eDreams ODIGEO Confirms Guidance to Deliver +29% Growth in FY26 Adjusted EBITDA as It Sets to Accelerate Long-Term Value Creation

Core Insights - eDreams ODIGEO (eDO) has confirmed its guidance for FY26, projecting a 29% year-on-year growth in Adjusted EBITDA to reach a record €172.9 million [1][3][6] Strategic Growth Plan - The company aims to increase its Prime subscriber base from 7.7 million to over 13 million by 2030, representing a 40% increase above market consensus [2][16] - To facilitate this growth, eDO will introduce monthly and quarterly installment options for Prime subscriptions, which have shown to generate 13% higher Lifetime Value (LTV) and a 10% increase in customer satisfaction (NPS) [2][5] - The shift to an installment-based payment model will impact cash collection timing, affecting KPIs sensitive to cash timing, such as Cash EBITDA [2][5] Operational Performance - eDO is entering a period of investment supported by its strongest operational performance to date, with a projected Adjusted EBITDA increase of 29% year-on-year to €172.9 million in FY26 [3][6] - Even with a conservative forecast regarding limited access to Ryanair content, the company anticipates an Adjusted EBITDA of €155.6 million pre-investments for FY27 [4] Investment Focus - The company is positioned to execute its strategic roadmap, focusing on high-return investments in new product categories like Rail and expanding into new international markets [5][7] - Most of these investments will be expensed rather than capitalized, with extensive testing providing confidence in their value creation potential [5][7] Long-term Vision - eDO is committed to sustainable long-term value creation, aiming for a significantly enlarged Prime membership base and a more diversified, profitable business by 2030 [8][9]