trivago Q4 2024 Earnings Report

Constellation Brands EPS Results

• Actual EPS: $0.07
• Consensus EPS: $0.05
• Beat/Miss: Beat by +$0.02
• One Year Ago EPS: N/A

Constellation Brands Revenue Results

• Actual Revenue: N/A
• Expected Revenue: $92.72 million
• Beat/Miss: N/A
• YoY Revenue Growth: N/A

Constellation Brands Announcement Details

• Quarter: Q4 2024
• Date: 2/4/2025
• Time: After Market Closes
• Conference Call Date: Wednesday, February 5, 2025
• Conference Call Time: 8:15AM ET

Constellation Brands (NYSE:STZ), together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands. It also offers wine under the Cook's California Champagne, Kim Crawford, Meiomi, Mount Veeder, Ruffino, SIMI, My Favorite Neighbor, Robert Mondavi Winery, Schrader, and The Prisoner Wine Company brands; and spirits under the Casa Noble, Copper & Kings, High West, Mi CAMPO, Nelson's Green Brier, and SVEDKA brands. The company provides its products to wholesale distributors, retailers, on-premise locations, and state alcohol beverage control agencies. Constellation Brands, Inc. was founded in 1945 and is headquartered in Victor, New York.

Constellation Brands Q4 2024 Earnings Call Transcript

Presentation

[Operator]

Good day, ladies and gentlemen. Thank you for standing by, and welcome to the trivago Q4 Earnings Call twenty twenty four. I must advise you the call is being recorded today, Wednesday, 02/05/2025.

[Operator]

We We are pleased to be joined on the call today by Johannes Thomas, trivago's CEO and Managing Director and Robin Harries, trivago's CFO and Managing Director. The following discussion, including responses to your questions, reflects management's views as of Tuesday, 02/04/2025 only, unless expressly stated otherwise, in which case it reflects management's views as of today, Wednesday, 02/05/2025 only. Trivago does not undertake any obligation to update or revise this information. As always, some of the statements made on today's call are forward looking, typically preceded by words such as we expect, we believe, we anticipate, or similar statements. Please refer to the Q4 twenty twenty four operating and financial review and trivago's other filings with the SEC for information about factors which could cause trivago's actual results to differ materially from these forward looking statements.

[Operator]

You will find reconciliations of non GAAP measures to the most comparable GAAP measures discussed today in trivago's operating and financial review, which is posted on trivago's Investor Relations website at ir.trivago.com. You are encouraged to periodically visit trivago's Investor Relations website for important content. Finally, unless otherwise stated, all comparisons on this call will be against results from the comparable period of 2023. And with that, let me turn the call over to Johannes.

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

Thank you, everyone, for joining us on our Q4 twenty twenty four earnings call. I'm excited to share that after one point five years of intense groundwork and strategic execution, we achieved revenue growth in Q4 twenty twenty four. This marks a turning point for us as we see solid momentum heading into 2025. We are pleased to report that we achieved 5% growth in referral revenue and delivered $11,100,000 in adjusted EBITDA last quarter, both exceeding our expectations. The start of this quarter has been equally promising with strong double digit top line growth across all segments.

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

Key drivers of our performance include major product enhancements over the past year and continued positive returns from our brand marketing investments. As we look ahead to 2025 and beyond, we are well positioned for continued growth. Early results from our new AI powered marketing campaign featuring our brand ambassador, Jurgen Klopp, have been promising. We have already launched brand marketing campaigns in more than 23 key travel markets this year. We remain disciplined in our approach aiming to invest near breakeven adjusted EBITDA levels.

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

Although it's still early in the year, we expect to achieve at least high single digit revenue growth in 2025. We see significant margin and growth potential, especially since our revenue has not yet returned to pre COVID levels. The major reason for this delay in recovery has been conservative brand marketing investments during the pandemic and the rebound phase in 2022. However, we cost corrected starting in Q2 twenty twenty three with the arrival of the new leadership team. Shortly after, we increased our brand investments and rebuilt a world class brand marketing team.

