trivago N.V. (NASDAQ:TRVG) Q1 2020 Earnings Conference Call - Final Transcript
May 19, 2020 • 08:15 am ET
Good day, ladies and gentlemen. Thank you for standing by and welcome to the trivago Q1 Earnings Call 2020. I must advise you the call is being recorded today, Tuesday 19th May 2020. We are pleased to be joined on the call today by Axel Hefer, trivago's CEO and Managing Director and Matthias Tillmann trivago's CFO.
The following discussion including responses to your questions, reflects management's views of today, Tuesday, May 19, 2020 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 Q1 operating and financial review and the company'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. 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 the company's IR website at ir.trivago.com. You are encouraged to periodically visit trivago's Investor Relations site for important content.
Finally, unless otherwise stated, all comparisons on this call will be against results for the comparable period of 2019.
With that, let me turn the call over to Axel. Please go ahead, sir.
Good morning, everybody. Many thanks for joining our Q1 earnings call. I hope you had the chance to read our shareholder letter that we filed yesterday. We have received very positive feedback on the format and will continue to publish it going forward.
Before we start the Q&A, I would like to point out one thing, despite all the challenges this unprecedented crisis is bringing to us personally and to the industry, we at trivago see this as an opportunity. An opportunity to focus our organization on our core, and structurally reduce our cost base; an opportunity to improve our core metasearch product while adding a complementary and more inspirational, local, and sustainable travel product; an opportunity to diversify our revenues by adding new revenue streams, such as display advertisement and sponsored listings; and an opportunity to set sustainable performance marketing levels going forward. We believe that these initiatives will allow us to leave the crisis, much stronger than we entered.
With that, we are now moving to Q&A.