1 / 27

Investor Presentation

Investor Presentation. Information for Professional Investors - please see Disclaimer. Presentation. Online Travel – Internationally The Webjet Model Webjet Results and Forecasts Base Forecast Gulf Impact Margin Improvement Capital Raising Why Invest?.

libra
Télécharger la présentation

Investor Presentation

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Investor Presentation Information for Professional Investors - please see Disclaimer

  2. Presentation • Online Travel – Internationally • The Webjet Model • Webjet Results and Forecasts • Base Forecast • Gulf Impact • Margin Improvement • Capital Raising • Why Invest?

  3. Online Travel is Growing at Four Times Normal Travel • The worldwide online travel market is growing at 30% per annum. • The value of U.S. online travel will grow from US$25 billion in 2001 to around US$65 billion by 2005. Source: PhoCus Wright

  4. US$ US Online Travel to grow from 12% to 26% by 2005

  5. International Comparisons2002 v 2001 Results • Expedia – US/EU • Gross Sales 5.3B up 82% • Net income 66M v 21M loss • Hotels Sales up 156% and tour packages up 170% • Ebookers – EU • Gross Sales 273M up 52% • Net loss 12M v 26M loss - halved • Hotels Sales up 124% and tour packages up 163%

  6. Overseas Travel Stocks – Expedia (US) and ebookers (EU) Sept 11 Gulf

  7. Expedia Outperforms the Dow Jones

  8. Webjet Model • Pure online travel company • Local version of high growth overseas players • Low cost base allows revenue growth to flow to bottom line • Strategic Galileo alliance and shareholding ensures access to air inventory • Broadening base into high growth hotel and tour package sales

  9. Webjet – Broadening Distribution • Hotels • Launching ‘Bookabed’ website • Worldres relationship • Galileo/Cendant relationship • Travel Industry • White Label other Travel Brands • Technology • Dynamic Packaging • Galileo/Microsoft relationship

  10. Online Travel Stocks - Australia Gulf

  11. Gulf War Impact – Sales A$M Defensive earnings base – 65% Webjet sales are domestic travel

  12. Financial Scenarios • Scaleable Model • Base Line • Gulf Impact • Margin Improvement • What If Graph • Impact New Land Arrangements

  13. Scaleable Business Model 20 18 16 Net Revenue 14 Total Expenses $m p.a 12 10 Net Profit 8 6 4 2 2002 2003 2004 2005 Financial Year

  14. Base Line - What If Scenario

  15. Gulf Impact - What If Scenario • Assumes Gulf War Impact on Travel Limited to First Half 2003

  16. Margin Improvement - What If Scenario • Assumes that Margin Improvement first reflects in 2H 03 • and is sustainable • Expected higher margins from tour package and hotel sales in 1H 04 • excluded, as is any development cost

  17. What If Scenarios

  18. Broader Land Distribution - What If Scenario • Assumes Aggregate Impact of New Land Arrangements • Bookabed, Galileo/Cendant,Dynamic Packaging • Land Margins of 8% • Tapering Off of Existing Business Growth Rates • TSA Platform estimated cost of $2M amortised over 5 years

  19. Broader Land Distribution - Next 2 Years What If Gross Sales Axis Net Profit Axis Breakeven

  20. Capital Raising • Raising $3.6M • Galileo contributing $1.8M to grow their shareholding from 4% to 20% • Webjet will raise $1.8M via Institutional placement and Shareholder Purchase Plan (SPP - underwritten by Intersuisse). • Webjet has completed arrangements for $1.0M • Price = 5 cents per share • SPP closes 24 April 2003

  21. Funds to be Used For • Strengthen Balance Sheet - $1.8M • Microsoft (MS) Development - $1.8M • MS Dynamic Packaging Development • Overseas Growth Model • Higher Margins from Hotels and Tour Packaging • E.g margins of 8-10% v 7-8% on Air • To be completed at MS Development Center in Sydney • By early 2004

  22. Galileo • Wholly owned subsidiary of Cendant Corp (NYSE:CD). Market Cap 14 Billion. • Has market share of one third of all automated travel reservations worldwide. Competitors are Sabre/Amadeus • Galileo provides 45,000 travel agents access & bookings for • 501 airlines • 31 car rental companies • 51,000 hotel properties • 400 plus tour operators and all major cruise lines.

  23. Cendant Travel Services

  24. Significance of Galileo to Webjet • Ability to leverage off Galileo’s global footprint. • Offers a superior booking interface, with increased reservation capacity and functionality. • Access to Cendant Group companies such as Avis, Budget, Best Western Hotels and RCI timeshare. • Establishes Webjet as launch partner in Australia for Galileo’s Trip.com business, offering cross referral of customers and products.

  25. Attractions of the Webjet Model • Proven Sustainable Business Model • Overseas Online Travel Parallels to follow • Online travel model is here to Stay • Webjet is the Australian Market Leader • Scaleable model - High Growth at low Marginal Cost • Improving Margins • Distribution Base Improving – Industry Rationalising • Move into Dynamic Packing with Microsoft/Galileo Information for Professional Investors - please see Disclaimer

  26. Appendix - 20 Largest Shareholders Pre-Funding

  27. Directors and Management • Allan Nahum – Chairman, Current Partner Meyrick Webster • David Clarke – MD, former CEO Jetset Travel • Ben Lochtenberg – Deputy Chairman former Chairman, Orica Ltd • John Lemish – Operations Director, 20 yrs travel industry experience • Steven Scheuer – Non Exec Director • Dean Maidment– Business Development Mgr • Richard Noon - Corporate Affairs, 25 yrs travel

More Related