Webjet Group (WJL) H2 2026 earnings summary

Executive summary

• Delivered FY26 Underlying EBITDA of $28.1m and Statutory NPAT of $3.7m amid challenging macro conditions, with significant investment in brand, technology, and talent.

• Cars & Motorhomes achieved a significant turnaround, with EBITDA up 169% to $4.3m.

• Maintained a strong balance sheet: net cash of $93.9m, no borrowings, and net assets of $138.4m.

• Paid fully franked FY26 dividends of 4.0 cps, exceeding 100% of underlying NPAT, and commenced an on-market share buy-back.

• Strategic investments included a brand relaunch, Locomote acquisition (Webjet Business Travel), and technology upgrades.

Financial highlights

• Group revenue was $136.4m, up 1% year-over-year; TTV was $1.46bn, down 3%.

• Underlying EBITDA was $28.1m, down 20%; underlying NPAT was $13.6m, down 24%; statutory NPAT was $3.7m, up 85%.

• Revenue/TTV margin was 9.4%; underlying EBITDA margin for OTA was 33.6%.

• EPS increased to 0.94 cents (statutory) and 3.46 cents (underlying).

• Operating cash flow conversion was 102%, above guidance.

Outlook and guidance

• FY27 expected to be challenging due to lower airline commissions, RBA surcharging regulation changes, and softer variable revenue.

• Bookings and TTV down 12% and 15% respectively since May 2026; international shift to short-haul, domestic constrained by high fares and low confidence.

• Cars & Motorhomes bookings and TTV down 5%, but global motorhome footprint expanding.

• Webjet Business Travel bookings and TTV up ~20%, with strong sales pipeline and customer growth.

• Strategic priorities and mission to double TTV remain unchanged, but timing is under review.