Webjet Group (WJL) H2 2025 earnings summary

Executive summary

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

• Completed demerger from Web Travel Group on 30 September 2024, now operating as a standalone listed company with predecessor accounting for continuity.

• Strategic plan in place to drive growth to FY30, focusing on international expansion, ancillary revenue, and technology innovation.

• Corporate overheads declined due to transition to standalone structure post-demerger.

Financial highlights

• Group revenue: $139.7 million (down 3% year-over-year); underlying EBITDA: $39.4 million (up 1%); underlying NPAT: $20.9 million (up 18%).

• Group bookings: 1.53 million (down 7%); TTV: $1.5 billion (down 6%).

• Net cash position: $118.1 million as of 31 March 2025; business remains debt-free.

• EBITDA margin: 28.2%; revenue/TTV margin: 9.3%.

• No dividend declared for FY25 due to lack of franking credits; dividends to commence in FY26 with a 40–60% payout ratio.

Outlook and guidance

• FY26 underlying EBITDA expected to be broadly in line with FY25, with investment of up to $15 million planned to support strategic growth.

• Dividends to commence in FY26; share buyback deferred due to recent M&A interest from BGH Capital.

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

• International bookings targeted to grow to 25–30% of total; focus on expanding hotels, packages, and business travel.