Strong First Half with continued growth in Bookings, Revenue Margin and Adjusted EBITDA; Adjusted Net Income +97% YoY; Free Cash Flow before Financing +338% YoY.
Barcelona, 18 November, 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 six months ended September 30th 2016.
H1 RESULTS HIGHLIGHTS
- Solid growth in bookings (+8%), revenue margin (+4%) and Adjusted EBITDA (+22%);
- Adjusted net income of €16.6million, representing a 97% increase year-on-year;
- Successful refinancing closed in October 2016;
- Solid cash flow with cash position of €110.4 million (up 3% year-on-year);
- Revenue diversification strategy driving growth in non-flight: Bookings (+3%) and revenue margin (+10%);
- Solid performance in all Core Markets: Bookings (+10%) and revenue margin (+7%);
- Successful implementation of strategy:
- Significant improvement in customer experience;
- Greater revenue diversification: Strong growth in flight ancillaries’ and advertising and metasearch revenues, and solid growth rates in car rentals and dynamic packages.
- Business model improvements in product, marketing and pricing delivering solid results - bookings (+8%) and variable cost per booking (-10%).
- Mobile channel acceleration - bookings up 37%, 29% of all flight bookings via mobile;
- Full year guidance reiterated
- Outlook 2017: Bookings: Above 10.7 million; Revenue margin: Above €463 million; Adjusted EBITDA €105 million (10% growth year-on-year), +/- €2 million
Dana Dunne, CEO of eDreams Odigeo
“We are pleased with the performance in the first half of the year with solid growth in bookings, revenue margin and Adjusted EBITDA. Our revenue diversification strategy is already yielding benefits, particularly in our non-flight business. As we expected, a combination of price re-orientation and channel mix re-alignment has resulted in slightly slower growth in our flight business. We remain confident in meeting our full-year guidance and believe that our strategic initiatives, which are already having a positive impact on the business, will continue to build a much stronger business.”
Having completed the first phase of our transformation programme in 2015-16 we are now implementing the second phase of our transformation which focuses on constantly improving the experience for our customers, using scale to improve our products and services to further drive longer term growth.”
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Travellink er Nordens ledende internettreisebyrå med virksomhet i Norge, Sverige, Danmark og Finland. Firmaet har tre forretningsrområder; privatreiser, forretningsreiser og konferanse & event. Travellink selger flyreiser fra 440 forskjellige flyselskap og over 550 000 hotell til mer enn 40 000 reisemål over hele verden. Travellink er sammen med eDreams, Go Voyages, Opodo og Liligo en del av eDreams ODIGEO, Europas største internettreisebyrå og e-commercefirma. eDreams ODIGEO finnes representert i totalt 44 land over hele verden. Bedriften tilbyr et stort utvalg av fly, hotell, leiebil og kombinasjon av fly og hotell.