eDreams ODIGEO Delivers Record Profitability, Revenues and Margins With Ambitious 3.5-Year Targets Achieved

• Strong growth fuels record profitability¹ of €180.4 million (+49% YoY); Prime subscriber base expands +25% to 7.26 million, surpassing 3.5-year self-set objectives.
• Revenues² rose to €718M (+6% YoY), beating the €700M threshold for the first time.
• +30% YoY growth lifts marginal profit³ to a record of €281.6 million.
• Exponential growth of cash generation⁴, surges +123% YoY to €100 million and exceeding guidance

eDreams ODIGEO ('the Company' or 'eDO'), the world's leading travel subscription company and one of Europe's largest e-commerce firms, today released record results for its fiscal year 2025, ended 31 March 2025, a period marking the successful achievement of its long-term strategic targets.

eDreams ODIGEO reported record performance with strong growth across key metrics for fiscal year 2025. Cash EBITDA increased 49% year-over-year to a high of €180.4 million, while Prime subscribers rose 25% to 7.26 million, both results surpassing the Company's ambitious long-term objectives. Furthermore, revenues climbed to €718 million (+6% YoY), passing the €700 million threshold for the first time. Marginal profit also reached a new peak at €281.6 million, up 30% year-over-year. Demonstrating robust financial strength, cash generation grew very strongly, 123% YoY to €100 million, exceeding guidance by 11%.

These landmark achievements mark the successful culmination of the Company's strategic plan, initiated in November 2021. This plan drove eDreams ODIGEO's full transformation into a market leading subscription, pioneering the Prime model and delivering rapid scaling in just 3.5 years. As a direct result, Prime membership has surged fourfold from approximately 1.97 million to 7.26 million, while Cash EBITDA has risen a remarkable 62-fold to €180.4 million from just €2.9 million at the strategy's outset.

Target	Baseline (November 2021)	FY25 Targets	FY25 Achievement
Prime Members	1.97 million	7.25 million	7.26 million
Cash EBITDA	€2.9 million	€180 million	€180.4 million
Free Cash Flow	€(2.6) million5	€90 million	€100 million

The fulfillment of these ambitious long-term targets were achieved despite a period characterised by considerable and persistent global headwinds, including the Omicron variant, sustained high inflation, the war in Europe, and geopolitical instability. Throughout this challenging environment, eDreams ODIGEO consistently maintained its financial guidance while most travel companies revised their guidance downwards. This performance clearly demonstrates the inherent adaptability and flexibility of the Company's subscription model, significantly more prepared to weather changing market conditions.

Even with its established leadership position, significant growth potential remains. Prime's overall household penetration in Europe stands at just 3.7%. However, in markets where Prime has operated the longest, it has achieved much higher penetration rates, demonstrating the significant potential for growth within its existing footprint as the model matures. Furthermore, Prime operates today in only 10 markets (versus 44 for its transactional services), offering considerable geographic expansion opportunities. Continuous proposition enhancement, including innovations such as Prime Plus, provide another powerful lever for its continued growth trajectory. Reflecting this confidence, the Company has set new targets for the upcoming year that project continued growth: an additional one million Prime members; Cash EBITDA between €215-220 million and Free Cash Flow of €120 million.

