Announces share buyback program to fund long-term employee incentive plans

MADRID, 28 Feb. (EUROPA PRESS) –

The online travel agency eDreams Odigeo recorded net losses of 4 million euros during the first nine months of fiscal year 2024, ended on December 31, compared to the “red numbers” of 34.1 million euros in the previous year. same period a year before.

In adjusted terms, the company lost 0.2 million euros between April and December, in contrast to the losses of 25.8 million euros in the same period of the previous year, as reported by the company to the National Market Commission this Wednesday. of Securities (CNMV).

Due to the successful expansion of the Prime member base, eDreams’ revenue grew by 13% in the first nine months of the fiscal year, to €474.2 million, while cash revenue increased by 10%. , up to 507.3 million euros, a record figure for the company in this period.

For its part, eDreams’ ‘Cash’ gross operating result (Ebitda) reached 88.6 million euros, 54% more than the 57.4 million euros recorded in the same period of 2023, while the Adjusted EBITDA multiplied by three, reaching a total of 55.5 million euros.

The travel agency’s Prime subscription service increased 38% year-on-year, exceeding 5.41 million subscribers at the end of the period between April and December. Quarterly growth in Prime members is in line with the rate needed to reach the stated goal of 7.25 million by the end of fiscal 2025.

“In general, this nine-month period has maintained the improvement trends that already occurred in previous quarters, as well as a significant increase in profitability, since we have more and more Prime members who renew their subscription,” he highlighted. the company in a statement.

Taking into account the ongoing strategic execution, the company is confident that it will reach between 5.75 and 5.9 million Prime members and an Ebitda ‘Cash’ of between 120 and 122 million euros at the end of the current financial year, which will conclude on March 31, 2024.

Looking ahead, the company is on track to achieve its stated goals of over 7.25 million Prime members, €180 million Ebitda ‘Cash’ and an average revenue per user of €80 by March 2025.

Finally, the Board of Directors has approved a plan to buy back 5.5 million shares for a maximum amount of 50 million euros to finance long-term incentive plans for employees until fiscal year 2027.