Webjet Group reports fall in first-half bookings
Make us a preferred source
Make us a preferred source on Google
The news: Webjet Group posted a fall in bookings during its first reporting period since splitting from Webjet and listing as a standalone ASX listed company in September.
The numbers: The online travel group, reporting "as if it had always operating independently" to its predecessor, recorded an 8% drop in bookings for the first half of FY25. Total transaction value (TTV) fell 8% year on year as revenue (-1%) edged down and EBITDA (1%) grew.
Group net profit rose to $9.2 million from $9.0 million in the same half of the previous year.
The context: Webjet said that first-half bookings, TTV and revenue all lowered compared to the same period last year, reflecting the "challenging macroeconomic conditions impacting domestic flight bookings".
Webjet shares have shaved more than 5% over the last week after the company delayed the release of its first-half earnings, saying it needed more time to address technical accounting considerations as a result of the "significant complexities" of its demerger with Webjet, now named Web Travel Group.
What they said: "The Australasian economy remains slow, and the ongoing cost of living pressures continue to subdue demand for travel, particularly for domestic flights," Webjet managing director Katrina Barry said.
The source: ASX announcement
