Flight Centre Travel Group (FLT) H1 2026 earnings summary

Executive summary

• Achieved record first half with TTV of $12.5b (up 7%), revenue of $1.41b (up 6%), and underlying EBITDA up 9% to $213m; underlying PBT rose 4% to $124.6m, surpassing expectations despite interest headwinds.

• Corporate division delivered record TTV and 20% profit growth, with strong productivity, digital innovation, and a return to profitability in Asia.

• Leisure segment saw 10% TTV growth, profit in line with expectations, and record January, supported by digital, omni-channel, and loyalty initiatives.

• Continued investment in AI, digital platforms, and productivity initiatives, driving operational leverage and customer experience.

• Portfolio simplification ongoing, with divestitures of non-core assets and acquisitions in high-growth sectors like cruise and luxury.

Financial highlights

• TTV grew 7.3% year-over-year to $12.54b; revenue up 6.1% to $1.41b; underlying EBITDA increased 9.1% to $213m; underlying PBT up 4% to $124.6m.

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

• Cost margin at record low 9.6%; productivity per FTE 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.

• Statutory profit after tax was $60.5m (+1.5%); underlying profit after tax increased 4.3% to $84.3m.

Outlook and guidance

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

• Second half expected to deliver 62% of annual profit, with stronger leisure seasonality, Asia turnaround, and productivity gains.

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

• Early 2H trading shows record leisure profit and TTV in January 2026.

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