eDreams ODIGEO Completes Its Revenue Model Shift

BARCELONA, Spain, May 7, 2019 /PRNewswire/ -- eDreams ODIGEO (the "Group" or the "Company"), Europe's largest online travel company and one of the largest European e-commerce businesses, today announced that as of 31st March 2019, it has completed its ambitious revenue model shift in all its major markets. This transformation plan was aimed at building a more customer-centric organisation with increased transparency for travellers, which will provide the foundations for the long-term success of the business.

As a result of the enhanced customer experience and increased user satisfaction, this shift in the revenue model will allow the Group to further reduce customer acquisition costs, increase conversion and boost mobile bookings as travellers take advantage of the Company's broad inventory and innovative features.

As announced in June 2018, the strategic investments made to complete this transformation led to softer revenue margin growth and a reduction in bookings and adjusted EBITDA in the first half of the fiscal year 2019. However, this trend has reversed in the second half of the fiscal year, and the Company is confident in the continued successful execution and evolution of its strategy.

Dana Dunne, Chief Executive Officer, said: "Two years ago, we announced an ambitious transformation of the Company that has resulted in us being in a much stronger position today. Our goal was to respond to evolving traveller needs with a more transparent and customer-centric business. We are proud to have delivered this. As we start our new fiscal year, we begin a new and exciting chapter for our company, focused on further expanding our diversification strategies through greater innovation, which will continue strengthening our business in the long-term for the benefit of both our customers and our shareholders."

The company re-confirms its updated full year 2019 results guidance for Revenue Margin, Adjusted EBITDA and Bookings, which will be released on Tuesday, 25th of June, before market opens:

About eDreams ODIGEO

eDreams ODIGEO is one of the world's largest online travel companies and one of the largest European e-commerce businesses. Under its four leading online travel agency brands – eDreams, GO Voyages, Opodo, Travellink, and the metasearch engine Liligo – it offers the best deals in regular flights, low-cost airlines, hotels, cruises, car rental, dynamic packages, holiday packages and travel insurance to make travel easier, more accessible, and better value for the more than 18.5 million customers it serves across 46 markets. eDreams ODIGEO is listed in the Spanish Stock Market.

SOURCE eDreams ODIGEO