lastminute.com (LMN) investor relations material

Executive summary

• Achieved strong and resilient growth in Q1 2026, with revenues up 8% year-over-year to €96.4 million, outperforming sector peers and driven by robust transaction value growth and sustained demand, despite a softer March due to Middle East geopolitical tensions.

• Adjusted EBITDA increased 6% year-over-year to €15.3 million, reflecting operational efficiency, cost discipline, and structural actions from 2025, even after absorbing €2 million in one-off costs related to the Middle East conflict.

• Net result reached €6.6 million, up 2% year-over-year, with EPS at €0.62, broadly in line with the prior year.

• Strategic investments in expansion markets and AI-driven automation contributed to revenue growth, market diversification, and operational efficiency.

Financial highlights

• Q1 revenues reached €96.4 million, up 8% year-over-year; like-for-like growth was 9.7% excluding discontinued cruise operations.

• Gross Travel Value (GTV) rose 20% year-over-year to €1,002 million.

• Adjusted EBITDA rose 6% to €15.3 million; EBITDA up 66%; adjusted EBITDA minus CapEx up 26%.

• Free cash flow increased 46% year-over-year; 12-month free cash flow at €6.5 million after €8.5 million in non-recurring items; free cash flow before working capital was €10.5 million.

• Gross profit declined 2% year-over-year to €37.8 million, mainly due to €2 million in cancellation/reprotection costs from Middle East disruptions.

• EBIT declined 6% year-over-year to €8.8 million due to higher depreciation and amortisation.

Outlook and guidance

• Guidance for full year 2026 confirmed, targeting approximately 10% growth for both revenues and adjusted EBITDA, with continued demand and order growth seen in April and early May.

• Ongoing cost discipline and strategic investments are anticipated to sustain performance, despite external uncertainties.