eDreams ODIGEO outperforms the market and triples the number of core members

eDreams ODIGEO: Results for the 12-month period ending March 31, 2022

eDreams ODIGEO outperforms the market and triples the number of Prime members to 2.9 million, makes significant progress towards 2025 goals

eDreams ODIGEO, Europe’s leading online travel agency, the world’s largest by flights outside of China and one of Europe’s largest e-commerce companies, today released its results for the fourth quarter and year ending March 31, 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.

During fiscal year 2022, the travel market improved and recovered significantly. eDO has outperformed the market (and its competitors) by a large margin, and our innovative approach has allowed us to put the possibilities on our side for future success. This approach includes the first and flagship subscription travel program, Prime, which is now available [1] 2.9 million members, three times more than last year.

  • Strong financial and operational improvement, significantly outperforming the market
    • Recorded 12.5 million reservations, exceeding pre-pandemic levels, and top 10 % compared to bookings made before COVID-19 [2]
    • Diversification income reaches 340 %, i.e. 73 Percentage of Total Revenue (Fiscal Year 2021: 57 %)
    • Cash turnover increased by 248 % to reach 423.8 million euros, compared to 121.8 million euros for fiscal year 2021
    • Net cash margin, at €107.4 million, is three times higher than that for fiscal year 2021
    • EBITDA earnings turned positive, at €44.2 million
    • Strong balance sheet with improved financial position further through fundraising of €75 million and bond refinancing in January 2022
  • Let’s revolutionize travel and lead a successful transition to the subscription model
    • Prime membership continues to grow rapidly, with more than 482,000 new members in the last quarter
    • Today 1, it is three times larger than it was at the start of fiscal 2022, with 2.9 million members, and continues to grow
    • All proprietary infrastructure has been revamped to enable Prime’s growth and development
    • A vast market exploitable all over the world, 225 million potential families in Europe alone
  • Notable Achievements for Fiscal Year 2022
    • Moving from an online airline ticket selling service with the best fares and flight options to a subscription model that offers greater added value
    • Much higher than the industry average for mobile bookings – the best overall mobile experience
    • Better customer retention and higher customer value throughout the lifecycle
    • Strong customer loyalty and average income that they generate throughout their customers’ lives.
    • Significant expansion of market and travel portfolio share by offering hotels, cars, trains and any other travel product
    • Continuously improving our technology platform to deliver the best and fastest online experience
  • Good progress towards 2025 self-determined goals
    • Target of 7.25 million members: 2.9 million members achieved, growing rapidly
    • EBITDA of €180 million: already at €44.2 million (compared to €27.4 million in FY21)

Dana Dunn, CEO of eDreams ODIGEO said: During fiscal year 2022, we continued to make strong progress in revolutionizing travel and reinventing the travel experience through the continued success of our market-leading global subscription model, Prime, and through our global leadership position in flight reservations. We gained market share, improved our offerings, and continued to thrive as a global company.
We see huge potential, for example, we have targeted 225 million households in Europe alone as major customers in the future. We know we will achieve our 2025 goals and this will be a significant milestone while delivering significant value to all of our stakeholders.
Fiscal 2023 has already started off very well, with travel markets gradually opening up as the pandemic subsides. eDreams ODIGEO is ideally positioned and at the forefront of capitalizing on the undeniable desire for travel and the ongoing digitization of our markets. With fiscal year 2020 volumes still at record levels, well above 2019, and with the continued and rapid increase in Prime membership numbers, we are confident of our future success.

Financial information and income statement with an increase in deferred revenue from Prime
(in millions of euros) T4 FY 22 Fourth quarter of fiscal year 21 % mouse. 12 million from fiscal year 22 12 million from fiscal year 21 % mouse.
business volume 118.9 30.1 295% 382.6 111.1 244%
Increase in deferred revenue from Prime 7.9 2.0 290% 41.2 10.7 284%
cash turnover rate 126.8 32.1 295% 423.8 121.8 248%
EBITDACash 10.8 (8.9) Unavailable 44.2 (27.4) Unavailable
Adjusted EBITDA 2.9 (10.9) Unavailable 3.0 (38.2) Unavailable
Net profit (10.9) (54.6) Unavailable (65.9) (124.2) Unavailable
adjusted net income (9.8) (20.8) Unavailable (52.3) (86.8) Unavailable
(in thousands)
Reservations 3,602 900 300% 12,531 3,244 286%
About eDreams ODIGEO

eDreams ODIGEO is one of the largest online travel companies in the world and one of the largest e-commerce companies in Europe. The company is the largest aviation seller in the world, outside of China, and the largest in Europe. Under the four main brands of online travel agencies – eDreams, GO Voyages, Opodo, Travellink and Liligo – they serve more than 17 million customers annually in 44 countries. eDreams ODIGEO listed on the Spanish Stock Exchange works with more than 690 airlines and more than 2.1 million hotels. The company has developed the concept of Prime, the travel industry’s first subscription product that has attracted 2.9 million members since its launch in 2017. The brand offers the best quality products and the widest selection of scheduled flights, low-cost airlines, hotels, dynamic packages, cruises, car rental services and products Travel insurance to make travel easier, more convenient and beneficial to consumers all over the world.

glossary of terms EBITDA cash

Means “Adjusted EBITDA”, plus the change in deferred Prime revenue corresponding to Prime fees collected and awaiting recognition. Prime pending fees are non-refundable and will be recognized as revenue on a usage basis, i.e. each time a customer uses Prime to make a reservation at a discount, or upon expiry of the Prime contract term. Cash EBITDA gives the reader an overview of the current EBITDA sum and all prime costs generated during the period. net cash margin

“Net Margin” means in addition to the change in deferred basic income corresponding to the initial fee collected and still being recognized. Prime pending fees are non-refundable and will be calculated as revenue on a usage basis, which refers to each time a customer uses Prime to make a reservation at a discount, or upon expiry of the Premium contract. Net cash margin provides a measure of the sum of net margin and all initial fees generated during the period. cash turnover rate

“Revenue” means in addition to the change in deferred Prime Revenue corresponding to the Prime Fee that has been collected and is still being recognized. Prime pending fees are non-refundable and will be recognized as revenue based on usage, i.e. each time a customer uses Prime to make a reservation at a discount, or upon expiry of the Prime contract term. Cash income provides a measure of the total revenue and all primary fees generated during the period.

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