Experience (EXP) Q1 2027 TU earnings summary

Executive summary

• Positive start to FY27: Q1 continuing-operations revenue rose 6% YoY to $32.8m and underlying EBITDA rose 20% to $4.8m.

• September trading strengthened after weather-impacted August, with revenue growth in both segments and underlying earnings growth led by Skydiving.

Financial highlights

• Q1 27 revenue was $32.8m vs. $30.9m in Q1 26; underlying EBITDA was $4.8m vs. $4.0m, and underlying EBIT was $1.7m vs. $1.2m.

• Group underlying EBITDA margin improved modestly, as Skydiving operating leverage offset some Adventure Experiences margin pressure.

Outlook and guidance

• October Golden Week trading was strong for Skydive Australia and Skydive New Zealand; Reef Unlimited bookings were strong, though regional visitation affected trading.

• Treetops Adventure volumes remained below PCP to date, with management focused on yield; New Zealand and both Skydive Australia drop zones had bookings ahead of PCP at quarter-end.