˜Prime’, the world’s first travel subscription platform, adds 1.45 million new members in just 12 months
On track to meet self-imposed FY25 targets: 7.25 million subscribers and profitability over €180 million
BARCELONA, Spain–(BUSINESS WIRE)–eDreams ODIGEO (hereinafter ˜eDO’, ˜the Company’ or ˜the Group’), the world’s leading travel subscription company and one of Europe’s largest e-commerce firms, today released its results for the first half of its fiscal year 2025, ended 30 September 2024.
The Company continued to deliver significant growth as the world’s first and largest travel subscription company. The Company’s key metrics as a subscription platform, namely number of subscribers and profitability, all achieved solid growth in the first half, with Prime members and Cash EBITDA both growing by a significant 28%, to 6.5 million subscribers and €81.1 million, respectively. As a subscription-led business, profitability is notably driven by the growing base of long-term Prime members. Members in their second year and beyond contribute higher value, as they increasingly turn to Prime as their go-to solution for all travel needs.
eDO is well on track to meet its self-imposed 3.5-year targets by March 2025. By the end of the current fiscal year, the Company expects to achieve 7.25 million Prime subscribers and Cash EBITDA of or above €180 million.
H1 RESULTS HIGHLIGHTS
- Prime model continued to deliver gains in profitability and margin growth
- Prime membership continued to grow strongly, 28% year-on-year, reaching 6.5 million. Net adds1 in the second quarter were in line with expectations at 303,000.
- The Company’s key indicator of profitability, Cash EBITDA, grew 28% year-on-year to €81.1 million. As intended, profitability growth was especially strong on the Prime side of the business, achieving growth of 53%, driven by a stable fixed cost base alongside robust top-line expansion.
- Profitability growth derived largely from substantial margin improvements. Marginal profit2 reached €130.8 million, up 20% overall and 45% higher for Prime only, reflecting the strength of the subscription model. Prime now accounts for 87% of marginal profit.
- As guided, the maturity of Prime members is the key driver for profitability. The ever increasing number of Prime members renewing their memberships has resulted in a substantial improvement in profitability.
- Revenues3 for Prime grew 18% due to strong membership growth, more than offsetting the…
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