Unlimited Travel Group UTG
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Unlimited Travel Group UTG (UTG) investor relations material

Unlimited Travel Group UTG Q1 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q1 2026 earnings summary8 May, 2026

Executive summary

  • Revenue increased by 16.6% year-over-year to 203.7 Mkr, driven by acquisitions and strong B2C demand.

  • EBITA improved to -2.7 Mkr from -5.9 Mkr, with margin gains from pricing, currency, and sales investments.

  • Notable acquisitions: NEX Travel (consolidated full quarter), Surfakademin (March), and Waterproof Expeditions (March).

  • Booking levels as of April 30, 2026, were 15% higher than the previous year, indicating robust future demand.

  • B2C segment showed strong growth, while B2B was impacted by event timing shifts.

Financial highlights

  • Revenue: 203.7 Mkr (174.7 Mkr), up 16.6% year-over-year.

  • Gross margin: 24.7% (18.4%), with comparable companies at 21.6% (18.4%).

  • EBITA: -2.7 Mkr (-5.9 Mkr); adjusted EBITA for comparable companies: -1.6 Mkr (-3.2 Mkr).

  • Net result: -5.6 Mkr (-7.1 Mkr); EPS: -0.60 kr (-0.69 kr).

  • Cash flow from operations: 63.6 Mkr (17.8 Mkr); net cash: 60.0 Mkr (26.7 Mkr).

Outlook and guidance

  • Booking levels remain strong, with a 15% year-over-year increase as of April 30, 2026.

  • Focus remains on portfolio expansion, performance, and people, with continued acquisition activity.

  • Market uncertainty persists, especially regarding flight costs and capacity.

NEX Travel agent model impact on gross margin
B2C growth drivers versus B2B timing variances
Mitigating rising flight costs and capacity risks
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Q2 20267 Aug, 2026
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