Slide 1: Full Year Result 2003/04
Full Year Result 2003/04 _
Slide 2: Record profit
Record profit Total Transaction Value (TTV) increased 29% to $5.9 billion Gross margins maintained in volatile market 16% increase in selling staff, 12% increase in shops
Slide 3: Increased final dividend 40.5 cents per share fully franked
Increased final dividend 40.5 cents per share fully franked Continued strong cash generation facilitates special div of 40c & pay out ratio to 70% (previously 45%-55%) New web-based booking service takes Flight Centre to the forefront Increased IT investment and productivity enhancements in 2004/05
Slide 4: Key Financial Results
Key Financial Results oe Yad $m Growth % TTV $5.9b 29% Operating Revenue $799m 28% Operating Profit (Before Tax & $131.4m 21% Amort of Goodwill) Operating Profit (before tax) $121.3m 19% NPAT $81.9m 17% EBITDA $157m 24% Basic EPS 87.4c per share 14% Dividend (full year) 61c per share 40% Growth calc
Slide 5: FCL Financial Performance 2004
FCL Financial Performance 2004 © 2002/03 @ 2003/04 799 82 Net Profit After Revenue ($m) Tax ($m)
Slide 6: 2004 Operating Highlights
2004 Operating Highlights -« Strong performance from leisure travel operations with profit increasing about 50% ¢ Significant growth and future growth potential for Flight Centre brand in all states « Improvement in Escape Travel’s results ¢« Continued profit in Corporate - marginally down on last y
Slide 7: 2004 Operating Highlights
2004 Operating Highlights « $11 million profit before tax - result affected by $3 million in one-off costs « Profit improvement expected with development of one main brand in leisure (Flight Centre) and corporate (FCm Travel Solutions) markets « Increased focus on online operations « Benefits flowin
Slide 8: 2004 Operating Highlights
2004 Operating Highlights « Overall profit of $9 million before tax « Solid contribution from Britannic — profit in line with expectations at time of acquisition « Significant improvement and profit from generic leisure and corporate brands - Corporate Traveller now part of Britannic ¢« Ongoing focu
Slide 9: 2004 Operating Highlights
2004 Operating Highlights « Continued strong profitability - operational performance in line with 2002/03 « Results affected by $1 million over-ride loss « Student Flights profitable for first year « Enhanced booking engine added to website in first quarter « Ongoing focus on upstaffing and growth -
Slide 10: 2004 Operating Highlights
2004 Operating Highlights . Result in line with expectations . $AUD1.4 million reduction in losses to $4UD2.6 million, before tax . 2 New shops opened . Corporate Traveller brand consistently profitable . Ongoing focus on manageable expansion - new shop openings and upstaffing, strategic corporate a
Slide 11: 2004 Operating Highlights
2004 Operating Highlights « Result ($AUD2.3m) loss significantly affected by uncertainty surrounding Air Canada « 15 new shops opened « Corporate Traveller brand profitable and to be expanded « Ongoing focus on productivity enhancements and systems improvement « Preferred relationship with WestJet t
Slide 12: Shop numbers by region 2004 vs 2003
Increase 2004 2003 Australia 646 575 71 12% New Zealand 140 128 12 9% South Africa 88 80 8 10% FC UK 82 74 8 11% Britannic 42 42 0 0% USA 17 15 2 13% Canada 115 100 15 15% Other 9 5 4 80% Total
Slide 13: Capital Management
Capital Management e Increased returns for shareholders « Increased dividend pay-out ratio — 70 per cent of net profit « Fully franked special dividend of 40 cents per share (November 2004) « Future special dividends, subject to operational, acquisition and growth requirements « Focus on Earnings Pe
Slide 14: Profit Expectation: 15% growth
rofit Expectation: 15% growth Through ... « Enhanced productivity —- increased product range and margins « Increased higher margin land-based business - Cost effective upstaffing and shop growth « Preferred supplier strategy « Corporate travel growth under one brand Forward Looking Statements Some o
Slide 15: Shop Growth Expectations
Shop Growth Expectations Increase Australia 740 646 94 15% New Zealand 163 140 23 16% South Africa 97 88 9 10% FC UK 99 82 17 21% Britannic 45 42 3 7% USA 23 17 6 35% Canada 132 115 17 15% Other 12 9 3 33% Total 1,311 1,139 172 15% ard Looking Statements information in this presentation may contain
Slide 16: Questions?
Questions? sl
Slide 17: Flight Centre - Brands
Flight Centre - Brands Corporate Branc Flight Centre o FCm Travel Solutions Escape Travel TQ? Travel Solutions Student Flights Britannic (UK) Travel Associates Ci Events Overseas Working Holidays Stage and Screen Cruiseabout Kistend Travel Campus Travel Online Brands 0 travelthere.com o quickbeds.co
Slide 18: Full Year Results past Years
Full Year Results past 12 Years % Growth Shops % Growth Profit (BT) $,000 $,000 92/93 93/94 94/95 95/96 96/97 97/98 98/99 99/00 00/01 01/02 02/03 36% 39% 39% 28% 27% 22% 22% 31% 25% 20% 26% 29% 29% 28% 135 165 199 250 306 364 440 953 671 832 1,019 1,139 13% 22% 21% 26% 22% 19% 21% 26% 21% 24% 22% 12