Half Year 2026 Tourism Holdings Ltd Earnings Call Transcript
Key Points
- Tourism Holdings Ltd (ASX:THL) reported an 11% increase in services revenue, primarily driven by strong rental revenue.
- The company is on track to reduce net debt to below $400 million by year-end, with a debt-to-EBITDA ratio under two.
- New Zealand is expected to have a record result, with forward bookings well over 20% and a strong outlook for the full financial year.
- Canada has shown a positive situation with forward bookings up over 30%, contributing to the overall positive outlook.
- The company declared an interim dividend of $0.03 per share, up 20% from the prior year, with expectations for the full year dividend to increase by around 55% year on year.
- Sales have been a drag over the last few years, with a rapid decline in volumes, although some stabilization is now being observed.
- The USA market remains uncertain, with international visitors staying away, impacting both rentals and vehicle sales.
- The UK business, despite a positive half, was divested, impacting high season earnings.
- The North American market continues to face challenges, with the company needing to maintain strong discipline on return on funds employed.
- Australia's retail market is still tough, with competition from Chinese products taking market share, particularly in the towable space.
Thank you for standing by, and welcome to the Tourism Holdings Limited half year results conference. (Operator Instructions)
I would now like to hand the conference over to Mr. Grant Webster, Chief Executive. Please go ahead.
Thank you, Amy. I appreciate that introduction. Thank you all for your attendance. As always, it really is appreciated.
I have here with me today, Ollie Farnsworth, Steven Hall, and Amir Ansari. You know their roles and they will jump in as appropriate. Ollie will be sharing the presentation with me as we go through and then look forward to the inevitable Q&A at the end, which we will leave plenty of time for.
So I just wanted to start with the presentation with some key messages that we wanted to get across today. really the summary of the position of THL from my perspective. We do feel that we are in a positive place. The core of the business, the rentals activity has been strong in the
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