eDreams ODIGEO achieves all-time record in bookings and revenues, greater profitability and strong subscriber growth
Outstanding performance reconfirms business on track to meet or exceed 2025 targets
BARCELONA, Spain, May 25, 2023 /PRNewswire/ -- eDreams ODIGEO (hereinafter 'eDO' or 'the Company'), one of the world's largest online travel companies and one of the largest European e-commerce businesses, today released its results for the 12 months ended 31st March 2023.
The Company achieved a number of records in the period, including the highest-ever levels of bookings, mobile bookings, revenues and subscribers. The continued and rapid sales growth, coupled with sharply improved margins, resulted in accelerating profitability. The business achieved 16.2 million record bookings, a +29% increase over the previous 2022 high and 42% above pre-COVID levels, and continued to outperform the broader travel market. Although the European and global travel markets are still below pre-pandemic levels, eDreams ODIGEO has achieved above 2019 levels for 7 consecutive quarters, the only major travel company to achieve this, demonstrating the Company's market-leading position and the strength of its customer proposition.
The key driver of the Company's outperformance is 'Prime', the world's first and largest travel subscription programme, which performed outstandingly with the addition of 1.7 million new subscribers, exceeding 4.3 million at the end of the fourth quarter, which represents 64% more than just one year ago.
eDreams ODIGEO's continued progress and success enable it to reconfirm its guidance for the fiscal year 2025: greater than 7.25 million Prime members, around €80 ARPU (Average Revenue Per User) and Cash EBITDA in excess of €180 million.
Dana Dunne, CEO of eDreams ODIGEO commented: "We are delighted to report outstanding results, with yet another year of successful strategic delivery. Even with the challenges posed by the market conditions, we continued to outperform the travel industry and significantly improved the profitability of our business, which was mostly driven by our unique subscription platform.
This year, we are proud to have achieved several historic milestones, including records in bookings, revenues, and mobile sales ever achieved in our 24-year history, all while successfully expanding our subscriber base at a robust pace. These remarkable accomplishments underscore the uniqueness of our offering and the strength of our winning proposition.
Our continued rapid growth is not only a testament to our successful strategy but also a source of long-term value for our shareholders, customers, partners, and team members. As we continue to lead in travel innovation with a forward-thinking, sustainable, and tech-driven business, we aim to push the boundaries of what is possible with technology and revolutionise the broader e-commerce industry, an ever-expanding multi-trillion euro segment with tremendous growth prospects.
Our excellent performance over the past twelve months would have not been possible without our outstanding people, our 'eDOers'. Their impressive work and dedication have a material impact on the experiences of millions of travellers worldwide and we take pride in seeing how their contributions are shaping the future of travel. We will keep on cultivating the best talent as we continue growing as a subscription-led business.
We remain committed to driving innovation and delivering exceptional value to all our stakeholders. As we look ahead to our 2025 horizon, we do so with ever-increased confidence that we will deliver on our word and meet, or even exceed, our self-set targets and unlock a much greater potential that extends well beyond 2025. These are truly exciting times for eDreams ODIGEO."
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About eDreams ODIGEO
eDreams ODIGEO is one of the world's largest online travel companies and one of the largest e-commerce businesses in Europe. Under its four leading online travel agency brands – eDreams, GO Voyages, Opodo, Travellink, and the metasearch engine Liligo – it serves more than 17 million customers per year across 44 markets. Listed on the Spanish Stock Market, eDreams ODIGEO works with nearly 700 airlines. The business conceptualised Prime, the first subscription product in the travel sector which has topped 4.6 million members since launching in 2017. The brand offers the best quality products in regular flights, low-cost airlines, hotels, dynamic packages, cruises, car rental and travel insurance to make travel easier, more accessible, and better value for consumers across the globe.
 As of 15th May 2023
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SOURCE eDreams ODIGEO