FY26: Market-leading growth without margin compromise.

Web Travel Group (ASX:WEB) today announced its financial results for the 12 months to 31 March 2026, with TTV up 20% to $5.8 billion, Revenue up 20% to $394.1 million and TTV margins 6.8%. WebBeds EBITDA up 24% to $172.7 million and Underlying Group EBITDA up 23% to $148.4 million with $1 billion incremental TTV delivered at improved margin.

• Market leading TTV growth continues – TTV up 20% on FY25 driven by significant organic growth in the Americas and Europe.
• Improved TTV margins – FY26 TTV margin 6.8% (FY25: 6.7%;). 2H26 TTV margin 7.1% (2H25: 6.9%)
• Americas and Europe the standout regions – FY26 Bookings up 41% and 19% on FY25 respectively;
• WebBeds EBITDA up 24% to $172.7 million - FY26 EBITDA margin 43.8% (FY25:42.3%)
• Significant free cash flow generation from scalable business model - $132.4 million cash from operations; 107% cash conversion (FY25: 73%)
• Strong pro forma liquidity post Convertible Note redemption – $250 million Convertible Notes redeemed post period end. Circa $500 million pro forma liquidity post redemption ($398.1 million cash and $100 million undrawn RCF)

Web Travel Group’s results for FY26 saw Bookings, Total Transaction Value (TTV), Revenue, earnings before interest, tax, depreciation and amortisation (EBITDA), Net profit after tax (NPAT) and earnings per share (EPS) all up compared to FY25. Full details available in the Managing Director's Presentation, below.

WebBeds Key Metrics.

Commenting on the result, Web Travel Group Managing Director John Guscic said:

“FY26 was a terrific year for the WebBeds business. We continue to win share, TTV margins continue to improve, and our scalable business model is delivering higher operating leverage. WebBeds’ EBITDA margin remains world class.

We have been able to maintain our market-leading TTV growth rate with no margin pressure. WebBeds delivered $1 billion incremental TTV [1] this year at an improved margin compared with last year, demonstrating disciplined growth and margin resilience.  This impressive result was delivered in an environment where the conflict in the Middle East placed downward pressure on Bookings and TTV in March 2026.

The key driver of our FY26 result was the outstanding performance of our Americas business which saw Bookings 41% higher than the previous year.  Europe also performed well with Bookings up 19%. While APAC and MEA were both impacted by the conflict in the Middle East, both regions increased Bookings during the period. We continue to gain share by expanding our existing portfolio, winning new customers, enhancing supply sources, extending geographic reach and improving conversions. This is a direct result of the skill, dedication and focused execution from our teams around the world.

We continue to see exciting growth opportunities however the current trading environment remains uncertain. Trading conditions continue to be impacted by geopolitical instability in the Middle East particularly across MEA and parts of APAC. While the operating environment remains uncertain, we continue to demonstrate resilience across a number of key markets.

For the first 8 weeks of FY27 trading Bookings were up 6%, TTV was up 4% in constant currency and down 6% in Australian dollars compared to the same period last year. Americas and Europe continue to deliver growth but the conflict continues to have a material impact on MEA and, to a lesser extent, APAC.  Importantly we continue to expect FY27 TTV margins of at least 6.5%, reflecting ongoing pricing discipline and resilience in the underlying business model.

While the duration and broader macroeconomic impacts of the conflict remain uncertain, we remain well positioned to benefit from any recovery in travel activity across affected regions and continue to expect long term growth in Bookings and TTV consistent with historical trends.”

[1] Excluding TTV from DMC operations sold in April 2025 to provide a like-for-like comparison of the underlying business

Commenting on recent capital management initiatives, Web Travel Group’s Chair Roger Sharp said:

“The conversion date for the Company’s $250 million Convertible Notes ended on 25 March 2026 and after balance date, all outstanding Notes were redeemed on 12 April 2026. Redemption was from a combination of existing cash and revolving credit facility.  Following redemption, we continue to have strong liquidity based on working capital and undrawn credit lines, providing us with the flexibility to pursue any attractive M&A opportunities that might arise in the current economic climate.

The Board constantly evaluates a range of capital management opportunities. Our capital management priority is growth - organic and inorganic - supported by a conservative balance sheet that preserves optionality as market conditions evolve. Given the current level of geopolitical and economic uncertainty, at this time we believe it is appropriate to maintain a conservative balance sheet and prudent cash reserves.”

Further information on FY26 performance is set out in Web Travel Group’s FY26 Investor Presentation and Financial Report for the year ended 31 March 2026.