Dana Dunne0:04
Hello, my name is Dana Dunne. I'm the CEO of eDreams ODIGEO, we call ourselves eDO, and we are the world's largest travel subscription company and one of Europe's largest e-commerce companies as well. We offer an outstanding investment opportunity as well as a superior customer proposition. Now let's dive into each of these so you can learn a little more about us. We have a superior business model that's based around subscriptions. Subscriptions in many other industries by companies such as Netflix and Costco for retailing and supermarkets, and so many others that have been incredibly successful around the subscription model. We are the ones pioneering it in travel, and we're not just taking that model but we're innovating on it and taking it to new heights all together. This means that we're no longer the company that we were in 2017 when we first launched our subscription program called Prime. Today the majority of our revenues actually come from subscribers, and what that means for investors is that we have a much more stable base of customers, we have a much more predictable base of revenues, and a recurring revenue and profit stream. As we expand our subscription platform, we will continue to grow our profits and our revenue. In Europe, if you look at other subscription programs, they typically penetrate households by around 20 to 60% of European households. We currently are sitting in the low single digits in terms of penetration of households for our Prime subscription program. Thus we have a huge, huge market growth opportunity in front of us both in terms of our revenues, members, and profits. And we're uniquely positioned in an incredibly attractive segment: travel. Travel is the largest e-commerce segment that there is in the entire world, and we're in the really attractive parts of it: online and leisure. These are both growing extremely well and have great prognosis over many years to come. eDreams ODIGEO is unique in terms of profitability and growth. Subscription model companies like Costco or Netflix show very good growth in both profitability and revenues, and we're no exception to that. In fact, we're taking the subscription model to new heights by really innovating on it and pushing the boundaries of what can be achieved. Our success is deeply rooted in our fundamental leading capabilities around tech and AI. This is at the core DNA of what we've been, and we continue to pioneer this not just within travel but within e-commerce as one of the global leaders in it. For over a decade we have been absolutely at the forefront in terms of AI, and that continues to show why we have such superior proposition and results versus our competitors. Our leadership position, coupled with our subscription program and our tech capabilities, puts us in pole position to achieve great results in an incredibly attractive market: the online travel leisure market. We have more than 7 years of offering a travel subscription program as the first mover, and that has great advantage for us as we continue to improve and iterate for our customers each and every day. We are well positioned, well financed, and well on our track to meeting or exceeding our FY24 targets. We're achieving high profitability and have large, large growth potential in front of us. All of which is leading us to have superior returns for our investors and a superior proposition for our customers. Our journey does not end here, and we have such great growth opportunities beyond FY24. When you look at Prime, it's in just a handful of countries, and in fact from a transaction based business we're in 44 countries. So we will continue to roll out Prime to yet another and another and another country, all of which increases our total addressable market. Also within our existing markets, we've rolled out Prime but there still is great penetration growth of households because we still are at the very low end in terms of penetration of households in those markets. When you look at other subscription programs, they too segment the customer base, offering unique propositions to certain niche segments as well as going into entirely new customer segments as well. All of this is opportunities for growth for us. And lastly, around the product dimension: Prime started as flight only, it now has four travel offerings within it: flights, hotels, cars, and packages. And we can think about a fifth, sixth, and seventh. All those are great growth opportunities for us as we really delight our customers. For those seeking a high growth, profitable investment, eDreams ODIGEO is the place to be. We have a superior proposition to customers and a really attractive offering to investors, and we look forward to growing with you.
