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

Business Wire

29-05-2025

BARCELONA, Spain--(BUSINESS WIRE)-- 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.
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
Dana Dunne, CEO of eDreams ODIGEO commented: ' This 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
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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.
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