WEB Achieves Record Bookings and TTV Driven by Organic Growth

On 24 May 2023, Webjet Limited (ASX: WEB) unveils its FY23 Financial results. It highlights an impressive FY23 turnaround, with underlying EBITDA of AU$134.8 million, an AU$150.0 million improvement from FY22's loss of AU$15 million. WebBeds drives growth, surpassing pre-pandemic levels across all key metrics, with FY23 EBITDA of AU$117.1 million (22% higher) and a 49.50% margin.

Webjet OTA sees a strong international rebound, gaining market share despite high prices and capacity constraints, reporting FY23 EBITDA of AU$43.4 million (71% of pre-pandemic levels) and a 40.30% margin. GoSee's profitability increases to FY23 EBITDA of AU$1.6 million, up AU$4.6 million from FY22, though impacted by tourism and supply chain challenges. The company maintains a strong cash position of AU$514.0 million after repaying AU$86.0 million in bank debt by March 31, 2023.

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