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

We have focused our technology investments on improving our hotel search and price comparison products. We have multiplied the number of experiments conducted on our website, resulting in substantial improvement in conversion rates during 2024. Since our arrival, we have cultivated a performance driven culture that prioritizes continued learning and rapid execution. We have accelerated the pace of experimentation, rigorously measuring impact and boldly scaling successful initiatives. We implemented OKRs across the organization, established a new performance measurement approach and enhanced our reward structures to better incentivize impactful contributions from our employees.

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

Our aim is to instill an entrepreneurial mindset with the objective of delivering more value to our user and partners faster. We made AI a central focus within our organization. One of our first initiatives in 2023 was to establish a company wide AI ambassadors group and fast track the implementation of GenAI tools, enabling our talents to leverage the technology. Today, we have built a competitive AI infrastructure with 70% of our employees reporting that these tools save them thirty minutes or more each day. We have launched AI powered TV ads, new personalization algorithms for our search results and unique AI highlights for over 300,000 hotels.

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

In November, we unveiled our new AI Smart Search, offering travelers entirely new ways to search for hotels. We are very excited about the widespread internal AI adoption, which is unlocking both productivity gains and the potential to further increase user value. Trivago is a leading brand in a large and expanding market. We are well positioned in a market estimated to be over $1,500,000,000,000 in size. Especially, the hotel segment is highly attractive in terms of margin and scope.

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

We are among the strongest and most recognized travel brands across three markets in developed Europe, The Americas and Asia. This brand recognition is an invaluable asset that we aim to continually leverage and strengthen. Compared to pre COVID levels, there remains significant potential for us to increase our brand investment in the coming years, which we expect to be a growth driver. Our value proposition is more relevant than ever, particularly in an era where travelers seem to be price conscious. Our research indicates that about half of U.

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

S. Travelers place a high value on securing competitive prices. More than 40% actively seek out deals and compare prices across various booking sites. Since the pandemic, the number of deals and price discrepancies we have identified has significantly increased. U.

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

S. Travelers who use trivago to compare prices have a good chance of saving up to 40%. We aim to unlock value for our shareholders and users by

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

diligently executing on our strategy.

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

Going forward, our strategy will be captivating ads that strongly convey our value proposition. Our second strategic priority is our core Hotel Surge product. We will continue to run dozens of experiments at a time and improve user experience and conversion rates for our core products. Further, we will dedicate investments to develop a differentiated member proposition. We want price savvy travelers to start their journey on trivago instead of other search engines or GenAI applications.

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

These efforts will be complemented by investments and personalization of our search results in cutting edge AI features on trivago. Our third strategic priority is to empower our partners to maximize their potential on trivago. A key initiative in 2025 will be the evolution and expansion of trivago Booking Go, a facilitated booking funnel for our partners that offers them the opportunity to increase conversion rates and competitiveness in our marketplace. We believe that these priorities will drive sustainable growth and value to our users as well as partners. On behalf of our leadership team, I would like to thank our remarkable talent whose hard work and dedication were essential to return to growth.

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

We look forward to continuing our successful journey together. With that, I'll turn over the call to Robin for a detailed financial review.

[Robin Harries, CFO, MD & Member of Management Board at trivago]

Thank you, Johannes, and good morning, everyone. Q4 marks an important milestone for us. It is the first time since Q1 twenty twenty three that we can demonstrate top line revenue growth again. Total revenues grew by 3% to million in the fourth quarter compared to the same period last year, primarily driven by a 5% increase in referral revenue. We believe that returning to year over year growth represents a turning point in our strategic multi year effort to revitalize the brand and achieve our previously announced goal of double digit revenue growth in the mid term.

