eDreams ODIGEO: Full Year Results to 31st March 2016

eDreams ODIGEO: Full Year Results to 31st March 2016


Strategic initiatives delivering growth in bookings, revenues and Adjusted EBITDA; Adjusted Net Income +50%

Barcelona, 20 June, 2016 – eDreams ODIGEO (www.edreamsodigeo.com), the largest flight retailer

in Europe and one of the world’s leading online travel companies, today reported its results for the

full year ended March 31st 2016.

RESULTS HIGHLIGHTS

  • Solid growth in bookings (+10%), revenue margin (+6%) and Adjusted EBITDA (+6%)
  • Adjusted net income of €20.1million, representing a 50% increase on the previous year
  • Cash position at the end of the period stood at €132.0 million, up 8%
  • Flight: revenue margin up +5%. Non-flight: revenue margin up +10%
  • Expansion Markets: growth in revenue margin +16% and bookings up +20%
  • Successful implementation of strategy:
  • o Significant improvement in customer experience

    o Business model changes in product, marketing and pricing – bookings (+10%) and

    variable cost per booking (-6%)

    o Mobile channel acceleration – bookings up 51%, 24% of all flight bookings in FY 2016

    o Advertising and Metasearch business grew 37%

  • Full-year results ahead of guidance
  • Outlook 2017: Bookings:>10.7 million; Revenue margin:>€463 million; Adjusted EBITDA €105
  • million (10% growth year-on-year), +/- €2 million

    Dana Dunne, CEO, commented

    “These results reflect significant progress made this year and a moment of transition for the

    business, with bookings, revenue margin and EBITDA all growing at a steady rate. Our Expansion

    markets continue to grow strongly and our Core markets returned to growth for a third consecutive

    quarter. The rapid increase in mobile bookings, ahead of the industry average has been particularly

    pleasing, along with improvements in our product, traffic re-orientation and revenue.”

    He added:

    “Looking ahead, we see a positive market environment for the company which will enable us to

    make travel easier, more accessible and better value for more customers. We expect further growth

    in bookings, revenue margins and adjusted EBITDA and to capitalise on the growth in the OTA

    market fuelled by the move from offline to online.”

    FULL FISCAL YEAR 2016 RESULTS

    In the 12 months ended March 31, 2016, eDreams ODIGEO delivered solid results. The strategy

    announced in June 2015 continues to drive improvements in the business, and is consequently

    delivering positive growth rates in bookings, revenue margin and adjusted EBITDA.

    The group is making good progress in all the strategic initiatives, including an improved product

    proposition, business model and channel mix realignment, as well as improved customer experience

    and satisfaction.

    This resulted in bookings growing 10% to 10.7 million, a rise of 6% in revenue margin to €463.3

    million, adjusted EBITDA growth accelerating in Q3 and Q4, up 6% year-on year, and adjusted Net

    Income rising by 50%.

    PLS SEE PDF VERSION FOR FULL TEXT/RESULT RELEASE.

    Information: PR Nordic, Anne-Marjut Väänänen, anne-marjut.vaananen@travellink.com

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