lastminute.com (LMN) Q4 2024 TU earnings summary

Executive summary

• Q4 2024 delivered robust financial performance, with revenue up 4% year-over-year to €62.5 million, driven by Dynamic Holiday Packages (DP) which grew 34% in revenue and 44% in gross profit compared to Q4 2023.

• Adjusted EBITDA for Q4 more than doubled to €5.4 million (+135% YoY), and net result broke even versus a €3.2 million loss in Q4 2023.

• Full-year 2024 revenue was €313.7 million (down 2% YoY), but adjusted EBITDA rose 4% to €41.2 million and net result more than doubled to €15.7 million, the second highest in company history.

• Growth returned in the second half after a soft H1, with DP contributing 57% of group revenue and 62% of gross profit in Q4.

• Integration of Ryanair flights expanded offerings and enhanced customer benefits in Q4.

Financial highlights

• Q4 gross profit was €26.1 million (+6% YoY); full-year gross profit reached €130.9 million (+4%).

• Q4 EBIT improved to €0.9 million from –€4.3 million; full-year EBIT rose 84% to €25.2 million.

• Q4 adjusted EBITDA margin was 9% (up 5pp YoY); full-year margin was 13% (up 1pp YoY).

• Earnings per share for FY 2024: €1.47 (up from €0.65 in FY 2023).

• DP take rate reached 13.8% in Q4 (+1.6pp YoY); full-year DP take rate was 12.3% (+1.4pp YoY).

Outlook and guidance

• Full-year results met guidance after a slow H1 and strong H2 recovery, with improved profitability and operational efficiency, especially in DP.

• Management expects continued DP growth and further revenue expansion in 2025.

• Detailed 2025 outlook and guidance to be provided with audited 2024 results on March 27, 2025.

• Focus remains on sustainable growth, leveraging technology, brand, and regulatory position.