Serko Ltd (SERKF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Please stand by. We're about to begin. Good day and welcome to the CIRCO FY26 interim results announcement. Today's conference is being recorded. At this time, I would like to turn the conference over to Mr. Darren Grafton. Please go ahead, sir. Good morning from Auckland, New Zealand, and thanks for joining our investor briefing covering CIRCO's results for the half-year ending 30 September 2025. I'm Darren Grafton, CEO of Serco, and I'm with our CFO, Shane Sampson. This morning, I'll take you through our performance and highlights for the half-year period. I'll then hand to Shane to cover our financial results in detail. Then I'll talk through how we're positioning Serco for the future growth, our outlook, and finishing with Q&A. As always, and as otherwise stated, comparisons are made to previous half-year period 1H FY25. And let's begin on slide five. This is Serco's strongest half-year performance ever on both revenue and EBITDA fee. This was due to disciplined execution and our focus on profitable growth. Key call-outs are, first, we achieved strong total income growth of 45% to $61.8 million. And this reflects the scalability of our model with strong contributions from Booking.com for Business and the addition of GetThere driving our expansion into North America. Second, we delivered EBITDAFI of $6.1 million. This is our highest ever EBITDAFI result. Third, we generated $3 million of free cash flow. And this reflects our cash-generating existing business and the fact we're still in the early stages of our ramping our investment into building Serco for the future. At the same time as delivering these results, we're setting the business up for the future, and I'll touch more on that shortly. Turning to slide six, total income was up 45%. This was driven by a str...