On the Beach Group (OTB) investor relations material

Executive summary

• Record H1 booking volumes of 324,200, up 7% year-over-year, with TTV up 2% despite industry headwinds from the Middle East conflict.

• Significant growth in city breaks (up 116%) and Ireland (up 74%), with strong app engagement and increased automation to 98% of bookings.

• Technology investments increased search conversion by 24%, with app bookings now 38% of total and monthly active users up 29%.

• Strategic transformation completed, focusing on automation, AI, and a single B2C segment, with the business remaining profitable and cash generative.

• Asset-light model and automation enable flexibility amid shifting booking patterns and geopolitical headwinds.

Financial highlights

• Booked TTV reached £626.2 million, up 2% year-over-year; booking volumes up 7% to 324,200.

• Adjusted revenue was £52.9 million, down £6.4 million due to lower average booking values and mix shift.

• Adjusted EBITDA declined to £6.4 million from £12.8 million; adjusted profit before tax dropped to £2.3 million from £8.4 million.

• Marketing costs fell by £4.5 million, reducing marketing as a proportion of revenue from 44% to 41%.

• Net debt reduced by £2 million to £27.5 million, with £88 million facility headroom and £210 million trust account balance.

• Interim dividend of 1.0p per share declared, consistent with prior year.

Outlook and guidance

• FY26 adjusted profit before tax guidance reinstated at £18 million–£25 million, reflecting confidence in medium-term prospects.

• Forward orders for H2 are flat year-over-year, but later booking curve means significant volume still to come.

• Recent six-week bookings up 9%, and summer bookings up 17% month-to-date.

• Full-year dividend payout expected to be 25% of FY26 profit after tax, likely lower than prior year.

• Board remains confident despite geopolitical and consumer challenges.