lastminute.com (LMN) Q1 2025 TU earnings summary

Executive summary

• Q1 2025 delivered strong financial performance, with revenues up 14% to €89.2 million and robust profit growth, driven by dynamic packaging, brand portfolio streamlining, and expansion in Tier 2 European markets.

• Strategic pillars include market expansion, brand consolidation, dynamic packaging evolution, and enhancing customer experience through curated packages and ancillary services.

• The company is transitioning from a transactional flight seller to an integrated holiday provider, aiming for a holistic, trusted customer relationship.

• Targeted marketing investments and operational efficiency reinforced brand positioning and margin discipline.

Financial highlights

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

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

• Adjusted EBITDA grew 56% to €14.4 million; EBIT up 75% to €9.4 million; Net result surged 149% to €6.5 million.

• EPS improved to €0.61, up 154% year-over-year, supported by higher net results and share buybacks.

• Net financial position stable at €78.8 million, with positive free cash flow of €7.2 million generated over the last 12 months.

Outlook and guidance

• Guidance for 2025 is reaffirmed: both revenues and adjusted EBITDA expected to achieve low double-digit growth, with EBITDA growth likely outpacing revenue due to operational leverage.

• Management remains confident in meeting full-year targets, with midterm financial guidance to be issued before year-end.

• Q1 performance benefited from a relatively weak prior-year comparison.