Webjet Limited (ASX: WEB) released its 2018 financial results to the market today revealing a 30% increase in net profit.
Webjet is one of Australia’s largest online travel booking businesses.
Here are some of the highlights from its result:
- Total transaction value (TTV) up 54% to $3 billion
- Revenue up 54% to $291 million
- EBITDA increased by 71% to $87.4 million (click here to learn what EBITDA means)
- Underlying net profit up 63% to $55.7 million
- Net profit up 30% to $43.2 million
- Full year dividend increased by 14% to 20 cents per share
According to Bloomberg, analysts were expecting Webjet to report a profit of $43.6 million. A dividend of 19.6 cents was also expected. The underlying profit appears to have materially beaten the market’s expectations with the share price up 12%.
The Webjet CEO, John Gucic, said: “FY18 was another outstanding year for the company. The Webjet OTA continues to grow share as the #1 OTA and scale benefits are flowing through with significant increases in both TTV and EBITDA margins.”
