eDreams reduces its losses to 65.4 million in its fiscal year 2022 and triggers income

MADRID, 26 May. (EUROPA PRESS) -

The online travel agency eDreams Odigeo registered net losses of 65.4 million euros during its last fiscal year, ended on March 31, compared to the negative result of 124.2 million euros in the same period of the previous year.

In adjusted terms, the company lost 52.3 million euros in its fiscal year 2022, in contrast to the losses of 86.8 million in the same period of the previous year, as reported by the company to the National Market Commission on Thursday. Securities (CNMV).

The revenue figure for eDreams multiplied by more than three (244%), to 382.6 million euros, achieving "the highest sales volume in its history", with 12.5 million reservations, 286% per above fiscal year 2021 and 10% higher than pre-pandemic reserves.

Although the conflict in Ukraine and the rise in inflation worldwide "may have caused some uncertainty in the short term", eDreams highlights that there has been "a strong rebound in travel", with its reservations in the months of March, April and May 2022 being "widely" above pre-Covid levels, with increases of 34%, 52% and 58%, respectively.

eDreams' 'Cash' marginal profit reached 107.4 million euros in its fiscal year 2022, triple that of the previous year, and the gross operating result (Ebitda) Cash became positive and stood at 44 .2 million euros, compared to -27.4 million euros in fiscal year 2021.

eDreams Prime subscription service reached 2.9 million members in fiscal year 2022 after tripling the number of subscribers.

"Throughout fiscal year 2022 we have continued to make strong progress and reinvent the travel experience for our customers, thanks to the success of our subscription model, Prime, and our leading position in flight bookings (...) We continue to see a immense potential to our business and to Prime. For example, in Europe alone, there are over 225 million households that we can target to become Prime members," said Dana Dunne, CEO of eDreams.

Dunne has also advanced that fiscal year 2023 has started "very well" for the company, with the opening of various markets as the pandemic eases.

"Our sales remain at record levels at the start of the fiscal year, significantly above 2019, and Prime continues to grow strongly, so we are confident in the success that lies ahead and are poised to meet our 2025 goals." , which will be a very important milestone that will provide substantial value to our shareholders", he underlined.