[Robin Harries, CFO, MD & Member of Management Board at trivago]

We are pleased with the strong start to the year and have seen strong double digit growth in January compared to the prior year. As of the end of Q4 twenty twenty four, we had over million in cash, no long term debt and maintained robust financial health. Our focus on branded revenue growth continues to be a fruit with further positive developments over the quarter. Additionally, our efforts to enhance booking conversions and lead quality are making us an increasingly attractive marketing channel for our partners. Let's now delve into our Q4 results and outlook for 2025.

[Robin Harries, CFO, MD & Member of Management Board at trivago]

Unless otherwise stated, all comparisons for 2024 are on a year over year basis. In the fourth quarter, our total revenue was million representing a 3% increase compared to the same period in 2023. In our Rest of World segment, preferred revenues increased by 15%, the Americas experienced an 8% increase and Develop Europe showed a 2% decline which although negative is an improvement from the previous quarter. Our brand investment efforts are yielding positive results again particularly in Develop Europe and the rest of world segments where we achieved double digit revenue growth from branded channel traffic year over year. In The Americas, we saw mix effect with brand revenue growth in North America and a decline in LatAm where we did not focus our investment deposits in Q4.

[Robin Harries, CFO, MD & Member of Management Board at trivago]

Despite the positive branded revenue growth, we continued to face challenges in our performance marketing channels primarily due to changes in Google advertising formats. These changes have introduced volatility and resulted in traffic volume losses. However, we have observed stabilization over the past months which is encouraging. We remain committed to disciplined opportunity driven investment strategy and will not compromise long term brand investments to offset performance marketing volume losses. While monetization was softer this quarter compared to the prior year, it remained healthy in The Americas whereas it was slightly negative in the rest of world and headwinds in developed Europe still persists.

[Robin Harries, CFO, MD & Member of Management Board at trivago]

During the fourth quarter, we reported a net income of million and achieved an adjusted EBITDA of million. The adjusted EBITDA in Q4 exceeded our expectations primarily due to a higher than expected revenue growth and more efficient marketing resulting in a higher return on ad spend growth. Operational expenses decreased by million totaling million for the fourth quarter primarily due to million reduction in general and administrative expense and million lower selling and marketing expense partly offset by million higher technology and content expenses. Advertising spend increased by 18% in The Americas and 3% in rest of world while decreasing by 15% in developed Europe. While overall advertising spend was only slightly more than the same period in 2023, we invested proportionally more into our brand marketing channels.

[Robin Harries, CFO, MD & Member of Management Board at trivago]

This increase was driven by stronger brand marketing spend, especially in developed Europe and Americas, partly offset by reduced performance marketing spend, particularly in developed Europe. Globally our growth improved from Q4 twenty twenty two with improvements in developed Europe and the rest of world due to better marketing efficiency. The growth in The Americas was below Q4 twenty twenty three due to strong marketing investments. Looking ahead, travel demand remains solid and healthy. We continue to provide high quality traffic to our partners and we are optimistic about regaining more advertiser appreciation over time.

[Robin Harries, CFO, MD & Member of Management Board at trivago]

We remain confident in our ability to the full year 2025 to grow total revenue by at least high single digit percentage levels compared to the same period in 2024. We expect adjusted EBITDA to be at least at breakeven as we continue reinvesting our profits into our marketing strategy. We see substantial opportunities to scale our brand marketing activities enabling us to reach a larger audience and positively impact overall revenues long term. With that, let's open the line for questions. Operator, we are now ready to take the first question.

[Operator]

Thank you so much. All right. Looks like our first question today comes from Navad Khan with B. Riley Securities. Naved, please go ahead.

[Naved Khan, Managing Director - Equity Research at B. Riley Securities]

Okay, great. Thanks a lot. Congrats on the return to growth and the positive with the I just have two questions. One on your commentary about getting to double digit growth on the top line. Trying to understand what needs to happen for you to accelerate growth into a double digit from current levels.

