Lastminute.com Group says the business is recovering "very rapidly" in the first few months of 2022 following the initial impact of the latest variant of COVID-19.
The online travel agency and metasearch brand says revenues and margins are coming close to pre-pandemic levels.
This is driven by its packaging unit, the company says in an earnings report for the full-year 2021.
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Revenues for the company in 2021 end up 10% on 2020, hitting €150.1 million for the full year (it posted €55 million in revenues in third quarter).
Adjusted EBITDA for the year reached €19 million, reversing a €3.4 million loss in 2020.
The statement says the invasion of Ukraine by Russian forces in late February has not had a material impact on the company so far, with the two countries accounting for just 1% of business in 2021.
CEO and chief operating officer of Lastminute.com, Andrea Bertoli, says the company, which includes the Lastminute.com, Rumbo, BravoFly and JetCost brands, has established a "well-balanced" footprint across multiple countries, giving it diversification in geographies and no reliance on a single country.
"Germany, France, U.K., Italy and Spain generate 89% of our revenues and the biggest market "Germany" represents less than a quarter of the total," he adds.
Fabio Cannavale, founder and CEO of Lastminute.com Group, says: “After a period of great challenges, we are finally seeing recovery in the online leisure market.
"What happened in the recent past has paused our growth but has also given us the possibility of improving our organization as well as our technology and better preparing for the years to come."