Full Year 2023 Hostelworld Group PLC Earnings Call Transcript
Welcome, everybody, and thank you for joining us to talk about our 2023 preliminary results. I'm joined here today with them currently, Charlie, our CFO, and we've got a really exciting document to go through this morning.
So turning to the next slide, which is the normal disclaimers. I'm going to take those as read, and we will now move through into highlights and look at the financial summary numbers. Starting on the top left-hand corner, our net GMV was up 32% year-over-year, very, very strong growth, and we earn roughly 15% commission rate on that EUR619 million, which leads to a net revenue of EUR93.3 million. You'll see that the net revenue is actually up 34% versus the GMV at 32% that's because we have a few advertising products called featured listings, which is just nudge that up a little shade. We earned that revenue across 6.5 million bookings. You'll further note that net bookings is up 37% year over year versus revenue at plus 34. The delta there is obviously a slight contraction on ABV, and there's
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