[Naved Khan, Managing Director - Equity Research at B. Riley Securities]

And then in terms of just your brand campaigns for 2025, do you plan to expand this into new markets beyond the '23 that you're already in or do you just want to increase the spending in the existing market? Just talk about that. Thank you.

[Robin Harries, CFO, MD & Member of Management Board at trivago]

Hi, Nevit. This is Robin. Thanks for the question. Regarding top line growth, as we said, we already see strong double digit top line growth in January. So we are very happy about the start into the year.

[Robin Harries, CFO, MD & Member of Management Board at trivago]

And moving forward, we see opportunities to scale our brand investments, which we think is the right thing and which is important. And we also uploaded investor presentation this time and there you can see that we have a big opportunity to further scale our brand marketing investment and this will be of course one driver for our performance. And the other is to further improve the product. We see nice developments here. The retention goes up, conversion rates go up.

[Robin Harries, CFO, MD & Member of Management Board at trivago]

We deliver better quality leads to our partners so that we think it's brand and its product. And in terms of the brand marketing campaign this year, we started in over 20 markets. In the past we had TV campaigns running in around 50 countries. So yes, there are further opportunities to also go into new markets. But there are also further opportunities to scale the investments in the current markets.

[Naved Khan, Managing Director - Equity Research at B. Riley Securities]

Just on the double digit commentary for January, so you're still expecting sort of high single digit I think is the outlook for the year. Why should does January have easy comps or why do you expect to go to slow?

[Robin Harries, CFO, MD & Member of Management Board at trivago]

So January is or was much better than we expected. So we had it in our plan, but the numbers now are much stronger in terms of top line, in terms of bottom line. We see nice double digit growth also in all three segments. We see growth in all channels. So the marketing campaigns are good, they're efficient, we're happy about the product and yes, that's it.

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

The full year maybe

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

I think why full year it's still at least I think what we corrected in our messaging is high single digit. We made at least high single digit. So the first the start into the year is a signal for the full year, but it's still early in the year. So correcting how we look at full year is a bit early for us. And I think when we are more confident that we will revise that.

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

And it is true Q1 comps is easier than rest of the year where we already ramped up more in summer. That's why we expect Q1 to be one of the stronger quarters.

[Robin Harries, CFO, MD & Member of Management Board at trivago]

Yes. So in terms of the revenue growth compared to 2024, we as Johannes said, we see Q1 as a strong quarter because of the comps and then certainly Q3 will be also a strong quarter because this is the quarter where we invest the most and where we have the highest where we expect the highest revenues.

[Naved Khan, Managing Director - Equity Research at B. Riley Securities]

Thank you, Johannes. Thank you, Robin.

[Operator]

All right. Thanks, Naved. And our next question comes from the line of Douglas Anmuth from JPMorgan. Douglas, please go ahead.

[Dae Lee, VP - Equity Research at JP Morgan]

Hey, this is David on for Doug. Thanks for taking the questions. I have two. So when you look also 2025, you talked about in the tightening of the percent of growth. And I guess there's potential that that could be higher.

[Dae Lee, VP - Equity Research at JP Morgan]

So as you get more revenues, the idea to continue ramping brand investments and keeping adjusted EBITDA, those to breakeven and when could that flip and you guys could start generating more profitability? And then secondly, on AI SmartSearch, really I realized it's still early days here but curious if you have any early learnings to show on how searches that start on AI SmartSearch is different in terms of conversion or monetization or any other, KPIs where you're seeing different results there?

[Robin Harries, CFO, MD & Member of Management Board at trivago]

Thanks for the questions. This is Robin. I take the first one. So in this stage, we believe that achieving growth is more important than being profitable. So we say we steer the business at least adjusted EBITDA breakeven.

