Web Travel Group Limited · ASX:WEB
Web Travel — Investor Presentation (May 2024)
28 slides from Web Travel's investor presentation, May 22, 2024
Slide 1: FY24 Results
Investor Presentation FY24 Results. 22 May 2024 1
Slide 2: Table of contents
Table of contents. Welcome to our FY24 Results Presentation. For ease of use, each section has a link back to this page on the top or bottom right corner of the page. Group Performance - Key Metrics Business Unit Updates WebBeds Webjet OTA GoSee Financial Summary FY25 Outlook 2
Slide 3: FY24 - Key Metrics
FY24 - Key Metrics. All metrics at Bookings TTV Revenue EBITDA record levels, materially 8.7 $5.6 $471.5 $188.1 million billion million million ahead of both FY23 and pre-pandemic. Note: • Unless otherwise stated, in this document all financials are for Underlying Operations and all comparisons are
Slide 4: FY24 - Highlights
FY24 - Highlights. Strategy EBITDA EBITDA delivering $162.4m $54.2m outperformance. 39% on FY23 25% on FY23 27% based on functional currency All key metrics at record levels, significantly ahead of FY23 Strong growth over FY23 on all key metrics; with and pre-pandemic levels; $4 billion TTV. signifi
Slide 5: WebBeds
Travel Brands Update WebBeds. A global B2B travel marketplace servicing the travel trade. 5
Slide 6: FY24 - WebBeds Key Metrics
FY24 - WebBeds Key Metrics. All metrics at Bookings TTV Revenue EBITDA record levels significantly 7.0 $4.0 $327.9 $162.4 million billion million million ahead of FY23. Note: • Based on functional currency (EUR) FY24 TTV was up 30% on FY23, Revenue was up 27% and EBITDA was up 27%. Driven by acceler
Slide 7: FY24 - WebBeds
FY24 - WebBeds. $4 Billion TTV, WebBeds 1H24 2H24 FY24 1H23 2H23 FY23 Change EBITDA up 39% Bookings ('000s) 3,485 3,536 7,021 2,654 2,936 5,590 26% on FY23. Average Booking Value $596 $542 $569 $536 $475 $504 13% TTV $2,078m $1,916m $3,994m $1,423m $1,395m $2,818m 42% Revenue $171.8m $156.1m $
Slide 8: WebBeds is now a truly global business
WebBeds is now a truly global business. Global WebBeds is fundamentally different to what Bookings Split – FY23 vs FY24 it was pre-pandemic: diversification towards a • APAC - strong growth in key markets of China, India and South Korea balanced • Americas - new client wins and market share portfoli
Slide 9: Our Pillars of Growth
Our Pillars of Growth. Three areas of focus to ensure continued growth towards FY30. 01 02 03 Growing Our New Customers, Conversion Existing Portfolio Supply & Markets • Nurturing & growing our • New customer pipeline • Continue current efforts existing portfolio of travel buyers, hotel partners & •
Slide 10: We are on the way...
We are on the way… On our journey towards delivering A$10bn TTV c.50% in FY30. $10bn TARGET TTV EBITDA margins Coming soon... FY30 $10BN TTV FY25 $5BN TTV On track to deliver A$5bn TTV in FY25 up c.25% on FY24. 10
Slide 11: Webjet OTA
Travel Brands Update Webjet OTA. The #1 online travel agent in Australia & New Zealand. 11
Slide 12: FY24 - Webjet OTA Key Metrics
FY24 - Webjet OTA Key Metrics. Strong growth Bookings TTV Revenue EBITDA over FY23 as international 1.3 $1.4 $121.2 $54.2 million billion million million capacity returns. Driven by growth in Average Booking Values Focus on higher margin revenue World class international reflecting international pri
Slide 13: FY24 - Webjet OTA
FY24 - Webjet OTA. EBITDA up 25% Webjet OTA 1H24 2H24 FY24 1H23 2H23 FY23 Change on FY23, Bookings ('000s) Average Booking Value 692 $1,035 650 $1,022 1,342 $1,028 641 $957 632 $1,094 1,273 $1,025 5% 0% EBITDA margins TTV $716m $664m $1,380m $614m $691m $1,305m 6% at record levels. Revenue $61
Slide 14: Significant market share gains
Significant market share gains. Total market International share 33% higher than pre-pandemic Webjet OTA Average Market Share share up 46% • International market share increased 14% over FY23 reflecting capacity returning to market and focus on Across GDS Bookings – Australia Travel Agency Offline &
