ORGANIC growth has driven a record booking and TTV result for Webjet Limited, with both metrics, along with revenue and EBITDA, up significantly compared to the same period last year, the company reported this week.
Underlying EBITDA totalled $134.8 million, reflecting a $150 million turnaround from the prior fiscal year, and underlying NPAT was $69.9 million.
In addition to TTV, Webjet also delivered second half group bookings, revenue, and EBITDA results which were all ahead of pre-pandemic levels, driven by the WebBeds business.
The online hotel marketplace was ahead of pre-pandemic levels on all key metrics for FY23, with momentum accelerating in the second half of the year.
WebBeds’ FY23 EBITDA was $117.1 million, 22% ahead of pre-pandemic levels, while 2H23 EBITDA was 130% ahead of pre-pandemic levels.
Webjet’s GoSee business’ profitability is also increasing, recording a FY23 EBITDA of $1.6 million, up $4.6 million over the prior fiscal year’s loss.
However, the comparison shopping platform continues to be impacted by a lack of inbound tourism and supply chain issues in its largest markets.
Webjet’s cash position is strong, with $514 million on hand at the end of March, after repaying an $86 million bank debt.
The company said it foresees significant growth opportunities in all of its businesses and a strong start to trading for the coming fiscal year.