Webjet Ltd (ASX:WEB)
A$ 8.67 -0.23 (-2.58%) Market Cap: 3.37 Bil Enterprise Value: 2.94 Bil PE Ratio: 132.84 PB Ratio: 3.67 GF Score: 68/100
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Full Year 2023 Webjet Ltd Earnings Call Transcript

May 23, 2023 / 11:00PM GMT
Release Date Price: A$7.3 (-2.14%)
Operator

Thank you for standing by, and welcome to the Webjet Limited FY '23 Results Briefing. (Operator Instructions) I would now like to hand the conference over to Mr. John Guscic, Managing Director. Please go ahead.

John Guscic
Webjet Limited - MD & Executive Director

Thank you, Rachel. Like a Porsche with no brake, Webjet is unstoppable. Thank you for joining Webjet's FY '23 results presentation. Joining me today is Tony Ristevski, our CFO. Now let's get stuck into the results.

Six months ago, we forecast that in FY '24, we would exceed pre-COVID profitability. Well, we've done it 6 months earlier. In the second half of FY '23, we were more profitable and in pre-pandemic period. We've done it purely on organic business growth. We've achieved it even after closing 2 business units in GoSee Cruise division and Webjet Exclusives, all of which are included in the pre-COVID compare. We have overcome FX headwinds of circa $3 million in the second half. We've dealt with a stagnating airline capacity in Australia. And in that environment, Webjet has delivered

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