Webjet Limited (ASX: WEB) shares have jumped 12.98% higher early on Thursday, up $1.88 to a 52-week high of $16.36.
Webjet announced results for the year ended 30 June 2018, reporting more than $3 billion in Total Transaction Value, up 54% and reporting record EBITDA and profit for the underlying business.
Revenue was $291 million, up 54% while EBITDA was $87.4 million, an increase of 71%. Net profit after tax (NPAT) grew 30% to $43.2 million.
Earnings per share came in at 37.5 cents, up 10% on FY17 and the company has announced it will pay a full year fully franked dividend of 20 cents, up 14%.
Webjet’s Managing Director, John Guscic, 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. Our strong brand is also playing a key role in driving ancillary growth, particularly in packages, car hire and insurance, which helped contribute to the increased TTV margins this year.”
Webjet has reiterated its bookings growth targets for FY19-FY20 for both its B2C and B2B
businesses. It says it will continue to target bookings growth rates of more than 3 times the underlying market for B2C and more than 5 times the underlying market for B2B.
“We also continue to look for opportunities to expand our directly contracted inventory by leveraging existing contracting staff in all regions, as well as through strategic acquisitions,” said Mr Guscic.
Since the beginning of 2018, the Webjet Limited share price has gained 38.83% compared to the S&P/ASX 200 Index, which has gained 3.42% in the period.