Webjet has released its earnings for the six months up to 30 September where it has revealed that WebBeds’ booking volume was 50 per cent higher than pre-pandemic levels.
WebBeds reported that in 1H24 it was 41 per cent higher than the corresponding period for 2023 and 23 per cent higher than pre-pandemic levels. This resulted in an overall earnings before interest, taxation, debt and amortization (EBITDA) of $89.9 million.
The Webjet group delivered a 1H24 EBITDA of $102.1m, an increase of 41 per cent over 1H23
Webjet’s managing director John Guscic attributed the positive result to the transformation work the group undertook when the pandemic hit to capture growth as travel returned.
“As a result, we are now selling more product to more customers in more geographies, all while being more efficient and delivering best-in-class EBITDA margins,” Guscic said.
Webjets’ total transaction value (TTV) has returned to pre-pandemic level and GoSee, its car and campervan rental arm, has seen strong improvement over its 1H23 performance despite supply chain issues and constraints on inbound tourism.
The group generated $144m in cash during this period and has $634m in total cash.
“The global economy remains uncertain but global demand for travel remains resilient and notwithstanding the current geo-political issues, we expect FY24 EBITDA to significantly exceed pre-pandemic levels,” Guscic said.
The OTA predicts its FY24 EBITDA to be between $180-190m.