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SEC Filings

6-K
TRIVAGO N.V. filed this Form 6-K on 02/06/2019
Entire Document
 

Adjusted EBITDA does not reflect our cash expenditures or future requirements for capital expenditures or contractual commitments;
Adjusted EBITDA does not reflect changes in, or cash requirements for, our working capital needs;
Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and adjusted EBITDA does not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements; and
Other companies, including companies in our own industry, may calculate adjusted EBITDA differently than we do, limiting its usefulness as a comparative measure.

We are not able to provide a reconciliation of our adjusted EBITDA guidance to net income/(loss), the comparable GAAP measure, because certain items that are excluded from adjusted EBITDA cannot be reasonably predicted or are not in our control. In particular, we are unable to forecast the timing or magnitude of share-based compensation, interest, taxes, depreciation and amortization without unreasonable efforts, and these items could significantly impact, either individually or in the aggregate, net income/(loss) in the future.

Tabular Reconciliations for Non-GAAP Measures
Adjusted EBITDA (Adjusted Earnings Before Interest, Taxes, Depreciation & Amortization and Share-Based Compensation) (€ millions)

Three months ended December 31,

Twelve months ended December 31,

2018

2017

2018

2017
Net income/(loss)
11.7


(9.6
)

(20.8
)

(13.0
)
Income from equity method investment
0.0




0.1



Income/(loss) before equity method investment
11.6


(9.6
)

(20.9
)

(13.0
)
Expense/(benefit) for income taxes
8.2


(3.5
)

1.4


(4.8
)
Income/(loss) before income taxes
19.9


(13.1
)

(19.5
)

(17.8
)
Add/(less):











Interest expense
0.8


0.0


1.8


0.0

Gain on deconsolidation of entity


(2.0
)



(2.0
)
Other, net
(0.9
)

(0.5
)

(0.5
)

(0.6
)
Operating income/(loss)
19.8


(15.6
)

(18.2
)

(20.4
)
Depreciation
2.9


2.8


11.4


7.8

Amortization of intangible assets
0.4


0.4


1.7


3.2

EBITDA
23.1


(12.4
)

(5.1
)

(9.3
)
Share-based compensation
5.5


3.7


20.7


16.0

Adjusted EBITDA
28.6


(8.7
)

15.6


6.7

Note: Some figures may not add due to rounding.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance. These forward-looking statements are based on management’s expectations as of February 6, 2019 and assumptions which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. The use of words such as “intend” and “expect,” among others, generally identify forward-looking statements. However, these words are not the exclusive means of identifying such statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-
looking statements and may include statements relating to future revenue, expenses, margins, profitability, net income / (loss), earnings per share and other measures of results of operations and the prospects for future growth of trivago N.V.’s business.

Actual results and the timing and outcome of events may differ materially from those expressed or implied in the forward-looking statements for a variety of reasons, including, among others:

any reduction in spending or any change in bidding strategy by one or more of our largest advertisers and the effect of these changes on our profitability and revenue levels;
the extent to which our advertisers prioritize profitability over traffic growth;
our ability to be profitable in future quarters and to return to a growth trajectory as our business continues to mature;
our ability to increase advertiser diversity on our market;
the success of measures we are implementing aimed at maximizing the life-time value of the user, including the “attribution model” with respect to the allocation of performance marketing Advertising Spend;
global political and economic instability and other events beyond our control;
increasing competition and consolidation in our industry;
our advertiser concentration;
our ability to maintain and increase our brand awareness as we reduce our Advertising Spend;
our ability to maintain and/or expand relationships with, and develop new relationships with, hotel chains and independent hotels as well as OTAs;
our reliance on search engines, which may change their algorithms;
any inaccuracies in, or misinterpretation of, the assumptions and estimates and data we use to make decisions about our business;
the potential development and impact on us of legal and regulatory proceedings to which we are or may become subject;
our reliance on technology;
our ability to establish and maintain an effective system of internal control over financial reporting and avoid any future material weakness;
our ability to attract, train and retain executives and other qualified employees; and
our entrepreneurial culture and decentralized decision making;

as well as other risks and uncertainties detailed in our public filings with the SEC, including trivago's Annual Report on Form 20-F for the fiscal year ended December 31, 2017 as such risks and uncertainties may be updated from time to time. Except as required by law, we undertake no obligation to update any forward-looking or other statements in this release, whether as a result of new information, future events or otherwise.

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