Steady growth ‘ahead of market expectations’, says eDreams boss

European OTA eDreams Odigeo saw a 41% rise in adjusted net profits to €10.9 million in the nine months to December 31, 2015.

European OTA eDreams Odigeo saw a 41% rise in adjusted net profits to €10.9 million in the nine months to December 31, 2015.

This came as bookings rose by 10% year-on-year as mobile captured a quarter of all flight bookings, claijed by the company to be ahead of the EU average of 17%.

The company said: “During the first nine months, the competitive landscape remained stable, mobile channel bookings continue growing and the company continues to grow market share.

“This resulted in bookings growing 10% to 7.8 million, and a rise of 6% in revenue margin to €333.9 million.”

Chief executive, Dana Dunne, said: “These results reflect significant progress made this year, with bookings, revenue margin and EBITDA all growing at a steady rate.

“Our expansion markets continue to grow strongly and our core markets returned to growth for a second consecutive quarter.

“The rapid increase in mobile bookings has been particularly pleasing, along with improvements in our product, traffic optimisation and revenue diversification. We continue to improve customer experience and are seeing positive results.”

He added: “These strong results, ahead of market expectations, indicate that our strategic initiatives are working as intended and have enabled us to raise our guidance for the full year 2015-16.”