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Classified in: Tourism and vacations, Transportation, Science and technology, Business, Covid-19 virus
Subject: ERN

eDreams ODIGEO outperforms market, triples Prime members to 2.9m and makes substantial progress towards 2025 targets


BARCELONA, Spain, May 26, 2022 /PRNewswire/ -- eDreams ODIGEO (www.edreamsodigeo.com), Europe's largest online travel company, the largest globally in terms of flights outside of China and one of the largest European e-commerce businesses, today reports its results for Q4 and the year ended 31 March 2022.

With 247 websites and apps in 44 countries, 21 languages and 37 different currencies on one central platform, eDreams ODIGEO (eDO) now covers 80% of the global travel market.

Throughout FY22 we have seen the travel market improve and recover significantly, eDO outperformed the market (and its competitors) by a significant margin, and we positioned ourselves for future success with our innovative approach including the first and leading subscription programme in travel ? Prime ? which today[1] has 2.9 million members, triple that of a year ago.

Dana Dunne, CEO of eDreams ODIGEO said: "Throughout FY22, we have continued to make strong progress in revolutionising travel and reinventing the travel experience through the ongoing success of our global, leading subscription model, Prime and pre-eminent worldwide position in flight bookings. We have gained market share, further enhanced our proposition and continue to thrive as a global business.

We see immense potential, for example 225 million households alone in Europe that we have targeted to become Prime customers. We know we will reach our targets for 2025 and this will represent a significant milestone while bringing substantial value to all our stakeholders.

FY23 has started very well indeed with travel markets opening as the pandemic subsides. eDreams ODIGEO is optimally placed and in pole position to take advantage of the undoubted desire to travel and the continued digitalisation of our markets. With FY23 volumes continually at record levels, significantly above 2019, and Prime membership continuing to rapidly grow, we are confident of future success."

Financial Information and Income Statement with increase in Prime Deferred Revenue Summary  


(in ? million)

4Q

FY22

4Q

FY21

Var. %

12M

FY22

12M

FY21

Var. %

Revenue Margin

 

118.9

30.1

295%

382.6

111.1

244%

Increases Prime Deferred Revenue

 

7.9

2.0

290%

41.2

10.7

284%

Cash Revenue Margin

 

126.8

32.1

295%

423.8

121.8

248%

Cash EBITDA

 

10.8

(8.9)

n/a

44.2

(27.4)

n/a

Adjusted EBITDA

 

2.9

(10.9)

n/a

3.0

(38.2)

n/a

Net Income

 

(10.9)

(54.6)

n/a

(65.9)

(124.2)

n/a

Adjusted Net Income

 

(9.8)

(20.8)

n/a

(52.3)

(86.8)

n/a

(in thousands)

 


Bookings

 

3,602

900

300%

12,531

3,244

286%

 

For more information, click here.

 

About eDreams ODIGEO 

eDreams ODIGEO is one of the world's largest online travel companies and one of the largest e-commerce businesses in Europe. The business is the second largest flight retailer globally and the largest in Europe. Under its four leading online travel agency brands ? eDreams, GO Voyages, Opodo, Travellink, and the metasearch engine Liligo ? it serves more than 17 million customers per year across 44 markets. Listed on the Spanish Stock Market, eDreams ODIGEO works with over 690 airlines and +2.1 million hotels. The business conceptualised Prime, the first subscription product in the travel sector which has attracted 2.9 million members since launching in 2017. The brand offers the best quality products and the widest choice of regular flights, low-cost airlines, hotels, dynamic packages, cruises, car rental services and travel insurance products to make travel easier, more accessible, and better value for consumers across the globe.

[1] eDO Prime members as of 17th May 2022
[2] Last twelve months up to 31 January 2020

SOURCE eDreams ODIGEO


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