eDreams Odigeo has reported a 9% growth in bookings for the year to 31 March 2017.
The Spain-based online travel agency also reported a 57% increase to net income of €31.6 million on an adjusted basis.
The company says it is managing to diversify both is products and where it gets its revenue from, a big part of the strategy for the company over the past couple of years.
eDreams CEO Dana Dunne says:
“Our diversification into new products in both the flight and non-flight categories, including preferred seating, baggage, dynamic packages, car hire and hotels, contributed significantly to the strong growth in bookings and revenue margin this year and our acquisition of budgetplaces.com will enable us to accelerate the growth of our dynamic packages business.”
The company acquired budgetplaces at the beginning of this year saying it would give the OTA access to “innovative technology” and further help it diversify its products.
eDreams Odigeo also sold its corporate travel arm Travellink in the year which had some impact on the figures.
Bookings in non-flight businesses were up 3% while revenue margin in non-flight businesses was up 7% attributed to increases in revenue margin per booking in hotels, cars and dynamic packages.
In guidance for the 2018 financial year, the company says it expects bookings in excess of 11.7 million, revenue margin of more than €487 million and adjusted EBITDA of €115 million, which would represent a 7% growth year-on-year.