eDreams ODIGEO Enhances Shareholder Value With Multi-stage Share Capital Reductions

MADRID--(BUSINESS WIRE)--eDreams ODIGEO (the “Company” or ‘eDO’), the world’s leading travel subscription company and one of Europe’s largest e-commerce firms, announced today that its Annual General Meeting of Shareholders (AGM) unanimously approved the resolution proposals for multi-stage capital reductions to enhance shareholder value and optimise its capital structure.

At today’s AGM held in Madrid, shareholders authorised the first stage in this programme, which consists of a capital reduction that will be carried out immediately. This entails the redemption of 2,980,000 shares (representing approximately 2.33% of eDO’s share capital), each with a par value of EUR 0.10. These shares were originally acquired by eDO under the buyback programme announced on 19 November 2024 and already executed.

Furthermore, in a move to provide strategic flexibility and to enable sustained shareholder value creation, shareholders at the AGM also granted the Board of Directors authorisation for additional, future capital reductions of up to 9,000,000 shares by way of three separate capital reductions of up to 3,000,000 shares each (approximately 2.35% of the Company’s share capital as of the date of the approval in each capital reduction). Each capital reduction can be approved by the Board and executed based on market conditions and strategic priorities over the coming months. The overarching purpose of these capital reductions is to increase earnings per share, directly contributing to value accretion to the Company’s shareholders.

David Elizaga, Chief Financial Officer at eDreams ODIGEO said: "This multi-stage capital reduction strategy powerfully demonstrates our ongoing commitment to delivering value to our shareholders. By harnessing the strong and increasing cash generation from our leading subscription model, we are continuously enhancing our capital structure and directly boosting shareholder returns through our share repurchase schemes and now through the redemption of shares. The approval of all AGM resolutions further affirms our strategic direction and the confidence that shareholders have placed in our vision and execution."

The first capital reduction approved today is expected to be formalised and made effective as soon as the necessary legal and administrative procedures are finalised. The remaining share capital reductions may be executed by the Board of Directors within the terms authorised by the AGM and relevant regulations. This comprehensive approach to capital reduction was one of several items voted at the AGM, all of which were approved by shareholders, demonstrating endorsement for eDO’s direction and management.