Christian Tour (BVB: TRIP), a major integrated tourism platform and the first Romanian tour operator listed on the Bucharest Stock Exchange, announced its results for the first half of 2026. According to the company press release, total revenues increased by 12% year-over-year to RON 184.7 million, while EBITDA advanced at a faster pace, by 24%, to RON 9.8 million, resulting in an EBITDA margin of 5.3%, compared with 4.8% for H1 2025. Net profit reached RON 6.3 million, up 15%.

“Despite inflationary pressure, geopolitical uncertainty and higher costs across the travel industry, we delivered record first-half booking sales, while EBITDA grew twice as fast as revenues,” said Cristian Pandel (in photo), Founder and CEO of Christian Tour.

Commercial performance remained strong despite a more challenging operating environment. Sales at booking date reached a record RON 460.1 million for the first half, increasing by 8% year-over-year, while average revenue per booking rose by 18% to EUR 505. 

The increase in average transaction value more than offset lower passenger and booking volumes, supported by the company’s ability to adapt its commercial mix toward higher-value travel categories, including organized circuits, exotic and long-haul destinations and specialized travel experiences.

Packages remained Christian Tour’s largest business segment in H1 2026, generating booking-date sales of RON 331.5 million, up 9% year-over-year, and representing approximately 72% of total booking-date sales. Groups & Experiences recorded the strongest organic growth, with booking-date sales increasing by 18% year-over-year to RON 72.8 million, supported by demand for organized circuits, exotic and long-haul destinations and other higher-value experiences. 

Flights, Bus & Accommodation remained broadly stable at RON 50.3 million, while Other segments decreased 44% to RON 5.5 million as the company continued to prioritize profitable growth in its core activities rather than pursuing volume in lower-margin categories.

Christian Tour generated RON 76.8 million in net cash from operating activities during H1 2026, reflecting the seasonal cash-flow dynamics of the business ahead of the peak summer travel period. 

Separately, the company’s financial position strengthened significantly following the IPO. As of June 30, 2026, Christian Tour had RON 182.6 million in cash and cash equivalents and no outstanding bank borrowings, resulting in a net cash position of approximately RON 143.7 million, compared with net debt of approximately RON 38.7 million at the end of 2025. 

At the same date, the company had RON 265.6 million in contract liabilities, largely representing customer advances for travel services yet to be delivered, providing visibility over activity and revenue recognition during the second half of the year.

Christian Tour also continued to advance the growth priorities presented during the IPO. In digitalization, the company continued to develop its digital ecosystem, with the flight module scheduled for launch in Q3 2026, while dynamic packaging capabilities, an AI-assisted Trip Builder and the Hello Romania domestic tourism platform are expected to enter testing during Q4 2026. In customer loyalty, Travel Prime reached approximately 2,000 active subscribers, with members generating approximately EUR 8.3 million in cumulative sales since joining the program.

Christian Tour’s performance in the first half of the year also reflects the continued resilience of Romanian demand for international travel despite pressure on household purchasing power. According to data published by the National Bank of Romania, Romanians spent EUR 4.88 billion on travel abroad during the first six months of 2026, approximately 18% more than in the same period of 2025. 

For the full year 2026, Christian Tour targets RON 1.042 billion in sales at booking date, RON 843.0 million in IFRS revenue, RON 46.3 million in EBITDA and RON 33.2 million in net profit.

radu@romania-insider.com

(Photo source: press release)