Flight Centre Travel Group Limited · ASX:FLT
Flight Centre Travel — FY2025 Earnings Presentation
54 slides from Flight Centre Travel's earnings presentation, Aug 27, 2025
Slide 1: FY25 Full Year Result Presentation
FLT: FY25 Full Year Result Presentation August 27, 2025 1 | FLT
Slide 2: Speakers & Presentation Sections
SPEAKERS & PRESENTATION SECTIONS Adam Campbell Global CFO & Chris Galanty James Kavanagh Graham “Skroo” Turner Greg Parker CEO – Global Business CEO – Corporate CEO – Leisure Global MD & CEO CEO – Supply Services Results & Highlights Corporate Overview Leisure Overview Outlook (Section 1) (Section 2
Slide 3: Our Why
Our Why Our Why COMPANY COMPANY PURPOSE PURPOSE To open up the world for those who Totoopen want see. up the world for those who want to see. OUR VISION In 2030 FLT is a thriving global travel LEISURE VISION company celebrated for its distinctive, To become the most valuable and diverse entrepreneur
Slide 4: Results & Highlights
SECTION 1 RESULTS & HIGHLIGHTS 4 | FLT
Slide 5: FY25 Overview: Highlights and Key Drivers
FY25 Overview HIGHLIGHTS AND KEY DRIVERS RESULT SUMMARY CHALLENGING GLOBAL TRADING ENVIRONMENT • Patchy trading conditions throughout FY25 TTV • Escalating geopolitical tension & US tariff turmoil late in year • Record $24.5billion result – up 3% • Largely considered to be cyclical and short-term PB
Slide 6: UPBT impacted by cyclical challenges & other factors
FY25 UPBT impacted by cyclical challenges & other factors Inconsistent trading conditions Under-performance in some Front-loaded investments in impacting TTV growth & businesses/regions future growth drivers operating leverage • Profit growth in ANZ & Americas offset by • TP Connects - $26m investme
Slide 7: Proactively addressing cyclical challenges
FY25 Proactively addressing cyclical challenges Targeted measures to offset short-term market volatility & position FLT for accelerated profit growth as the trading cycle improves Cost Optimisation – group-wide focus on productivity gains & cost reduction. Recruitment freeze generally in place for s
Slide 8: GBS area established & set to deliver benefits
FY25 GBS area established & set to deliver benefits FUSION PROJECT I N I T I AT E D Objectives: Early focus areas: • Improve operational efficiency to • Establishment of a new Enterprise reduce the current $20m/month Technology operating model cost base • Deployment of Human Resources • Deliver scal
Slide 9: Investment in ongoing digital transformation
FY25 Investment in ongoing digital transformation to enhance the customer experience & boost productivity FLT is leveraging technology to enhance its offerings, capitalise on new trends & opportunities across both the leisure & corporate sectors CHANNEL TECHNOLOGY INVESTMENTS AI INTEGRATION & DIVERS
Slide 10: Corporate Segment
FY25 Corporate Segment 2% TTV GROWTH TO $12.3B RESULT SNAPSHOT • Record full year result in subdued trading cycle – pointing to further market-share growth • New account wins driving growth in flat global trading climate, characterised by client downtrading (reducing travel budgets) • Corporate Trav
Slide 11: Leisure Segment
FY25 Leisure Segment 6.7% TTV GROWTH TO $11.8B RESULT SNAPSHOT • 86% of record FY19 TTV delivered with 42% of FY19 FTE workforce • Highlighting strong productivity gains post-COVID as well as strong contributions from employee- light models – independent & online (circa $4billion in FY25 TTV) • Spec
Slide 12: "Other" segment
FY25 "Other" segment Pillars - Underlying PBT FY25 FY24 (restated) Other Pillar (75.3) (75.4) • Overall, the "Other" Division remained relatively flat compared to Operating Businesses (14.6) (15.9) prior year AVMIN 2.6 1.0 DMC 3.4 3.8 • Head office costs flat YOY, with cost mitigation initiatives ex
Slide 13: $450m in capital management initiatives undertaken in FY25
FY25 $450m in capital management initiatives undertaken in FY25 IN LINE WITH POLICY ANNOUNCED AT START OF FY24 & UNDERPINNED BY HEALTHY CASH GENERATION • $200m buyback of 2028 notes Convertible notes • Ongoing liability management to reduce outstanding CNs on issue using available cash repurchased •
Slide 14: Profit & Loss
FY25 $'m FY25 FY24 Mvmt Mvmt % Profit & Loss Group TTV Operating revenue 24,528 2,784 23,744 2,711 783 73 3% 3% Total revenue 2,784 2,711 73 3% ANALYSIS Other income 53 100 (47) (47%) Share of JV/Associates 3 (2) 6 (237%) • TTV growth YOY in a challenging global trading environment and a stable Empl
Slide 15: Balance Sheet
FY25 $'m 30-Jun-25 30-Jun-24 Mvmt Balance Sheet Cash & cash equivalents Financial assets 816 - 1,138 10 (323) (10) Trade & other receivables 910 885 25 Contract assets 296 301 (5) Other current assets 151 148 2 ANALYSIS Current assets 2,172 2,483 (311) • Continued focus on strengthening the balance
Slide 16: Cash Flow
FY25 $’m FY25 FY24 Mvmt Cash Flow Operating activities Operating activities before interest and tax 205 471 (265) Net interest and tax paid (66) (49) (17) Cash inflow from operating activities 139 421 (282) ANALYSIS Investing activities • Current year operating cash inflows have been significantly A
Slide 17: Corporate: Overview & Update
SECTION 2 OVERVIEW & UPDATE C O R P O R AT E 17 | FLT
Slide 18: Business Overview
C O R P O R AT E Business Overview Unique dual brand strategy that talks to & Blending latest proprietary technology with solves customer concerns in each specific extensive human expertise to deliver segment compelling customer offerings • “One size does not fit all” – dedicated customer • Neither
Slide 19: Brand Portfolio
C O R P O R AT E Brand Portfolio FCM Corporate Traveller Stage & Screen FCM M&E Global SME Entertainment Sports Meetings & Events Incentive Travel 19 | FLT
Slide 20: Footprint
C O R P O R AT E Footprint 5 COUNTRIES UK, US, Canada, India & Australia 6 COUNTRIES UK, US, Canada, South Africa, India & Australia 97 COUNTRIES GLOBALLY Global Network Core Locations 11 COUNTRIES Ireland, France, Sweden, US, Canada, Mexico, India, Singapore, Australia, South Africa, UAE 20 | FLT
Slide 21: Corporate Traveller
C O R P O R AT E Corporate Traveller NOW A KEY DRIVER OF GROUP RESULTS & STRONG FUTURE GROWTH PROSPECTS Outperforming in large US market On track to become a $5b+ per year TTV business during FY26 • Circa $4.8b in TTV during FY25 & now FLT’s 2nd largest revenue generator (behind only Flight Centre b
Slide 22: Strategic Update
C O R P O R AT E Strategic Update CONTINUED ORGANIC PRODUCTIVITY MARGIN SALES GROWTH IMPROVEMENT • High customer retention rates • TTV growth achieved with decreased FTE • Working to hold or increase revenue per maintained workforce – further productivity gains transaction, while lowering costs per
Slide 23: Benefits starting to flow from Productive Operations initiative
C O R P O R AT E Benefits starting to flow from Productive Operations initiative KEY POINTS • Significant productivity improvements across the corporate business since Productive Ops was initiated 2 years ago • More significant benefits in FCM to date (Corporate Traveller roll-out now underway) • Bo
Slide 24: Delivering Customer Benefits
C O R P O R AT E : P R O D U C T I V E O P E R AT I O N S Delivering Customer Benefits FASTER SERVICE Emails answered 6% quicker globally, reducing wait times for customers MORE SEAMLESS EXPERIENCE 28% more transactions handled per consultants, meaning faster resolutions FRICTIONLESS BOOKINGS & PAYM
Slide 25: Our AI-enabled Business Strategy
C O R P O R AT E Our AI-enabled Business Strategy DRIVING GROWTH & GROWING OPPORTUNITY GROWING DRIVING GROWTH PRODUCTIVITY New product launches in both FCM (Sam) and Corporate Traveler that are AI- Targeted use of AI in key parts of our Our powered. transactional workflow to remove human touch and l
Slide 26: Outlook
C O R P O R AT E Outlook STRONG POSITION & PRESENCE READY FOR MARKET REBOUND • Diverse global client book – not leveraged to any • $1.3b pipeline of TTV from new, contracted account one client or sector wins in FCM • Expanding addressable markets • Opportunities flowing from industry consolidation –
Slide 27: Leisure: Overview & Update
SECTION 3 OVERVIEW & UPDATE LEISURE 27 | FLT
Slide 28: Core Markets
LEISURE Core Markets United Kingdom Singapore WHERE WE PLAY Canada Australia USA New Zealand South Africa 28 | FLT
Slide 29: Our Brands
LEISURE Our Brands WHERE WE PLAY FOUR LEISURE CATEGORIES, OPERATING WITH A LEANER COST BASE & SCALABLE OFFERINGS Mass Mass Market Market Luxury Specialist Independents A thriving global brand best known for The leading network of Specialist brands: Fast growing community Flights Plus Holidays. With
Slide 30: Strategic Update
LEISURE Strategic Update TTV DRIVERS TARGET KPI GROWTH MARGIN • 7% TTV Growth: mass market (modest), • Retail network: Grew 3% adding 15 stores • Revenue Margin contraction largely independents (rapid), luxury (mixed) & specialist (mainly Travel Money & Cruiseabout) attributed to dilution in overrid
Slide 31: Leisure Vision
Leisure Vision Become the most valuable and diverse leisure travel company in our core markets, helping millions create memorable experiences. BIG MOVES How we’ll win 01. GROW 02. BET ON 03. LAUNCH & THE CORE WINNERS LIFT LOYALTY Unlock Flight Centre’s full Back High-Growth Segments Launch rewards p
Slide 32: 01. Grow the core
LEISURE 01. Grow the core CUSTOMER LOYALTY DIGITAL MODERNISATION • New Loyalty Program • AI Digital Assistance • High-Value Customer strategy – New CRM • Advance proprietary booking tool • In-store and Shopping Centre events (LSM) • Self-help functionality • Customer NPS VOC Program • New landing pa
Slide 33: 02. Bet on Winners
LEISURE 02. Bet on Winners BACK HIGH-GROWTH SEGMENTS WITH FUTURE UPSIDE CRUISE, TOURS, FOREIGN INDEPENDENT LUXURY PACKAGES EXCHANGE AGENTS 1. Grow Luxury core Travel 1. Rapid organic growth 1. Retail store growth 1. North America growth Associates (TA) & Scott across all brands in 2. Wholesale – loc
Slide 34: 03. Launch & Lift Loyalty
LEISURE 03. Launch & Lift Loyalty WHY CREATE A LOYALTY PROGRAM? FCTG CUSTOMERS PARTNERSHIPS SUPPLIERS INVESTORS Unlock FCTG Reward loyalty across Deepen supplier New Innovative levers Creates a new engine eco-system value the entire travel partnerships with to grow sales & move of sustainable growth
Slide 35: Infusing AI into the Customer Journey
LEISURE Infusing AI into the Customer Journey AGENTIC TRAVEL FRAMEWORK BETA Simplifies trip planning with tailored A digital companion that frees consultants to AI travel agents automating journey touchpoints recommendations across the FC travel product focus on high-value service. to boost efficien
Slide 36: Outlook
FLIGHT CENTRE TRAVEL GROUP”
Slide 37: Positioned for growth
FY26 OUTLOOK Positioned for growth PROVEN ORGANIC GROWTH DIVERSIFIED GLOBAL STRONG FINANCIAL MORE PRODUCTIVE & MODEL IN A RESILIENT BUSINESS BACKBONE MORE EFFICIENT SECTOR • Large scale leisure & corporate • Track record of TTV growth • Healthy cash reserves & access to • Materially larger corporate
Slide 38: Current expectations
FY26 OUTLOOK Current expectations PROACTIVELY ADDRESSING CURRENT VOLATILITY CLEAR OPPORTUNITIES FOR IMPROVEMENT • Ongoing geopolitical tensions & macro-economic factors likely to impact early • Stronger returns on the investments made in various initiatives, including Productive FY26 results Operati
Slide 39: Breaking news: Topdeck goes small
FY26 OUTLOOK Breaking news: Topdeck goes small Leading youth-tour operator Topdeck goes back to its roots; transitioning to solely offer small group trips. • Topdeck to respond to evolving Gen Z tastes with a fully revamped small-group only trip portfolio - all with a maximum of 18 travellers. • Lau
Slide 40: Thank You
THANK YOU QUESTIONS 40 | FLT FLT’s board of directors has authorized this announcement
Slide 41: Bridge between statutory & underlying PBT
Bridge between statutory & underlying PBT • Amortisation of CBs – amortisation will vary depending on quantum of CNs in FY26. $'000 FY25 FY24 • Buy-back & remeasurement of CBs – no further buy-backs during H2 Net Profit Before Tax 212,621 219,708 • Student Universe hibernation and Infinity wholesale
