Electronics

Lastminute.com Group Credits Package Travel to Increase Revenue

Lastminute.com group The “strong rise” in financial performance claims that it has steadily returned to its trip to Europe, especially with the support of packaged products.

Online travel agencies and providers of Metasearch brands such as Latminute.com, Rumbo, BravoFly and JetCost said total revenue for the entire portfolio reached € 55 million in the third quarter of 2021, up 60% year-on-year. I am.

Adjusted EBITDA was € 13 million (up 289%) over the same period and balance sheet net cash was € 48 million.

According to the company, it plans to increase staff in the coming months, especially in the IT department.

With the sale of package tours from July to September, this product contributed significantly to the Group’s margin indicators, accounting for 70% of the total.

CEO Andrea Bertoli said he hopes that demand for leisure travel will “return to normal” by the end of 2022.

Fabio Cannavale, CEO of Lastminute Holdings, said: Resuming a profitable business.

“There has always been a cash surplus since the time of the IPO. It was not natural to maintain it even during the peak of the crisis. Now that the business is steadily recovering, we have a high level of structural cash. The model, which begins to benefit from inns, will have more resources to invest in innovation. ”

https://www.phocuswire.com/Lastminute-Group-credits-package-trips-revenue-boost Lastminute.com Group Credits Package Travel to Increase Revenue

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