Slide 1: Webjet Limited Managing Director AGM Update
Webjet Limited Managing Director AGM Update.
Slide 2: FY19 TTV up 54%
$ 3 BN $ 3 BN $ 3 BN TTV TTV (2) TTV Up 54% Up 54% Up 54% $ 3 BN $ 3 BN TTV 3 (before AA ) TTV (4) 1) Shows results for FY19 Continuing Operations - Up 54% Up 54% refer to Appendix for full description 2) Excludes Revenue as Principal 3) Acquisition Amortisation 4) Refer to page 28 of FY19 Investor
Slide 3: EBITDA by business FY17-FY19
$160M $124.6M $140M $120M $87.4M $67.3M $100M $27.2M $80M $51.0M $0.4M $13.3M $12.5M $60M $15.0M $40M $58.7M $60.8M $20M $43.1M $0M ($7.5M) ($11.7M) ($15.9M) ($20M) FY17 FY18 FY19 1) EBITDA is for Continuing Operations - refer to WEB Online Republic WebBeds B2B Corporate Appendix for full descriptio
Slide 4: WebBeds FY19 results
A$ FY19 FY18 Change Bookings ('000s) 3,444 2,277 51% TTV 2,154 million 1,354 million 59% Revenue (1) 184.5 million 114.0 million 62% EBITDA 67.3 million 27.2 million 148% TTV / Revenue Margin (2) 8.6% 8.4% 15bps TTV / Revenue Margin (excl TC) 9.4% 9.2% 23bps EBITDA Margin 36.4% 23.8% 1
Slide 5: Impact of Thomas Cook entering Compulsory Liquidation
Webteds Impact of Thomas Cook entering Compulsory Liquidation Thomas Cook * On 23 September 2019, Thomas Cook, a customer of our WebBeds business, entered Collapse. compulsory liquidation * As at 23 September 2019, Thomas Cook owed Webjet Limited approximately EUR 27 million in outstanding receivabl
Slide 6: Webjet OTA FY19 results
A$ FY19 FY18 Change Bookings ('000s) 1,565 1,549 1% TTV 1,378 million 1,345 million 2% Revenue 150.5 million 145.6 million 3% EBITDA 60.8 million 58.7 million 4% TTV / Revenue Margin 10.9% 10.8% 10bps EBITDA Margin 40.4% 40.3% 5bps • 2H19 travel market significantly impacted by the Feder
Slide 7: Online Republic FY19 results
A$ FY19 FY18 Change Bookings ('000s) 496 501 1% TTV 299 million 313 million 4% Revenue 31.4 million 31.5 million 0% EBITDA 12.5 million 13.3 million 6% TTV / Revenue Margin 10.5% 10.1% 41bps EBITDA Margin 40.0% 42.1% 217bps • Improved TTV margins reflect strategy to focus on higher margi
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Slide 9: WebBeds is a leading global industry player
Webseds WebBeds is a leading global industry player and we expect it to continue to outperform Bedbanks are an important part of the global travel market. WebBeds provides a critical distribution channel for our hotel supply partners and booking enabler customers Travel is resilient - Trade wars, na
Slide 10: Bedbanks provide a global B2B marketplace
om, Bedbanks provide a global B2B marketplace Webseds thatconnectsellersto buyers. Whatis a WebBeds connect sellers with buyers Bedbank? e é A complex Casali EOS pila Booking Enablers Travellers lobal Ein —_— od g gmosoy of, Ae >) | Traditional Channels ecosystem sate, Mion [a How dol «Retail Travel
Slide 11: 80% independent hotels
• • 20% • 80% • • • • 80% Independent hotels (1) • • 20% Part of a chain (1) Source: STR Global and Company estimates based on all hotels offering rooms for sale. -STR Global data only counts properties with more than 10 rooms https://str.com/ -Company estimates include properties with less than 10
Slide 12: We provide a critical distribution channel
Webseds We provide a critical distribution channel. Why booking enablers work with bedbanks. The global B2B accommodation market is huge and highly fragmented - worth more than US$50 billion in TTV. Bedbanks customer pool: Any business that offers their customers the ability to make accommodation bo
Slide 13: Latest example: China
Latest example: China 84 • 82 80 • 78 76 74 72 70 68 66 Million Trips 2018 1H 2019 1H Data: Ministry of Culture and Tourism of China 13
Slide 14: * Source: Euromonitor International
• • * Source: Euromonitor International 14
Slide 15: FY20
FY20 Webjet Limited
Slide 16: WebBeds FY20 outlook
• • • • • • • • (1) Excludes Thomas Cook prior and current year contribution (2) 8% revenue/TTV and 4% costs/TTV to drive 4% EBITDA/TTV 16
Slide 17: webjet.com.au B2C Market Update - Webjet OTA
webjet.com.au B2C Market Update - Webjet OTA Flight market The flight market continues to be challenging challenging . FY20 YTD continues to be a challenging travel market with the overall flight market growing at around 1% over pcp but we expect - Domestic flight market is down, driven by reduced c
Slide 18: B2C Market Update - Online Republic
SME RERvE THAW B2C Market Update - Online Republic Ongoing strategy to increase TTV margins and we expect FY20 EBITDA to be in line with FY19. We expect Online Republic FY20 EBITDA to be in line with FY19 We continue to focus on our strategy to increase TTV margins and reduce acquisition costs We ha
Slide 19: FY20 underlying EBITDA guidance
• ‒ ‒ • • ‒ ‒ ‒ • • ‒ 1) FY20 underlying EBITDA guidance range is $162- ‒ $172 million following application of AASB 16 Leases • 2) Underlying EBITDA excludes one off revenues and costs 3) Based on Statutory EBITDA 19
Slide 20: Webjet Limited
a ’ Webjet Limited Pe :
Slide 21: Webjet Limited
Webjet Limited
Slide 22: Cash flow direct method presentation
In the FY19 financial statements, we moved from a Net cash flows from operating activities (using direct method) 1 direct method to indirect method with respect to presentation of the cashflow statement. Both indirect and direct methods are accepted under International and Australian accounting stan
Slide 23: FY19 and FY18 EBITDA adjustment notes
• FY19 includes 7 months of DOTW, acquisition • FY19 excludes acquisition and integration and integration costs ($15.2M), reduction in costs ($15.2M), reduction in earnout liability earnout liability ($18.5M) and debt ($18.5M) and debt establishment costs of establishment costs of $0.5M associated $