Slide 1: 1H24 Results
Investor Presentation 1H24 Results. 22 November 2023 1
Slide 2: 1H24 - Key Metrics
1H24 - Key Metrics . All metrics Bookings TTV Revenue EBITDA materially 4.37m $2.90bn $244.5m $102.1m ahead of 1H23. (AUD) (AUD) (AUD) 27% 35% 39% 41% on 1H23 on 1H23 on 1H23 on 1H23 NOTE: Unless otherwise stated, in this document all financials are for Underlying Operations and all comparisons are
Slide 3: 1H24 - Highlights
1H24 - Highlights. Transformation strategy delivering EBITDA 41% on 1H23 EBITDA outperformance. $89.9m 26% based on functional currency $26.6m 24% on 1H23 • Significant growth over 1H23 & all metrics ahead of • Strong growth over 1H23 on all key metrics; TTV back pre-pandemic levels; Booking volumes
Slide 4: WebBeds
Travel Brands Update WebBeds. B2B Marketplace Serving the Global Travel Trade 4
Slide 5: WebBeds
1H24 - WebBeds. All metrics Bookings TTV Revenue EBITDA significantly ahead 3.52m $2.08bn $171.8m $89.9m of both 1H23 and (AUD) (AUD) (AUD) pre-pandemic levels. Driven by reopening of APAC, Lower Average Booking Value Reflecting increased share Reflecting best-in-class organic growth in North Americ
Slide 6: 1H24 - WebBeds
1H24 - WebBeds. EBITDA 23% WebBeds Bookings ('000s) 1H24 3,518 vs 1H23 2,655 Change 32% vs 1H20 (pre-Covid) 2,343 Change 50% higher than Average Booking Value $591 $536 10% $649 9% pre-pandemic TTV $2,078m $1,423m 46% $1,521m 37% Revenue $171.8m $114.4m 50% $135.8m 26% levels, EBITDA
Slide 7: 1H24 Trading
1H24 Trading. Continued • Growth continues to increase. Significant organic Bookings - % of Pre-Covid (1) growth and new client wins outperformance ̵ APAC: region now fully reopened and momentum APAC surges. picking up quickly; largest opportunity ̵ Europe: largest region by TTV; remains an importan
Slide 8: WebBeds is now a truly global business
WebBeds is now a truly global business. Bookings Global WebBeds is fundamentally different to what it was diversification pre-pandemic: delivers • Now a true global B2B business high-quality and no longer European-centric balanced portfolio. • APAC continues to be the largest opportunity • Americas
Slide 9: Webjet OTA
Travel Brands Update Webjet OTA. Australia & New Zealand 9
Slide 10: 1H24 - Webjet OTA
1H24 - Webjet OTA. Strong growth Bookings TTV Revenue EBITDA over 1H23 as 692k $716m $61.2m $26.6m international (AUD) (AUD) (AUD) capacity returns. Strong rebound in international Higher Average Booking Values Focus on higher margin revenue Reflecting world class although capacity constraints drive
Slide 11: 1H24 - Webjet OTA
1H24 - Webjet OTA. 1H24 EBITDA Webjet OTA Bookings ('000s) 1H24 692 1H23 641 Change 8% vs 1H20 (pre-Covid) 809 Change 15% up 24% over 1H23. Average Booking Value $1,035 $957 8% $886 17% EBITDA margins TTV $716m $614m 17% $717m 0% Revenue $61.2m $51.8m 18% $76.5m 20% back to Expenses
Slide 12: Significant market share gains
Significant market share gains. Total market • International share 37% higher than pre-pandemic Webjet OTA Average Market Share − International share increased 24% over 1H23 reflecting Across GDS Bookings – Australia Travel Agency Offline & Online(1) share up 54% capacity returning to market and foc
Slide 13: GoSee
Travel Brands Update GoSee. 13
Slide 14: 1H24 - GoSee
1H24 - GoSee. Strong GoSee Bookings ('000s) 1H24 156 vs 1H23 136 Change 15% vs 1H20 (pre-Covid) 255 Change 39% improvement Average Booking Value $668 $776 14% $591 13% over 1H23 but TTV $104m $105m 1% $151m 31% Revenue $11.1m $9.5m 17% $15.3m 27% inbound tourism Expenses $10.0m $8.9m
Slide 15: Technology innovation
Investments Technology innovation. 15
