Flix – the parent company of FlixBus – has reported significant growth for 2023, passing €2 billion in global revenue for the first time, according to preliminary financial results.
Through the FlixBus, FlixTrain, Greyhound and Kamil Koc brands, the scheduled coach and rail operator increased its annual passenger count to 81 million – a 34% year-on-year increase.
Total revenue growth was 34% on average, although its operations in Europe grew income by 46% versus 2022.
Flix increased adjusted earnings before interest, taxes, depreciation, and amortisation to €104 million – a year-on-year increase of €97 million.
André Schwämmlein, Co-Founder and CEO of Flix, says: “Our strong annual results show that we have the right strategy in place, which we have been executing over the last 11 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.”
Europe, where Flix began in 2013, accounts for nearly €1.2 billion of the total revenue. Passenger numbers there grew to 55 million, an increase of 41%.
Its Greyhound service in USA, Canada and Mexico enjoyed 11% revenue growth to €615. Meanwhile, Kamil Koc in Turkey added 15% to revenue at €189 million.
Flix expanded in Chile in October 2023, having already been in operation in Brazil.
More recently, it launched in India, which is the world’s largest country and has the second largest bus market. The business makes 200 connections to 46 cities daily, with more in the pipeline, Flix says.
Last week FlixBus in the UK launched a three-month trial of a battery-electric coach on a service between London, Bristol and Newport. Run in collaboration with Newport Transport, it will begin operation on 21 March.
