EDreams ODIGEO announces €4.9 million profit with one in four flights booked on mobile

European OTA eDreams ODIGEO delivered a “solid” first half financial performance with bookings up by 8% to 5.4 million.

European OTA eDreams ODIGEO delivered a “solid” first half financial performance with bookings up by 8% to 5.4 million.

Revenue for the six months to September rose by 6% to €230.8 million as the company moved from a loss of €300,000 in the first half of 2014 to a net profit of €4.9 million.

Projected annual bookings for 2015-16 have increased to 9.7 million, providing revenue of more than €436 million and adjusted earnings [EBITDA] of between €91-€94 million.

Mobile now accounts for almost a quarter of all flight bookings.

Flight mobile bookings increased by 55% in the half year and mobile app downloads were up by 44% to reach a cumulative figure of 5.3 million downloads.

Dana Dunne, chief executive, said: “The actions we have taken to stabilise the business are having an impact and we have delivered a good first half performance.

“Our booking trends are continuing to improve at a strong rate and our growing market shares are particularly encouraging.

“At the same time, we are making strong progress in the strategy I set out in June. This has been particularly pronounced in the investment we have made in the customer experience both in the overall customer interface and specifically in mobile.

“This activity is already translating into strong client satisfaction scores which bode well for the future.

“Looking forward, the stabilisation in our financial performance allows us to reinvest to drive market share and revenue growth. Our strategy will continue to drive improvements across our business.”