Flight Centre Travel Group Limited · ASX:FLT
Flight Centre Travel — Shareholder Meeting (November 2022)
26 slides from Flight Centre Travel's shareholder meeting presentation, Nov 14, 2022
Slide 1: FLT: FY22 Annual General Meeting
FLT: FY22 Annual General Meeting November 14, 2022 This announcement has been authorised by the board of FLT. 1 FY22 H1 – FCTG Presentation
Slide 2: Acknowledgement of Country
Acknowledgement of Country We acknowledge the Traditional Owners of our Country throughout Australia and recognise their ongoing connection to lands, waters and communities. We pay our respects to Aboriginal and Torres Strait Islander Elders past, present and future, and support the continuation of
Slide 3: Today's Agenda
Today’s Agenda Chairman’s Address MD’s Address 1 by Gary Smith 2 by Graham “Skroo” Turner 3 Resolutions 4 General Questions 3 FY22 FY22 H1 – FCTG - FCTG Presentation Annual General Meeting
Slide 4: Chairman's Address
Chairman’s Address By Gary Smith 4 FY22 – FCTGFull FY22H1- FCTG Presentation Year Results Presentation
Slide 5: FY22: Highlights
FY22: Highlights Positive Early Steps on Path to Recovery – Targeted Return to Profitability Timeframes Achieved ✓ Bottom-line result better than initially expected & well within upgraded range • $183.1m underlying EBITDA loss ($180m-$190m FY22 target in place) • Breakeven 2H result with solid 4Q pr
Slide 6: FY22: Highlights
FY22: Highlights Achieving Strategic Objectives – Ready For Growth ✓ Corporate business out-performing - winning organically & growing market-share • High customer retention rates + new account wins with circa $2.5b in annual spends secured during FY22 • Outpacing industry recovery across all key sa
Slide 7: FY22: M&A
FY22: M&A Other strategic acquisitions/expansion to complement organic growth FCM Japan 1 Corporate travel joint venture in the world’s fourth largest business travel market. Link Travel Group 2 JV start-up launched in Australia as buying group focused on premium and corporate travel Shep 3 Browser
Slide 8: FY23: Upside opportunities in recovering market
FY23: Upside opportunities in recovering market Considerable pent-up demand yet to flow through ✓ Resilience of global travel market Travel Resilience: Historically, downturns in travel • Consistent year-on-year growth delivered PC – travel is demand have tended to be short-lived & then followed a d
Slide 9: Thanks Mel for 35 years of wonderful service
Thanks Mel for 35 years of wonderful service 9 FY22 FY22 --FCTG | FCTG FCTGFull Leisure Year Full Results Year Presentation Results Presentation
Slide 10: Preserving & enriching a world worth seeing
Preserving & enriching Preserving &a world enriching a world worth worthseeing seeing Our purpose is to open up the world for those who want to see. As one of the world’s largest travel retailers and corporate travel managers, we recognise our responsibility to preserve the places we love while enri
Slide 11: MD's Address
MD’s Address By Graham Turner 11 FY22 – FCTGFull FY22H1- FCTG Presentation Year Results Presentation
Slide 12: FY23: Continued momentum company-wide
FY23: Continued momentum company-wide Demand increasing Corporate business again out-performing – TTV & transaction volumes back at record levels Revenue margin steady year-on-year Expected to increase as market conditions improve & as initiatives gain traction Cost margin improving Tracking at 10%
Slide 13: FY23: Trading update
FY23: Trading update Strong year-on-year growth during 4 months to October 31, 2022 $61m Breakeven 248% 246% TTV underlying underlying revenue growth to EBITDA PBT (PCP: growth to profit (PCP: $6.8b $194m $667m $137m loss) loss) 13 FY22 FY22 H1 – FCTG - FCTG Presentation Annual General Meeting
Slide 14: FY23: Corporate Update
FY23: Corporate Update Strong start to the year – continued out-performance ✓ $58m underlying EBITDA profit for first four months • Compares to a $28m underlying loss during the PCP • Includes a soft July result – peak Northern Hemisphere summer holiday season ✓ Out-pacing industry sales recovery ac
Slide 15: FY23: Leisure Update
FY23: Leisure Update Continued recovery during 4 months to October 31, 2022 $3b in TTV 01 608% increase on $417m result during the PCP $23m underlying EBITDA 02 Significant turnaround on $102m underlying EBITDA loss during PCP Life begins at 40 for FCB Flight Centre brand now 40 and continues to 03
Slide 16: FY22 H1 – FCTG Presentation
16 FY22 H1 – FCTG Presentation
Slide 17: Leisure: Brand portfolio
Leisure: Brand portfolio Mass Generalist Premium Complementary Independent B2C B2B Specialist product brands: The leading network of • ready-made holidays The fastest growing community Modern omni-channel luxury travel advisors • foreign exchange of independent travel agents and retailer famous for
Slide 18: FY23: Outlook & Guidance
FY23: Outlook & Guidance Prospect of stronger profit growth in months ahead, given ongoing solid demand & margin improvement trajectory Too early to provide full year guidance at this relatively early stage & with some ongoing uncertainty around industry recovery trajectory Targeting $70m-$90m under
Slide 19: FY23: Outlook & Guidance
FY23: Outlook & Guidance No noticeable impact to date from changing macro conditions, but ongoing supply chain challenges Lack of airline capacity & competition still hampering recovery in Australia but outlook slowly improving – expected to be back to 70% of pre-COVID levels by end of 1H Absence of
Slide 20: FLT: Well placed to benefit
FLT: Well placed to benefit Emerging from the pandemic with solid 01 balance sheet & with key assets in- tact/strengthened Resilient sector – selling a discretionary 02 product that customers consistently re- invest in Investing heavily in people to service current & 03 anticipated future demand & t
Slide 21: Today's Resolutions
Today’s Resolutions 21 FY22 – FCTGFull FY22H1- FCTG Presentation Year Results Presentation
Slide 22: Resolution 1: Appointment of director – Kirsty Rankin
Resolution 1: Appointment of director – Kirsty Rankin The number of proxies received for the resolution is: Decision Count % For 88,635,753 99.44 Against 200,204 0.23 Open 293,062 0.33 Abstain 200,054 22 FY22 FY22H1 – FCTG - FCTG Presentation Annual General Meeting
Slide 23: Resolution 2: Re-election of director – Gary Smith
Resolution 2: Re-election of director – Gary Smith The number of proxies received for the resolution is: Decision Count % For 88,127,018 98.89 Against 664,248 0.75 Open 322,789 0.36 Abstain 215,018 23 FY22 FY22H1 – FCTG - FCTG Presentation Annual General Meeting
Slide 24: Resolution 3: Remuneration Report adoption
Resolution 3: Remuneration Report adoption The number of proxies received for the resolution is: Decision Count % For 72,485,612 97.8 Against 1,304,934 1.76 Open 328,495 0.44 Abstain 363,907 24 FY22 FY22H1 – FCTG - FCTG Presentation Annual General Meeting
Slide 25: Questions?
QUESTIONS? 25 FY22 H1 – FCTG Presentation
Slide 26: Appendix 1: Presentation glossary
Appendix 1: Presentation glossary ANZ = Australia & New Zealand LDV = Laurier Du Vallon (leisure brand) AM = account managers LCC = low-cost carrier AUD = Australian dollars M&A = mergers & acquisitions BAU = business as usual MTD = month-to-date BDM = business development managers NDC = new distrib
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