been no changes to the basis of segmentation or the measurement basis for the segment profit or loss.
Revenue split by country, is dependent on the location of the hostel or property. No 단일 국가는 매년 총 수익의 10% 이상을 기여합니다. Our top five countries year on year account for 36% of overall revenue (2022: 38%) relating to USA, Australia, and key European destinations. Revenue split by continent is presented as follows:
|
| 2023 | 2022 |
|
| ?'000 | ?'000 |
|
|
| |
유럽 | 56,400 | 45,936 | |
미주 | 17,311 | 15,719 | |
아시아, 아프리카 및 오세아니아 | 19,553 | 8,035 | |
총 수익 |
| 93,264 | 69,690 |
Revenue arising within Ireland, the country of domicile, amounted to ?1,780k (2022: ?1,795k).
수익의 세분화는 다음과 같이 표시됩니다.
| 2023 | 2022 |
| ?'000 | ?'000 |
| ||
기술 및 데이터 처리 수수료 | 92,079 | 69,363 |
광고 수익 및 부대 서비스 | 1,185 | 327 |
총 수익 | 93,264 | 69,690 |
31년 2023월 99일에 종료된 회계연도에 그룹은 숙박업체에 부과한 기술 및 데이터 처리 수수료로 수익의 2022%(100년: XNUMX%)를 창출했습니다.
As at 31 December 2023, ?3,438k of revenue relating to free cancellation bookings has been deferred (2022: ?3,005k). Revenue is recognised at the time the reservation is made in respect of non-refundable commission on the basis that the Group has met its performance obligations at the time the booking is made. In respect of the free cancellation product, which offers the traveller the opportunity to make a booking on a free cancellation basis and to receive a refund of their deposit in certain circumstances, such related revenue is not recognised until the last cancellation date has passed as one party can withdraw from the contract until such a date has passed. Deferred revenue is expected to be recognised within twelve months of initial recognition.
Advertising revenue and revenue generated from other services are recognised over the period when the service is performed. The Group's non-current assets are located in Ireland, Australia, Portugal, China, and the United Kingdom. Non-current assets are disaggregated as follows:
| 2023 | 2022 | ||
|
|
| ?'000 | ?'000 |
|
|
|
| |
비유동 자산 | 84,748 | 84,997 | ||
다음과 같이 분석됩니다. |
| |||
아일랜드 | 83,552 | 83,825 | ||
호주 | 1,117 | 980 | ||
영국 | 21 | 20 | ||
포르투갈 | 49 | 156 | ||
중국 | 9 | 16 |
4. Operating Expenses
Profit for the year has been arrived at after charging/(crediting) the following operating costs:
| 2023 | 2022 | ||
| 노트 |
| ?'000 | ?'000 |
|
|
|
| |
마케팅 경비 | 47,557 | 42,233 | ||
직원 비용 | 19,743 | 17,906 | ||
신용 카드 처리 수수료 | 2,672 | 2,047 | ||
공장, 자산 및 장비 처분 손실 | - | 1 | ||
리스처분순이익 | (3) | (1) | ||
예외 품목 | 5 | 253 | 835 | |
FX 손실 | 156 | 714 | ||
기타 관리 비용 | 6,279 | 7,781 | ||
총 관리비 | 76,657 | 71,516 | ||
| ||||
유형 고정 자산의 감가상각 | 963 | 968 | ||
무형 고정 자산의 상각 | 10 | 10,811 | 10,629 | |
총 운영 비용 |
|
| 88,431 | 83,113 |
Other administrative costs are net of external contractor costs capitalised of ?829k (2022: ?705k).
Included within marketing expenses are paid marketing costs of ?46,881k (2022: ?41,393k). Remainder of marketing expenses relate to brand marketing costs. Other administration costs include rent and rates, legal and professional, training and recruitment, website maintenance and security and data analytics.
