lastminute.com (LMN) Q3 2024 earnings summary

Executive summary

• Q3 2024 performance strengthened year-to-date results after a softer H1, with revenues and gross profit both up 6.4% year-over-year, driven by Dynamic Packages (DP).

• Net result more than doubled in Q3 to €5.7m, and for the nine months reached €15.7m, up 55% year-over-year.

• Strategic focus on DP and a new Ryanair agreement expected to further improve performance in H2 2024.

• New share buyback program and Stock Appreciation Rights plan announced to enhance shareholder value.

Financial highlights

• Q3 2024 revenues: €86.7m (+6.4% vs. Q3 2023); 9M 2024 revenues: €251.3m (-3.9% vs. 9M 2023).

• Q3 2024 gross profit: €34.6m (+6.4% vs. Q3 2023); 9M 2024 gross profit: €104.8m (+3.1% vs. 9M 2023).

• Adjusted EBITDA Q3 2024: €12.8m (+2.2% vs. Q3 2023); 9M 2024: €35.7m (-4.5% vs. 9M 2023).

• EBIT rose 49% to €8.8m in Q3 2024.

• EPS for Q3 was €0.54 (>100% increase), and for 9M 2024 was €1.47 (+55%).

Outlook and guidance

• On track to meet FY24 targets, with stable revenues and single-digit adjusted EBITDA growth expected versus 2023.

• Improved performance anticipated in H2 2024, reversing earlier trends.

• Confident in achieving annual targets, supported by robust cash generation.