August 30, 2018

EDreams ODIGEO profits drop during Q1

European OTA eDreams ODIGEO suffered a drop in profits during the three months to June 30. Adjusted net income fell by 6% year-on-year to €5.7 million.

However, the company said the result for the first-quarter of its financial year was in line with previous guidance.

“Bookings were up 1%, revenue margin rose by 7% and adjusted EBITDA was down 3%, as guided to the market and reflecting the investments we are making in the shift in the revenue model,” the company said.

The performance driven by “solid bookings and revenue margin growth” in addition to a strong performance in flight ancillaries and dynamic packaging revenues.

Get the full story at Travolution and Skift