lastminute.com (LMN) Q3 2025 TU earnings summary

Executive summary

• Achieved strong Q3 and nine-month results with high-teens revenue growth, significant EBITDA expansion, and robust cash generation, driven by disciplined growth, cost control, and organizational efficiency.

• Growth was broad-based across all core categories, with improved unit economics and a strategic focus on scalable, profitable segments.

• Discontinued the underperforming Cruise division to focus on core segments, incurring one-off charges and selling related trademarks and domains.

• Strategic roadmap centers on dynamic packaging, loyalty, technology, and brand, with a three-year outlook targeting continued profitable growth.

• Accelerated growth supported by effective marketing, restructuring, and upgraded guidance outlook.

Financial highlights

• Q3 revenues reached €101.3 million, up 17% year-over-year; nine-month revenues at €284.1 million, up 13%.

• Adjusted EBITDA for Q3 was €17.2 million, up 35% year-over-year; nine-month Adjusted EBITDA at €46.1 million, up 29%.

• Net income for Q3 was €1.9 million (EPS €0.18); underlying net income would have been €8.1 million or €5.6 million excluding one-off Cruise-related charges.

• Free cash flow over the last 12 months improved to €16.4 million from €0.4 million a year ago.

• Gross profit rose 9% to €37.8 million in Q3; gross margin declined to 37.3% in Q3 (from 39.9%).

Outlook and guidance

• Upgraded full-year guidance, now expecting around 20% year-on-year EBITDA growth for 2025.

• Three-year plan targets €450 million in revenues and over €70 million in adjusted EBITDA by 2028.

• Revenue growth expected at low double digits for 2025, with focus on profitable organic growth and selective M&A.