Results Report

1Q FY 2024

Free translation from the original document in Spanish.

In the event of discrepancy, the Spanish-language version prevails

  1. A brief look at eDreams ODIGEO and KPIs
  2. Financial Performance
  3. Other Information
  4. Condensed Consolidated Interim Financial Statements and Notes
  5. Alternative Performance Measures

A brief look at eDreams ODIGEO and KPIs

  1. A brief look at 1Q FY2024 eDreams ODIGEO KPIs
  2. Results highlights
  3. Prime model a proven success - Further improvements on disclosure to better understand the subscription model
  4. Why invest in eDreams ODIGEO

eDreams ODIGEO A brief look at eDreams ODIGEO and KPIs

1.1. A brief look at 1Q FY2024 eDreams ODIGEO KPIs

Global Leader

Largest

58%

4,712K

€75.5

20M

44

Travel Subscription

Player Worldwide

Mobile

Prime Members(1)

Prime ARPU (1)

Customers(4)

Markets

in Flight Revenues, ex China

Bookings(1)(2)

+47% YoY

(From €86.0 )

(From 53%)

(From 3,213k )

€166.9M

57%

690

+100M

+1.8Bn

2.1M

€52M

Airlines

daily user searches

daily AI(3) predictions

Hotels

€29.4M

€20.0M

€1.1M

€4.1M

Cash Revenue

Prime Share

Cash EBITDA(1)

Adjusted EBITDA(1)

Adjusted Net Income(1)

Net Income

Cash Marginal

Margin(1)

Cash Revenue Margin (1)

(From €14.0M)

(From €0.6M)

(From €(11.5)M)

(From €(13.9)M)

Profit(1)

(From €159.1M)

(From 41%)

(From €33.5M)

Prime Share 65%

Information presented based on 1Q FY24 vs 1Q FY23 year-on-year variations.

(1) See definition and reconciliation of Non GAAP measures in section 5. Alternative Performance Measures. (2) Ratio is calculated on a LTM basis. (3) Artificial Intelligence. (4) FY 2023.

4

eDreams ODIGEO A brief look at eDreams ODIGEO and KPIs

1.2. Results highlights

In 1Q FY24 the strength of the Prime model continues to drive significant improvements in profitability

  • Cash EBITDA (*) stood at €29.4 million, more than doubled the €14.0 million reported in 1Q FY23. Cash EBITDA Margin
    (*) had 9pp improvement in just one year. As guided, the maturity of Prime members (*) is the most important driver for profitability, and this has resulted in substantial improvements in profitability as we have more and more Prime members (*) renewing their memberships.
  • Cash Marginal Profit (*) stood at €52.0 million, up 55%, and the margin had a 10pp improvement in just one year as well.
  • Prime share of Cash Marginal Profit (*) already reached 65% of the Group total. Shift in the Group's results from transactional to subscription lead for the Group to change the reporting breakdown.

Prime model proven to be a success

  • In 1Q FY24 we reached 4.7 million subscribers, a 47% increase vs same period last year, despite the industry moving to more normalised seasonality patterns. In August (**) Prime members (*) stood at 4.9 million.
  • Cash Revenue Margin (*) for Prime (QUARTERLY FIGURE & NEW REPORTING KPI) shows significant improvement (up 46% vs 1Q FY23), in line with growth in Prime members (*), and as a share of the total Cash Revenue Margin (Prime share up from 41% in 1Q FY23 to 57% in 1Q FY24).

Well on track to meet self-imposed FY25 targets

  • Prime Members (*) - Our quarterly net adds (***) in the quarter are ahead of implied run rate needed to achieve FY25 target of 7.25 million Prime members.
  • Prime ARPU (*) - As guided, is trending towards mid €70s and then will converge with our FY25 guidance of €80 per user. In 1Q FY24 Prime ARPU stood at €75.5 per user.
  • Cash EBITDA (*) - Our 1Q FY24 results demonstrated that an increasing share of year 2+ Prime members has a very positive impact on margins (doubled in just one year). Our most recent results demonstrate we continue to be well on track to meet our self-imposed target of over €180 million in FY25.

Longer term - eDO has beyond FY25 strong fundamental growth potential.

  1. See definition and reconciliation of Non GAAP measures in section 5. Alternative Performance Measures. (**) As of 22nd August 2023.
    (***) Net adds: Gross adds - Churn

5

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

eDreams Odigeo SA published this content on 31 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 August 2023 05:59:04 UTC.