Included within operating expenses is a total credit of ?240k (2022: ?184k) in relation to a research and development ("R&D") tax credit claimed in respect of projects completed in 2022 and 2021. Included in staff costs are government grant amounts totalling ?nil (2022: ?376k) for a subsidy received under the Employment Wage Subsidy Scheme in Ireland.
5. Exceptional Items
| 2023 | 2022 | ||
|
|
| ?'000 | ?'000 |
|
|
|
| |
소송 합의 | - | 519 | ||
구조 조정 비용 | 3,779 | 316 | ||
금액 | 3,779 | 835 |
Included in exceptional items are operating costs of ?253k (2022: ?835k) and finance costs of ?3,526k (2022: ?nil).
In the current year, exceptional items primarily relate to costs incurred on refinancing of the HPS facility totalling ?3.6m, broken down as ?0.7m of early repayment penalty interest, ?0.1m of transaction costs relating to exiting the old facility and ?2.8m accelerated interest costs which relate to transaction costs capitalised on drawdown of HPS facility in February 2021, which were expected to be amortised over a 5-year period to 2026, but unwound in full on refinancing.
주주 계약 및 그룹과의 기타 계약 관계 및 관련 법적 비용과 관련하여 Counter App Limited의 창립자에게 지급된 최종 정산 금액과 관련된 전년도 예외 항목입니다.
6. Staff Costs
월평균 채용인원(상임이사 포함)은 다음과 같습니다.
| 2023 | 2022 | |
|
|
| |
고용된 사람의 평균 수: |
|
| |
관리 및 판매 | 123 | 130 | |
개발 및 정보 기술 | 108 | 109 | |
금액 |
| 231 | 239 |
이들 직원의 총 보수 비용은 다음과 같이 분석됩니다.
|
| 2023 | 2022 | |
| 노트 |
| ?'000 | ?'000 |
직원 비용은 다음으로 구성됩니다. |
|
|
| |
임금 및 급여 | 17,880 | 14,405 | ||
해지혜택 - 예외적 항목 | - | 218 | ||
사회 보장 비용 | 2,115 | 1,987 | ||
연금 비용 | 462 | 432 | ||
다른 이익 | 538 | 687 | ||
쉐어옵션 차지 | 1,682 | 2,396 | ||
22,677 | 20,125 | |||
| ||||
자본화된 개발 노동 | 10 | (2,934) | (2,001) | |
금액 |
|
| 19,743 | 18,124 |
Capitalised development labour of ?2,934k (2022: ?2,001k) relates to employee costs capitalised. Increase year on year relates to the nature of projects completed in 2023, with 2022 work including non capitalisable work such as migrating to the cloud and social experiments.
7. Finance Costs
노트 |
| 2023 | 2022 | |
| ?'000 | ?'000 | ||
| ||||
리스부채에 대한 이자 | 39 | 31 | ||
금융비용 - HPS 시설 | 17 | 1,641 | 4,243 | |
Finance costs - AIB facility | 17 | 701 | - | |
Finance costs - exceptional | 5 | 3,526 | - | |
Finance costs - warehoused debt and other | 200 | 27 | ||
금액 |
|
| 6,107 | 4,301 |
Exceptional finance costs primarily relate to acceleration of interest charges on HPS as a result of the refinancing of the HPS facility in May 2023.
Included in 'finance costs - warehoused debt and other' is ?190k recognised during 2023 (2022: ?nil) on the balance of warehoused payroll tax liabilities. Further detail is included in note 15. On 05 February 2024 the Irish Revenue Commissioners announced that the applicable rate of interest on these will reduce to 0%, with any amounts already paid being refunded or accrued being written off.
