Saga : 2023 Interims Results Presentation Vf

INTERIM RESULTS

for the six months ended 31 July 2022

27 SEPTEMBER 2022

AGENDA

Overview	Euan Sutherland Group CEO
Financial performance	James Quin Group CFO
Saga Travel	John Constable Saga Travel Group CEO
Strategy overview	Euan Sutherland
Conclusion

2 Interim results for the six months ended 31 July 2022

OVERVIEW

Euan Sutherland

Group CEO

RETURN TO UNDERLYING PROFIT AS CRUISE AND TRAVEL GROWTH BEGINS

Return to underlying profit for the first half and expect to report underlying profit for the full year in the range of £20-30m

Resilient performance within all business units:

On track to reach target Ocean Cruise load factor with per diems ahead of plan

Relaunched Travel business with new touring and stays proposition

Revenue growth in Saga Money following launch of new equity release product and new CEO

Disciplined Insurance approach in difficult market; stable margins and enhanced product range

Reported loss before tax of £257.5m, reflecting impairment of Insurance goodwill

Robust financial position with £179.0m of Available Cash and resumption of ocean cruise ship repayments

Good early progress against strategy with customer NPS growth and strengthened leadership team focused on delivery of Superbrand growth plan

4 Interim results for the six months ended 31 July 2022

MAXIMISING OUR EXISTING BUSINESSES

Cruise and Travel*

Strong Ocean Cruise bookings and progress on River Cruise alongside launch of new digital Travel business

66%		£318		8.8		36%
Ocean		Ocean		Ocean Cruise		Ocean
Cruise load		Cruise		guest		Cruise first
factor		per diem		satisfaction		time buyers
		(out of 10)
(HY 2021 - 56%)		(HY 2021 - £294)			(HY 2021 - 48%)
		(HY 2021 - 9.0)

Launched		£2,241		Launched		27k
new		Travel ave.		premium		River Cruise
Travel			jet
	revenue per			and Travel
offer		customer		touring		passengers
	(HY 2021 - £2,000)			(HY 2021 - 1k)

Insurance

Challenging market conditions with steps taken to

return to growth

+3%		£74		83%		50%
total		motor and		motor and		motor and
policies in		home margin		home		home direct
force		per policy		retention		share
		(HY 2021 - £76)		(HY 2021 - 81%)		(HY 2021 - 58%)

(8%)		Launch of		£18m		110%
	standard
motor and		one-year		prior-year		current year
home policy		motor		reserve		COR
sales			releases		(HY 2021 - 88%)
(HY 2021 - +0.5%)		product		(HY 2021 - £18m)

*Cruise refers to our Ocean Cruise and River Cruise businesses. Travel refers to Saga and Titan Travel's touring, stays and tailor-made products

5 Interim results for the six months ended 31 July 2022