Full Year 2026 Web Travel Group Ltd Earnings Call Transcript
Key Points
- Web Travel Group Ltd (ASX:WEB) reported a 20% increase in Total Transaction Value (TTV) to $5.8 billion, demonstrating strong market growth.
- The company achieved a 24% rise in EBITDA to $148.4 million, reflecting effective operating leverage.
- Net profit after tax reached $84.9 million, with underlying EPS up 16% from FY25.
- The Americas division showed exceptional performance with bookings up 41% and TTV up 30%, despite FX headwinds.
- AI tools have significantly contributed to operational efficiency, with 50% of TTV growth attributed to improved conversion rates driven by AI pricing.
- The geopolitical conflict in the Middle East has negatively impacted the company's performance, particularly in the APAC and Middle East regions.
- The company faces FX headwinds, particularly from the euro-USD and AUD-euro exchange rates, affecting financial results.
- There is uncertainty regarding the achievement of the previously stated 50% EBITDA margin target for FY27 due to geopolitical instability.
- The company did not declare a dividend for FY26, citing the need to preserve liquidity amid current macroeconomic conditions.
- The Middle East conflict led to higher cancellation rates and a shift to shorter length of stay bookings, impacting overall performance.
Thank you for standing by, and welcome to the Web Travel Group Limited FY26 results briefing. (Operator Instructions)
I would now like to hand the conference over to Mr. John Guscic, Managing Director. Please go ahead.
Welcome everybody to the Web Travel Group full-year '26 results. Joining me today is our CFO, Tony Ristevski, and in a change to the advertised run sheet, Shelley Beasley, our Global Chief Operating Officer, will also present.
Since our launch in 2013, with the obvious exception of COVID, we've consistently outperformed the market. In a satisfying return to form, FY26 has continued that sequence after a disappointing FY25.
If we have a look at slide 3, the most satisfying component of our results this year is our market-leading growth without margin compromise. As we can see, our TTV is up 20% to $5.8 billion. We've continued to increase our market share. In particular, we've been able to do that across the Americas and Europe, and we'll talk
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