FY25 RESULTS SUMMARY

• Prime delivers significant uplift in profits and margins as membership base matures
  • Strong profitability growth, with Cash EBITDA rising 49% year-on-year to €180.4 million, from €120 million last year.
  • Revenues² grew 6% to €717.9 million, from 676.1 million last year, surpassing the €700-million mark for the first time. Prime now drives 71% of revenues.
  • Marginal Profits⁶ increased by 30% to €281.6 million, from €217.3 million last year.
  • Net income grew 124% to €51.2 million on an adjusted basis, from €22.9 million last year.
• Prime membership continues to grow strongly as does member advocacy
  • Prime membership topped 7.26 million growing 25% year-on-year.
  • Net adds⁷ reached 1.4 million.
  • European household penetration grows to 3.7%, showing significant potential and the path for further growth.
  • Expanded Prime benefits drive higher satisfaction and member advocacy, with KPMG-verified Net Promoter Score (NPS) reaching up to an excellent 57⁸ points (on a -100 to +100 scale).
  • eDO's leadership in mobile travel became even clearer with mobile bookings breaking previous records, growing to 64% of total flight bookings, up from 60% last year.
• Increased financial flexibility to fuel further growth
  • The Company beat its own guidance for cash generation achieving €100 million, up 123% from €45 million last year, 11% above target
• Driving shareholder value through a unique model
  • eDO's robust and cash-generating business model enables consistent value creation for shareholders. In FY25, the Company invested €79.9 million in repurchasing its ordinary shares to support share liquidity, service its Long-Term Incentive Plans (LTIPs), and optimise its capital structure overall.
  • The Board of Directors recently approved a further share repurchase plan with a maximum allocation of €20 million.
• Guidance for continued growth
  • By March 2026, the Company anticipates to: 1 million additional Prime members; a Cash EBITDA of between €215-220 million; and Free Cash Flow in excess of €120 million.

Dana Dunne, CEO of eDreams ODIGEO commentedThis extraordinary year culminates a 3.5-year journey where eDO turned ambitious 2025 vision into a powerful reality. We have delivered on every commitment, achieving this despite persistent global headwinds that saw most industry peers revise their outlooks downwards. eDO, however, not only stood strong but thrived, a direct result of our differentiated business model. Its inherent strength and adaptability are what set us apart from conventional transactional businesses, especially in changing market conditions. Our record results across profitability, revenue, and margins demonstrate undoubtedly that we've engineered a stronger, more profitable, and uniquely flexible model.

This success is fundamentally built on industry-leading technology, notably our proprietary AI platform-a distinct competitive advantage forged over more than a decade-and the extraordinary talent of our eDOers. It is my greatest honour to lead this exceptional team and I am immensely proud that eDO is consistently recognised as a top employer by prestigious names like Forbes and LinkedIn, validating the remarkable talent and culture we've created.

As powerful as our subscription model has demonstrated itself to be, we are just scratching the surface of its potential. Significant headroom remains in our current markets, complemented by substantial opportunities in new geographies and customer segments. We have the dedicated team, the industry-leading technology, and the strategic clarity to systematically unlock this growth potential. Our focus remains absolute: to continuously elevate the experience for our millions of Prime members and deliver exceptional, lasting value to our shareholders. We are primed for our next phase of growth."

FINANCIAL INFORMATION SUMMARY

(in million)	FY25	Var. FY24-FY25	FY24	Q4 FY25	Var. FY24 FY25	Q4 FY24
Cash Revenue Margin	717.9	6%	676.1	184.1	9%	168.9
Cash Marginal Profit	281.6	30%	217.3	80.2	37%	58.4
Cash EBITDA	180.4	49%	121.4	56.8	73%	32.8
Adjusted EBITDA	133.7	52%	87.8	53.9	67%	32.3
Net income	45.1	39%	32.4	41.0	13%	36.3
Adjusted Net Income	51.2	124%	22.9	36.7	60%	23.0
(in thousands)
Prime members	7,263	25%	5,826	7,263	25%	5,826

¹ Cash EBITDA

² Cash Revenue Margin

³ Cash Marginal Profit

⁴ (Free) Cash Flow ex Non-Prime Working Capital

⁵ As of FY22

⁶ Cash Marginal Profit: "Marginal Profit" plus the variation of the Prime deferred revenue corresponding to the Prime fees that have been collected and that are pending to be accrued.

⁷ Net adds: Gross adds Churn.

⁸ Procedures and analysis performed by eDreams ODIGEO. Verified and validated by KPMG. NPS is an industry-standard metric measuring customer advocacy and satisfaction, with scores ranging from -100 to +100. Flight customers show a score of 50, while accommodation customers score reach 57. Scores in this range are considered excellent, reflecting a highly satisfied customer base that is likely to recommend the service.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250529837862/en/

Contacts:

E: [e-mail]
T: +(44)07876745530 +(44)2074572383