Slide 15: GoSee
Travel Brands Update GoSee. A global motorhome & car rental ecommerce site 15
Slide 16: FY24 - GoSee
FY24 - GoSee. Improvement GoSee 1H24 2H24 FY24 1H23 2H23 FY23 Change over FY23 but Bookings ('000s) Average Booking Value 156 $668 144 $743 300 $703 136 $776 142 $824 278 $800 8% 12% Motorhomes TTV $104m $107m $211m $105m $117m $222m 5% impacting Revenue $11.1m $10.5m $21.6m $9.5m $10.0m $19.5
Slide 17: FY24 Financial Summary
Group Update FY24 Financial Summary. 17
Slide 18: FY24 - Financial Summary
FY24 - Financial Summary. Statutory Result Underlying Operations (1) Underlying NPAT Webjet Limited Group FY24 FY23 FY24 FY23 up 84%. Revenue (2) $471.5m $364.4m $471.5m $364.4m Expenses (3) ($283.4m) ($229.6m) ($283.4m) ($229.6m) Share Based Payment Expense ($6.7m) ($7.6m) - - Non-operating gains /
Slide 19: FY24 - Cash position
FY24 - Cash position. Cash generation FY24 $116 of $139 million. Positive average monthly cash flow Cash up on March 2023 AUD millions 31 Mar 2023 Foreign Currency Working Capital Earnings/CAPEX/ Cash & Finance and Investing 31 March 2024 Opening cash Translation Movement Interest/Tax Cash Equivalen
Slide 20: FY24 - Corporate costs & non-operating
FY24 - Corporate costs & non-operating. Corporate costs Corporate 1H24 2H24 FY24 1H23 2H23 FY23 Change reflect increased B2B EBITDA $89.9m $72.5m $162.4m $63.7m $53.4m $117.1m 39% B2C EBITDA $27.7m $28.2m $55.9m $22.0m $23.0m $45.0m 24% compliance costs Technology Investments ($2.2m) ($1.0m) ($3
Slide 21: FY24 - Balance Sheet
FY24 - Balance Sheet. Strengthening Cash and Cash Equivalents A$m Mar-24 Mar-23 • Cash increase primarily from trading profit and nominal working the Balance Sheet Cash & cash equivalents (1) 630.1 513.9 capital benefit while also undertaking $33 million of capital management initiatives as growth T
Slide 22: FY24 - Cash Flow
FY24 - Cash Flow. Significant Cash from Operations A$m FY24 FY23 • Earnings growth the key driver of cash generation cash generation Statutory EBITDA (1) 190.9 115.0 • Continued discipline on collections whilst payable days declined due to supplier mix driven by earnings Change in working capital &
Slide 23: FY24 - CAPEX Summary
FY24 - CAPEX Summary. Focused investment in technology and property providing foundations for growth. FY24 CAPEX. FY25 CAPEX. • FY24 spend higher than c. $40 million guidance at 1H24 due to • Expected to grow in line with inflation fast-track investment in B2B POS solution • B2B investing in operati
Slide 24: FY25 Outlook
Group Update FY25 Outlook. 24
Slide 25: On track to deliver significant growth for FY25
“On track to deliver significant growth for FY25.” As at 19 May 2024, As at 19 May 2024, Bookings and TTV* are both Bookings are flat, TTV is down up c. 35% and EBITDA c.5% and EBITDA is tracking significantly ahead ahead of the same period last year of the same period last year * Based on constant
Slide 26: We are exploring a separation of WebBeds and Webjet B2C
We are exploring a separation of WebBeds and Webjet B2C (which includes Webjet OTA, GoSee and Trip Ninja) via a demerger. • If pursued and completed, the demerger will create two standalone ASX listed companies with leadership positions in their respective industries and with their own distinct oper
Slide 27: Thank you
A further trading update will be provided at the AGM on 29 August 2024. All event information can be found on the Calendar page of our Investor Centre website Thank you. 27
Slide 28: Glossary & abbreviations
Glossary & abbreviations. CY19 12 months ending 31 December 2019 (i.e., pre-pandemic) - unaudited 1H23 6 months ending 30 September 2022 1H24 6 months ending 30 September 2023 2H23 6 months ending 31 March 2023 2H24 6 months ending 31 March 2024 FY23 12 months ending 31 March 2023 FY24 12 months end