Revenues increased to €37 million in the second quarter of 2021 for Lastminute.com Group, as travel restrictions eased in the company's core European markets.
The jump of 213% year-over-year points to a "strong rebound" for the business, especially in June when Lastinute.com Group says income was in line with pre-COVID level despite lower booking volumes.
Adjusted EBITDA shifted from a loss of €6 million in Q2 2020 to a profift of €7 million in latest reporting period.
The company says it expects leisure travel to fully recover in 2022.
Some 40% of the the vouchers that the company released during the pandemic, giving customers the opportunity to use for rearranged travel plans, have now been used, chief financial officer Sergio Signoretti says.
CEO Andrea Bertoli adds: "We will likely continue to face challenging market conditions in the near future. The recovery will take some time then to bring the total travel market at pre-COVID levels, but we expect booming demand for online leisure travel as soon as restrictions are lifted."
Revenues for the first six months of 2021 now stand at €50 million, down from the €83 million figure in the corresponding six months last year.
Bertoli says: "The pandemic led to a structural change in people's behaviour and approach to many aspects of their lives.
"Digitalisation grew dramatically, boosting the usage of online services not only in eCommerce but in all the sectors of the economy, from education to entertainment and public services.
"Digital adoption has been accelerated by at least three years, compared to the trajectory forecasted prior to the pandemic. This is particularly true for online travel that reported a +38% share growth in the six months prior to April 2021. Such a steady and accelerated shift from offline to online is a no-return trend."