Edreams Odigeo SA
MAD:EDR
Edreams Odigeo SA
eDreams ODIGEO SA engages in the provision of online travel services. The company is headquartered in Madrid, Madrid and currently employs 1,182 full-time employees. The company went IPO on 2014-04-08. With five brands: eDreams, Go Voyages, Opodo,Travellink and Liligo, the Company offers deals on regular flights, charters, airlines, hotels, car rentals, cruises, holiday packages and travel insurance to its clients. The firm operates through digital platforms, which consist of online portals and mobile applications. The firm also provides advertisers with a platform to reach their target markets in a personalized way, both locally and globally. The firm is focused on adapting its range of services to the needs of each individual customer. The firm has an international presence as it serves customers across 44 countries.
eDreams ODIGEO SA engages in the provision of online travel services. The company is headquartered in Madrid, Madrid and currently employs 1,182 full-time employees. The company went IPO on 2014-04-08. With five brands: eDreams, Go Voyages, Opodo,Travellink and Liligo, the Company offers deals on regular flights, charters, airlines, hotels, car rentals, cruises, holiday packages and travel insurance to its clients. The firm operates through digital platforms, which consist of online portals and mobile applications. The firm also provides advertisers with a platform to reach their target markets in a personalized way, both locally and globally. The firm is focused on adapting its range of services to the needs of each individual customer. The firm has an international presence as it serves customers across 44 countries.
Prime Growth: Prime members rose 18% to 7.7 million, driven by strong new sign-ups and expansion into new markets and products.
Profitability: Cash EBITDA reached EUR 94 million in H1 FY '26, up 16% year-on-year, with margin improvement helped by Prime member maturity.
Strategic Shift: eDO announced a new 4-year plan focused on accelerating growth, product expansion (notably into rail and hotels), geographic diversification, and switching to monthly/quarterly Prime payments.
Ryanair Headwind: Recent intensified OTA blocking by Ryanair reduced daily bookings by over 80%, impacting new customer acquisition but not Prime churn.
Guidance Update: Cash EBITDA is expected to dip to EUR 155 million in FY '26 and EUR 115 million in FY '27 due to investments and the payment model shift, but is forecast to grow 33%+ annually from FY '27, reaching over EUR 270 million in FY '30.
Shareholder Returns: eDO remains committed to buybacks, targeting EUR 100 million over the next 2 years, despite near-term pressure on earnings.
Monthly Model Impact: The switch to monthly/quarterly Prime payments boosts customer lifetime value by 13% and NPS by 10%, but temporarily reduces ARPU and deferred revenue.
