Web Travel Group shares jump 14 per cent following release of H1 2025 results

Web Travel Group shares jump 14 per cent following release of H1 2025 results
Sofia Geraghty
By Sofia Geraghty


The share price for Web Travel Group jumped 14 per cent this morning after Web Travel Group released its delayed H1 2025 financial results.

The results are the first since Web Travel Group emerged from B2C business Webjet Group Limited on the 30 September.

Webjet Group reports slump in bookings year-on-year, cites ‘slow’ economy

TTV for the first half of the financial year was up 25 per cent, rising to AU$2.5 billion. Meanwhile, bookings increased 23 per cent to 4.3 million.

Weaker margins partially offset the bookings and TTV growth. Revenue was up just one per cent, rising to $170.4 million and the underlying EBITDA fell 8 per cent to $70 million.

Commenting on the result, WEB Travel Group’s managing director John Guscic said that Web Travel Group had underestimated the impact of the collapse of FTI Group as well as changing market conditions.

“Following a record FY24, WebBeds’ first two months of trading in 1H25 continued to reflect the previous 6-month trading conditions.

“In the period of June and July, TTV margins declined in Europe. The decline coincided with the collapse of FTI Group, the Paris Olympics and European football championships.

“We underestimated this decline and the extent of changing market conditions and customer mix, and underlying margins did not recover in August as anticipated.

“We also underestimated the incentive payments during August (at the time of the AGM) which were $7.5 million higher than planned, representing a decline of 0.3 per cent of the TTV margin in 1H25.”.

Looking forward the Group is continuing to see high levels of growth, he said.

“Concurrent with our TTV target of $10 billion in FY30, we are forecasting our targeted customer, geographic and supplier mix to stabilise with a margin of c. 6.5 per cent for the medium term. Our strong economies of scale are demonstrated by 1H25 delivering the same TTV and Bookings as calendar year 2019, but at c.30 per cent lower cost.

“To ensure higher visibility of future market trends and competition, and following the completion of the demerger, appropriate changes have been completed in management responsibility and accountabilities to sharply refocus market change visibility.

“In the universe of global publicly traded companies, WebBeds remains one of the fastest organically growing travel brands. The business is highly scalable and efficiencies now in place give us confidence we will return to our c. 50% EBITDA margin target in FY26.

“For the first 7 weeks of trading for 2H25, TTV is up 23 per cent and TTV margins were at 6.5% in October. Based on current trading, we expect FY25 EBITDA to be between $117 – $122 million.”

Feature Image: Roger Sharp and John Guscic at the 2023 Webjet-Limited-AGM.

Email the Travel Weekly team at traveldesk@travelweekly.com.au

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