Webjet’s Chairman Roger Sharp has issued his annual report letter this morning, and it shows quite a good year for the OTA.
The company posted a earnings before interest and tax of %51 million, up more than 40 per cent on 2016 results.
“FY 2017 was a milestone year for Webjet Limited, with strong organics growth in bookings, revenues and profit,” Sharp said.
“Our customers’ activity tells the story succinctly: three-year CAGR in organic travel bookings is 26 per cent across the business and 36 per cent after acquisitions.
“Webjet’s OTA business delivered an impressive performance with domestic and international flight bookings growing more than six times the market rate in Australia.”
Sharp zoned in on the company acquisitions, in particular the major B2B business, JacTravel, which now sits the WebBeds division as the second strongest B2B hotels business in the world.
“Online Republic, now fully integrated, delivered robust bookings growth and has provided car hire to the Webjet OTA since January 2017,” he said.
“The sale of Zuji in Singapore and Hong Kong in December 2016 generated a capital profit of $28 million, allowing us to focus on higher growth B2B opportunities in the Asian market.
“The foundations have been laid for continuing growth,” Sharp concluded.