Webjet Limited ( (WEBJF) ) has released its Q2 earnings. Here is a breakdown of the information Webjet Limited presented to its investors.
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WEB Travel Group Limited, known for its extensive B2B travel business under the WebBeds brand, is a prominent player in the global travel industry, providing hotel distribution solutions and ground travel services.
In the latest half-year financial report for the period ending September 30, 2024, WEB Travel Group Limited highlighted a significant corporate restructuring through the demerger of its B2C businesses, Webjet OTA and GoSee, into a separate entity, Webjet Group Limited. This strategic move was completed successfully with strong shareholder support, allowing the company to focus on its core B2B operations.
Financially, the company demonstrated strong transactional growth in its continuing operations, with a 25% increase in Total Transaction Value (TTV) to $2.6 billion, driven by robust regional performance. However, the underlying EBITDA saw an 8% decline to $70 million, influenced by lower transaction margins. Despite these challenges, the demerger significantly boosted net profit after tax to $228.1 million, largely due to gains from discontinued operations.
Looking ahead, WEB Travel Group Limited remains optimistic about its future, leveraging the demerger to streamline operations and focus on enhancing its B2B offerings. The management believes this strategic realignment will create long-term value for shareholders, enabling more focused operational structures and strategies.
