Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to €1.81, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 6x in the Hospitality industry in Germany. Total loss to shareholders of 53% over the past three years. Announcement • Jun 04
Web Travel Group Limited, Annual General Meeting, Aug 27, 2026 Web Travel Group Limited, Annual General Meeting, Aug 27, 2026. Announcement • Jun 03
Web Travel Group Limited (ASX:WEB) acquired Pruvo Net Ltd. Web Travel Group Limited (ASX:WEB) agreed to acquire Pruvo Net Ltd. for AUD 26.7 million on April 1, 2026. A cash consideration of AUD 26.7 million will be paid by Web Travel Group Limited. The transaction is subject to customary closing conditions is transaction is expected complete during FY27. Pruvo will continue to operate as a standalone company within Web Travel Group.
Web Travel Group Limited (ASX:WEB) completed the acquisition of Pruvo Net Ltd. June 1, 2026. Recent Insider Transactions • May 31
MD & Executive Director recently sold €4.2m worth of stock On the 28th of May, John Guscic sold around 3m shares on-market at roughly €1.56 per share. This transaction amounted to 83% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. John has been a net seller over the last 12 months, reducing personal holdings by €17m. Reported Earnings • May 27
Full year 2026 earnings released: EPS: AU$0.098 (vs AU$0.029 in FY 2025) Full year 2026 results: EPS: AU$0.098 (up from AU$0.029 in FY 2025). Revenue: AU$394.1m (up 20% from FY 2025). Net income: AU$35.5m (up 220% from FY 2025). Profit margin: 9.0% (up from 3.4% in FY 2025). Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Hospitality industry in Germany. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has fallen by 31% per year, which means it is performing significantly worse than earnings. Announcement • Feb 26
Web Travel Group Limited to Report First Half, 2027 Results on Nov 18, 2026 Web Travel Group Limited announced that they will report first half, 2027 results on Nov 18, 2026 Announcement • Nov 03
Web Travel Group Limited to Report First Half, 2026 Results on Nov 19, 2025 Web Travel Group Limited announced that they will report first half, 2026 results on Nov 19, 2025 Announcement • Jun 20
Web Travel Group Limited Announces Board Changes Web Travel Group Limited announced that Melanie Wilson and Paul Scurrah will join the Company's Board as independent Non-Executive Directors, with effect from 1 July 2025, and that Brad Holman will retire as a director from 30 September 2025. Melanie Wilson is an experienced non-executive director with experience across both listed and unlisted companies. She is currently a Non-Executive Director at JB Hi-Fi and Oroton Group, previously chaired Baby Bunting Group and has been a Non-Executive Director of several listed companies including PropertyGuru, EML Payments and iSelect. Melanie will chair the Company's Remuneration and Nomination Committee when Brad Holman retires. Paul Scurrah has over 25 years' leadership experience spanning the aviation, travel, transport and logistics industries. He was previously CEO of Virgin Australia, Pacific National, DP World Australia, Queensland Rail and TravelOnline.com. Paul is currently a Non-Executive Director at RPMGlobal and on the advisory board of the Sports Australia Hall of Fame. He previously chaired WHIZZ Technologies and Australian Tourism Data Warehouse. He also previously held Non-Executive Director roles at Australia Post, Gold Coast Suns AFL Team, Asian Terminals (Manila) and AWH. Brad Holman has been a Non-Executive Director of Web Travel Group since 19 March 2014, Senior Independent Director since 22 February 2017 and Chair of the Company's Remuneration and Nomination Committee since 27 May 2020. Announcement • Jun 03
Web Travel Group Limited, Annual General Meeting, Aug 26, 2025 Web Travel Group Limited, Annual General Meeting, Aug 26, 2025. Announcement • May 28
An undisclosed buyer acquired DMC operations of Web Travel Group Limited (ASX:WEB). An undisclosed buyer entered into an Asset Purchase Agreement to acquire DMC operations of Web Travel Group Limited (ASX:WEB) on March 25, 2025.
The transaction is subject to approval of merger agreement by the board of Web Travel Group Limited. The deal has been approved by the board of Web Travel Group Limited.
