Loyal subscribers drive Spain's eDreams' full-year profit

By Javi West Larrañaga

MADRID (Reuters) - Spanish online travel booking company eDreams ODIGEO announced on Thursday that its full-year net profit rose almost 40% from the previous year, driven by subscribers who stayed on after the first year.

Revenues grew 6% to 717.9 million euros ($809.36 million) in the 2025 fiscal year that ended in March, from 676.1 million in 2024, surpassing the 700-million euro mark for the first time in the company's 25-year history.

The Barcelona-based firm posted a 45.1 million euro net profit, a significant increase from 2024 but below the 50.8 million euros analysts had forecast, according to an LSEG survey.

Second-year subscription renewals were among the most important drivers for profitability as the marketing costs of attracting them had already paid off, Chief Financial Officer David Elizaga told Reuters.

While subscriptions are common in other industries, such as music, television and telecoms, eDreams pioneered a membership model giving customers, who pay a flat fee of 70 to 90 euros, access to discounted airlines and hotel bookings through its website.

Almost 87% of its profit in the fiscal year came from subscriptions, the company said, adding that it now had 7.26 million paying subscribers, slightly more than a target of 7.25 million set in 2021.

It expects to add at least another million subscribers by March next year, it added.

Several European airlines have launched similar services in recent years, with low-cost Wizzair and Ryanair offering discounts and free reserved seats for an annual fee.

Asked about the increasing competition in the sector, Elizaga said eDreams provided a superior product for Europe's fickle travellers.

"The average European customer does not always go to the same places ... and by definition is not a loyal customer to any airline," he said.

The company's shares were up 2.5% shortly after market open before trading flat later in the session.

($1 = 0.8870 euros)

(Reporting Javi West Larrañaga; edited by Inti Landauro and Joe Bavier)