FY25: A solid result in line with expectations.

Webjet Group Limited (ASX:WJL) today announced its financial results for the 12 months to 31 March 2025. Pursuant to its Demerger from Web Travel Group Limited (ASX:WEB), the Company, under ASIC relief, has adopted a financial year ended 31 March 2025.

Webjet Group FY25 Underlying EBITDA $39.4 million; Underlying NPAT $20.9 million; net cash $118.1 million.

Webjet OTA EBITDA $51.6 million as higher margin products help offset subdued domestic Bookings environment. Cars & Motorhomes EBITDA $1.6 million reflects impact of restructuring coming through.

Webjet Group was demerged from Web Travel Group Limited on 30 September 2024 and these FY25 results mark the Company’s first full financial year 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 nonrecurring items, non-cash items such as impairments and share-based payments and pro forma adjustments disclosed in the Demerger Booklet. These adjustments are made to provide a clearer and more consistent view of Webjet Group's ongoing financial performance. Underlying Operations are non-IFRS measures and not subject to audit procedures.

• Webjet Group EBITDA in line with FY24 despite challenging macro-economic environment - FY25 Bookings down 7% on pcp, TTV down 6%, Revenue down 3%. EBITDA up 1% supported by continued focus on improving Revenue/TTV margins and disciplined cost management.
• Webjet OTA impacted by softening domestic flights market and Rex Airlines going into voluntary administration - Bookings down 7% on pcp; TTV down 5%, Revenue down 1%, EBITDA down 5%. Fall in Bookings largely offset by growth in higher margin international flight bookings and ancillary products. EBITDA margins remain very strong at 43.0%.
• Cars & Motorhomes (formerly GoSee) EBITDA reflects impact of restructuring coming through - Expenses down 10% over pcp. 2H25 EBITDA $1.4 million, up from $0.2 million in 1H25.
• Strong balance sheet to pursue growth - $118.1 million net cash and access to $20 million revolving credit facility.
• Capital management initiatives announced - Dividends anticipated from FY26. On market share buy-back intended to be implemented when circumstances permit.
• Strong progress being made on FY30 strategic priorities.
• FY26 underlying EBITDA expected to be broadly in line with FY25, assuming no further deterioration in trading.

Webjet Group Limited - FY25 Key metrics.

Commenting on the result and outlook, Katrina Barry - Group CEO and Managing Director said:

“We’re pleased to have delivered a solid result in line with expectations, despite a challenging consumer environment. This performance reflects the strength of our underlying business, the commitment of our people, and our disciplined focus throughout a period of significant change, including the successful completion of the demerger.

In our Webjet OTA business, while domestic travel softened due to economic pressures and cost-of-living impacts, we saw strong and growing demand for international travel. With capacity returning to international markets, we’re actively expanding our presence in this space. Revenue optimisation initiatives – including growing international bookings, launching compelling member-only offers, and increasing sales of higher-margin ancillaries – helped offset domestic softness and diversify earnings. We continue to lead in industry innovation, leveraging NDC partnerships to offer differentiated content, and applying our proprietary Trip Ninja technology to enhance conversion and margins. Webjet OTA remains one of the most profitable online travel agencies globally, consistently delivering EBITDA margins above 40%.

In our Cars & Motorhomes division, we undertook a strategic review in the first half of the year focused on improving profitability. By simplifying operations, automating key processes, and sharpening our customer proposition, we have reduced costs and improved execution. These foundational changes are already driving operational efficiencies and have positioned the business to return to profitable growth as we head into FY26.

Trip Ninja continues to be a strategic asset and innovation engine within the Group. Over the past year, the platform has expanded its customer base, added three new travel intermediary partners, and launched a powerful new analytics engine to uncover value in flight retailing. Fully integrated across multi-stop searches on Webjet OTA, Trip Ninja is now being prepared for long-haul return journeys – unlocking further margin and conversion opportunities.

While the external environment presented headwinds, we remained focused on executing our operational priorities and positioning the business for long-term growth. The result not only demonstrates our ability to deliver in the face of uncertainty but also reinforces our confidence in the strategic direction we are now pursuing.

We have continued to see subdued domestic flight bookings for the first 6 weeks of FY26 trading, particularly given the timing of Easter and Anzac holidays this year, although international bookings are up compared to the same time last year. While we remain cautious amid ongoing macro-economic and US challenges, we continue to invest in support of our FY30 Strategic Plan and are seeing strong progress on our strategic priorities.

With a clear plan to deliver significant growth by FY30 and renewed focus, we’re excited about the opportunities ahead and confident we are laying the foundation to drive meaningful and sustained value for our shareholders.”

Commenting on capital management initiatives, Don Clarke – Chair, said:

“With the immediate cash resources available to the Company, capital management is an issue frequently discussed within the Company. Having in recent times been through the shutdown of travel (locally and globally) due to the Covid pandemic, the Board is very conscious of its need to maintain sufficient cash resources to guard against any repeat of that scenario. It is also aware that having significant cash resources materially benefits the Company in the current volatile environment, be it to fund specific growth opportunities (whether organic and/or inorganic) or to take advantage of any other opportunities that may present themselves.

Subject to funding any such growth opportunities and taking appropriate account of the Company's circumstances at the relevant future time, the Board has resolved to adopt a dividend policy that will reward shareholders by the distribution of between 40% and 60% of Underlying Net Profit After Tax (NPAT) as annual dividends and/or capital returns. Given the Company should by then have sufficient franking credits, it is the Company’s present intention to declare an interim dividend for FY26 in November 2025.

In the absence of current franking credits, the Company had intended to announce an on-market share buyback today. However, given the recent receipt and subsequent rejection of the non-binding indication of interest from BGH Capital, the Board has determined to defer the implementation of any capital management initiatives. We are committed to returning surplus capital to shareholders and intend to do an on-market buyback when the circumstances permit.”

Further information on FY25 performance is set out in Webjet Group’s FY25 Investor Briefing Presentation and Financial Report for the year ended 31 March 2025.

The Company’s first Annual General Meeting is scheduled to be held on 28 August 2025.

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

For further information.

Investors.
Please contact investor@webjetgroup.com 

Media.
Please contact media@webjetgroup.com or call on (+61) 02 8046 4848