Spain · Delayed Price · Currency is EUR eDreams ODIGEO Earnings Call Transcripts
Fiscal Year 2026
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Adjusted EBITDA surged 74% year-over-year to €138.4M, driven by strong Prime membership growth and margin expansion. The business is on track for FY 2026 targets, with robust cash flow, ongoing share buybacks, and a resilient travel market supporting future growth.
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Monthly and quarterly Prime payment models are driving higher LTV and customer loyalty, with accelerated growth expected in new products and geographies. Despite Ryanair headwinds, Prime membership and EBITDA are projected to grow significantly, supported by strong AI adoption and a EUR 100 million share buyback.
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Q1 FY2026 saw strong growth driven by the Prime subscription model, with 205,000 new members and 8% year-over-year cash EBITDA growth. Net income turned positive, and liquidity and capital returns improved, while guidance remains robust for Prime growth and profitability.
Fiscal Year 2025
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Achieved FY25 targets with 25% Prime member growth and 49% higher cash EBITDA, driven by the subscription model. FY26 guidance targets over 1 million new Prime members and €215–220 million cash EBITDA, with continued strong free cash flow and share buybacks.
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Prime subscriber growth and margin expansion drove a 40% year-over-year increase in Cash EBITDA and a doubling of free cash flow, with the business on track to meet FY25 targets. The Prime segment now delivers the majority of profit, and share buybacks continue.
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Prime subscriber growth and margin expansion drove a 28% year-over-year increase in Cash EBITDA and a 61% rise in free cash flow (excl. non-Prime working capital). The business is on track to meet FY25 targets, with strong liquidity and a new €50 million share buyback program.
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Prime subscriber growth and profitability accelerated, with cash EBITDA up 23% and margins expanding. FY25 guidance is reaffirmed, despite industry headwinds and intermittent Ryanair access, as the Prime model continues to offset non-Prime declines.