May 17, 2021

eDreams loses 16.9 million euros in the first half of its fiscal year, but increases revenues

eDreams loses 16.9 million euros in the first half of its fiscal year, but increases revenues


BarcelonaUpdated:

The online travel agency eDreams Odigeo has closed the first half of its fiscal year with losses of 16.9 million euros, although revenues rise to 267.6 millions, 5% more than in the same period of the previous year, as reported by the company in a statement.

The company, the largest online travel agency in Europe, has said in a statement that these results meet its forecasts and make it anticipate that expectations will be confirmed, «since the business strategy continues to generate progress and the diversification of income drives results. "

According to the income statement, the net profit was set at September 30 in -16.9 million euros, compared to 6.5 million euros with which the first half ended from the previous exercise. On the other hand, adjusted net income was 12.4 million, -28%; and EBITDA (gross profit) was 51.5 million, 20% more than in the same period of the previous year.

«More growth opportunities»

The CEO of eDreams Odigeo, Dana Dunne, has indicated that there has been «A slowdown in financial performance due to the changes made in the revenue model ", although the good behavior of the dynamic packages business has been highlighted.

Dunne has shown his confidence "that more opportunities for growth will emerge as we continue to add new products and services to our offer ». In this line, he recalled that last September the company carried out a "successful" refinancing operation.

In this line, he stressed that his investment strategy in the model of diversification of revenues and improvement of transparency of prices for its customers "continues to bear fruit". This strategy involves increasing revenues not from the sale of airline tickets, which offer a greater margin.

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