Webjet returns to profit in 2H FY2022; Reports strong growth in TTV and Revenue

Webjet Limited (ASX: WEB) has released its FY2022 results for the period ended 31 March 2022. FY2022 witnessed the business turn around, delivering a profitable 2H FY2022 driven by WebBeds and Webjet OTA.

• WebBeds profitable in 2H FY2022 driven by North American and European markets. The cost reduced by 31% compared to the pre-COVID-19 levels. It is expected to be 20% more cost efficient when back at scale.
• TTV and Revenue were up materially by 262% and 466% respectively, compared to the previous corresponding period.
• FY2022 Underlying EBITDA loss of AU$15 million reflected an AU$103 million improvement compared to the 12 months to 31 March 2021.
• GoSee, formerly known as Online Republic continued to be impacted by State and International border closures during the period.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Maven Capital Pty Ltd (AFSL No. 418504). The information contained in this article is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Suite 1A, Level 2, 802-808 Pacific Highway, Gordon NSW 2072, Australia | 1800 005 780 | info@kapitales.com.au