8. Taxation
| 2023 | 2022 | ||
| 노트 |
| ?'000 | ?'000 |
법인세: |
|
| ||
올해 요금 |
| 130 | 183 | |
전년도에 대한 조정 | 20 | (10) | ||
금액 | 150 | 173 | ||
일시적 차이의 발생과 반전 | 11 | (6,356) | (822) | |
해당 연도의 총 세액 공제 |
|
| (6,206) | (649) |
Corporation tax is calculated at 12.5% (2022: 12.5%) of the estimated taxable profit for the year. The Irish 12.5% corporation tax rate has been used as this is the rate at which most of the Group's profits will be taxed. Taxation for other jurisdictions is calculated at the rates prevailing in the respective jurisdictions. The corporation tax charge relates primarily to international operations where tax losses from our Irish operations cannot be utilised. The charge for the year can be reconciled to the consolidated income statement as follows:
| 2023 | 2022 |
| ?'000 | ?'000 |
|
| |
계속영업에 대한 세전손실 | (1,070) | (17,912) |
아일랜드 법인세율 12.5%(2022년: 12.5%)의 세금 | (134) | (2,239) |
효과: |
| |
과세소득 결정 시 공제되지 않는 비용의 세효과 |
1,169 |
867 |
활용되지 않은 손실의 세금 효과 | - | 480 |
활용 손실의 세금 효과 | (421) | (34) |
다양한 세율로 과세되는 소득의 세금 효과 | 87 | 201 |
Depreciation and amortisation (less)/greater than capital allowances | (654) | 752 |
다른 관할권에서 운영되는 자회사의 다른 세율의 영향 | 83 | 156 |
Net recognition of deferred tax asset (note 11) | (6,356) | (822) |
전년도에 대한 조정 | 20 | (10) |
금액 | (6,206) | (649) |
9. Earnings/(Loss) per Share
Basic earnings/(loss) per share is computed by dividing the profit/(loss) for the year after tax available to ordinary shareholders by the weighted average number of ordinary shares outstanding during the year.
| 2023 | 2022 | |
|
|
| |
가중평균 발행주식수('000초) | 121,990 | 117,338 | |
Profit(loss) for the year (?'000s) | 5,136 | (17,263) | |
Basic earnings/(loss) per share (euro cent) |
| 4.21 | (14.71) |
Diluted earnings/(loss) per share is computed by adjusting the weighted average number of ordinary shares in issue to assume conversion of all potential dilutive ordinary shares. Share options and share awards are the Company's only potential dilutive ordinary shares. In the prior year ordinary shares potentially issuable from share-based payment arrangements are anti-dilutive due to the loss in the financial period meaning there is no difference between basic and diluted earnings per share.
| 2023 | 2022 | |
|
|
| |
가중평균 발행보통주식수(천개) | 121,990 | 117,338 | |
희석 가능성이 있는 보통주의 영향: |
| ||
공유 옵션('000초) | 4,366 | - | |
희석주당이익 계산을 위한 가중평균보통주식수('000) |
| 126,356 | 117,338 |
희석이익/(손실) 주당 (유로센트) |
| 4.07 | (14.71) |
10. Intangible Assets
Additions during the period included capitalised development costs of ?3,953k (2022: ?4,511k) of which internal development labour amounted to ?2,934k (2022: ?2,001k) for staff costs capitalised during the year, and external development labour of ?1,019k (2022: ?2,510k) relating to external contractors who have specialist skills. Other additions to intangible assets were software additions of ?33k (2022: ?15k) and an acquisition of a domain name of ?Nil (2022: ?71k). There were no disposals. Offsetting additions is a total amortisation charge of ?10,811k for the period ended 31 December 2023 (31 December 2022: ?10,629k).
11. Deferred Taxation
| 무형 자산 | 재산, 식물 및 장비 | Losses and interest relief | 금액 |
01년 2022월 XNUMX일 | 8,225 | 127 | - | 8,352 |
손익계산서에 대한 대변/(요금) | 835 | (13) | - | 822 |
01년 2023월 XNUMX일 | 9,060 | 114 | - | 9,174 |
손익계산서에 대한 대변/(요금) | 995 | (69) | 5,430 | 6,356 |
31년 2023월 XNUMX일 | 10,055 | 45 | 5,430 | 15,530 |
Deferred tax assets are recognised to the extent that it is probable that taxable profits will be available in future periods. Current year recognition of deferred tax assets is reliant upon the Board approved 2024 budget and four-year outlook which covers a period to 31 December 2028 which outlines the Directors expectations on future profitability of the business. Whilst the forecasts include inherent estimation uncertainty, the Group have determined that there would be sufficient taxable income generated to realise the benefit of the deferred tax assets. As part of our recoverability analysis, the Group has performed a sensitivity analysis on taxable profits growth over the next five years. The Group's forecasted taxable profits would have to decline by over 25% over the next five years before there is a risk that the deferred tax asset is not fully recovered in that period.
