Slide 1: Financial Results First Quarter
Financial Results FIRS QUARTER
Slide 2: Presenters
Presenters Alessandro Petazzi Diego Fiorentini Chief Executive Officer Chief Financial Officer
Slide 3: Safe Harbour Statement
Safe Harbour Statement The material in this presentation contains forward-looking statements such as projections, forecasts, and estimates. Such forward-looking statements involve certain risks and uncertainties that could cause actual results, performance, or events to differ materially from those a
Slide 4: Agenda
Agenda Q1 2026 results 01 Alessandro Petazzi & Diego Fiorentini Strategic developments 02 Alessandro Petazzi Financial Calendar 2026 03 Julia Weinhart
Slide 5: Q1 2026 financial performance
Q1 2026 financial performance GTV REVENUES* GROSS PROFIT Q1 Adj. EBITDA Q1 Adj. EBITDA - CAPEX €1,002m €96.4m €37.8m +20% +8% -2% €15.3m €11.1m vs. Q1 2025 vs. Q1 2025 vs. Q1 2025 +6% +26% Packages -4% Packages +2% Packages -3% Flights +73% Flights +36% Flights +22% vs. €14.4m Q1 2025 vs. €8.8m Q1 20
Slide 6: Revenues increased, while Gross Profit reflected a product mix effect and higher marketing investment
Revenues increased, while Gross Profit reflected a product mix effect and higher marketing investment to support volume growth Revenues Gross profit Including extra €m cancellations and €m re-protections linked to +8% (2%) the Middle East conflict of approx. €2.0m Including Cruise for €1.3m 2026 vs 2026
Slide 7: Cost Structure
Cost Structure Disciplined cost management drove meaningful operating cost savings €m % on Revenues Q1 2026 Q1 2025 Delta % Q1 2026 Q1 2025 Delta pp Total Costs (81.1) (74.8) 8% 84% 84% - Variable Costs (58.6) (50.5) 16% 61% 57% 4pp Marketing and Sales costs (42.1) (35.4) 19% 44% 40% 4pp Other varia
Slide 8: Profit and Loss
Profit and Loss Revenues reached €96.4m, (+8% YoY), driven by strong transaction value growth and sustained demand momentum. Excluding the impact of the discontinued cruise business, Revenues growth would have €m Q1 2026 Q1 2025 Delta % been 9.7%. GTV 1,002 832 20% Gross Profit at €37.8m reflecting inc
Slide 9: Net Financial Position (NFP) Bridge 12 months rolling
Net Financial Position (NFP) Bridge 12 months rolling Positive Free Cash Flow before Net Working Capital reached €10.5m, while Free Cash Flow increased from €4.4m to €6.5m Free Cash Flow: +€6.5m Stronger EBITDA contribution sustained Free Cash Flow generation. Slightly higher NWC absorption vs last
Slide 10: Key Takeaways
Key Takeaways Strong January and Disciplined cost Robust cash February performance management and fixed generation, with free and growth trends, cost efficiency, with cash flow before partially offset by the benefits reflecting the working capital Middle East conflict. structural cost actions improving and
Slide 11: Agenda
Agenda Q1 2026 results 01 Diego Fiorentini Strategic developments 02 Alessandro Petazzi Financial Calendar 2026 03 Julia Weinhart
Slide 12: Revenues Split by Markets
Strategic investment in Expansion Markets yields growth momentum Revenues Split by Markets Q1 2025 Q1 2026 Core Markets Expansion Markets 12
Slide 13: Integrating lastminute.com into the AI ecosystem
Integrating lastminute.com into the AI ecosystem 1 2 3 13
Slide 14: FY26 outlook
FY26 outlook FY26 outlook REVENUES ~10% growth Adj. EBITDA 14
Slide 15: Agenda
Agenda Q1 2026 results 01 Diego Fiorentini Strategic developments 02 Alessandro Petazzi Financial Calendar 2026 03 Julia Weinhart
Slide 16: Financial Calendar 2026
Financial Calendar 2026 Our coverage: 15 January 2026 Baader Swiss Equities Conference - Bad Ragaz Volker Bosse - Baader Bank Baptiste de Leudeville - Kepler Cheuvreux 12 February 2026 Announcement of preliminary unaudited FY 2025 results Daniel Buerki- ZKB 2 April 2026 Publication of the Annual Rep
Slide 17: Thank you
Q1 2026 financial results Thank you investor.relations@lastminute.com www.lastminute.com