Webjet Limited (ASX: WEB) has provided FY20 guidance at its FY19 Annual General Meeting (AGM).
In FY20, the company expects:
- Underlying EBITDA to be in the range of $157 million to $167 million.
- First- half underlying EBITDA of minimum $80 million.
- Corporate costs to increase by 5% to 10% over FY 2019.
Taking into the consideration the collapse of a major customer, Thomas Cook, of its WebBeds business, Webjet expects a negative impact of $7 million on its FY20 EBITDA. Further, the company expects that it wont be able to recover receivables of around $44 million.
By 1:08 PM AEST, WEB was trading at $12.84, up by 3.21% relative to the previous close.