How are Webjet's (ASX:WEB) shares faring post H1FY23 update?

November 17, 2022 12:04 PM AEDT | By Ritwika
Follow us on Google News:

Highlights: 

  • Webjet reported AU$72.5 million in underlying group EBITDA in H1FY23. 
  • Webjet’s shares were trading over 7% higher on ASX at 11:06 AM AEDT today. 

Today, the Australian airline company Webjet Limited (ASX:WEB) announced the financial results for the first half of the financial year 2023 (H1 FY23), reporting an underlying group EBITDA of AU$72.5 million in the same period. 

Followed by the release of the H1FY23 update, Webjet’s share price went up by 7.473% on ASX to AU$6.04 per share as of 11:06 AM AEDT today (17 November 2022). 

Meanwhile, in the last one year, Webjet’s share price declined slightly by 0.81% on ASX. However, on a YTD basis, its share price appreciated over 12% on ASX (as of 11:06 AM AEDT today). 

Details of Webjet’s H1FY23 result: 

  • In H1 FY23, Webjet delivered a group underlying EBITDA of AU$72.5 million. Flight bookings in this half have bounced back to the pre-pandemic level. 
  • Webjet’s WebBeds global performance has driven the group result, as it delivered an EBITDA of AU$63.7 million in H1 FY23, with an EBITDA margin over 55% ahead of pre-pandemic levels. 
  • Webjet OTA flights market share has gone up 57% since the beginning of the pandemic. 
  • OTA flights have delivered an EBITDA of AU$21.4 million in H1FY23. 
  • Webjet’s GoSee delivered an EBITDA of AU$0.6 million despite a lack of inbound tourism and supply chain issues in its largest markets.  
  • In the given period, Webjet has generated AU$168 million in cash from operations. 
  • The company has repaid a term debt of AU$86 million term debt in H1FY23.  
  • Webjet’s WebBeds is progressing towards exceeding pre-pandemic profitability for FY23.

 

John Guscic, Managing Director, Webjet, said: 

Webjet’s outlook for FY23: 

Webjet said that WebBeds is likely to exceed pre-pandemic profitability in FY23. The company expects the EBITDA in H2 FY23 to exceed at least AU$10 million from that of the pre-pandemic levels.

On the other hand, Webjet expects its H2 FY23 profitability to be consistent with H1 FY23 for the B2C businesses, reflecting the macroeconomic environment.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.



Top ASX Listed Companies

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK