In a notable announcement that underscores its escalating influence within the global travel industry, Flix SE disclosed its preliminary financial outcomes for the year 2023, revealing a ground-breaking total revenue of EUR 2 billion. This milestone not only exemplifies a 30% year-on-year growth but also propels the company well beyond its initial growth forecast of over 25%.
Flix SE, celebrated for revolutionising the travel tech sector through its portfolio of services including FlixBus, FlixTrain, Greyhound, and Kamil Koc, has not only expanded its global footprint but has also demonstrated an impressive profitability trajectory. The company's Adjusted EBITDA soared to EUR 104 million, a substantial uplift of EUR 97 million from 2022, reflecting an Adjusted EBITDA margin of 5.2%.
André Schwämmlein, Co-Founder and CEO of Flix, attributed this exceptional performance to the company's strategic focus and execution over the past eleven years. Schwämmlein's vision for Flix as a global leader in sustainable and affordable travel is increasingly becoming a reality, supported by a robust tech foundation and a relentless drive for innovation.
The year 2023 witnessed Flix achieving notable operational and financial growth across its diverse segments. In Europe, Flix's revenue surged by 46% to EUR 1,186 million, propelled by a 41% increase in passenger numbers to 55 million. The expansion into Finland and Greece further solidified Flix's presence in the European market, offering broader access to its services.
In North America, following the complete integration of Greyhound into Flix's booking platform, the company saw a 36% increase in travelers and an 11% rise in total revenue to EUR 615 million. This seamless booking experience has facilitated an expansive intercity bus network across the USA, Canada, and Mexico.
The Turkish market also showed robust growth, with a 15% increase in revenue to EUR 189 million and an 8% rise in passenger numbers to 14 million. Flix's strategic expansions were not limited to established markets; the company made significant inroads into Latin America with the launch of services in Chile and expanded its network in Brazil. The entry into the Indian market in early February 2024 marked a significant step into the world's second-largest bus market, promising further growth and outreach.
Also Read