16 slides from Flight Centre Travel's shareholder meeting presentation, Oct 28, 2010
Slide 1: Flight Centre Limited 2010 Annual General Meeting
For personal use only Flight Centre Limited 2010 Annual General Meeting O b 28, October 28 2010 Address by Peter Morahan – chairman Graham Turner – managing director 1
Slide 2: 2010 – an overview
2010 – an overview For personal use only Strong performance – actual PBT and NPAT up 392% and 267% respectively PROFIT Profit has increased year-on-year in 13 of FLT’s 15 years as a public company Ticket sales at record levels SALES TTV would have been up 5% if international results translated at sa
Slide 3: 2010 – financial highlights
2010 – financial highlights For personal use only BALANCE General cash doubled to $322m –stronger positive net debt position $144m SHEET Moderate debt – year-on-year movement reflects increased BOS participation and India STRENGTH CASH Strong operating cash flow – $243m inflow over full year FLOW Ca
Slide 4: 2010 results
2010 results For personal use only RESULTS IN BRIEF FULL YEAR RESULTS JUNE 2010 JUNE 2009 Variance % $’ million TTV $11,019 m $11,242 m (2.0)% Gross Profit $1,553 m $1,527 m 1.7% EBITDA $257 3 m $257.3 $86 3 m $86.3 198 1% 198.1% EBIT $203.5 m $26.6 m 665.0% Profit Before Tax (actual) $198.5 m $40.4
Slide 5: Five-year result summary
Five-year result summary For personal use only JUNE 2010 JUNE 2009 JUNE 2008 JUNE 2007 JUNE 2006 (restated) (ex abnormal) TTV $11,019 m $11,242 m $10,880 m $8,880 m $7,810 m Income margin 14.1% 13.6% 13.3% 13.0% 12.9% EBITDA $257.3m $86.3 m $231.4 m $175.0 m $147.6 m PBT $198 5 m $198.5 $40 4 m $40.
Slide 6: FLT's historical NPAT
FLT’s historical NPAT For personal use only 160 140 120 100 Millions s 80 60 40 20 - 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 Financial Year 6
Slide 7: The web – further growth prospects
The web – further growth prospects For personal use only ENQUIRY Ongoing development of retail brands’ websites GENERATION Improved functionality and travel information to generate enquiry for shops Web-only brands generating enquiry that is serviced online or via the phone DIRECT MODEL p roundthewo
Slide 8: Diversity – 13000 people, 11 countries
Diversity – 13000 people,11 countries For personal use only SINGAPORE 8 businesses at June 30 CANADA GREATER CHINA 183 businesses UNITED KINGDOM at June 30 20 businesses 214 businesses at June 30 at June 30 USA 231 businesses at June 30 AUSTRALIA 1069 businesses at June 30 SOUTH AFRICA 157 businesse
Slide 9: Diversity – more than brands
Diversity – more than 30 brands For personal use only Leisure Wholesale Joint Ventures Flight Centre Infinity Intrepid Retail Liberty Travel Explore Employment Office Escape Travel GoGo Worldwide Holidays 99 Bikes Student Flights Escape Holidays Advance Traders Australia Travel Associates Ticket Cen
Slide 10: 2011 – Outlook
2011 – Outlook For personal use only FIRST Record p profit for the period p – up p 15% on previous p best (2008/09) ( ) QUARTER Stronger growth achieved in comparison to relatively weak PCP Currently performing in line with budgetary expectations OUTLOOK On track to achieve guidance of $220m-$240m P
Slide 11: Falling airfare prices – 2010 v 2008
Falling airfare prices – 2010 v 2008 For personal use only DECREASE IN ADVERTISED INTERNATIONAL AIRFARES FROM BRISBANE OCTOBER 2008 v OCTOBER 2010 VANCOUVER – (26)% LONDON – (7.5)% (7 5)% PARIS – (24)% LA – (49)% NEW YORK – (36)% HONG KONG – (32.5)% DELHI – (20)% HAWAII – (32)% BANGKOK – (35)% SINGA
Slide 12: 2011 – growth opportunities
2011 – growth opportunities For personal use only Shop and business growth returning to normal TTV Expected to stimulate top line sales AIRFARE International airfare prices likely to increase modestly if economic recovery continues YIELDS CORPORATE Recovery in corporate market lagged leisure market
Slide 13: 2011 – strategic priorities
2011 – strategic priorities For personal use only LEADERSHIP Attracting and retaining the right leaders in the right numbers Sourcing and manufacturing unique land and air product for FLT customers PRODUCT ONE BEST WAY Using FLT’s one best way concept in all major areas, such as brand guides and cus
Slide 14: End of presentation – Questions
End of presentation For personal use only Questions 14
Slide 15: Appendix 1: Additional Segment Information (Unaudited)
Appendix 1: Additional Segment Information (Unaudited) Financial Year 2010 (A$m) For personal use only Other Group Australia UK USA Rest of World Segment(2) TTV $11,019 $6,407 $991 $1,662 $1,867 $92 Gross Profit (1) $1,563 $863 $142 $208 $263 $87 Statutory EBITDA $257 $192 $24 $4 $33 $4 Deprec’n & (
Slide 16: Appendix 2: Additional Segment Information (Unaudited)
Appendix 2: Additional Segment Information (Unaudited) Half Year 2010 (A$m) For personal use only Group Australia UK USA Rest of World Other Segments TTV $5,201 $2,978 $482 $873 $838 $30 Gross Profit (1) $722 $409 $69 $99 $116 $29 Statutory EBITDA $101 $90 $9 ($5) $8 ($1) Deprec’n & ($27) ($12) ($2)