Flight Centre Travel Group (FLT) investor relations material

Executive summary

• Achieved record first half with TTV of $12.5b (up 7%), revenue of $1.41b (up 6.1%), and underlying EBITDA up 9% to $213m.

• Underlying profit before tax rose 4% to $125m, exceeding expectations for a flat first half.

• Corporate division delivered record TTV and 20% profit growth, with strong productivity and digital innovation.

• Investments in AI, digital platforms, and high-growth sectors like cruise and luxury continued.

• Portfolio simplification ongoing, with divestitures of non-core assets and acquisitions such as Iglu and Scott Dunn.

Financial highlights

• TTV grew 7.3% year-over-year to $12.54b; revenue up 6.1% to $1.41b.

• Underlying EBITDA increased 9% to $213m; underlying PBT up 4% to $125m.

• EPS rose to 28.3c; interim dividend increased 9% to 12c per share.

• Cost margin at record low 9.6% for 1H; productivity up 13% in corporate and over 60% group-wide since 6-7 years ago.

• Net cash position of $238.5m at 31 Dec 2025; net assets at $1,183m.

Outlook and guidance

• FY26 underlying PBT guidance reaffirmed at $315m–$350m, implying 15% year-on-year growth.

• Second half expected to deliver 62% of annual profit, with record January supporting strong H2 outlook.

• Both corporate and leisure divisions tracking for year-on-year profit growth; Asia turnaround expected.

• CapEx for FY26 remains at $85m, focused on systems and technology.

• Global passenger traffic forecast to grow 4.9% YoY in 2026; APAC region up 7.3%.