lastminute.com (LMN) H2 2024 earnings summary

Executive summary

• 2024 saw a rebound in the second half, with profit delivered after a challenging first half and net result more than doubling to €15.7m compared to FY 2023.

• Dynamic Holiday Packages grew 11% year-over-year in GTV and 32% in gross profit, driving strong double-digit growth.

• Strategic focus for 2025 includes strengthening market presence, evolving dynamic packaging, and enhancing the customer journey, leveraging brand portfolio and tech.

• Four pillars: market expansion, brand focus, product evolution, and being a travel companion.

Financial highlights

• Revenue declined 2% year-over-year but improved quarter-on-quarter in H2 2024; gross profit increased 4% to €130.9m.

• Adjusted EBITDA reached €41.2m for FY 2024, up 4% year-over-year.

• Gross margin improved by 3 percentage points to 42% in FY 2024.

• Net result more than doubled to €15.7m due to lower non-recurring items.

• Proposed dividend of €0.41 per share, representing 30% of 2024 net result, subject to AGM approval.

Outlook and guidance

• 2025 guidance: low double-digit growth in both revenue and adjusted EBITDA.

• Adjusted EBITDA expected to grow faster than revenue due to operational leverage.

• Early 2025 trading shows revenue growth, mainly from dynamic packages and positive flight trends.