Core Viewpoint - eDreams ODIGEO has initiated a new phase in its share capital reduction strategy, aiming to enhance shareholder value through share buybacks and capital optimization [1][5]. Group 1: Share Capital Reduction - The company has completed the redemption of 3 million shares, following a previous redemption of 3 million shares on October 7, 2025, and an initial reduction of 2.98 million shares on July 11, 2025, totaling approximately 9 million shares redeemed in five months, which is about 7.57% of the current share capital [2][3]. - This recent execution is the second of three capital reductions authorized by shareholders at the Annual General Meeting in July 2025, with the Board of Directors retaining the authority to execute an additional reduction of 3 million shares [3][4]. Group 2: Financial Strategy and Goals - The overarching purpose of these capital reductions is to increase earnings per share, contributing to value accretion for shareholders, supported by a robust business model and strong cash flows [5]. - The company plans to invest €100 million in further share repurchases over the next two years, while targeting 13 million subscribers by 2030 through strategic growth initiatives [5]. - The Chief Financial Officer highlighted that the share cancellation reflects the strong cash-generating capacity of the Prime subscription model, with nearly 9 million shares canceled since July [6].

Core Insights - eDreams ODIGEO reported an 18% year-on-year growth in Prime membership, reaching 7.7 million members, and a 16% increase in profitability to €94 million for the first half of fiscal year 2026 [1][2][5] Financial Performance - Overall revenues increased by 5% to €344 million, with Prime-related revenues rising by 20% year-on-year to €294 million, indicating a strong focus on the subscription model [5][6] - Cash EBITDA grew by 16% year-on-year to €94 million, with the margin on the core customer offering increasing to 42%, up from 36% in the same period last year [6] - Adjusted Net Income rose significantly to €47.1 million, compared to €8.1 million in the first half of fiscal year 2025 [6] Strategic Initiatives - The company unveiled a new long-term strategic roadmap aimed at accelerating Prime membership growth to over 13 million by 2030, which is 40% higher than analyst consensus [5][11] - The plan includes investments in product diversification, international expansion, and the introduction of new subscription options [11] Shareholder Value - eDreams ODIGEO executed a share buyback plan, investing €32.6 million in share repurchases in the first half of the fiscal year, with an additional €100 million planned over the next two years [5][11] - The company cancelled approximately 5% of its outstanding shares to enhance earnings per share and shareholder value [6][11]

Core Insights - A significant shift in US travelers' behavior has been identified, with flexibility now being a top priority for vacationers [1] Group 1: Research Findings - The research was commissioned by eDreams ODIGEO, a leading travel subscription company, and involved a global study with 9,000 respondents, including 2,000 from the US [1] - 51% of US travelers indicated that flexibility is more important now than it was five years ago [1]