Slide 42: Five-year result summary
Five-year result summary $'m FY25 FY24 FY23 FY22 FY21 TTV 24,528 23,744 21,939 10,340 3,945 Revenue margin (Underlying) 11.4% 11.4% 10.4% 9.7% 10.0% EBITDA 399 423 266 (200) (432) EBITDA (underlying) 448 478 302 (183) (338) PBT 213 220 70 (378) (602) PBT (underlying) 289 320 139 (361) (507) NPAT 108
Slide 43: Geographic & business segment results
Geographic & business segment results LEISURE CORPORATE OTHER GROUP $m FY25 FY24 Restated FY25 FY24 FY25 FY24 Restated FY25 FY24 TTV 11,847 11,103 12,343 12,105 337 536 24,528 23,744 Revenue 1,406 1,356 1,144 1,112 234 243 2,784 2,711 Underlying PBT 175 185 190 211 (75) (75) 289 320 Underlyin
Slide 44: FY25 TTV breakdowns
FY25 TTV breakdowns Australia & NZ 84% Leisure FY25 Americas 85% EMEA 8% Corporate FY25 Asia 1256 Americas 3286 Australia & NZ 2356 FY25 TTV Split m 1% FM | Corporate Traveller ™ Flight Centre Brand Specialists lm Independents = Lowry m Other FLIGHT CENTRE TRAVEL GROUP”
Slide 45: Global Winning Brands | Market Segments
WHERE WE PLAY C O R P O R AT E Global Winning Brands | Market Segments CUSTOMER VALUE PROPOSITION SUPPLIER VALUE PROPOSITION Why are we different? Why are we different? • Exclusive programs/content ENTERPRISE • Combination of local vs. $100M+ spend • The only global alternative to traditional TMCs g
Slide 46: Mass adoption of Melon & FCM Platform
HOW WE WIN C O R P O R AT E Mass adoption of Melon & FCM Platform Combining a tailored, proprietary digital experience with best-in-class personal service & content access Melon is a one-stop shop for our customers to search, book and Our vision is to be the “Alternative”, the most flexible business
Slide 47: Leisure Capability Enablers
Leisure Capability Enablers HOW WE WILL DELIVER PEOPLE: GROW SALES CONSULTANTS Hire top talent, build a high-performing, fun culture that rewards success. PRODUCT: LIFT REVENUE MARGIN Boost margins with valuable & desirable customer products PLATFORMS & PERSONALISATION Consumer apps and consultant d
Slide 48: Grow the core – Product
Grow the core – Product Air Experts delivering more value on: • Choice: Cheapest, Quickest, Best • Complex: Multi-Stops & Round World • Variety: Mixed Cabin • Exclusives: ½ price deals • Open Jaw 48 | FLT
Slide 49: Grow the core – Product
Grow the core – Product Launching 2026 6 Tours Japan & Vietnam In-store attachment Up from 2.95 per booking In-Store Average booking value Average attachment Committed to Planting Ave Load $600, Spend $4k 49 | FLT
Slide 50: Luxury Product Visual Snapshot
EXCLUSIVE ITINERARIES Luxury Product VISUAL SNAPSHOT LUXURY ADVENTURES EXCLUSIVE UHNW TRAVEL CONCIERGE SERVICE EXPERIENCE-LED, NOT PRICE- POINT LED INTIMATE/VIP EVENTS UPGRADES OVER DISCOUNTS EXCLUSIVE CRUISING EXCLUSIVE PRODUCT GALLERY BUSINESS CLASS PACKAGES LUXURY FOR 50 | FLT WHOLE FAMILY
Slide 51: Product
Product HOW WE WILL DELIVER 51 | FLT
Slide 52: Platforms & Personalisation
Platforms & Personalisation A YEAR OF SIGNIFICANT DIGITAL UPLIFT FOR GLOBAL LEISURE CRM & Genesis – Connecting Customer and Consultant 01 Deployment of CRM & Telephony, powering our sales staff with key customer insights, capturing preferences, history and automating sales tasks. Four Branded Mobile
Slide 53: Partnering with Anthropic to drive Global Leisure Efficiency
Partnering with Anthropic to drive Global Leisure Efficiency FINANCE CUSTOMER ENGINEERING INSIGHTS • Commenced deployment of Anthropic Enterprise across key functional leaders CALL CONTENT CENTRE • Redesign and rethink operational processes LEARNING & MARKETING • Accelerate decision-making & strateg
Slide 54: Glossary
Appendix 8 Glossary 1H First half EPS Earnings per share NCL Norwegian Cruiselines 1Q First quarter FCB Flight Centre brand NDC New Distribution Capability ABS Australian Bureau of Statistics FTE Full-time employee NPAT Net profit after tax ABV Average booking value FX Foreign exchange PBT Profit be
Flight Centre Travel Group — FY2025 Earnings Presentation on 6ix