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• Profitability up 44% to €121.4 million, 1.5 million new members added

  • Outstanding financial delivery with a strong balance sheet

  • Profitability¹ soared to €121.4 million, up 44% from €84.4 million last year.

  • Sustained revenue² growth, up 9% to €676.1 million and sharply improved marginal profit³, up 32% to €217.3 million.

  • Adjusted net income reached €22.9 million.

• Subscription model drives sustained growth and long-term value

  • Membership surged by 34%, with a remarkable 1.5 million new Prime members added in the last 12 months alone, now topping 5.8 million.

  • Membership growth continues to be sustained over time: 3 million subscribers joined Prime in the last 24 months alone.

  • eDO is now fully a subscription business as 76% of its profits³ come from Prime.

  • Predictable and stable subscription model enhances financial flexibility and enables investments for future scalable growth.

  • Cash flow⁴ more than doubled, reaching €44.9 million (+123%) and will be up another +101% in fiscal year 2025 to hit €90 million.

• Share buyback

  • Given the current market price of its shares, the Company believes that it is in the best interest of shareholders to accelerate its existing shares repurchase programme. eDO will launch a tender offer at a price of €6.9 per share for the remaining 4.5 million shares to complete the 5.5 million shares necessary to fund the LTI plan for employees until FY27.

• Guidance reaffirmed

  • The business reaffirms FY25 targets: €180 million in Cash EBITDA and 7.25 million Prime members.

  • Significant growth potential beyond FY25

BARCELONA, Spain, May 30, 2024--(BUSINESS WIRE)--Dana Dunne, CEO of eDreams ODIGEO commented: "These outstanding results prove that eDreams ODIGEO and its unique business model have come of age. We are a world-leading, scalable subscription platform that delights customers and achieves superior financial performance. It is clear that our strategy and delivery have resulted in remarkable value creation, with a substantial opportunity for even greater value generation as our stock is yet to reflect our impressive performance and the considerable growth we have both achieved and expect.

As we progress into the final year of our ambitious 3.5-year strategic plan, it's evident that we have come a very long way. In 2021, when no one else was giving guidance, we boldly promised our shareholders that we would become the largest travel subscription company in the world – and we have successfully done that. Prime is now one of the fastest-growing subscription platforms in the world, growing over 10-fold since just before the pandemic. And we accomplished this despite the pandemic, travel restrictions, high inflation, macroeconomic uncertainty, and two wars. That is remarkable by any standards.