Webjet Group (WJL) H2 2025 earnings summary

Executive summary

• Delivered first full-year results as a standalone company, meeting FY 2024 expectations despite a challenging consumer environment and recent corporate activity.

• FY25 delivered solid results in line with expectations, with EBITDA of $39.4m and net cash of $118.1m as at 31 March 2025, reflecting strong free cash flow and disciplined cost management.

• High conviction in new strategy and five-year growth plan, with focus on long-term value creation for customers and shareholders.

• Corporate overheads declined due to transition to a standalone structure post-demerger; strategic plan in place to drive growth to FY30.

• Solid operational execution during significant change, including a recent merger and demerger.

Financial highlights

• FY 2025 group bookings: 1.53 million, down 7% year-over-year; TTV: $1.5 billion, down 6%; revenue: $139.7 million, down 3%.

• Underlying EBITDA: $39.4 million, up 1% year-over-year; EBITDA margin: 28.2%.

• Net cash: $118.1 million as of 31 March 2025; no debt.

• Underlying NPAT: $20.9 million for FY 2025.

• No dividends declared for FY 2025 due to lack of franking credits; dividends to commence FY 2026.

Outlook and guidance

• FY 2026 is a transition and investment year, with up to $15 million planned investment to support strategic plan.

• Underlying EBITDA for FY 2026 expected to be broadly in line with FY 2025, with weighting to the second half.

• Dividends anticipated for FY 2026, with a target payout ratio of 40-60% of underlying NPAT.

• On-market buyback/share buy-back deferred due to recent M&A activity but remains a priority when circumstances permit.

• Strategic plan targets doubling TTV to $3.2bn+ by FY30, focusing on international flights, hotels, packages, and business travel.