eDreams ODIGEO raises full year guidance

Leading European OTA eDreams ODIGEO saw adjusted net income rise by 78% to €19.4million in the first nine months of 2016. Continue reading →

Leading European OTA eDreams ODIGEO saw adjusted net income rise by 78% to €19.4million in the first nine months of 2016.

The Barcelona-based company reported a 9% rise in bookings in the period to December 31.

The company raised its full year guidance to a 5%-8% growth in bookings to 11.2 million-11.5 million with adjusted earnings [EBITDA] up by more than 10% to between €105 million-€107 million.

Chief executive, Dana Dunne, said: “We have had a good nine months of the financial year to date with continued growth in bookings, revenue margin and adjusted EBITDA.

“The strategic initiatives that we put in place continue to drive this performance.

“In addition we have invested and continue to invest to strengthen our long term competitiveness,growth and customer proposition.

‘In particular, we are focusing our continued investment around the customer, including the further differentiation of our offer and the speed with which we can respond to and lead consumer trends.

“As we have said previously, this investment of some topline growth in the short term, will, over the longterm, deliver a more compelling and competitive ecustomer proposition and robust, high quality revenue growth.

“As a result of these initiatives, we have revised up our expectations towards the upper end of the guidance we provided at the start of the year.”