23.01.2025 17:40:04

EQS-Adhoc: HomeToGo announces agreement on key terms for the acquisition of vacation rental management company Interhome

EQS-Ad-hoc: HomeToGo SE / Key word(s): Takeover
HomeToGo announces agreement on key terms for the acquisition of vacation rental management company Interhome

23-Jan-2025 / 17:40 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group.
The issuer is solely responsible for the content of this announcement.


HomeToGo announces agreement on key terms for the acquisition of vacation rental management company Interhome

Luxembourg, 23 January 2025 – HomeToGo SE (Frankfurt Stock Exchange: HTG) announces that today, following an auction proceeding and based on exclusive negotiations, it has reached an agreement on key commercial terms with Migros for the acquisition of Interhome. A purchase price (enterprise value) for the transaction in the low three-digit million range in Swiss francs is expected, including deferred payments of up to a high double-digit Swiss francs million amount.

The acquisition of Interhome would integrate Europe’s second largest vacation rental management company into the HomeToGo Group. Interhome is offering approximately 40,000 high-quality vacation rentals across 28 countries, which are largely under exclusive management. This acquisition would expand HomeToGo’s portfolio of software and tech-enabled service solutions across the entire host-to-guest value chain. It would represent HomeToGo’s most significant transaction to date.

HomeToGo management expects that the acquisition would substantially improve HomeToGo’s profitability and Free Cash Flow generation. On a combined pro-forma basis, should the transaction be completed, management estimates that HomeToGo Group’s IFRS Revenues in 2024 would amount to over €330M and Adjusted EBITDA in 2024 would amount to over €30M. Building on Interhome’s significant potential, HomeToGo management is targeting a mid and high double digit million Euro pro-forma Adjusted EBITDA for HomeToGo Group in the short and medium term, respectively.

The transaction would be financed through a combination of (i) a capital increase of the Company’s equity share capital against cash, (ii) a senior debt facility for which a financing agreement is in place, subject to customary closing conditions, and (iii) available net cash. The signing of the final share purchase agreement is currently anticipated in Q1 2025, with completion subject to regulatory approvals and other customary conditions.

As the discussions are ongoing and a definitive share purchase agreement has not yet been signed and is expected to be subject to certain closing conditions, there is no assurance that the transaction will be consummated.

 

Investor Relations Contact
Sebastian Grabert
+49 157 501 63731
IR@hometogo.com 

Forward-Looking Statements
Certain statements contained in this release may constitute “forward-looking statements” that involve a number of risks and uncertainties. Forward-looking statements are generally identifiable by the use of the words “may”, “will”, “should”, “plan”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “project”, “goal” or “target” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are based on assumptions, forecasts, estimates, projections, opinions or plans that are inherently subject to significant risks, as well as uncertainties and contingencies that are subject to change. No representation is made or will be made by HomeToGo SE that any forward-looking statement will be achieved or will prove to be correct. The actual future business, financial position, results of operations and prospects may differ materially from those projected or forecast in the forward-looking statements. Neither HomeToGo SE nor any of its affiliates assume any obligation to update, and do not expect to publicly update, or publicly revise, any forward-looking statements or other information contained in this release, whether as a result of new information, future events or otherwise, except as otherwise required by law.

Use of Non-IFRS Performance Measures
This release includes certain financial measures not presented in accordance with IFRS, which may exclude items that are significant in understanding and assessing the Company's financial results. These measures should not be considered in isolation or as an alternative to measures of profitability, liquidity or performance under IFRS. Regarding the alternative performance measures Adjusted EBITDA and Free Cash Flow, the Company refers to the corresponding definitions published on its IR website under IR resources (http://ir.hometogo.de/).



End of Inside Information

23-Jan-2025 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: HomeToGo SE
9 rue de Bitbourg
L-1273 Luxembourg
Luxemburg
E-mail: ir@hometogo.com
Internet: ir.hometogo.de
ISIN: LU2290523658, LU2290524383
WKN: A2QM3K , A3GPQR
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange
EQS News ID: 2073781

 
End of Announcement EQS News Service

2073781  23-Jan-2025 CET/CEST

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