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Hostelworld - Blow-out 43% bookings growth drives upgrades

December 2023

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • HSW
  • Price:
  • 119.5p
A well-timed addition to Trader Portfolio 2 with Hostelworld increasing FY23 EBITDA guidance to €17.5-18m, a 6% upgrade. This reflects record year-to-date GMV and revenue of €496m (+38% year-on-year) and €75m, respectively, in the first nine months. Net bookings grew 43% to 5 million. Marketing efficiency has also continued to improve as the proportion of bookings made by social members (low or no cost of customer acquisition) increased to 59% in September. As a result direct marketing as a percentage of revenue has fallen to 51% (down 10% year-on-year). Encouragingly, the strong earnings growth also dropped through to cash with net debt down from €16.2m at end of H1 to €13.4m. With net debt / EBITDA now below 1x, the interest rat ...

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