Flix achieves €2bn revenue milestone

Global travel tech company, Flix SE, has for the first time reached €2billion (£1.71billion) in annual total revenue.

In its preliminary financial results for 2023, the FlixBus parent company reports a 30% total revenue growth in 2023. The company has consequently delivered ahead of its guidance for growth of more than 25%.

Last year, 81 million passengers travelled to over 5,600 destinations with FlixBus, FlixTrain, Greyhound and Kamil Koc, representing a growth of 34% compared to 2022.

Furthermore, Flix achieved an Adjusted EBITDA of €104million (£89.07million), representing an increase of €97million (£83.07 million) compared to 2022. This equates to an adjusted EBITDA margin of 5.2%.

In Europe, Flix achieved total revenue growth of 46% to €1,186million (£1,016 million). This development in Flix’s most mature segment has been driven by an exceptionally strong increase in passenger numbers to 55 million, reflecting an increase of 41% compared to 2022. In 2023, Flix launched operations in Finland and Greece.

“Based on our tech foundation, we want to strengthen our position as a global leader, driving sustainable and affordable travel for everyone” – André Schwämmlein, Co-Founder and CEO of Flix

André Schwämmlein, Co-Founder and CEO of Flix, said: “Our strong annual results show that we have the right strategy in place, which we have been executing over the last eleven years.

“Last year’s performance reinforces Flix’s success story as a leading global travel tech company. Based on our tech foundation, we want to strengthen our position as a global leader, driving sustainable and affordable travel for everyone.”

Flix continues to expand globally. It launched in Chile in October 2023 and in India earlier this month (February 2024).