Company Announcements

Trustpilot Group plc

16 June 2022

Capital Markets Day 2022 

Trustpilot Group plc (“Trustpilot”), a leading global review platform, is hosting a capital markets event for institutional investors and equity analysts in London today.

Speaking ahead of the event, Peter Holten Mühlmann, founder and CEO, commented:

“The scale of the market opportunity is significant. We have a leading open platform which drives powerful network effects that amplify Trustpilot’s brand, giving us a real competitive advantage. I truly believe that this, combined with a clear go to market strategy, will enable us to capitalise on the growth opportunity.

Our business is very resilient, with a product that is sticky and embedded in our customers’ businesses. We generate attractive unit economics which we expect to get better as we get bigger, as demonstrated by the profitability of the UK, our most scaled business. Our business has multiple avenues for long-term growth in revenue and adjusted EBITDA^*, and retains a founder-led, purpose-driven culture.

This combination of resilience, predictability and compelling unit economics, as well as the strength of our balance sheet, underpins our confidence in, and commitment to, continued disciplined investment to capture the long-term opportunity in front of us.

This is our priority, and the strength of our business means we believe we can deliver all of that whilst also achieving adjusted EBITDA breakeven for FY2024.”

During the day, management presentations will provide further insight into the following key topics:

-  Value proposition
-  Trust and content integrity
-  Go-to-market strategy
-  Marketing strategy
-  Regional profitability

The event will be led by founder and CEO Peter Holten Mühlmann, with presentations from members of the senior management team. A live webcast will be available for registered participants from 10:30 BST today via https://investors.trustpilot.com, where the presentations and an on-demand replay of the event will be made available after the event. No material new information will be shared during the event.

* Adjusted EBITDA being defined as earnings before interest, tax, depreciation and amortization, adjusted to exclude share-based compensation and restructuring costs.

Enquiries

Trustpilot Investor Relations

Derek Brown

+44 20 4534 5222

Tulchan Communications

James Macey White

Matt Low

Jordan McCulla

+44 20 7353 4200

Trustpilot was founded in 2007 with a vision to create an independent currency of trust.

A digital platform that brings businesses and consumers together to foster trust and inspire collaboration. We are free to use, open to everybody and built on transparency.

Trustpilot hosts reviews to help consumers shop with confidence, and deliver rich insights to help businesses improve the experience they offer. The more consumers use our platform and share their own opinions; the richer the insights we offer businesses; and the more opportunities they have to earn the trust of consumers, from all around the world.

Trustpilot has over 850 employees and is headquartered in Copenhagen, with operations in London, Edinburgh, New York, Denver, Melbourne, Amsterdam, Milan, Berlin and Vilnius.

Important Information

This announcement has been prepared for information purposes only and does not constitute an offer to sell, or a solicitation of an offer to subscribe for or purchase, any securities in any jurisdiction, and is not for publication or distribution in or into any jurisdiction where such publication or distribution is unlawful.

Nothing in this announcement is intended to form the basis of, or be relied upon in connection with, any investment decision and nor should it be construed as legal, tax, regulatory, financial, accounting or investment advice or a recommendation to subscribe for, purchase or dispose of any securities.   Before making any investment decision you should consult with your own advisers in relation to such matters and make your own independent assessment and conduct such investigations as you deem necessary.  

This announcement may include statements that are, or may be deemed to be, “forward-looking statements”.  These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “anticipates”, “expects”, “intends”, “plans”, “may”, “will” or “should” or, in each case, their negative or other variations or comparable terminology.  They may appear in a number of places and may include statements regarding Trustpilot’s intentions, beliefs or expectations.  By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future.  Forward-looking statements are not guarantees of future performance and future performance may differ materially from that set out in or suggested by the forward-looking statements set out in this announcement.   Forward-looking statements speak only as at the date of this announcement and, subject to the requirements of applicable law, any obligation to release any update of, or revisions to, any forward-looking statements in this announcement is expressly disclaimed. As a result, caution should be exercised when considering such forward-looking statements. 

Past performance cannot be relied on as a guide to future performance. 

Nothing in this announcement is intended to constitute a profit forecast or profit estimate.  Trustpilot utilises a range of alternative performance measures (“APMs”) to assess its performance and this announcement may contain certain financial measures that are not defined or recognised under IFRS.  Any APMs used in this announcement should not be considered superior to, or a substitute for, measures calculated in accordance with IFRS.  You should not consider any such APMs in isolation, but in conjunction with measures calculated in accordance with IFRS.  APMs used by Trustpilot are unaudited and may not be comparable to similarly titled measures reported by other companies as those companies may define and calculated such measures differently.