eDreams ODIGEO Half year result 2015

Strategic initiatives on track and delivering results - Adjusted Net income increased by 62% vs the same period last year. 

Barcelona, November 24th, 2015 - eDreams ODIGEO (www.edreamsodigeo.com), one of the leading distributors of online flights in the world, today reported results for the six months ending 30 September 2015.

First Half Highlights

• First half results in line with guidance and optimization strategy delivering results
• Continued improvement in booking trends, up 8%
• Revenue margin growth of 6% to €230.8 million
• Stabilization of Adjusted EBITDA continued, up +1% to €44.4 million
• Flight: revenue margin up 7% and bookings up 10%
• Non-Flight: revenue margin up 3%
• Core markets: revenue margin down 4% but return to booking growth in second quarter in all 3 markets.
• Expansion markets: growth in bookings (+26%) and revenue margin (+22%).
• Adjusted net income of €8.4 million, increasing 62% vs the same period last year.
• Cash position at the end of the period stood at €106.9 million
• Strategic initiatives on track
• Full year guidance maintained

CEO Dana Dunne commented:
“The actions we have taken to stabilize the business are having an impact and we have delivered a good first half performance. Our booking trends are continuing to improve at a strong rate and our growing market shares are particularly encouraging.”

“At the same time, we are making strong progress in the strategy I set out in June. This has been particularly pronounced in the investment we have made in the customer experience both in the overall customer interface and specifically in mobile. This activity is already translating into strong client satisfaction scores which bode well for the future.”

“Looking forward, the stabilization in our financial performance allows us to reinvest to drive market share and revenue growth. Our strategy will continue to drive improvements across our business.”