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20 February, 2023

Helloworld reveals agent comeback amid strong financial results posting

Helloworld today released its 1H23 financial results which showed a promising outlook for the group and travel agents as it recovers from the pandemic.

Helloworld’s TTV from increased by 209.4 per cent to $1,208 million for the six months up to 31 December 2022 compared to the prior corresponding period (PCP).

The group reported an underlying EBITDA of $15.6m and declared a dividend of 2 cents per share, to be paid on 23 March. Helloworld’s total revenue and other income came to $73.2m, up 151 per cent of the PCP.

In a statement to the ASX, Helloworld said the promising result “reflects the strong demand from the travelling public, domestic and international borders returning to normal, Helloworld’s strong product offering and the incredible efforts of our agency networks to service their customer base.

“Booking volumes are expected to continue to increase as prices normalise and capacity returns with airlines and tour operators continuing to on-board further resources to meet demand.”

The group noted that the demand for its agents services by those wishing to travel continues to outstrip agent availability. It also commended the resilience of its agent networks and the dedication of the owners, managers and consultants who continue to support their customers day in and day out.

Helloworld also mentioned that many consultants who left the industry are seeking to return as the travel industry continues to recover. The group attributes this in part to Helloworld’s advertising campaign, which brought agents to Aussie screens, and enhancements mid-office system, Resworld, and technology improvements to its wholesale and air consolidation systems.

Across the industry, leisure air ticket volumes (domestic and international) in AU and NZ averaged 65-75 per cent of 2019 levels during 1H FY23. Agency booking volumes in AU are back to 2019 levels (67%) and OTA volumes are at 31 per cent, while in NZ, agency booking volumes are now at 77 per cent (up 5 per cent on 2019) and OTA volumes are down 5 per cent to 19 per cent. From a TTV perspective, lower volume is being offset by higher ticket pricing. Availability is increasing and prices are expected to stabilise throughout CY23.

Alongside this, the wholesale and destination management (inbound) businesses saw strong growth during the period as product offerings continue to become available and more leisure travel takes place. Also, the transport, logistics and warehousing segment saw strong growth in revenues as Helloworld grew its fleet.

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