eDreams ODIGEO achieves all-time record in bookings and revenues, greater profitability and strong subscriber growth.

BARCELONA, Spain: eDreams ODIGEO (hereinafter 'eDO' or 'the Company'), one of the world's largest online travel companies and one of the largest European e-commerce businesses, today released its results for the 12 months ended 31st March 2023.

The Company achieved a number of records in the period, including the highest-ever levels of bookings, mobile bookings, revenues and subscribers. The continued and rapid sales growth, coupled with sharply improved margins, resulted in accelerating profitability. The business achieved 16.2 million record bookings, a +29% increase over the previous 2022 high and 42% above pre-COVID levels, and continued to outperform the broader travel market. Although the European and global travel markets are still below pre-pandemic levels, eDreams ODIGEO has achieved above 2019 levels for 7 consecutive quarters, the only major travel company to achieve this, demonstrating the Company's market-leading position and the strength of its customer proposition.

The key driver of the Company's outperformance is 'Prime', the world's first and largest travel subscription programme, which performed outstandingly with the addition of 1.7 million new subscribers, exceeding 4.3 million at the end of the fourth quarter, which represents 64% more than just one year ago.

eDreams ODIGEO's continued progress and success enable it to reconfirm its guidance for the fiscal year 2025: greater than 7.25 million Prime members, around EU80 ARPU (Average Revenue Per User) and Cash EBITDA in excess of EU180 million.

RESULTS HIGHLIGHTS

Record-breaking trading with strong improvement in profitability

- eDreams ODIGEO made further significant progress in the fiscal year 2023 with continued rapid revenue margin growth and sharply improved margins, resulting in rising profitability.

-- Cash Revenue Margin surpassed the EU600-million mark for the first time in the Company's history, reaching EU621 million and growing 47% in just one year. Revenue Margin increased 49% to EU569.6 million.

-- The business delivered strong growth in profitability as margins were sharply improved; + 8ppt since the start of the year. As guided, the maturity of Prime members is the most important driver for profitability. As more subscribers renew their memberships, profitability increases.

--- Marginal Profit and Cash Marginal Profit stood at EU113.2 million and EU164.7 million, an increase of 71% and 53% the amount in fiscal year 2022, respectively.

--- Cash Marginal...