Edreams Odigeo · BME:EDR
Edreams Odigeo — FY26 Earnings Presentation
30 slides from Edreams Odigeo's earnings presentation, May 28, 2026
Slide 1: Results Presentation FY26
RESULTS PRESENTATION FY26 28th May 2026 eDreams ODIGEO
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by eDreams ODIGEO, S.A. (the “Company” and, together with its subsidiaries, the “Group”) solely for information and background purposes and has not been independently verified by any third party. This presentation contains information extracted from and
Slide 3: Results highlights
1 Results highlights 2. eDO Results for FY26 3. Strategic Review 4. Artificial Intelligence 5. Closing Remarks 6. Appendix eDreams ODIGEO 3
Slide 4: FY26 results ahead of expectations - successful start to new long-term strategic roadmap
FY26 results ahead of expectations - successful start to the Company’s new 1 long-term strategic roadmap Results ahead of expectations ➔ Prime members1 ahead of expectations, grew 9% reaching 7.9 million, 643k net adds2 in FY26. ➔ Cash EBITDA1 ahead of expectations to €157.0 million vs. our target o
Slide 5: eDO Results for FY26
2 eDO Results for FY26 3. Strategic Review 4. Artificial Intelligence 5. Closing Remarks 6. Appendix eDreams ODIGEO 5
Slide 6: eDO is now a clear subscription business focused on travel
eDO is now a clear subscription business focused on travel 2 75% Prime Share of Cash 90% Prime Share of Cash Revenue Margin1 Marginal Profit1 1 Definitions of Non-GAAP measures on page 28-30. eDreams ODIGEO eDO Results for FY26 6
Slide 7: The Prime subscription model is the engine of our growth
The Prime subscription model is the engine of our growth. In FY26 Adjusted EBITDA1,2 2 grew 29% year-on-year P&L with increase in Prime deferred revenue Highlights FY26 Var. Var. 4Q FY26 4Q FY26 In FY26, despite a challenging macro environment, our Prime subscription model remains (In euro million)
Slide 8: Income Statement
Income Statement Highlights FY26 2 Var. Var. 1. Revenue Margin1 was in line with FY25 and reached €668.5 million. This 4Q FY26 4Q FY26 performance was driven by a 10% increase in Revenue Margin1 for Prime, (In euro million) FY26 vs FY25 FY25 FY26 vs FY25 FY25 resulting from expansion of our Prime me
Slide 9: Cash Flow Statement
Cash Flow Statement 2 4Q 4Q (In euro million) FY26 FY25 FY26 FY25 Highlights FY26 Adjusted EBITDA1 33.9 53.9 172.3 133.7 1. Net cash from operating activities in FY26 increased by €28.7 million, mainly reflecting: Adjusted items1 (5.6) (7.6) (27.1) (21.1) ○ Adjusted EBITDA1 increased to €172.3 millio
Slide 10: Strategic Review
3 Strategic Review 4. Artificial Intelligence 5. Closing Remarks 6. Appendix eDreams ODIGEO 10
Slide 11: Strategic growth plan - Evolving our subscription model for accelerated growth
Strategic growth plan - Evolving our subscription model for accelerated growth 3 UNLOCKED POTENTIAL CURRENT PRIME SUCCESS Today and growing… Longer term Pioneering and world-leading travel subscription platform 15 Up to 44 Markets Markets Strong unit economics 5 Product Additional Product Segments S
Slide 12: Strategic Review: high conviction move from a position of strength
Strategic Review: We have done this from a position of strength and is a high 3 conviction move based on solid data from extensive evaluation and not a defensive move DE-RISKED BUSINESS A “TEAM THAT ACCELERATED GROWTH MODEL DELIVERS” The company is set for By entering new markets and It is not the fi
Slide 13: Accelerated Growth: Positioned for accelerated growth with a team that delivers
Accelerated Growth: Positioned for accelerated growth with a team that delivers 3 Prime Members1 Cash EBITDA1 (in millions) (in million euros) 15.0 300.0 30 >13M - FY Y30 Y 27 2 7-F R F -20% FY 13.0 G GR 33% CA 15 CA 200.0 11.0 9.0 100.0 7.0 5.0 FY26 FY27 FY28 FY29 FY30 FY26 FY27 FY28 FY29 FY30 Betw
Slide 14: De-Risked Business Model: guidance built on conservative, high-certainty foundations
De-Risked Business Model: The new guidance is built on conservative, high-certainty 3 foundations A DE-RISKED BUSINESS MODEL THROUGH: GEOGRAPHIC EXPANSION PRODUCT EXPANSION eDO 5 NEW MARKETS WITH GREAT POTENTIAL RAIL HOTELS Key growth driver, our new International markets Significant progress in show
Slide 15: Geographic Expansion - Beyond Europe - Prime in 5 new markets
De-Risked Business Model: Geographic Expansion - Beyond Europe - We launched 3 Prime in 5 new markets with great potential Good results demonstrating: HIGHER - household penetration (Year 1) HIGHER - NPS HIGHER - Prime attach rate1 (vs. European Top 5 markets2) We launched Prime in the 5 markets wit