12. Cash and Cash Equivalents
2023 | 2022 | |
| ?'000 | ?'000 |
비유동 자산 |
| |
현금 및 현금성 자산 | 750 | 750 |
금액 | 750 | 750 |
Non-current asset amount of ?750k, relates to a rental guarantee in place which has been classified in non-current assets as the guarantee is in place for a period of longer than 12 months after the balance sheet date. As the amount is held in a bank account which can be accessed by the Group the amount has been disclosed as a cash and cash equivalent.
유동 자산 현금 및 현금성 자산 | 6,714 | 18,212 |
금액 | 6,714 | 18,212 |
현금 및 현금 등가물의 잔액은 현금 및 단기 은행 예금으로만 구성됩니다.
13. Share Capital
No of shares of ?0.01 each | 보통주 | 프리미엄 공유 | 금액 | |
| (수천) | ?'000 | ?'000 | ?'000 |
31년 2022월 XNUMX일 | 117,511 | 1,175 | 14,328 | 15,503 |
Share issue - Restricted share award 20 February 2023 | 1,028 | 10 | - | 10 |
Warrants issue to HPS, 29 March 2023 | 3,315 | 33 | - | 33 |
Share issue - LTIP, 16 May 2023 | 1,646 | 17 | - | 17 |
Share issue - SAYE | 139 | 1 | 97 | 98 |
31년 2023월 XNUMX일 | 123,639 | 1,236 | 14,425 | 15,661 |
The Group has one class of ordinary shares which carries no right to fixed income. The share capital of the Group is represented by the share capital of the parent company, Hostelworld Group plc. All the Company's shares are allotted, called up, fully paid and quoted on the London Stock Exchange and Euronext Dublin.
As part of legacy debt facility drawn down during COVID-19 on 19 February 2021, the Group agreed to issue warrants of 3,315,153 ordinary shares of ?0.01 each in the capital of Hostelworld (equivalent to 2.85% of Hostelworld's issued share capital at the time of warrants issue). On 29 March 2023 HPS exercised their warrants and 3,315,153 shares were issued.
On 20 February 2023, the company issued 1,027,655 shares to satisfy restricted share awards granted by the Company at a value ?0.01 per share.
On 16 May 2023 the Company issued 1,645,994 shares to satisfy long term incentive plan awards in relation to LTIP 2020 at a value ?0.01 per share.
A number of shares were issued at ?0.01 per share regarding the 2020 SAYE scheme. On 09 October 2023, the Company issued 122,665 shares, on 20 October 2023 the Company issued 7,867 shares and on 04 December 2023 the Company issued a further 7,868 shares.
14. Other Reserves
The analysis of movement in reserves is shown in the statement of changes in equity.
