eDreams Odigeo has recorded marginal growth for the first quarter of 2017.
The European OTA reported 1% revenue growth to €125 million in the first three months of the year compared to 2016.
But EBITDA fell 51% to €13.3 million and the group recorded a net loss of €6.9 million, compared to a profit of €7.7 million a year ago.
The company said it is aiming for an adjusted EBITDA of about €115 million for the rest of the fiscal year.
Chief executive Dana Dunne, said: “We have delivered a solid set of results in the first quarter, despite tough comparatives with FY2017, and have performed ahead of guidance.
“We continue to deliver against our KPIs, growing new revenue streams as a result of our diversification strategy, increasing our share of flight mobile bookings, well ahead of the industry average, whilst lowering our cost of acquisition per booking. These initiatives are helping us to become the best value and most convenient one-stop-shop for travel.”
“As expected and previously guided, we experienced some softness in revenues and profit due to the accelerated investment in our transition to mobile and evolution in change of our revenue model, as well the sale of some non-core businesses and an Easter seasonality effect.
“We expect softness in H1 as we make investments to build scale, improve our business model and create a world-class customer experience and growth around 7% in Adjusted EBITDA for full fiscal year.”