lastminute.com (LMN) Q1 2025 TU earnings summary

Executive summary

• Q1 2025 delivered strong results with revenue up 14% to €89.2 million and adjusted EBITDA up 56%, driven by robust Packages and Flights segments, dynamic packaging, and improved pricing strategies.

• Strategic focus included expanding market presence in 14 Tier 2 European markets, streamlining brand identity, and evolving dynamic packaging offerings.

• Dynamic packages were the main growth driver, with curated packages and additional components (transfers, baggage) to be tested in H2 2025.

• Flights rebounded, aided by improved pricing, expanded ancillary offerings, and the reintroduction of Ryanair content.

• Guidance for 2025 is reaffirmed, targeting low double-digit growth in both revenue and adjusted EBITDA.

Financial highlights

• Revenues rose 14% year-over-year to €89.2 million; Packages up 17%, Flights up 8%, Hotels up 11%.

• Gross profit increased 14% to €38.7 million, with a stable gross margin of 43.3%.

• Adjusted EBITDA grew 56% to €14.4 million; EBIT up 75% to €9.4 million.

• Net result improved to €6.5 million (vs. €2.6 million in Q1 2024), with EPS up 154% to €0.61, reflecting share buybacks.

• Net financial position remained stable year-over-year, with improved cash generation of €7.7 million.

Outlook and guidance

• 2025 guidance confirmed: low double-digit growth in revenue and adjusted EBITDA, with EBITDA growth expected to slightly outpace revenue due to operational leverage.

• No revision to guidance despite strong Q1, citing market uncertainties and a relatively weak Q1 2024 comparison.

• Midterm guidance to be issued before year-end, reflecting strategic pillars.

• Performance to date supports full-year expectations, with continued focus on margin discipline and operational efficiency.