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eDreams ODIGEO: First Quarter Results to June 30th 2016

Pressemeldinger   •   aug 26, 2016 13:14 CEST

  • Barcelona, 26 August, 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 first quarter ended June 30th 2016.
  • RESULTS HIGHLIGHTS
  • Strong growth in bookings (+11%), revenue margin (+9%) and Adjusted EBITDA (+30%)
  • Adjusted net income of €9.2million, representing a 172% increase year-on-year
  • Successful debt deleveraging. Group successfully repurchased€30 million of the 2018 notes
  • Solid cash flow with cash position of €111.7 million (€140.8 million excluding debt repurchase, up 14% year-on-year)
  • Flight: revenue margin up +9%. Non-flight: revenue margin up +12%
  • Core Markets: Bookings positive trend continued (+12%), revenue margin growth (+10%); Expansion Markets: growth in bookings (+11%), revenue margin (+9%)
  • Full year guidance reiterated

Dana Dunne, CEO, commented:

  • “This has been a strong first quarter, with growth in bookings and revenue margin in both our flight and non-flight businesses and a marked decrease in variable costs per booking resulting in increased profitability. This quarter’s results are further evidence that our strategic initiatives are continuing to bear fruit.”
  • He added:
  • “The strong performance has been driven by the strength of our consumer offer and our ongoing focus on the quality of our customer service. Looking forward, we will be increasing investment in our business and customer proposition in order to capitalise on the long-term and sustainable growth opportunities available to us.”

FIRST QUARTER 2017 FISCAL YEAR RESULTS

In the first-quarter ended June 30, 2016, eDreams ODIGEO delivered a strong financial performance. The strategy announced in June 2015 continues to drive improvements in the business, and is consequently delivering positive growth rates in bookings (+11%), revenue margin (+9%) and adjusted EBITDA (+30%).

The quarter also saw strong profitability and solid cash flows. Adjusted net income was up significantly at €9.2million, representing a 172% increase year-on-year. Our cash position at the end of the quarter stood at €111.7 million, taking into account the successful debt deleveraging. Excluding the debt repurchase, cash position would have stood at €140.8 million, up 14% year-on-year.

Summary Income Statement

3M 3M
June June Var
(in € million) 2015 2016
Revenue Margin 113.8 124.2 9%
Adjusted EBITDA 22.4 29.0 30%
Non-recurring items -3.4 -2.0 -41%
EBITDA 19.0 27.0 42%
EBIT 14.7 23.1 57%
Net income 0.7 7.7 N.A.
Adjusted net income 3.4 9.2 172%
Adjusted EBITDA quarterly evolution (YoY variation)


Business review by geography

Bookings and revenue margin growth in Core and Expansion markets was solid in the first quarter. In Core bookings the growth was driven by solid performance in Spain, Italy and France and in particular the flight business which experienced strong growth rates. In our Expansion markets the increase relates to Germany, as well as the UK and International markets.

Core Revenue margin Expansion Revenue margin

In € Million In € Million

   

Business review by Flight/Non-Flight

Progress in strategic initiatives continued to deliver solid growth in flight bookings and revenue margin, driven by both Core and Expansion markets. Revenue margin in flight experienced solid growth due to continued efforts to improve product, re-orient price and channel performance.

Non-flight business bookings continued to grow, driven by our core markets. Booking growth in most non-flight products, except for packaged tours which continued to decrease.

Non-flight revenue margin grew for the third consecutive quarter. The growth was primarily driven by a 9% increase in revenue margin per booking which itself was driven by development of metasearch, non-transactional revenue and growth in our cars, hotels and dynapacks business.

Flight Revenue margin Non-flight Revenue margin

In € Million In € Million

   

Outlook

The focus for FY2017 will be on improving the profitability and investing in the long term sustainability of the business.

We aim to invest in areas that reinforce our long term sustainability and are in the best interest of the customer, even if it leads to a trade-off between short term and long term results. We will also reduce areas in which we are not as profitable and are not as strategic to long term success.

On phasing, we expect a strong first half which will underpin most of the growth expected this year and which will allow us to accelerate the investments in the transformation of the business in H2 leading to a lower second half of the year.

The annual targets for fiscal year 2017 are as follows:

  • Bookings:In excess of 10.7 million
  • Revenue margin: In excess of €463 million
    • Adjusted EBITDA: €105 million (+10% growth), +/- €2 million
  • *NOTE

    Core Markets: Spain, Italy, and France

    Expansion Markets: All except the Core Markets

    International Markets: All except the Core Markets, Germany, the United Kingdom, and the Scandinavian countries

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.

Strong first quarter with growth in bookings, revenue margin and Adjusted EBITDA. Full year guidance reiterated.

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Pressemeldinger   •   jul 14, 2016 13:58 CEST

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​eDreams ODIGEO: Full Year Results to 31st March 2016

Pressemeldinger   •   jun 20, 2016 13:29 CEST

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

    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.

    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.

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    Om Travellink

    Travellink tilbyr rimelige reiser til hele verden

    Travellink er Nordens ledende internettreisebyrå med virksomhet i Norge, Sverige, Danmark, Finland og Polen. Travellink har tre forretningsområder: privatreiser, forretningsreiser og konferanse & event. Travellink inngår i eDreams Odigeo. eDreams Odigeo har virksomhet i 44 land.

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