Webjet Group Limited · ASX:WJL
Webjet — Investor Presentation (November 2024)
29 slides from Webjet's investor presentation, Nov 26, 2024
Slide 1: 1H25 Investor Briefing Results
1H25 Investor Briefing Results. 25 November 2024 1
Slide 2: Contents
Contents. Group Performance - Key Metrics Business Unit Updates Webjet OTA GoSee Financial Summary FY25 Trading Update 2
Slide 3: Demerger of Webjet Group Limited from WEB Travel Group
Demerger of Webjet Group Limited (WJL) from WEB Travel Group implemented 30 September 2024 Webjet OTA GoSee Trip Ninja The #1 online travel agent in A global motorhome & car rental Providing complex travel Australia & New Zealand. ecommerce site. itinerary automation technology. Webjet Group has ele
Slide 4: Webjet Group overview
Webjet Group overview. Webjet OTA GoSee The #1 OTA in Australia & New Zealand Global specialist in motorhome & car rental With two owned brands… 1.3k+ Product suppliers Airport Rentals Flights Unique Hotels 730,000+ hotels Holiday Packages Travel Insurance Unlock hotel Powered by Hire Cars 400+ glob
Slide 5: Growth Strategy
Growth Strategy. Our Mission: To help people travel by seamlessly integrating world class technology to offer unparalleled choice & convenience. Our Vision: To enhance the leadership positions of our online travel marketplaces in Australia & New Zealand. Our Strategic Priorities: Customer Revenue In
Slide 6: We are progressing our strategic priorities
We are progressing our strategic priorities. Our Mission: To help people travel by seamlessly integrating world class technology to offer unparalleled choice & convenience. Our Vision: To enhance the leadership positions of our online travel marketplaces in Australia & New Zealand. H1 Outcomes: Cust
Slide 7: 1H25 Webjet Group - Key Metrics; EBITDA continues to improve
1H25 Webjet Group - Key Metrics; EBITDA continues to improve. Bookings TTV Revenue EBITDA 784 $752 $72.0 $19.4 thousand million million million Note: • All references to $ are in AUD unless otherwise noted. • 1H23 and 1H24 comparatives are for Underlying Operations and are representative in nature o
Slide 8: Exceptionally strong balance sheet, Webjet OTA EBITDA ahead of PCP
Exceptionally strong balance sheet, Webjet OTA EBITDA ahead of PCP. Webjet OTA GoSee EBITDA $27.4m EBITDA $0.2m Net cash(1) $100.7m 1H24: $26.6m 1H24: $1.1m As at 30 Sep-24 • Higher margin products helping offset • Car Bookings down in line with softening • Strong balance sheet to fund growth subdue
Slide 9: Webjet OTA
Travel Brands Update Webjet OTA. The #1 online travel agent in Australia & New Zealand. 9
Slide 10: 1H25 Webjet OTA - Higher margin product focus helping offset subdued domestic Bookings
1H25 Webjet OTA - Higher margin product focus helping offset subdued domestic Bookings environment. Bookings TTV Revenue EBITDA 644 $661 $62.1 $27.4 thousand million million million Driven by subdued TTV aligned Revenue optimisation World class domestic market with Bookings initiatives coming throug
Slide 11: Revenue & EBITDA up driven by international focus and ancillaries
Revenue & EBITDA up driven by international focus and ancillaries. Webjet OTA 1H25 1H24 Change Bookings 644k 692k (7%) Average Booking Value $1,026 $1,035 (1%) TTV $661m $716m (8%) Revenue $62.1m $61.2m +1% Expenses $34.7m $34.6m +0% EBITDA $27.4m $26.6m +3% Revenue / TTV Margin 9.4% 8.5% +90bps EBI
Slide 12: Growth strategy delivering higher Revenue per Booking, above pre pandemic levels
Growth strategy delivering higher Revenue per Booking, above pre pandemic levels. $8 CY19 per booking on 1H24 CY19 Reduced Air Webjet CY19 1H24 Focus on revenue 1H25 (reported) commission Exclusives (adjusted) optimisation initiatives, & overrides closure international bookings & ancillary products
Slide 13: We are selling more ancillaries, driving higher Revenue per Booking
We are selling more ancillaries, driving higher Revenue per Booking. Non-Air ancillary products are growing as a percentage of Non-Air Ancillaries growing Revenue as a % of total revenues. • Attachment rates of ancillaries is increasing. • Focus on member-only deals going forward projected to drive
Slide 14: Increasing international flight bookings are driving higher Revenue per Booking
