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SEC Filings

6-K
TRIVAGO N.V. filed this Form 6-K on 07/25/2018
Entire Document
 

 
Three months ended June 30,
 
Six months ended June 30,
2018
 
2017
 
Δ €
 
Δ %
 
2018
 
2017
 
Δ €
 
Δ % Y/Y
Americas
84.1

 
115.8

 
(31.7)
 
(27)%
 
181.3

 
218.0

 
(36.7)
 
(17)%
Developed Europe
92.8

 
120.6

 
(27.8)
 
(23)%
 
197.3

 
234.1

 
(36.8)
 
(16)%
Rest of World
54.2

 
58.6

 
(4.4)
 
(8)%
 
108.4

 
107.2

 
1.2
 
1%
Total Referral Revenue
231.1

 
295.0

 
(63.9)
 
(22)%
 
487.0

 
559.3

 
(72.3)
 
(13)%
Other Revenue
3.9

 
3.3

 
0.6
 
18%
 
7.4

 
6.7

 
0.7
 
10%
Total Revenue
235.0

 
298.3

 
(63.3)
 
(21)%
 
494.4

 
566.0

 
(71.6)
 
(13)%
Note: Some figures may not add due to rounding.

Total Revenue decreased by €63.3 million, or by 21% during the second quarter of 2018, and by €71.6 million or by 13% during the six months ended June 30, 2018, in each case compared to the same period in 2017. In both periods, revenue levels were negatively impacted by lower levels of commercialization, as our advertisers optimized their spending across regions and negative impacts from unfavorable movements in foreign exchange rates as well as in the second quarter of 2018, revenue levels were particularly negatively impacted by a decline in Qualified Referrals.

Referral Revenue in the second quarter of 2018 decreased to €84.1 million, €92.8 million and €54.2 million, or by 27%, 23% and 8% in Americas, Developed Europe and Rest of World ("RoW"), respectively, as compared to the same period in 2017. Referral Revenue in Americas was negatively impacted by declining Qualified Referrals reflecting the reductions in the advertising spend, persistently lower levels of commercialization and unfavorable movements in foreign exchange rates, reflecting the relative weakening of the U.S. dollar to the euro. Referral Revenue in Developed Europe was negatively impacted by persistently lower levels of commercialization and a decline in Qualified Referrals, reflecting the reductions in advertising spend in that segment during the second quarter of 2018. Referral Revenue in RoW was negatively impacted by persistently lower levels of commercialization and unfavorable movement in foreign exchange rates, reflecting the relative weakening of certain currencies in the Asian Pacific region against the euro, partly offset by an increase in Qualified Referrals.

Referral Revenue in the six months ended June 30, 2018 decreased to €181.3 million and €197.3 million, or by 17% and 16% in Americas and Developed Europe respectively, as compared to the same period in 2017. Referral revenue in the six months ended June 30, 2018 increased slightly to €108.4 million or by 1% in RoW as compared to the same period in 2017. Referral Revenue in Americas was negatively impacted by the decline in Qualified Referrals reflecting the reductions in the advertising spend, lower commercialization and the unfavorable foreign exchange effects described above. Referral Revenue in Developed Europe was negatively impacted by lower levels of commercialization and the decline in Qualified Referrals, reflecting the reductions in the advertising spend as discussed above. Referral Revenue in RoW slightly increased compared to the same period in 2017 as the positive effect from increased Qualified Referrals was almost completely offset by declining levels of commercialization and the unfavorable foreign exchange effects described above.

Other Revenue grew by 18% to €3.9 million in the second quarter as compared to the same period in 2017. This increase was primarily driven by an increase in the number of Hotel Manager Pro subscriptions for which we receive a fee.


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