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 platfo...
Autore: Business Wire
BARCELONA, Spain: 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.
Our results demonstrate that Prime is not just an innovative idea or a nascent business; it is a proven success model. Our subscribers have higher satisfaction rates, book significantly more often, and value an AI-tailored, personalised experience. This strengthens our business, making it more predictable and stable while also benefiting consumers and industry partners too.
As we continue to develop, our focus is on leveraging this solid foundation to continue to achieve further sustained and scalable long-term growth. With our current penetration rate in the low single digits, we see a vast addressable market ahead. Our potential beyond fiscal year 2025 is enormous. We are confident that we can make significant further progress in the years to come”.
About eDreams ODIGEO
eDreams ODIGEO is the world’s leading travel subscription platform and one of the largest e-commerce businesses in Europe. Under its four renowned online travel agency brands – eDreams, GO Voyages, Opodo, Travellink, and the metasearch engine Liligo – it serves more than 21 million customers per year across 44 markets. Listed on the Spanish Stock Market, eDreams ODIGEO works with nearly 700 airlines. The business launched Prime, the first subscription product in the travel sector which has topped 5.8 million members since launching in 2017. The brand offers the best quality products in regular flights, low-cost airlines, hotels, dynamic packages, car rental and travel insurance to make travel easier, more accessible, and better value for consumers across the globe.
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1Cash EBITDA: “Adjusted EBITDA” plus the variation of the Prime deferred revenue corresponding to the Prime fees that have been collected and that are pending to be accrued.
2Cash Revenue Margin: "Revenue Margin" plus the variation of the Prime deferred revenue corresponding to the Prime fees that have been collected and that are pending to be accrued.
3Cash Marginal Profit: "Marginal Profit" plus the variation of the Prime deferred revenue corresponding to the Prime fees that have been collected and that are pending to be accrued.
4Cash Flow: (Free) Cash Flow ex Non-Prime Working Capital means Cash EBITDA and adjusted for cash flows from investing activities, tax payments and interest payments (normalised interest payments, excluding one-offs linked to refinancing).
Fonte: Business Wire