The online travel agency reported mild falls across both total transaction value and bookings. Across all brands for the group, TTV saw a small decrease to $1.457 billion from $1.5 billion in the previous period, while bookings also dropped from 1.53 million to 1.43 million.
Revenue remained very close to last year’s result at $136.4 million, and net profit after tax was one of the brighter spots, with the group improving from $2 million to $3.7 million.
Specifically looking at the OTA division, while it managed to increase the average value of bookings by 3%, the total volume of bookings fell by 9%, while TTV dropped away by 5% as well.
In a further blow to its outlook, industry sources suggest Virgin Australia has cut commissions for OTAs – including Webjet OTA – after it announced the relaunch of its own holiday packaging brand yesterday.
Looking ahead, CEO Katrina Barry said the business expects to see leisure travel remain constrained by higher airfares and lower consumer confidence.
She added that international bookings are likely to continue to flow towards short-haul destinations in Asia and the Pacific.
For 2027, Webjet confirmed its TTV target remains under review in light of market conditions, however it remained focused on investments to capture more of the travel wallet, growing its Webjet Travel Business, investing in AI, and controlling its costs.
MEANWHILE, the investment vehicle associated with Webjet non-executive director Gary Weiss has ended its cooperation agreement with BGH Capital.
Ariadne Australia’s Portfolio Services – associated with Weiss – and BGH Capital’s Oceania Trust have terminated the alliance, which previously allowed the two investment companies to consult with each other about how they would each vote at Webjet shareholder meetings.
Following the move, Ariadne’s disclosed interest in Webjet stands at 5%, with both parties agreeing to act independently and have no agreement relating to Webjet’s affairs.
The cooperation agreement was central to a takeover bid for Webjet by BGH Capital in November last year.
