Experience (EXP) investor relations material

Executive summary

• Revenue grew 2% year-over-year to AUD 129.6 million, but underlying EBITDA fell 8% to AUD 17.6 million and underlying net profit after tax dropped 30% to AUD 2.0 million, reflecting a challenging environment with adverse weather, industrial action, inflation, and geopolitical conflict.

• All business units except Skydive Australia achieved revenue growth, with Skydive Australia impacted by industrial action and site consolidation.

• NTA per share improved 3% to AUD 0.10, and net debt remained stable at AUD 10.7 million.

• Strategic focus remained on earnings optimization, cost savings, portfolio simplification, trading momentum, and progressing the Skydive/Inflite transaction.

• Management highlighted continued demand for experiences during peak periods and successful cost management initiatives.

Financial highlights

• Revenue from continuing operations grew 2% year-over-year to AUD 129.6 million.

• Underlying EBITDA from continuing operations decreased 8% to AUD 17.6 million.

• Underlying net profit after tax from continuing operations before impairment was AUD 2.0 million, down 30% year-over-year.

• Statutory loss after tax (including discontinued operations) was AUD 3.3 million, impacted by the Wild Bush Luxury divestment.

• Net tangible assets per share improved 3% to AUD 0.10; net debt stable at AUD 10.7 million.

Outlook and guidance

• FY27 priorities remain on free cash flow generation, operational efficiency, and progressing the Skydive/Inflite transaction.

• July FY27 revenue and underlying EBITDA were both ahead of the prior comparative period, with Skydive Australia, Reef Unlimited, and Treetops Adventure delivering stronger results.

• Longer-term earnings recovery expected to be gradual due to macroeconomic uncertainty and uneven tourism recovery.