eDreams ODIGEO reported a loss of 43.3 million in its last fiscal year, ended March 31, which is 34.2% lower than the negative effect of 65.9 million in the same period of the previous year. In the combined situation, the tourism company lost 33.6% less in the fiscal year, up to 34.7 million of cash in addition to losses of 52.3 million of the previous year.
“The company believes that adjusted net profit better reflects the actual performance of the business,” the company said.
eDreams ODIGEO’s revenue in this fiscal year grew 49%, to 569.6 million euros, due to a record 29% increase in bookings, to 16.2 million, 42% more than pre-pandemic levels.
At the same time, revenue increased by 47%, this fiscal year, to 621 million euros, surpassing the barrier of 600 million euros for the first time in the history of the company.
“Continuous and rapid growth in sales, together with a significant improvement in the margin, has led to an increase in profit. The eDreams ODIGEO activity reached a record of 16.2 million reservations, an increase of 29% in the previous maximum of 2022 and 42% above the levels before COVID-19, a result well above those who have been registered in the travel region in general”, to stand out from the company.
Revenue in FY2023 mainly reflects strong growth in Prime members, better volumes in March 2023 compared to the same month in 2022, as well as an increase in the average book size mainly due to the rate increases from 2023 to 2022.
The first subscription service launched by Travel has reached 4.3 million members, which represents a year-on-year growth of 64%, adding 1.7 million new subscribers last year, according to the company.
In the fiscal year 2023, the company achieved a record of reserves, reaching 16.2 million, which is 29% above the fiscal year 2022 and 42% above the pandemic levels, “despite the fact that the industry is changing into more normalized patterns of time, hence a. conflict in Ukraine arising global growth and industrial disruptions”.