Reconciliation and movement of amounts included in other reserves are set out below:
| 외화 환산 준비금 | 주식기준보상준비금 | 보증 준비금 | 총 기타 매장량 |
| ?'000 | ?'000 | ?'000 | ?'000 |
|
|
|
| |
01년 2022월 XNUMX일 잔액 | 40 | 3,362 | 3,073 | 6,475 |
|
|
|
| |
해외사업장 환산차이 | (11) | - | - | (11) |
이송 된 exercised and expired share-based awards | - | (2,431) | - | (2,431) |
주식결제형 주식기준보상금에 대한 자본적립 | - | 2,399 | - | 2,399 |
31 년 2022 월 XNUMX 일 잔액 | 29 | 3,330 | 3,073 | 6,432 |
|
|
|
| |
해외사업장 환산차이 | (24) | - | - | (24) |
이송 된 exercised and expired share-based awards | - | (2,082) | - | (2,082) |
행사, 부여 또는 영장 만료 시 이전 | - | - | (3,073) | (3,073) |
주식결제형 주식기준보상금에 대한 자본적립 | - | 1,665 | - | 1,665 |
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|
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31 년 2023 월 XNUMX 일 잔액 | 5 | 2,913 | - | 2,918 |
The warrant reserve related to the warrants exercisable with HPS Investment Partners LLC (or subsidiaries or affiliates thereof). On 29 March 2023 3,315,153 shares were issued to HPS on issuance of warrants.
15. Warehoused Payroll Taxes
2023 | 2022 | |
| ?'000 | ?'000 |
비유동 부채 | ||
Warehouse payroll taxes | 6,425 | 9,438 |
금액 | 6,425 | 9,438 |
2023 | 2022 | |
| ?'000 | ?'000 |
유동 부채 | ||
Warehouse payroll taxes | 3,204 | - |
금액 | 3,204 | - |
Total warehoused payroll taxes | 9,629 | 9,438 |
그룹은 2021년 2022월부터 XNUMX년 XNUMX월까지 기간 동안 발생하는 모든 아일랜드 고용주 세금에 대한 아일랜드 수익 세금 창고 계획 및 연기 지불을 이용했습니다.
Total warehoused liability as at 31 December 2023 was ?9,629k (2022: ?9,438k), including an interest charge incurred of 3% on the outstanding warehoused liability debt since 01 May 2023. On 05 February 2024 the Irish Revenue Commissioners announced that the applicable rate of interest on these will reduce to 0%, with any amounts already paid being refunded or accrued being written off.
The Group has agreed initial repayment terms with the Irish Revenue Commissioners of a 15% downpayment in May 2024, following by regular monthly repayments thereafter over a 3-year period which is reflected in the classification of the liability between current and non-current. The Group continues to monitor and comply with the appropriate Revenue guidelines applicable to this scheme.
16. Trade and Other Payables
2023 | 2022 | |
| ?'000 | ?'000 |
유동 부채 | ||
매입 채무 | 3,314 | 3,944 |
미지급금 및 기타 미지급금 | 7,272 | 5,136 |
이연 수익 | 3,891 | 3,201 |
Payroll taxes (non-warehoused) | 587 | 582 |
금액 | 15,064 | 12,863 |
At 31 December 2023, ?3,438k of revenue was deferred relating to free cancellation bookings (2022: ?3,005k), ?434k was deferred relating to featured listings (2022: ?178k) and ?19k was deferred relating to Roamies (2022: ?18k).
17. 차입금
2023 | 2022 | |
| ?'000 | ?'000 |
기초 잔액 | 31,113 | 28,209 |
Repayments (HPS) | (34,066) | - |
Drawdown (AIB) | 17,369 | - |
Repayments (AIB) | (7,167) | - |
Transaction costs relating to borrowings (AIB) | (170) | - |
금융 비용 | 2,342 | 4,243 |
Finance costs (exceptional items) 금융이자지급 | 2,827 (2,101) | - (1,339) |
금액 | 10,147 | 31,113 |
On 09 May 2023, the Group refinanced its credit facilities with AIB plc. This included cancelling and fully repaying its previous facilities held by Hostelworld Group PLC of ?30,000k with HPS Investment Partners LLC (or subsidiaries or affiliates thereof). Hostelworld.com Limited entered into a new facility of ?20,000k comprising of a ?2,500k undrawn overdraft, a ?7,500k RCF facility and a ?10,000k term loan facility. An amount of ?17,369k was drawn down, net of arrangement fee.
