eDreams ODIGEO (EDR) CMD 2025 Presentation summary

Vision and strategy

• Aims to be the leading travel subscription company, leveraging AI-driven proprietary platforms for unique customer value and superior shareholder returns.

• Transitioned from a transactional to a subscription-led business model, now among the largest European subscription companies.

• Focuses on high customer satisfaction, robust product offering, and continuous AI-driven innovation.

• Maintains a strong employer brand to attract top talent for ongoing growth.

Business performance and achievements

• Prime membership grew from 2.0M in Nov 2021 to 7.25M in FY25, with Cash EBITDA rising from €2.9M to €180M.

• Achieved one of the highest Cash EBITDA CAGRs in the industry at 46% (2022-2024e), outperforming hotels, OTAs, and airlines.

• Maintained ambitious guidance while many peers revised targets or issued profit warnings.

• Delivered strong performance despite macroeconomic headwinds like COVID-19, inflation, and geopolitical conflicts.

Subscription model and customer engagement

• Subscription now drives about 70% of Cash Revenue and over 80% of Cash Marginal Profit.

• Prime members show higher engagement, repeat transactions, and lower churn over time.

• NPS for Prime customers increased by 17 points since 2021, with 9 out of 10 repeat customers rating 7 or above.

• Over 60% of Prime members are GenZ or Millennials, with strong growth in younger cohorts.

• Significant portion of new subscribers join via recommendations from existing members.