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A brief look at eDreams ODIGEO and KPIs ........................................................................................................................................................................................................................................

eDreams ODIGEO

1.1. A brief look at 1H FY 2022 eDreams ODIGEO KPIs

2nd

Largest Player

Worldwide

in Flight Revenues

37%

55%

1,729K

39%

45

No 1 European OTA

Prime share of

Mobile

Prime Members

Markets

flight market share

Bookings

(**)

+160% YoY

flight Bookings

(From 32%)

(From 664K)

(From 26%)

(From 47%)

17M

Customers (*)

67%

89%

650

2.1M+

274k+

1.7 Billion

Airlines

Hotels

Flight routes

Monthly searches

(*)

(32)pp (***)

Acquisition cost

per booking index

Diversification

Revenue (**)

+11pp

(From 56% of total)

Product

Diversification (**)

Ratio

2ppt (From 87%)

€19.4M €0.7M

Cash EBITDA (****)

Adjusted

EBITDA (****)

(From €(11.0)M)

(From €(16.8)M)

5.7M

Bookings

(From 1.5M)

€187M

Cash Revenue Margin

(****)

(From €56.8M)

€(27.7)M

Adj Net Income (****)

(From €(42.8)M)

Information presented based on 1H FY22 vs 1H FY21 year-on-year variations.

(*) Pre COVID-19.(**) Ratio is calculated on a last 12 month basis (***) Percentage point reduction since FY15.

(****) See definition and reconciliation of Cash EBITDA, Adjusted EBITDA and Adjusted Net Income in section 6. Glossary of definitions and section 7. Reconciliation.

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A brief look at eDreams ODIGEO and KPIs ........................................................................................................................................................................................................................................

eDreams ODIGEO

  • 1.2. Results Highlights

Strong Bookings growth, ahead of Pre-COVID levels

  • In 2Q FY22, Bookings 22% above pre-COVID-19 levels (in 1H FY22, Bookings only 1% below pre-COVID 19).
  • Trading continues to improve growth rates for Bookings vs pre-COVID-19 levels accelerating (September +33% vs 2019; October +42% vs 2019 and November +53% vs 2019).

Encouraging signs of eDO rapid recovery

  • Revenue Margin in 2Q FY22 increased 190% year-on-year.COVID-19 induced restrictions still resulted in Cash Revenue Margin (*) being 18% below pre-COVID-19 levels (including Prime contribution) due to disproportionate demand in shorter distance flights.
  • Cash Marginal Profit (*), stood at €30.7 million positive for 2Q FY22 (€49.2 million in 1H FY22).
  • Cash EBITDA (*) €16.2 million positive in 2Q FY22; 5.3x the amount in 1Q FY22 (€3.1 million in 1Q FY22 totalling €19.4 million in 1H FY22).
  • Strong liquidity position maintained: €144 million at end September. The liquidity of eDO was never at risk.

Prime continues to reinvent travel and deliver superior returns while transforming the industry

  • Leader and inventor of the first and highly successful subscription-based model in travel: Prime.
  • In 2Q FY22 Prime members grew by 159% over the year to 1.7 million subscribers.
  • Almost 2M members (as of 10th of November), achieved much earlier than accelerated target of summer 2022. Added 1M members in six months.
  • We will continue to grow Prime through product innovation and geographic expansion.
  • Prime has more loyal and de-risked consumer base and more predictable and sustainable business model.
  • Our targets for fiscal year 2025: Prime members (3.7x from current to at least 7.25 million); Cash Revenue Margin (at least €825 million - 18% CAGR 2Q FY22 annualized-FY25); Cash EBITDA (at least €180 million - CAGR 34%); Capex from €24 million (2Q FY22 annualised) to around €50 million; and Leverage Ratio (Net Debt/Cash EBITDA): 1.0 to 2.0x by FY25

eDO will be a clear winner post COVID world

  • Unique relationship-based model with customers.
  • We have an unrivalled scale advantage. eDO is the global leader in flights, excluding China.
  • Our market share in Europe grew by 5pp to 37%.
  • We have a balanced business with Diversification Revenue of 67%, up +11pp year on year, and mobile bookings in excess of 55%
  1. See definition and reconciliation of Cash Revenue Margin and Cash EBITDA in section 6. Glossary of definitions and section 7. Reconciliation.
  • 1.3. Current Trading, Strategy Update and Outlook

Rapid recovery from Covid with best-in-class performance, 6 months ahead pre- COVID-19 levels, even in a not fully recovered market

The continued outperformance of our trading over the last quarters is the result of the hard work improving our platform and building on our strengths including Prime over the last 18 months. We are reinventing travel and are at the forefront of the innovation that is enhancing the way travel is consumed, improving the customer journey and making the proposition even more compelling.

Our current trading demonstrates the rapid recovery from COVID-19 with best-in-class performance, which was driven by consumers desire to travel, our Prime program, and eDO strong performance.

The Company's Bookings levels over the past quarter have shown continuous improvement. In September, Bookings improved further, and we are now 6 consecutive months ahead pre-COVID levels, and with September to November Bookings growing 30-50%year-on-year vs pre-COVID-19 levels.

TRADING CONTINUES TO IMPROVE

eDO Bookings growth vs 2019

Source: Company data until the 10th of November.

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eDreams Odigeo SA published this content on 17 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 November 2021 07:26:04 UTC.