The purpose of the facility is to meet the day-to-day working capital requirements of the Group. The AIB term loan and RCF each had an initial interest rate payable of 3.75% over EURIBOR. In July 2023 this reduced to 3.25%, when the ratio of Net Debt to adjusted EBITDA was less than 2 times. The interest rate reduced further in October 2023 to 2.65% over EURIBOR as Net Debt to adjusted EBITDA was less than 1 times. Relating to the facilities, during the year the Group repaid ?5,500k of its RCF facility and repaid ?1,666k of its term loan with AIB.
시설에 첨부된 재정 약정은 다음과 같습니다.
1. Maintaining a minimum cash balance on hand of ?6,000k;
2. Ensuring an interest cover of not less than 3:1. Interest cover is defined as the ratio of Adjusted EBITDA to gross interest paid in respect of any relevant period. Covenant is tested quarterly, based on the prior 12-month actuals; and
3. Ensuring the Groups adjusted leverage ratio does not exceed 3:1. Adjusted leverage is defined as the ratio of net debt on the last day of each quarter to adjusted EBITDA in respect of the 12 months to the quarters reporting date.
그룹은 해당 기간 동안 계약을 위반하지 않았습니다.
The prior facility related to a ?30,000k five-year term loan facility with HPS drawn down in February 2021. On 05 April 2023 the Group repaid ?10,000k of the HPS facility and on 09 May 2023 the amount owing on the facility was repaid in full. An early repayment penalty of 2% applied. Total repayment penalty costs of ?686k are included within Exceptional items. The April and May repayments totalled ?34,066k which comprise of ?30,000k principal and ?4,066k PIK interest capitalised as at 31 December 2023. Balance of PIK relating to 2023 included in Finance interest paid. Between the first and third anniversaries of drawdown of the HPS facility, Hostelworld elected to capitalise 4.0% per annum of the accruing interest with the balance of the interest during that period.
Finance interest paid during the year totalled ?2,101k (2022: ?1,339k), comprised of HPS cash interest of ?1,067k (2022: ?1,339k), AIB cash interest of ?583k (2022: ?nil), and HPS PIK ?451k (2022: ?nil).
차입금은 연결재무상태표에서 다음과 같이 분류됩니다.
2023 | 2022 | |
| ?'000 | ?'000 |
비유동차입금 | 4,807 | 30,869 |
현재 차입금 | 5,340 | 244 |
금액 | 10,147 | 31,113 |
영장 발행:
In connection with the HPS facility, Hostelworld agreed to issue warrants over 3,315,153 ordinary shares of ?0.01 each in the capital of Hostelworld (equivalent to 2.85% of Hostelworld's current issued share capital at the time of issue of the warrants) to HPS. The warrants were exercisable at any time during the term of the loan and for a twelve-month period following its scheduled termination at an exercise price of ?0.01 per ordinary share. Shares issued will be the same class and carry the same rights as existing shares. An amount of ?3,073k was recorded for the initial recognition of the warrants calculated on the basis of the market price of the shares on the date of the agreement 19 February 2021 of ?3,106,538 minus the subscription price of ?33,152 (3,315,153 X ?0.01). On 29 March 2023 HPS exercised their warrants and 3,315,153 shares were issued.
18. Events After the Balance Sheet Date
On 05 February 2024 the Irish Revenue Commissioners announced that the applicable rate of interest on warehoused payroll tax balances outstanding will reduce to 0%, with the reduction in rate applying to any interest amounts accrued to date. This is a non-adjusting event.
There have been no other significant events after the balance sheet date.
RNS는 귀하의 IP 주소를 사용하여 약관 준수 여부를 확인하고, 귀하가 이 커뮤니케이션에 포함된 정보를 사용하는 방식을 분석하고, 그러한 분석을 익명으로 다른 사람과 상용 서비스의 일부로 공유할 수 있습니다. RNS와 런던 증권 거래소가 귀하가 제공한 개인 데이터를 사용하는 방법에 대한 자세한 내용은 개인 정보 보호 정책을 참조하십시오.