Slide 1: 1H FY15 Results Update
1H FY15 RESULTS UPDATE John Guscic Managing Director 0 19 February 2015 Half Year Results FY15 00
Slide 2: 1H FY15 Highlights
1H FY15 Highlights • Strong performance in core Webjet business 1H FY15 A$ million and B2B divisions drive record result - TTV up 22.2% TTV 620 - Revenue up 11.5% Revenue 58.2 - EBITDA up 17.3% - Underlying EBITDA up 41.3% (1) EBITDA 14.4 - PBT up 6.8% Underlying EBITDA (2) 15.4 - NPAT up 0.8% PBT 1
Slide 3: Financial results overview
Financial results overview Half Year Ended 1H FY15 1H FY14 Inc. / (Dec.) 31 December 2014 $m $m $m % • 1H FY15 reported EBITDA includes − $1.0m one off acquisition costs TTV 620 507 113 22.2% for SunHotels Revenue 58.2 52.2 6.0 11.5% Costs 43.7 39.9 3.9 9.8% − $0.7m start-up loss for EBITDA 14.4 12.
Slide 4: Segment summary
Segment summary 1H FY15 1H FY14 Inc. / (Dec.) TTV $m $m $m % • Group TTV up 22.2% - Aust & NZ 433 365 68 18.7% - Asia 64 88 (24) (26.8%) - Webjet / Zuji AU & Exclusives TTV up - B2B 123 24 99 408.2% 18.7% Continuing Operations 620 477 143 30.1% - USA 0 31 (31) n/a - Zuji Asia TTV down 26.8% Total TT
Slide 5: Double Digit Bookings Growth
Double Digit Bookings Growth No. of Bookings H1 FY11 H1 FY12 H1 FY13 H1 FY14 H1 FY15 Webjet Zuji LOH SunHotels • Bookings CAGR 20% (5-years) 4 • Organic growth (Webjet, LOH and Exclusives) CAGR 13% (5-years) • Webjet up 17% year-on-year • Zuji down 12% year-on-year Half Year Results FY15 4
Slide 6: Ongoing diversification of earnings streams
Ongoing diversification of earnings streams 1H FY15 $14.4m EBITDA 1H FY14 $12.3m EBITDA 1H FY13 $8.5m EBITDA 23% 45% 17% EBITDA EBITDA growth growth 77% B2C B2B B2C B2B 5 B2C B2B Half Year Results FY15 5
Slide 7: Revenue margin
Revenue margin Revenue / TTV margin 10.2% 9.4% 8.5% 7.4% 7.5% 1H 11 1H 12 1H 13 1H 14 1H 15 6 • 1H FY15 margin impacted by changing B2B vs B2C business mix and lower contribution from Zuji Asia • Compared to 1H FY14 - B2B margin – up - B2C Australia margin – unchanged - B2C Asia margin – down • Futu
Slide 8: Strong balance sheet
Strong balance sheet $m Dec-14 Jun-14 Change • Generated cash and equivalents of $13.5m • Cash balance includes $15.0m of client Cash 57.5 51.8 5.7 funds ($18.8m as at 30 June 2014) Other current assets 38.0 26.3 11.7 • Non-Current assets includes $29.6m goodwill and IP associated with SunHotels Non
Slide 9: Ongoing Investment
Ongoing Investment 1H 2H FY15 FY14 Increase B2C FY15 FY15 • Cloud $m $m $m $m $m % • Core TSA B2B 0.8 1.7 2.5 0.4 2.1 530% • Mobile • Robotics B2C 2.4 2.6 5.0 4.7 0.3 6% Total 3.2 4.4 7.5 5.1 2.4 47% B2B • SunHotels “HotelMaker” Global • CAPEX 1H FY15 $3.2m B2B platform - Increasing to $4.4m 2H FY15
Slide 10: Interim dividend 6.25 cents
Interim dividend 6.25 cents Cents paid – fully franked 7.25 7.0 7.0 5.5 6.0 3.5 6.0 6.0 6.25 6.25 5.0 5.0 9 3.0 FY09 FY10 FY11 FY12 FY13 FY14 FY15 Category Interim Final 9 Fully franked interim dividend of 6.25 cents Half Year Results FY15 9
Slide 11: B2C Travel
B2C TRAVEL Online travel for the consumer market Unsaved Document / 21/09/2012 / 14:14 Half Year Results FY15 10 10
Slide 12: Webjet Limited
WEBJET LIMITED B2C Travel B2B Travel Australia 11 New Zealand 11 Half Year Results FY15 11
Slide 13: Webjet: Strong growth in the core business
Webjet Strong growth in the core business • Each month YTD has reported record TTV for that respective month • TTV, revenue and underlying EBITDA all up more than 10% • Webjet bookings up 17% year-on-year • International bookings up 38% despite AUD/USD depreciation of 13% Intl. Bookings Year-on-Year
Slide 14: Webjet: Strong growth in the core business
Webjet Strong growth in the core business • Performance driven by − Broader consumer offerings providing greater choice − Website improvements providing better consumer experience − Enhanced ancillary offerings − New payment options − Improved onsite merchandising − New mobile sites and Apps − Targe
Slide 15: Webjet: Higher margin revenue streams also growing
