Web Travel Group Ltd (OTCPK:WEBJF)

$ 0.93 -4.07 (-81.4%) Market Cap: 1.13 Bil Enterprise Value: 916.91 Mil PE Ratio: 7.81 PB Ratio: 2.55 GF Score: 64/100

Full Year 2022 Webjet Ltd Earnings Call Transcript

May 18, 2022 / 11:00PM GMT

Release Date Price: $3.73

Transcript

Operator

Good morning, and welcome to the Webjet Limited Financial Year '22 Results Briefing Conference Call. Today, you are able to view the briefing via webcast and listen via webcast or teleconference.

At this time, I would like to turn the call over to Mr. John Guscic, Webjet Limited's Managing Director. Please go ahead.

John Guscic

Webjet Limited - MD & Executive Director

Thank you, operator. Guess who's back? Travel's back, baby. Welcome to the Webjet Financial year '22 results. Joining me is our CFO, Tony Ristevski.

Let's go to the first slide. So big news is that in the second half, we've returned to profit driven by both WebBeds and the OTA business being profitable in the second half. As we foreshadowed over the course of the last 2 years when we made strategic initiatives for our businesses to reduce costs, we're seeing cost efficiencies coming through as the business returns to scale. Most importantly, the business generated substantial cash during the year, a circa $10 million turnaround per month compared to financial year 2021.

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