1H25: Newly demerged Webjet Group delivers strong EBITDA and strategic momentum.

Webjet Group Limited (ASX:WJL) today announced its financial results for the six months to 30 September 2024. Pursuant to its Demerger from WEB Travel Group Limited (ASX:WEB), the Company under ASIC relief has aligned its reporting requirements as if its first financial half-year was the period to 30 September 2024.

Webjet Group 1H25 Underlying EBITDA $19.4 million; Underlying NPAT $9.2 million; net cash $100.7 million providing significant liquidity and funding to support growth

Webjet OTA EBITDA $27.4 million, ahead of pcp, driven by higher margin ancillaries and international bookings. GoSee restructuring underway to deliver c.$4 million annualised OPEX savings

On 30 September 2024 Webjet Group was demerged from WEB Travel Group Limited. These 1H25 results mark Webjet Group’s first reporting period. Webjet Group has elected to adopt predecessor accounting to ensure continuity and comparability in its financial reporting and elected to present previous corresponding period (pcp) financial information as if it had always operated independently. Consequently, the comparative numbers are only representative in nature.

Unless otherwise stated, all financials are for Underlying Operations and all comparisons are over pcp. Underlying Operations reflects the core financial performance of Webjet Group, adjusting for the impact of any one-off or non-recurring items, non-cash items such as share based payments and pro forma adjustments disclosed in the Demerger Booklet. These adjustments are made to give investors a clearer and more consistent view of Webjet Group's ongoing financial performance. Underlying Operations are non-IFRS measures and not subject to review procedures.

• 1H25 represents Webjet Group’s first results as a stand-alone entity following the demerger from WEB Travel Group Limited that was implemented on 30 September 2024.
• Webjet Group saw 1H25 Bookings, TTV and Revenue down compared to the same period last year, reflecting the challenging macro-economic conditions impacting domestic flight bookings.
• Webjet Group 1H25 EBITDA slightly up on 1H24 despite the market, driven by the focus on higher margin products.
• Webjet Group NPAT $9.2 million (1H24; $9.0 million).
• Webjet OTA 1H25 Revenue and EBITDA up as higher margin products help offset subdued domestic bookings environment - Revenue $62.1 million (1H24: $61.2 million), EBITDA $27.4 million (1H24: $26.6 million); EBITDA margin 44.1% (1H24:43.5%).
• Webjet OTA Revenue per Booking now higher than pre pandemic – higher margin ancillary products now 35% of Revenue, International now 20% of total flight bookings.
• GoSee (Airport Rentals & Motorhome Republic) continues to be challenged – Car Bookings down in line with subdued domestic flights and Motorhomes remains impacted by reduced long-haul inbound tourism and higher prices. Strategic review in 2Q25 – c.$4 million annual OPEX savings identified. Restructuring underway with c.$1 million savings expected in 2H25.
• Strong balance sheet means the Company is well placed to pursue growth; $100.7 million net cash, with dividends anticipated from FY26. Dividend policy to be announced at FY25 results in May 2025.
• Strategic initiatives progressing well – Strategy Day in March 2025 to update on 3–5-year strategic plan.

Webjet Group Limited - 1H25 Key metrics.

Commenting on the result, Webjet Group's Managing Director Katrina Barry said:

“Today we report a very pleasing and strong result in the context of a challenged broader Australasian economy. 

The team has done an enormous amount of hard work during the period. Highlights include implementing the demerger from WEB Travel Group Limited, establishing Webjet Group as a new stand-alone ASX listed company, making inroads with our new Webjet OTA member program and completing a deep dive strategic review into the GoSee business.  Our focus has been setting ourselves up for and laying the foundations for accelerating growth in the next few years. 

The Australasian economy remains slow, and the ongoing cost of living pressures continue to subdue demand for travel, particularly for domestic flights. Webjet OTA Bookings were further impacted during the period by REX airlines going into administration given their predominately leisure focus.

The Webjet OTA team has thus once again done an excellent job targeting higher revenue margin opportunities, selling more ancillaries to our customers and increasing international flight bookings. As a result, Revenue per Booking is now higher than it was pre-pandemic. Combined with the ongoing focus on cost control we have been able to increase Webjet OTA’s profitability.

GoSee continues to be challenged, and our priority is to lift profitability. We have identified opportunities to further simplify and streamline that business whilst maintaining our clear customer focus. Restructuring is now underway and expected to deliver c.$4 million annualised cost savings, with c.$1 million in 2H25.

Trip Ninja continues to deliver value for Webjet OTA and explore its international opportunities.

Looking forward, the macro-economic environment continues to be challenging and given our brands are consumer facing, Webjet Group will not be immune.  However, we remain optimistic on the broader medium-term outlook. As outlined in our demerger investor presentation, we have clear and robust strategic priorities to deliver growth and enhance our leadership positions in online travel marketplaces. Our planned initiatives are progressing well with several showing exciting potential and we are accelerating investment in technology platforms and other key growth drivers. With the demerger now behind us, Webjet Group is solely focused on growth, and we look forwarded to sharing more about our plans to take the Company to the next horizon at our Strategy Day in March 2025.”

Further information on 1H25 performance is set out in Webjet Group’s 1H25 Investor Briefing Presentation and half year Financial Report for 6 months ending 30 September 2024.

The Company expects to release its FY25 results on or around 21 May 2025.

This announcement has been approved for release to the ASX by the Board of Directors.

For further information.

Investors.
Carolyn Mole
investor@webjetgroup.com 

Media.
Please contact the History Will Be Kind team at media@webjetgroup.com or call on (+61) 02 8046 4848