lastminute.com (LMN) H2 2024 earnings summary

Executive summary

• 2024 saw a rebound in the second half, with net result more than doubling to €15.7 million, driven by strong demand and growth in Dynamic Holiday Packages, which expanded to 33 markets.

• Dynamic Packages (DP) GTV grew 11% and DP gross profit rose 32% year-over-year, with DP revenues up 25%.

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

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

• 2025 began with continued momentum, driven by early bookings and positive trends in DP and flight-only segments.

Financial highlights

• Revenues for 2024 totaled €313.7 million, down 2% year-over-year, but improved quarter-on-quarter in H2.

• Gross profit increased 4% to €130.9 million; adjusted EBITDA rose 4% to €41.2 million.

• EBIT grew 84% to €25.2 million; net result more than doubled to €15.7 million.

• EPS increased from €0.65 in 2023 to €1.47 in 2024.

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

Outlook and guidance

• Management expects low double-digit growth in both revenues and adjusted EBITDA for 2025, with adjusted EBITDA expected to grow faster due to operational leverage.

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

• 2025 outlook assumes stable macroeconomic conditions in key European markets.