On the Beach reveals strong half of year results with double digit revenue growth

CEO, Shaun Morton, is 'pleased' with new numbers

On the Beach has announced its results for the first half of the year to show a strong six months.

The interim results that ended on March 31 of this year showed booked TTV up 13%, driven by an increase in volume of bookings at 11% which is significantly ahead of the market.

Adjusted profit before tax was up 23% to £7.6 million versus H1 FY24 where it was £6.2 million, after net investment of £1.5m into marketing in the Republic of Ireland.

Expanded addressable market with 130 Cities now live and adjusted EBITDA was also up 19%, reflecting continuing improvement in margins and operational leverage.

Net debt was reduced by £18 million year on year, having also returned c.£30 million to shareholders via share buyback and dividends.

Though interim dividend of 1.0p per share declared in line with capital allocation policy (+11% vs H1 24).

Overall market seat supply remains strong heading into the summer with over 70 million seats from UK departure points to European destinations, including an additional 5% airline capacity to beach leisure destinations Year-on-Year and a further 3% to all European destinations.

Its upgraded technology platform is enabling enhanced differentiation of the product, with personalised perks now embedded in the mobile app, enhancing engagement and stickiness.  

Quarterly YTD booking momentum has been building, with volumes +7% in Q1, +15% in Q2, and currently +18% in Q3 to date.

Summer ’25 forward order TTV is currently +14%, and on an upward trajectory since the last trading update (+10% as at 25 Feb).

As a result of everything, another record year is expected with the Board confident in delivering FY25 profit in line with current consensus expectations (Adjusted PBT £38.2m).

The business is on track to deliver medium term ambition of £2.5bn TTV, £100m EBITDA and £85m PBT, as ATOL data from the latest CAA renewal cycle in March 2025 reports a 3% YOY increase in total licensed forecast passenger volumes across the market for the next 12 months.

Shaun Morton, chief executive of On the Beach Group plc, said: “I am very pleased to report another strong first half, in which the Group achieved TTV growth of 13% and revenue growth of 12% year on year. 

"This record interim performance was driven by increased passenger bookings and reflects the strength of the On the Beach holiday proposition.

“Ongoing investment in our proprietary technology platform has supported our ambition to improve our customers’ booking experience, enhance operational efficiency and to build scale. 

"Embedding perks into our app has resonated well with customers, while transformational development to our platform have facilitated our successful expansion into Ireland and City break packages, offers which are scaling rapidly and being enjoyed by both new and existing customers.

“Demand for holidays remains strong as our customers continue to prioritise travel, and we are proud to have increased the breadth and quality of our offer so that they can holiday better and more often. 

"This trend is reflected in our Summer ’25 forward order TTV which is currently 14% ahead of last year. Our trading momentum, coupled with the continued execution of our strategy, means we are well placed to deliver our biggest summer to date and remain on track with our medium term ambition.”