An undisclosed buyer completed the acquisition of DMC operations of Web Travel Group Limited (ASX:WEB) on April 30, 2025. Announcement • Dec 18
Web Travel Group Limited Appoints Rachel Wiseman as Independent Non-Executive Director, with Effect from 15 January 2025 Web Travel Group Limited announced that Rachel Wiseman will join the Company's Board as an independent Non-Executive Director, with effect from 15 January 2025. Ms Wiseman has more than 20 years' experience leading transformation and innovation in major organizations across the tourism, technology, media and entertainment industries in Australia, the UK and New Zealand. She is currently CEO, Member Capital at NRMA and has led its strategy to diversify the business from motoring services to include tourism and transport services. Wiseman previously worked as General Manager Commercial Development at Tabcorp Holdings Limited and prior to that was Director Business Affairs for Fox Sports Australia. She started her career as a lawyer, holds an MBA, and is a graduate of the Harvard Business School Advanced Management Program. Announcement • Nov 27
Web Travel Group Limited (ASX:WEB) announces an Equity Buyback for AUD 150 million worth of its shares. Web Travel Group Limited (ASX:WEB) announces a share repurchase program. Under the program, the company will repurchase up to AUD 150 million worth of it's shares. The program will be valid till November 27, 2025. As of November 27, 2024, the company had 392,530,357 shares issued and outstanding. Board Change • Oct 14
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 3 highly experienced directors. Independent Non-Executive Director Denise McComish was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 01
Webjet Limited completed the Spin-Off of Webjet Group Limited (ASX:WJL). Webjet Limited agreed to Spin-Off Webjet B2C on May 22, 2024. The demerger, if pursued and completed, will create two standalone ASX-listed companies. Webjet B2C, Comprising the Company’s B2C businesses, Webjet OTA, GoSee and Trip Ninja. As of June 24, 2024, Katrina Barry has been appointed as Chief Executive Officer of Webjet B2C. As of August 8, 2024, If the Demerger Resolution is approved, eligible shareholders will be entitled to receive one Webjet B2C share for every Webjet Limited share held at the Demerger Record Date being September 24, 2024. Shareholders will also retain their existing Webjet Limited shares. Webjet Limited will also be renamed to WEB Travel Group Limited. The shareholders meeting is scheduled to be held on September 17, 2024. The Webjet Limited Board unanimously recommends that Webjet Limited shareholders vote in favor of the Demerger Resolution to be considered at the EGM. It is expected that B2C shares will commence trading on the ASX on September 23, 2024.
Deloitte Touche Tohmatsu Australia, Deloitte Tax Services Pty Ltd. acted as accountants, DLA Piper Australia Pty Ltd acted as a legal advisor, Goldman Sachs Australia Pty Ltd acted as financial advisor, Computershare Investor Services Pty Limited acted as a transfer agent to Webjet Limited. Automic Pty Ltd. acted as a transfer agent to Webjet B2C.
Webjet Limited completed the Spin-Off of Webjet Group Limited on September 30, 2024. Announcement • Aug 10
Webjet Limited to Report Fiscal Year 2025 Results on May 21, 2025 Webjet Limited announced that they will report fiscal year 2025 results on May 21, 2025 Buy Or Sell Opportunity • Jul 22
Now 22% undervalued Over the last 90 days, the stock has risen 9.8% to €5.40. The fair value is estimated to be €6.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 51% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 20% per annum over the same time period. Board Change • Jun 26
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. Independent Non-Executive Director Denise McComish was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 24
Webjet Limited Announces Executive Changes Webjet Limited (Company) continued to progress the potential separation of its two leading travel divisions, WebBeds and Webjet B2C, via a demerger. The Company announced the appointment of Katrina Barry as CEO of Webjet B2C. Katrina is an experienced technology executive who has held a range of executive roles including most recently as Global CEO of me&u from 2022 to 2024 and prior roles including Managing Director of Contiki Holidays and Trafalgar Tours across Australasia from 2014 to 2022. In her early career, Katrina was a lawyer before joining McKinsey & Company as a management consultant, working with Fortune 500 and ASX100 companies in retail, telecommunications, FMCG and financial services. In addition to her extensive executive experience, Katrina also has a unique understanding of Webjet B2C given her position as a Non-Executive Director of the Company since 2022. Katrina will commence in her new role 24 June 2024 and as such, has stepped down from the Webjet Limited Board effective immediately. Supporting Katrina will be Layton Shannos as CFO for Webjet B2C. Layton brings over a decade of leadership experience across a range of senior finance and corporate roles in the Webjet OTA business, including most recently as CFO of Webjet OTA. New Risk • May 27
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. Reported Earnings • May 22
Full year 2024 earnings released: EPS: AU$0.19 (vs AU$0.038 in FY 2023) Full year 2024 results: EPS: AU$0.19 (up from AU$0.038 in FY 2023). Revenue: AU$471.5m (up 29% from FY 2023). Net income: AU$72.7m (up 401% from FY 2023). Profit margin: 15% (up from 4.0% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the Hospitality industry in Germany. Over the last 3 years on average, earnings per share has increased by 156% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Announcement • May 18