Slide 16: Product Expansion Rail (i)
De-Risked Business Model: Product Expansion Rail (i) 3 Entering into an attractive market to drive subscriber growth and increase engagement The European rail market: …is large and growing …is deregulating and opening ……already taken huge share from up to competition short distance flight market Numb
Slide 17: Product Expansion Rail (ii)
De-Risked Business Model: Product Expansion Rail (ii) 3 Successful entries across several markets have demonstrated a significant growth opportunity within rail, while confirming our competitive monetisation advantage through Prime. Through Prime, eDO is well positioned for market leadership in this s
Slide 18: Product Expansion Hotels
De-Risked Business Model: Product Expansion Hotels 3 We have made significant progress and continue to invest to accelerate growth Large Hotel Opportunity Continue to focus on: €541Bn Global Hotel Market €308Bn Online Hotel Market Superior Offer More Greater customer greater payment inventory experie
Slide 19: A team that delivers
A team that delivers: It is not the first time we have announced a long-term plan and 3 each time we have met our 3-year guidance We transformed our business from transaction to We created a strong consumer business subscription eDreams ODIGEO vs. highest rated and average OTAs A team that delivers P
Slide 20: Artificial Intelligence
4 Artificial Intelligence 5. Closing Remarks 6. Appendix This section is a summary of our AI Session on the 20th of May, for the full presentation please follow this link: eDreams ODIGEO https://s202.q4cdn.com/903232390/files/doc_presentations/2026/05/eDreamsODIGEO_AI-Session.pdf 20
Slide 21: eDO an AI-first company for more than a decade
eDO an AI-first company for more than a decade 4 Establishing one of Adopting AI driven Early adopter of Recognised leader Customer Service the first in-house AI personalisation at a proprietary among AI-led multi-agent teams in the travel individual customer Generative AI companies globally. customer
Slide 22: eDO an AI First company for more than a decade
eDO an AI First company for more than a decade 4 EXISTING CUSTOMERS - A big percentage of our PROSPECTIVE CUSTOMERS - Customers use AI for customers do not come from hypercompetitive inspiration and search but no booking functions exist REALITY TODAY performance marketing but from repeat Prime custo
Slide 23: Innovation capacity is skyrocketing through AI-driven productivity
Our innovation capacity is skyrocketing through engineering, becoming more 4 productive via AI PRODUCTIVITY CUSTOMER SERVICE +24% >47% advanced AI based Productivity increase 13% PRICING pricing (FY26 vs. FY25) year-on-year1 Total cost reduction in FY261 In our most advanced teams 30% all of our cod
Slide 24: Closing Remarks
5 Closing Remarks 6. Appendix eDreams ODIGEO 24
Slide 25: We are delivering a much better business
We are delivering a much better business… 5 HIGHER HIGHER STRONGER MORE SHAREHOLDER GROWTH CUSTOMER LTV CUSTOMER LOYALTY DIVERSIFIED REMUNERATION 15-20% 1 >13% >10% 66% €100M Prime Members Higher Lifetime Value Higher NPS Prime of eDO volume will be Committed share CAGR FY27-FY30 for Prime annual wi
Slide 26: Continue with share buy-back and committed remuneration to shareholders
… and continue with share buy-back and committed remuneration to our shareholders 5 Share Buy-back commitment At today’s prices share of eDO Market Capitalisation pending to be repurchased €33M Repurchase since 19% October 2025 of market capitalisation to be repurchased before end of September 2027
Slide 27: Appendix
6 Appendix eDreams ODIGEO 27
Slide 28: Glossary of Definitions
Glossary of Definitions 6 Non-reconcilable to GAAP measures c. Adjusted Revenue items refers to adjusted items that are included inside revenue. 1. Gross Bookings refers to the total amount paid by customers for travel products and d. Adjusted interest expense on debt refers to one-off costs from deb
Slide 29: Glossary of Definitions
Glossary of Definitions 6 11. Cash Marginal Profit Margin means Cash Marginal Profit divided by Cash Revenue Margin. See 18. Gross Financial Debt or Gross Debt means total financial liabilities including financing cost definitions of "Cash Marginal Profit" and "Cash Revenue Margin". Cash Marginal Profit Mar
Slide 30: Glossary of Definitions
Glossary of Definitions 6 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 divided by the number of Non-Prime Bookings. See definitions of "Revenue Margin" and basi