Lastminute leaves losses and earns 8.2 million in 2018

Lastminute.com Group, formerly the Bravofly Rumbo Group, expects to close 2018 with an approximate profit of 8.2 million euros, compared to the ‘red numbers’ of 7.8 million registered a year earlier, according to the ‘online’ group of trips, which has presented its preliminary unaudited accounts today.

The company puts its adjusted gross income before taxes (Ebitda) at around 44 million euros, 60% more than the operating profit of 27.5 million euros recorded during the year of 2017.

Lastminute, which will present its annual results on March 19, achieved 2018 revenues of 285.6 million euros, 13.5% more than the previous year.

Lastminute’s main business continued to be the online travel agency. After a few “difficult” months, the last quarter was an economic recovery of the business in terms of volume and profitability. In addition, the integration of weg.de, a tour operator’s package portal, also produced good results.

The search engine businesses also obtained good results due to the positive change of Hotelscan, where revenues were multiplied by four compared to 2017.

The group has indicated that the balance remains strong, since despite the investment of some 31.5 million euros to finance the repurchase of shares and the acquisition, the available cash is almost 40% higher, because of the cash generated and the availability of negotiated credit lines to finance these investments.