[Robin Harries, CFO, MD & Member of Management Board at trivago]

We don't want to have losses, but we take the money and we invest it into growth opportunities. And when we look into where we are coming from, where we were pre COVID, when we look at the revenue levels, we believe that this is a huge opportunity for us. And we also see when you look into the Q4 numbers, I just mentioned the strong side in January, we are convinced that it's the right thing to invest it into brand marketing. And brand marketing is not only TV advertising, it's connected TV, it's online video, it's brand campaigns. So we are convinced that this is a very good opportunity for us.

[Robin Harries, CFO, MD & Member of Management Board at trivago]

That's why we rather take the money and invest it into growth to become more relevant and to become to more relevant and nicer revenue levels and yes.

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

And how we maybe on this Johannes here. How we are trading this off is just looking at when do we see diminishing returns of our investments and

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

when we see the returns are not coming as we anticipate and that depends also this year, what's the elasticity of our spend, which currently looks very promising and that's when we see that elasticity going down then we would turn more into profitability. Given the size of trivago compared to pre COVID, the overall market is just a lot of gain we can get by activating our brand, bringing it top of mind faster and from there then turn into more attractive profitability levels. And then you had AI SmartSearch. Johannes, I comment on that quickly. We're very excited about that product because we've not seen anybody else launching it or having similar features like that.

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

It is basically a new way of searching. Traditionally, you search for city, then you put a date and then you get a result. On smart, on smart search, you can basically type a semantic free search sentence, basically. Yeah. You could say, I'm looking for a hotel that has rooms with views on the Eiffel Tower.

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

We give you a result and our AI hotel highlights that we scaled up over the course of the last year to 300,000 hotels on 27 markets reflect basically over your query. So you have a new way of searching hotels and you can do searches that go beyond a city or a polygon kind of. You could search something like I'm looking for a hotel close to the Route 66 with a pool. So we get really good results out of that and we're very happy with that feature. We are very, let's say, conservative in how we are surfacing that to our users.

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

It's currently a standalone feature you can access and use. We have, I think it was actually this week, we have launched and making that part of our search suggestions to educate people on using free search functionality. And I think that will to manage expectation from experience that user behavior changes on trivago or generally, it's just a very slow process. So similar as you have seen mobile share going up over many years, we think the same here as well. We will not push users into a product just to get numbers up.

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

It will be a gradual behavior change that we will be watching and depending on the results, we will increase its exposure or not.

[Dae Lee, VP - Equity Research at JP Morgan]

Great. Thank you.

[Operator]

Great. Thanks for the question. And our next question comes from the line of Ron Josey with Citibank. Ron, please go ahead.

[Analyst]

Hi, this is Robert. On for Ron. Thanks for taking the question. You mentioned potentially introducing a differentiated member proposition in the prepared remarks. Can you maybe just help us understand how your approach would differ from a traditional loyalty program and perhaps expand on the strategic rationale for loyalty program on trivaga?

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

Yes. Hi, Ron.

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

This is Johannes. Thank you for asking this question. I think it's pretty important. I think one angle and the main reason why we are approaching this is that we want to differentiate to other search engines GenAI's that will basically try to show live prices for hotels and so on. So we think a lot of shoppers, price conscious people are on trivago and we want to basically lock those users in and using trivago start their journey on trivago.

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

That's the core rationale of logging these users in. It's a relevant double digit percentage of our business where we think this proposition will be built for. You can see that we today already and we talked about it last year, we have worked with partners to share expense rates. So there are basically deals that are not allowed to be publicly visible, but they are allowed to be shared for members. So we are sourcing these deals with our partners and then basically inform our users about it, our members.

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

And users basically get better prices if they log in. We don't really need a member loyalty program around it. We just give this value to users that are logging in. And that's a strong why you should log in. There is other things like we are informing you that your hotel got cheaper, if prices have changed, and other perks we are working on to make this attractive.

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

But I think the strongest reason is that you just get better prices if you log in and probably the strongest angle we're seeing here.

[Analyst]

Got it. And you mentioned a quick follow-up. You also you called out specifically that Booking Go is a key initiative for this year for 2025. So I'd love to hear how you see Total Tail Partnership evolving over the next few months here. And then given you have the option to purchase the remaining equity, what would have to happen for you to exercise this option?

