Slide 1: Results Presentation 3Q FY25
RESULTS PRESENTATION 3Q FY25 20th February 2025
Slide 2: Disclaimer
Disclaimer This presentation is to be read as an introduction to the unaudited condensed consolidated interim financial statements of the Group and contains key information presented in a concise manner on the Group and its financial condition. The information contained in this presentation is extract
Slide 3: Results Highlights
1 Results Highlights 2. Prime model continues to drive very strong growth 3. Appendix
Slide 4: eDO continues to show strong growth - Prime Cash Marginal Profit Margin LTM up 8pp to 46%
eDO continues to show strong growth - Prime Cash Marginal Profit Margin(*) LTM up 1 8pp to 46% In 9M FY25 the strength of the Prime model continues to drive significant growth and, as guided, improvements in profitability ● Prime members(*) grew 26% year-on-year reaching 6.8 million, with net adds(**)
Slide 5: Prime model continues to drive very strong growth
2 Prime model continues to drive very strong growth 3. Appendix
Slide 6: Prime delivers significant uplift in profit margins as the Prime member base matures
2 Prime delivers significant uplift in profit margins as the Prime member(*) base matures Cash Marginal Profit Margin(*) for Prime continues to Cash EBITDA Margin(*) improved as a result of this improve as maturity of Prime members(*) increases maturity Cash Marginal Profit Margin(*) (LTM) for Prime Cas
Slide 7: eDO is a subscription business focused on travel
2 eDO is a subscription business focused on travel. Prime strong growth more than offsets the anticipated declines in the Non-Prime side of the business Cash Revenue Margin(*) (LTM) (€M) Cash Marginal Profit(*) (LTM) (€M) +5% +25% 669 703 260 471 389 208 217 67% 83% 58% 71% 147 280 232 61 43 3Q FY24
Slide 8: Strong growth in Cash EBITDA and substantial improvement in margins
2 Strong growth in Cash EBITDA(*) and substantial improvement in margins as the maturity of Prime members(*) increases P&L with increase in Prime deferred revenue Highlights 9M FY25 Var. Var. 3Q 3Q 9M 9M 1. Cash Revenue Margin(*) is 5% above 9M FY24. Cash Marginal (In euro million) FY25 vs. FY25 vs.
Slide 9: Income Statement
2 Income Statement Highlights 9M FY25 Var. Var. 3Q 3Q 9M 9M (In euro million) FY25 vs. FY25 vs. 1. Revenue Margin(*) excluding adjusted revenue items(**) increased by 3% vs. FY25 FY24 FY25 FY24 FY24 FY24 9M FY24 to €489.9 million. This improvement was driven by a substantial 18% increase in Revenue
Slide 10: Cash Flow Statements
2 Cash Flow Statements Highlights 9M FY25 3Q 3Q 9M 9M (In euro million) FY25 FY24 FY25 FY24 1. Net cash from operating activities in the 9M FY25 decreased by €14.5 million, while in 3Q FY25 we show a very meaningful improvement of €32.5 million, Adjusted EBITDA(*) 32.0 19.4 79.7 55.5 which improves
Slide 11: On track to meet FY25 targets
2 On track to meet FY25 targets We expect to see better year-on-year comparatives in the second half of the fiscal year as we increase our member base and the maturity of our Prime eDO FY25 TARGETS Members(*) increases Prime Members(*) 7.25M Cash EBITDA(*) €180M (*) Definitions of Non-GAAP measures on
Slide 12: Appendix
3 Appendix 1. Results highlights 2. Prime model continues to drive very strong growth 3. Appendix
Slide 13: Prime strong growth more than offsets the anticipated declines in the Non-Prime side
3 Prime strong growth more than offsets the anticipated declines in the Non-Prime side of the business Prime (€M) (*) 18% Revenue Margin (excl. Adjusted Revenue Items) 328.6 Var. FY25 vs. 279.6 9M FY25 9M FY24 (In euro million) FY24 Prime 328.6 18% 279.6 Non-Prime 161.3 (17%) 194.6 Total 489.9 3% 47
Slide 14: Top 6 markets continue leading the growth
3 Top 6 markets continue leading the growth Revenue Margin(*) (excl. Adjusted Revenue Items) Top 6 (€M) 5% Var. FY25 vs. 358.9 9M FY25 9M FY24 342.6 (In euro million) FY24 Top 6 markets 358.9 5% 342.6 Rest of the world 131.0 -% 131.6 Total 489.9 3% 474.2 9M FY24 9M FY25 Rest of the world (€M) 27% 0%
Slide 15: Glossary of definitions
Glossary of definitions Non-reconcilable to GAAP measures 1. Gross Bookings refers to the total amount paid by customers for travel products and 6. Adjusted Net Income means the IFRS net income less certain share-based compensation, services booked through or with the Group (including the part that i
Slide 16: Glossary of definitions
Glossary of definitions 12. Cash Revenue Margin means "Revenue Margin" plus the variation of the Prime deferred revenue 18. Gross Financial Debt or Gross Debt means total financial liabilities including financing cost corresponding to the Prime fees that have been collected and that are pending to be a
Slide 17: Glossary of definitions
Glossary of definitions 24. Net Leverage Ratio means the total amount of outstanding Net Financial Debt on a consolidated 27. Revenue Margin per Booking (Non-Prime) means Revenue Margin of the Non-Prime segment basis divided by “Cash EBITDA”. This measure offers to the reader a view about the capacit