Voyageurs Du Monde Sa · EURONEXT:ALVDM
Voyageurs Du Monde Sa — FY2025 Earnings Presentation
21 slides from Voyageurs Du Monde Sa's earnings presentation, Apr 15, 2026
Slide 1: 2025 Full-Year Results Presentation
2025 FULL-YEAR RESULTS PRESENTATION 1 5 A PR I L 2 0 2 6
Slide 2: The Tailor-Made Travel, Adventure Travel and Cycling Holiday Specialist
THE TAILOR-MADE TRAVEL, ADVENTURE TRAVEL AND CYCLING HOLIDAY SPECIALIST Main brands - Tailor-made Voyageurs du Monde (France, Belgium, Switzerland and Canada), Comptoir des Voyages, Bynativ, Original Travel (UK), Extraordinary Journeys (US) - Adventure Terres d’Aventure, Nomade Aventure, Allibert Tr
Slide 3: 2025 Highlights
2025 HIGHLIGHTS ✓ Growth of 6.8% in 2025 departures (up 6.6% like-for-like): • Tailor-made travel up 6.4% • Adventure travel up 8.8% • Cycling holidays up 4.4% (3.4% like-for-like) ✓ Context: • Uncertain international climate (war in Ukraine, conflict in the Middle East, US elections) • Unfavourable
Slide 4: Full-Year Results Performance
2024 FULL-YEAR 2025 RESULTS PERFORMANCE PRESENTATION
Slide 5: Sales by Activity
SALES BY ACTIVITY 2025 sales 2024 sales Change % of sales Activity Main brands (€m) (€m) 25 vs. 24 2025 Voyageurs du Monde, Comptoir des Tailor-made travel Voyages, Voyageurs du Monde 434.5 408.5 +6.4% +55% Canada, Original Travel, Bynativ, EJ Allibert Trekking, Terres d’Aventure, Nomade Aventure, C
Slide 6: Half-Year Sales Breakdown
HALF-YEAR SALES BREAKDOWN 2025 2024 Change 25 vs. 24 Sales (€m) % of sales Sales (€m) % of sales 1st half departures 317.3 40% 289.0 39% 9.8% 2nd half departures 467.7 60% 446.3 61% 4.8% TOTAL 785.0 100% 735.3 100% 6.8% 2025 FULL-YEAR RESULTS 6
Slide 7: Sales Breakdown France / International
SALES BREAKDOWN FRANCE / INTERNATIONAL (€M AND BY CUSTOMER ORIGIN) 800 700 37% 600 35% 35% 500 21% 20% 32% 400 20% 11% 13% 11% 300 65% 63% 65% 200 79% 80% 89% 89% 87% 80% 68% 100 0 2014 2015 2016 2017 2018 2019 2022 2023 2024 2025 France International 2025 FULL-YEAR RESULTS 7
Slide 8: Sales Breakdown Main Destinations
SALES BREAKDOWN MAIN DESTINATIONS 2025 2024 France 6.3% France 6.3% Germany 6.0% Germany 6.1% Italy 5.8% Italy 5.6% Japan 5.3% Japan 5.1% Egypt 4.6% United States 4.4% United States 3.9% Egypt 4.4% Tanzania 3.2% Tanzania 3.8% Portugal 2.8% Portugal 2.8% Spain 2.4% Spain 2.3% Australia 2.3% Austria 2
Slide 9: 2025 Financial and Non-Financial Information
2024 FULL-YEAR 2025 FINANCIAL RESULTS AND NON-FINANCIAL PRESENTATION INFORMATION
Slide 10: Yearly Income Statement
YEARLY INCOME STATEMENT 2025 2024 Change €m reported reported 25 vs. 24 Sales 785.0 735.3 6.8% Gross profit 255.7 236.6 8.1% % of sales 32.6% 32.2% Operating expenses and other income (183.0) (168.3) 8.7% EBITDA 72.7 68.3 6.3% % of sales 9.3% 9.3% EBIT 64.6 61.3 5.4% % of sales 8.2% 8.3% Net financi
Slide 11: Breakdown of Operating Expenses
BREAKDOWN OF OPERATING EXPENSES 2025 2024 Change €m reported reported 25 vs. 24 Staff costs 132.5 123.2 7.6% % of sales 16.9% 16.8% Number of employees 2,011 1,886 6.6% Rents 12.0 11.4 5.3% Communications/marketing costs 17.5 14.6 20% % of sales 2.2% 2.0% Other operating expenses 26.8 23.6 14% Total
Slide 12: Yearly Balance Sheet
YEARLY BALANCE SHEET EQUITY & LIABILITIES ASSETS in €m 2025 2024 2025 2024 in €m Equity 245.6 137.3 Fixed assets 149.5 141.9 o/w minority interests 14.2 14.3 Inventories 2.2 1.9 Provisions 1.8 0.6 Advances and trade Financial liabilities 5.5 90.5 177.2 164.2 receivables Advances, trade Other receiva
Slide 13: Cash Flow Statement
CASH FLOW STATEMENT €m 2025 Cash flow from operating activities 64.1 o/w net cash flow 60.9 o/w change in WCR (a) relating to operating activities 3.2 Cash flow from investing activities -18.8 Cash flow from financing activities -24.2 Foreign exchange impact -1.8 Opening net cash position 203.8 Clos
Slide 14: Sharing the Value Created
SHARING THE VALUE CREATED 2025 FULL-YEAR RESULTS 14
Slide 15: Outlook
2024 FULL-YEAR OUTLOOKRESULTS PRESENTATION
Slide 16: Group Outlook
GROUP OUTLOOK ✓ Tailor-made travel: • Ongoing rollout of Voyageurs du Monde’s services via a global website and setting up agencies in Germany (Munich, Düsseldorf, Hamburg), Italy (Milan) and other countries in the future (Northern Europe, North America, etc.) • In Egypt, renovation of two steamers
Slide 17: International Context and Consequences of the War in Iran
INTERNATIONAL CONTEXT AND CONSEQUENCES OF THE WAR IN IRAN ✓ Impact on margins: • Repatriation costs • Changes to flights transiting through hubs in Gulf states ✓ Impact on sales: • Trips to destinations in the region (Jordan, Oman, United Arab Emirates) • Trips to neighbouring countries (Egypt, Türk
Slide 18: 2026 Trends
2026 TRENDS Sales trends: ✓ As at 28 February 2026, the Group’s 2026 departures were up 4.2%, accounting for 62% of 2025 sales. ✓ In March, sales for 2026 departures fell by an average of 11%: • tailor-made travel - 18% • adventure travel - 9.3% • cycling holidays up 7.7% ✓ As at 31 March, the Group
Slide 19: Shareholding Structure as at 31 December 2025
SHAREHOLDING STRUCTURE AS AT 31 DECEMBER 2025 Shares: 4,468,928 Voting rights: 7,330,806 62.52% Avantage 76.22% Avantage 35.97% Free float 15.03% Free float 1.51% Other * 1.17% Other * 2025 FULL-YEAR RESULTS 19
Slide 20: Share Price Performance
SHARE PRICE PERFORMANCE 200 € 190 € 180 € 170 € 160 € 150 € 140 € 130 € 120 € 110 € janv.-26 mars-26 avr.-25 oct.-25 déc.-25 mai-25 juin-25 nov.-25 juil.-25 sept.-25 avr.-26 août-25 févr.-26 Share price as at 1 April 2025: €140.0 Share price as at 2 April 2026: €136.0 2025 FULL-YEAR RESULTS 20
Slide 21: Q&A
Q&A 2024 FULL-YEAR RESULTS PRESENTATION