Webjet Higher margin revenue streams also growing • Packages - Exclusives and dynamic packages continue to grow - TTV annualised run rate $36m (up 71% since December 2013) • Other - Delivered Cruise in 1H FY15 - Travel insurance and car hire growing at more than 30% • Hotels - TTV annualised run rat
Slide 16: Webjet: Remains #1 OTA brand in Australia
Webjet Remains #1 OTA brand in Australia 15 Source: Hitwise Experian. Data shows number of visitors. Feb15 data through to 16/2/15. Half Year Results FY15 15
Slide 17: Webjet: Continuing improvements in Service Excellence
Webjet Continuing improvements in Service Excellence 16 Source: Customer surveys Half Year Results FY15 16
Slide 18: New Apps launched
Webjet New Apps launched • New IOS and Android app launched with strong, positive feedback 17 Feedback source: Google Play store Half Year Results FY15 17
Slide 19: Webjet Limited
WEBJET LIMITED B2C Travel B2B Travel Australia 18 Singapore Hong Kong 18 Half Year Results FY15 18
Slide 20: ZUJI: Difficult market conditions in Asia
ZUJI Difficult market conditions in Asia • Asian operations remain under pressure - TTV down 26.8% - Sales and margin pressures resulted in reported loss of $0.6m for 1H FY15 - TTV growth has resumed in both Singapore and Hong Kong markets with double digit growth starting in December and continuing
Slide 21: ZUJI: TTV growth now coming through in all markets
ZUJI TTV growth now coming through in all markets Hong Kong Singapore Australia 1H FY15 • TTV >10% growth • TTV >10% growth • TTV continues to since December since October 2014 grow at more than 2014 • Initiated LCC content 30% • Umbrella movement with Tiger Airways • Better positioning of over but
Slide 22: ZUJI: Focus on Service Excellence
ZUJI Focus on Service Excellence delivering dramatic results 21 Source: Customer surveys Half Year Results FY15 21
Slide 23: B2B: Providing hotel rooms to partners via the online channel
B2B Providing hotel rooms to partners via the online channel Unsaved Document / 21/09/2012 / 14:14 Half Year Results FY15 22 22
Slide 24: Webjet Limited
WEBJET LIMITED B2C Travel B2B Travel Middle East 23 Africa Half Year Results FY15 23
Slide 25: LOH: Continuing to grow in line with expectations
LOH Continuing to grow in line with expectations • #3 market player in Middle East/African 1H FY14 2H FY14 1H FY15 market − Operating in 27 markets TTV $24m $32m $46m • Growth continues in line with expectations Growth 33% 43% − Annualised TTV run rate $95m TTV Margin 6.0% 6.8% 8.7% − TTV margin con
Slide 26: SunHotels: Successful integration and pursuing growth
SunHotels Successful integration and pursuing growth • Better than expected EBITDA result driven by margin improvement 1H FY15 A$M • #1 market player in Sweden and Norway TTV $130m annualised run rate and Top 10 in UK TTV margin 10% (1) • Acquisition completed 25 September 2014; effective from 1 Jul
Slide 27: SunHotels: 2H FY15 expected to be lower than 1H FY15
SunHotels 2H FY15 expected to be lower than 1H FY15 • Seasonal impact of SunHotels business − July and August are peak travel months for European Leisure travellers • Expected cost increases in 2H FY15 as we establish our sales organizations in 3-4 key new markets − Positive EBITDA contribution expe
Slide 28: OTCQX International
OTCQX International New market opportunities • Increase liquidity through OTCQX global share structure • OTCQX listing effective February 2015 – US symbol WEBJF • Provides direct market access to US investors - opportunity to trade in US markets without becoming a US reporting company • Provides new
Slide 29: FY15 - Geared for Growth
FY15 - Geared for Growth B2C • Webjet core business is currently growing at more than 30% in 2H FY15 • Zuji Asia, while under continuing margin pressure returned to profit B2B • LOH is currently growing at more than 50% in 2H FY15 • SunHotels is performing to plan and is investing for market expansi
Slide 30: FY15 Guidance confirmed
FY15 Guidance confirmed On track to achieve FY15 EBITDA of $27 million −After expensing $1 million costs associated with acquisition of SunHotels 29 Half Year Results FY15 29
Slide 31: Half Year Results FY15
30 Half Year Results FY15 30