Increasing international flight bookings are driving higher Revenue per Booking. We see significant opportunities to increase international International growing • International flight prices are starting to fall, “early bird” fares are as a % of total flight bookings. returning, and capacity is ent
Slide 15: Member only campaigns are now active
Member only campaigns are now active. Webjet Member Only Sales campaigns now being run across AU/NZ • 5 Member Only offers launched since September. • Significant lift in daily sign-up and sign-in rates during first campaign; – Sign-ups: 250% increase vs normal daily average. – Sign-ins: 120% incr
Slide 16: GoSee
Travel Brands Update GoSee. Global motorhome & car rental ecommerce sites 16
Slide 17: 1H25 GoSee - Key Metrics; Bookings reflect softening domestic flights market
1H25 GoSee - Key Metrics; Bookings reflect softening domestic flights market. Bookings TTV Revenue EBITDA 140 $91 $9.8 $0.2 thousand million million million Cars Bookings lower in TTV aligned Margin maintained Reflects lower Cars Booking line with softening with Bookings volumes & largely fixed cost
Slide 18: Car Bookings fell in line with softening domestic flights, Motorhomes continues to be challenged
Car Bookings fell in line with softening domestic flights, Motorhomes continues to be challenged. GoSee 1H25 1H24 Change Bookings 140k 156k (10%) Average Booking Value $650 $667 (2%) TTV $91m $104m (13%) Revenue $9.8m $11.1m (12%) Expenses $9.6m $10.0m (4%) EBITDA $0.2m $1.1m (82%) Revenue / TTV Mar
Slide 19: Simplification and restructuring underway to deliver c.$4.0m annualised OPEX savings
Simplification and restructuring underway to deliver c.$4.0m annualised OPEX savings. Q2 Activity and Findings Outcome of Strategic Review • Our priority is to improve the profitability of this business. • Simplify service offering to focus on profitable bookings • We undertook a strategic review of
Slide 20: 1H25 Financial Summary
webjet group 1H25 © Finan a Summary. www.webjetgroup.com
Slide 21: 1H25 - Financial Summary
1H25 - Financial Summary. Webjet Group Limited Statutory Result Underlying Operations Note See Note 1H25 1H24 1H25 1H24 1. Revenue excludes interest income. Revenue in 1H24 Statutory Result includes a $6.4m adjustment which will not re-occur subsequent to the demerger Bookings 784k 848k 784k 848k 2.
Slide 22: 1H25 - Technology & Corporate overheads
1H25 - Technology & Corporate overheads. Corporate 1H25 1H24 Change Trip Ninja continuing to expand and develop its technology offering • 1H25 reflects inflationary pressures and increased headcount costs Webjet OTA EBITDA $27.4m $26.6m +3% GoSee EBITDA $0.2m $1.1m (82%) Corporate overheads reflect
Slide 23: 1H25 - Balance Sheet
1H25 - Balance Sheet. A$m Sep-24 Mar-24 Cash and Cash Equivalents • Increase primarily reflects cash received from the demerger allocation Cash & cash equivalents (1) 143.4 100.3 • Net cash of $100.7 million, up from $57.4 million at Mar-24 Trade receivables & Other assets 18.9 17.6 Non-current asse
Slide 24: 1H25 - Cash Flow
1H25 - Cash Flow. A$m 1H25 1H24 Cash from Operations • Working capital impacted by demerger accounting adjustments Statutory EBITDA 16.2 12.3 • Operating cash conversion expected to be circa 100% from FY26 onwards Change in working capital (12.6) 2.1 Non-cash items 3.0 2.3 Investing Income tax (0.1)
Slide 25: 1H25 - CAPEX Summary
1H25 - CAPEX Summary. 1H25 • Increase represents acceleration of investment to support growth initiatives • Webjet OTA - Investing in enhancements to support increased customer engagement and retention, international bookings growth and product innovations • GoSee - Investing in enhancements to supp
Slide 26: FY25 Update
Group Update FY 7S am Update. www.webjetgroup.com
Slide 27: Looking forward
Looking forward. We expect FY25 Underlying EBITDA to be broadly in line with FY24. We are well positioned to accelerate growth in FY26 and beyond. We will be holding a Strategy Day in March 2025 to update the market on our 3–5 year plan. 27
Slide 28: Thank you
webjet group www.webjetgroup.com
Slide 29: Glossary & abbreviations
Glossary & abbreviations. CY19 12 months ending 31 December 2019 (i.e. pre-pandemic) - unaudited 1H23 6 months ending 30 September 2022 1H24 6 months ending 30 September 2023 1H25 6 months ending 30 September 2024 1H26 6 months ending 30 September 2025 2H25 6 months ending 31 March 2025 FY24 12 mont