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Record Cash EBITDA +70% to €42.6 million in Q3 and +40% to €123.7 million in the nine-months
Prime subscribers grew by +26% in Q3, surpassing 7 million in February
BARCELONA, Spain, February 20, 2025--(BUSINESS WIRE)--eDreams ODIGEO (hereinafter ‘eDO’, ‘the Company’ or ‘the Group’), the world’s leading travel subscription company and one of Europe’s largest e-commerce firms, today announced its results for the quarter and nine months ended 31 December 2024.
The Company continued to show strong growth driven by its subscription model. Prime now1 boasts over 7 million members after an outstanding performance of +26% in the third quarter, reaching 6.8 million members by the end of December 2024. As guided, the growing customer base and the increasing maturity of existing memberships continue to drive consistent profitability gains. The key profitability metric, Cash EBITDA, reached an all-time high of €123.7 million for the nine-month period, reflecting a 40% increase compared to last year. For Q3, Cash EBITDA grew to €42.6 million, 70% higher than the same period last year, and record achievement for the period. Similarly, eDO continued to expand its cash generation2 , which grew 91% to €68.4 million, up from €35.9 million last year.
With these excellent results and Q4 being seasonally the strongest, eDO is now set to meet its self-imposed 3.5-year targets by March 2025: 7.25 million Prime subscribers and Cash EBITDA of €180 million.
RESULTS HIGHLIGHTS
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eDO continued to deliver significant growth
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Prime membership continued to grow strongly, 26% year-on-year, reaching 6.8 million at the end of December, and today exceeding 7 million. Net adds3 in the third quarter reached 305,000.
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The maturity of Prime members is the key driver of profitability, resulting in significant improvements as more members renew their subscriptions.
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The key profitability metric, Cash EBITDA, reached a record €123.7 million for the nine-month period, up 40% compared to €88.6 million last year.
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For Q3, Cash EBITDA grew to €42.6 million, 70% higher than the same period last year, also marking record high for the period.
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Margins continued to expand sharply, driven by the strength of the subscription model. Cash Marginal Profit grew 27% to €201.4 million. With more members renewing their subscriptions, margins rise as acquisition costs decrease.
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Revenues4 reached €533.9 million in the nine-month period, a 5% increase, and €172.7 million in the third quarter, up 13%.
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Significant amount of cash2 continued to be generated, up 91% to €68.4 million in the nine months, allowing for future investment and shareholder returns.
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Net income reached €14.5 million on an adjusted basis in the nine-month period.
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