Slide 16: Acquisition of remaining assets in ROOMDEX
Acquisition of remaining assets in ROOMDEX. ROOMDEX now Acquisition of 49% in February 2022 • Webjet Limited made a strategic investment in ROOMDEX integrated into in February 2022, acquiring 49% for US$10 million. WebBeds. • The strategic intent was for WebBeds to promote the product with hotels an
Slide 17: Technology performing & strong opportunity pipeline
Technology performing & strong opportunity pipeline. Trip Ninja • In November 2021, Webjet Limited acquired 100% of Canadian travel technology company Trip Ninja delivering ahead • Trip Ninja develops products to automate the highly of acquisition manual process of selling complex international itin
Slide 18: 1H24 Financial Summary
Group update 1H24 Financial Summary. 18
Slide 19: 1H24 - Financial Summary
1H24 - Financial Summary. Statutory Result Underlying Operations (1) Underlying NPAT Webjet Limited Group 1H24 1H23 1H24 1H23 up 120%. Revenue (2) $244.5m $175.8m $244.5m $175.8m (3) Operating expenses ($142.4m) ($103.2m) ($142.4m) ($103.2m) Non-operating expenses ($0.6m) ($5.4m) - - Share based pay
Slide 20: 1H24 - Cash position
1H24 - Cash position. Generated 1H24 $24m $27m $120m $144 million cash. Positive average monthly cash flow Average cash surplus per month Capital management initiatives Cash up on March 2023 AUD millions 31 Mar 2023 Foreign Currency Working Capital Earnings/CAPEX/ Cash & Finance and Investing 30 Sep
Slide 21: 1H24 - Corporate costs & non-operating expenses
1H24 - Corporate costs & non-operating expenses. 1H24 reflects Corporate 1H24 1H23 Change 1H20 Change increased B2B EBITDA $89.9m $63.7m 41% $73.1m 23% recovery in Group B2C EBITDA (1) $27.7m $22.1m 25% $39.8m 30% Technology Investments (2) ($2.2m) ($2.5m) 12% na nm activity as well Corpor
Slide 22: 1H24 - Balance Sheet
1H24 - Balance Sheet. Continued focus A$m Sep-23 Mar-23 Cash and Cash Equivalents • Cash continues to increase from trading profit and working on strengthening Cash & cash equivalents (1) 633.8 513.9 capital benefit while also undertaking $27 million of capital management initiatives the Balance She
Slide 23: 1H24 - Cash Flow
1H24 - Cash Flow. Significant A$m 1H2 4 1H23 Cash from Operations • Earnings growth the key driver of cash generation cash generation Statutory EBITDA (1) 98.5 63.0 • Continued growth in B2B TTV driving positive working driven by earnings Change in working capital & non-cash items 77.8 108.0 capital
Slide 24: 1H24 - CAPEX Summary
1H24 - CAPEX Summary. Continued investment in technology and property providing foundations for growth. 1H24 CAPEX FY24 CAPEX • B2B continues to invest in operational and technology • Expected to be c.$40 million - c.$37 million excluding property improvements (CY19 (pre-Covid): $35.3 million) − 1H2
Slide 25: FY24 Outlook
Group update FY24 Outlook. 25
Slide 26: FY24 Outlook - Record Result Expected
FY24 Outlook - Record Result Expected. Global travel demand is FY24 EBITDA expected to be between $180 to $190 million resilient. 2H24 EBITDA 2H24 EBITDA 2H24 EBITDA Continued record performance expected to be consistent expected to be consistent with 1H24 with 1H24 FY24 results will be announced on
Slide 27: Thank you
webjet limited tripninja at
Slide 28: Glossary & abbreviations
Glossary & abbreviations. CY19 12 months ending 31 December 2019 (i.e. pre-pandemic) - unaudited 1H20 6 months ending 30 September 2019 (i.e. pre-pandemic) - unaudited 1H23 6 months ending 30 September 2022 1H24 6 months ending 30 September 2023 FY24 12 months ending 31 March 2024 APAC Asia Pacific