Slide 1: Half Year Results FY14
For personal use only HALF YEAR RESULTS FY14 John Guscic Managing Director 13 February 2014 0
Slide 2: Highlights
Highlights • Revenue up 64% to $52.2m For personal use only • Increase in margins: TTV margin up 23% to 10.3% − Improved operating terms − Evolving business mix • Reported EBITDA up 45% to $12.3m; 21.5% above Normalised FY13 • NPAT growth of 60% to $9.1m, 24% higher than Normalised FY13. − Utilisati
Slide 3: Result summary
Result summary Half Year Ended 31 December Reported Normalised For personal use only $m FY14 FY13 FY14 FY13 (1) TTV 507 380 33.4% 507 380 33.4% Revenue 52.2 31.8 63.9% 52.2 31.8 63.9% Costs 39.9 23.3 70.8% 39.9 21.7 76.1% EBITDA 12.3 8.5 45.0% 12.3 10.1 21.5% Depreciation and Amortisation (1.4) (0.6
Slide 4: Accelerating growth in revenue margin
Accelerating growth in revenue margin For personal use only Revenue / TTV margin 10.3% 8.6% 7.1% 7.3% 7.4% 7.4% 7.5% FY08 FY09 FY10 FY11 FY12 FY13 H1 FY14 Half Year Results FY14 3
Slide 5: Continued growth in EPS
Continued growth in EPS For personal use only Normalised EPS (cents) 11.6 10.3 8.2 6.9 6.6 4.9 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Normalised EPS (cents) (1 ) 1. Result adjusted for the impact of one-off costs: Start-up costs for Lots of Hotels business of $1.1m, Zuji acquisition costs of $0.5
Slide 6: Dividends
Dividends For personal use only Cents paid – fully franked 7.0 7.0 5.5 6.0 3.5 3.0 6.0 6.0 6.25 5.0 5.0 3.0 2.0 FY08 FY09 FY10 FY11 FY12 FY13 FY14 Category Interim Final • Interim dividend increased to 6.25 cents Half Year Results FY14 5
Slide 7: Strong balance sheet
Strong balance sheet For personal use only $m Dec-13 Jun-13 Change Cash 45.4 66.8 (21.4) Other current assets 18.6 22.0 (3.4) Non-current assets 48.3 45.4 2.9 Total Assets 112.3 134.2 (21.9) Liabilities 47.6 73.5 (25.9) Equity 64.7 60.7 4.0 • Zuji integrated and terms of trade aligned • Debt free •
Slide 8: For personal use only
For personal use only Half Year Results FY14 7
Slide 9: Air
Unsaved Document / 21/09/2012 / 14:14 For personal use only AIR Full Year Results 2012/13 8
Slide 10: Webjet and Zuji: number one air OTAs
For personal use only WEBJET- NO 1 OTA – AIR(1) Australia & New Zealand ZUJI - NO 1 OTA – AIR (2,3) Singapore & Hong Kong (1) Number 1 AIR OTA in AU/NZ as determined by Hitwise. (2) SG: Aggregated internet metrics 2013 (3) HK: Aggregated internet metrics 2013 9 Half Year Results FY14 9
Slide 11: Air
Air For personal use only • Delivered profitable growth through improved margins • Enhanced targeted digital marketing to maximise ROI • Grown share of visits H1 FY14 Source is Htiwise.com.au 10 Half Year Results FY14 10
Slide 12: Webjet leads brand awareness amongst OTAs
Webjet leads brand awareness amongst OTA’s For personal use only Source: Hitwise upstream search terms . Half Year Results FY14 11
Slide 13: Non-Air
Unsaved Document / 21/09/2012 / 14:14 For personal use only NON - AIR Full Year Results 2012/13 12
Slide 14: Organic Packages Growth
Organic Packages Growth For personal use only $21m Run Rate 13 Half Year Results FY14 13
Slide 15: Lots Of Hotels
Lots Of Hotels For personal use only • Lots of Hotels − Online B2B hotels business − Now in 18 markets across Middle East, North Africa, Southern Europe − Plan to launch into 30 markets by December 2014 − Proven and experienced management team − Currently on a $65m+ annualised TTV run rate − Margin
Slide 16: Technology: Investing in the future of travel
For personal use only TECHNOLOGY INVESTING IN THE FUTURE OF TRAVEL Unsaved Document / 21/09/2012 / 14:14 Full Year Results 2012/13 15
Slide 17: Growing from firm foundations
Growing from firm foundations For personal use only • Completed transition of ZUJI online presence to Webjet Cloud Services platform in all markets Leverage device • Increased payment options for customers distribution through new payment platform • Devised tools to provide more air content Scale gl
Slide 18: Competitive threats quote slide
“COWARDS DIE MANY TIMES BEFORE THEIR DEATHS THE VALIANT NEVER TASTE OF DEATH BUT ONCE” For personal use only - Shakespeare, Julius Caesar Act II BOOKING FEES AIRLINES METASEARCH GOOGLE FLIGHTS AMERICAN OTA COMPETITORS Half Year Results FY14 17
Slide 19: The myth of modern man - Webjet vs Expedia visitation
The myth of modern man – Part 1 For personal use only Webjet vs. Expedia Total Visitation YOY 60,000,000 50,000,000 40,000,000 30,000,000 20,000,000 10,000,000 - 2011 2012 2013 Expedia Australia Webjet Australia Half Year Results FY14 18
Slide 20: The myth of modern man - Booking.com and hotels
The myth of modern man – Part 2 For personal use only Booking.com DOES NOT sell air Since 2011 Webjet has grown hotels: From $2m annually to $57m in first half of 2014 A run rate of $120 million a year, a 60 fold increase over just three years Webjet sells hotels via: • B2C through Webjet
Slide 21: Webjet Exclusives
Webjet Exclusives For personal use only • New product offering • Exceptional short term fixed price travel deal • Seasoned travel executive Paul Ryan • Ex Flight Centre, Scoopon • Launching in Q4 2014 Half Year Results FY14 20
Slide 22: For personal use only
For personal use only Half Year Results FY14 21