eDreams ODIGEO : The Prime model continues to deliver; Outperform, target price lifted to € 9.0
>Strengthened profitability and momentum for gains of new Prime members continues - Our key takeaways from the full-year earnings for eDreams: i/ strengthening profitability with the cash marginal profit margin up 5.7 points y-o-y (vs 1.1 points in 2022-2023), buoyed by savings on variable costs (mainly acquisition costs), which in 2023 represented 67.9% of the cash revenue margin vs 73.5% in 2022 (i.e. contribution from the loyalty programme which encourages repeated...eDreams Odigeo SA is a Luxembourg-based company principally engaged in the travel and recreational services. The Company is a travel group composed of various brand names, such as eDreams, GO Voyages, Opodo, Travellink, Liligo and Budgetplaces. It offers flights, cruises, car rental, travel insurance, as well as short and long-stay packages. It provides online travel services, including booking of scheduled, charter and low-cost flights, hotels, self-catering accommodation and cruises, traditional and non-traditional package holidays, car hire, train tickets and bus tickets, as well as travel insurance; corporate travel; white-label services, which allow access to various Web platforms; media services, such as targeted advertising, and venture farm to invest in companies with different types of business models and technologies.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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