Q3 2026 eDreams ODIGEO SA Earnings Call Transcript
Key Points
- Adjusted EBITDA increased by 74% year-on-year to €138.4 million, indicating strong operational performance.
- Prime membership grew by 13% year-on-year, reaching 7.8 million subscribers, with a target of 7.9 million by FY26.
- Prime-related revenue now accounts for 75% of cash revenue margin, showing a 7% year-on-year growth.
- The company repurchased €23 million in shares this quarter, with a commitment of €100 million through September 2027, indicating strong shareholder returns.
- The strategic review update was conducted from a position of strength, with a focus on accelerated growth and diversification.
- Access to Ryanair content remains volatile, impacting the company's content offerings.
- The transition to annual subscription with monthly installments has caused temporary timing impacts on cash metrics.
- Non-prime revenue margin decreased by 24% year-on-year, reflecting a shift in focus to the prime side of the business.
- Fixed costs increased by €3.3 million due to higher external fees and provisions.
- The average order basket size has decreased, influenced by changes in customer behavior and booking patterns.
Good afternoon everyone, and thank you all for joining us today for the Q3 fiscal year 2026 resource presentation for the nine months ending 31st of December 2025. I'm David de la Roth, the director of operations at eDreams ODIGEO.,
As always you can find the source materials, including the presentation and our resource report in the investor relations section of our website. I will now pass you over to Dana Dunne, our CEO who will take you through the first part of the presentation.
Thank you, David, and good afternoon, everyone. Thank you for joining us today. We're going to discuss three things. The first is I'll do a brief update of our first nine-month results of FY26. And the outlook which we're on track. Second, David Elizaga, our CFO, will take you through the prime model and how it continues to drive very strong growth.
And third, I will then share some closing remarks on why we
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