Webjet Limited to Report First Half, 2025 Results on Nov 25, 2024 Webjet Limited announced that they will report first half, 2025 results on Nov 25, 2024 Announcement • May 03
Webjet Limited, Annual General Meeting, Aug 29, 2024 Webjet Limited, Annual General Meeting, Aug 29, 2024, at 09:00 E. Australia Standard Time. Valuation Update With 7 Day Price Move • Mar 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €5.35, the stock trades at a forward P/E ratio of 30x. Average trailing P/E is 22x in the Hospitality industry in Germany. Total returns to shareholders of 50% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €5.20 per share. Reported Earnings • Nov 23
First half 2024 earnings released: EPS: AU$0.12 (vs AU$0.011 in 1H 2023) First half 2024 results: EPS: AU$0.12 (up from AU$0.011 in 1H 2023). Revenue: AU$244.5m (up 39% from 1H 2023). Net income: AU$47.3m (up AU$43.3m from 1H 2023). Profit margin: 19% (up from 2.3% in 1H 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Hospitality industry in Germany. Over the last 3 years on average, earnings per share has increased by 121% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Nov 22
Webjet Limited to Report Fiscal Year 2024 Results on May 22, 2024 Webjet Limited announced that they will report fiscal year 2024 results on May 22, 2024 Announcement • Oct 13
Webjet Limited Announces Executive Appointments Webjet Limited announced that Shelley Roberts will resign as a non-executive Director effective from the release of company's half year results on 22 November 2023. Shelley has been a non-executive Director of Webjet since April 2016 and a member of the Audit and Remunerationand Nomination Committees. In 2021 Shelley moved to the UK where she now resides. Katrina Barry, who commenced on the board in October 2022, will join the Audit Committee. Reported Earnings • May 24
Full year 2023 earnings released: EPS: AU$0.038 (vs AU$0.22 loss in FY 2022) Full year 2023 results: EPS: AU$0.038 (up from AU$0.22 loss in FY 2022). Revenue: AU$364.4m (up 163% from FY 2022). Net income: AU$14.5m (up AU$99.5m from FY 2022). Profit margin: 4.0% (up from net loss in FY 2022). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Hospitality industry in Germany. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Announcement • May 19
Webjet Limited to Report Fiscal Year 2023 Results on May 24, 2023 Webjet Limited announced that they will report fiscal year 2023 results on May 24, 2023 Announcement • May 11
Webjet Limited Announces the Appointment of Meaghan Simpson as Joint Company Secretary Webjet Limited announced the appointment of Ms Meaghan Simpson as Joint Company Secretary, effective 10 May 2023. The current Joint Company Secretary, Ms Ella Zhao, is taking parental leave commencing 25 May 2023. Announcement • Feb 02
Webjet Limited to Report First Half, 2024 Results on Nov 23, 2023 Webjet Limited announced that they will report first half, 2024 results on Nov 23, 2023 Announcement • Dec 21
Webjet Limited, Annual General Meeting, Aug 31, 2023 Webjet Limited, Annual General Meeting, Aug 31, 2023. Recent Insider Transactions • Dec 15
Independent Non-Executive Chairman recently sold €162k worth of stock On the 8th of December, Roger Sharp sold around 40k shares on-market at roughly €4.04 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Roger's only on-market trade for the last 12 months. Reported Earnings • Nov 18
First half 2023 earnings released: EPS: AU$0.011 (vs AU$0.061 loss in 1H 2022) First half 2023 results: EPS: AU$0.011 (up from AU$0.061 loss in 1H 2022). Revenue: AU$175.8m (up 112% from 1H 2022). Net income: AU$4.00m (up AU$27.2m from 1H 2022). Profit margin: 2.3% (up from net loss in 1H 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Hospitality industry in Germany. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 18% per year, which means it is performing significantly worse than earnings. Reported Earnings • May 20
Full year 2022 earnings released: AU$0.22 loss per share (vs AU$0.60 loss in FY 2021) Full year 2022 results: AU$0.22 loss per share (up from AU$0.60 loss in FY 2021). Revenue: AU$138.7m (up 169% from FY 2021). Net loss: AU$85.0m (loss narrowed 59% from FY 2021). Over the next year, revenue is forecast to grow 135%, compared to a 36% growth forecast for the restaurants industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 51 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 19
First half 2021 earnings released: AU$0.39 loss per share (vs AU$0.066 profit in 1H 2020) The company reported a poor first half result with weaker earnings, revenues and control over costs. First half 2021 results: Revenue: AU$22.9m (down 90% from 1H 2020). Net loss: AU$132.2m (down AU$141.2m from profit in 1H 2020). Over the last 3 years on average, earnings per share has fallen by 94% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Feb 19
Revenue misses expectations Revenue missed analyst estimates by 9.2%. Over the next year, revenue is forecast to grow 143%, compared to a 54% growth forecast for the Online Retail industry in Germany. Is New 90 Day High Low • Nov 07
New 90-day high: €2.54 The company is up 36% from its price of €1.87 on 07 August 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Online Retail industry, which is up 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.77 per share. Is New 90 Day High Low • Oct 07
New 90-day high: €2.50 The company is up 30% from its price of €1.92 on 09 July 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Online Retail industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.32 per share. 