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

Yes, good question as well. So we are very thrilled about the partnership, continue to think that was a very good decision. The team of Hollisto is very strong. They've delivered on our OKRs we have aligned with them on. And we've taken tests live that we are basically the proof of concepts of book and go that we want to see.

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

And now we are assessing scalability and it's still early before we can share, I think, concrete numbers given the complexity of projects we have. But over time, we basically want to checkbox, are they delivering on their OKRs and are they are we happy with the results we are seeing from Book and Go. And I think we have the call option for quite some time and in the course of that we will take a decision, but there's no decision on that so far.

[Analyst]

Great. Thank you.

[Operator]

Great. Thanks, Robert. And just a reminder, folks, one last call to, ask a question. Once again, star and the number one on your telephone keypad. Once again, star one.

[Operator]

And our next question comes from the line of Wei Fang with Mizuho. Wei, please go ahead.

[Wei Fang, Director at Mizuho Securities]

Thank you. And this is Wei calling for James. Congrats on the turnaround. Just a quick, double click onto your branded channel. Can you help maybe talk about any metrics that you can share such as repeat customers or like organic traffic mix, etcetera, that you are seeing right now?

[Wei Fang, Director at Mizuho Securities]

Thank you.

[Robin Harries, CFO, MD & Member of Management Board at trivago]

Hi Wei, this is Robin. Thanks for congrats on the question. And so we don't disclose further KPIs regarding our brand traffic or brand revenue. It's I mean how we look at it. We have our brand campaigns running.

[Robin Harries, CFO, MD & Member of Management Board at trivago]

We look at direct response. We look at brand after effects. We look at unaided brand awareness. So quality measures. There's a right range of KPIs that we look at and then we optimize it really performance based.

[Robin Harries, CFO, MD & Member of Management Board at trivago]

So that means we look at the direct response. We look at how many people do we reach, how many people come to our website, what do they do. So there's a couple of metrics but this is actually not there's nothing that we disclose but we have I think we started in when was it to '29 or so relatively early with our brand marketing campaigns and have quite some quite good understanding about how to optimize it and how to measure success of brand marketing campaigns.

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

And maybe one comment on retention. I think everybody in

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

the space knows how difficult it is to measure retention and travel given the low usage on average. I think this how we think about it, the stronger proxy for retention is conversion rate. So if we see conversion rates going up, particularly among our branded users, that's for us a proxy that retention is moving. And part of why we think results are better than expected in Q4 and Q1, the product is a big part of it. In our investor presentation that we have shared as well, you will see indication of how conversion rate has changed and that can make a big difference on retention and the trajectory we are seeing.

[Wei Fang, Director at Mizuho Securities]

Great. Thank you very much.

[Operator]

Thanks, Wei. And that does conclude today's question and answer session. So I will now turn the call back over to Johannes Thomas for closing comments. Johannes?

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

Yes. Thank you for joining today. I want to remind you of the investor presentation. Have a look. I think there's a lot of insights of what we think has driven performance last year and will drive performance this year.

[Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago]

Overall, we are very proud of the progress made in Q4 twenty twenty four and encouraged about the momentum we are seeing in this year. And we are confident on the strategy and focus on execution to deliver strong results for our shareholders. Thanks a lot for joining today and see you soon.

[Operator]

Thank you so much. And ladies and gentlemen, that concludes today's call. Thank you again for joining and you may now disconnect. Have a great day everyone.

Participants

Analysts

• Johannes Thomas, Managing Director, Member of Management Board & Chief Executive Officer at trivago
• Robin Harries, CFO, MD & Member of Management Board at trivago
• Naved Khan, Managing Director - Equity Research at B. Riley Securities
• Dae Lee, VP - Equity Research at JP Morgan
• Analyst
• Wei Fang, Director at Mizuho Securities