Why Did Web Travel Group (ASX:WEB) Upgrade 1H27 Guidance, and What Does the S&P/ASX 200 Travel Company Now Expect for Margins and EBITDA?

Sonal Goyal

30 September 2026 11:35 AM AEST

Why Did Web Travel Group (ASX:WEB) Upgrade 1H27 Guidance, and What Does the S&P/ASX 200 Travel Company Now Expect for Margins and EBITDA?

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Web Travel Group Limited (ASX:WEB) issued a trading update on 26 August 2026 that raised its guidance for the six months to 30 September 2026 (1H27). The company said WebBeds 1H27 Revenue in euro Functional Currency is now expected to be up 14% to 16% on 1H26, compared with earlier guidance of 11% to 15%.

Web Travel Group also lifted its expectation for the WebBeds total transaction value (TTV) margin, which is revenue as a share of TTV. It is now expected to be at least 6.7%, compared with the previous expectation of about 6.7% and with 6.5% in 1H26. Group Underlying EBITDA, including corporate costs, is now expected to be between A$85 million and A$89 million, up from the earlier range of A$80 million to A$86 million.

Web Travel Group is a Melbourne-based company listed on the ASX whose principal Business is WebBeds. The update covers WebBeds trading and group Underlying EBITDA, which the company defines as core financial performance adjusted for one-off or non-recurring items.

Recent Development

In the 26 August 2026 announcement, Managing Director John Guscic attributed the upgrade to a higher velocity of bookings and improved margins in trading. He said the Americas continues to record very rapid growth, and that Europe, the Middle East and Africa (MEA) and Asia-Pacific (APAC) all improved in the second quarter of the half.

The company said 1H27 is on track to be the third consecutive six-month period in which the TTV Margin has improved over the prior corresponding period. It also said WebBeds 1H27 EBITDA growth in euro functional currency is expected to exceed revenue growth, which it described as continuing operating leverage.

Mr Guscic linked the Operating Leverage to optimisation initiatives and investments made in FY26, which he said are delivering earlier than expected. Further detail on FY27 trading is contained in the Managing Director's presentation for the 2026 annual general meeting. The company's financial year runs for 12 months to 31 March, so FY27 covers the period to 31 March 2027.

The guidance changes in the release are as follows: the TTV margin expectation moved to at least 6.7% from about 6.7%, the revenue growth range moved to 14% to 16% from 11% to 15%, and Underlying EBITDA moved to A$85 million to A$89 million from A$80 million to A$86 million.

Sector Context

The release describes trading in terms of the regions in which WebBeds operates. It reports very rapid growth in the Americas, and improvement in Europe, MEA and APAC in the second quarter of the half. The measure at the centre of the update, TTV margin, shows how much revenue the company retains from each dollar of bookings, so movements in it reflect both booking volumes and the pricing and mix of those bookings.

The update also draws attention to the interaction between currency and reporting. WebBeds revenue and EBITDA growth are quoted in euro functional currency, while group Underlying EBITDA is quoted in Australian dollars, so Exchange Rate movements can influence how the two measures compare.

Risks and Uncertainties

The update relates to a period that had not finished at the time of release. The 1H27 half ends on 30 September 2026, so the figures are expectations rather than results, and the language of the release, such as a margin of at least 6.7% and revenue growth in a range, reflects that.

Guidance was also revised within short order, from about 6.7% to at least 6.7% and from wider to narrower ranges, which shows how quickly expectations can change with booking velocity. Underlying EBITDA excludes one-off and non-recurring items, so the statutory result may differ, and the release does not provide profit, Cash Flow or Balance Sheet figures.

What to Watch Ahead

Web Travel Group expects to release its 1H27 results on Wednesday, 25 November 2026, when the guidance ranges can be compared with reported figures. Readers can also review the 2026 AGM Managing Director's presentation for further FY27 trading detail.

Reference points include whether the TTV margin reaches at least 6.7%, whether EBITDA growth exceeds revenue growth as guided, regional trading in the Americas, Europe, MEA and APAC, and whether the third consecutive half of margin improvement is confirmed.

The Bottom Line

Web Travel Group's 26 August 2026 update raised its 1H27 guidance for WebBeds revenue growth, TTV margin and group Underlying EBITDA. The 25 November 2026 results are the next reference point.

FAQs

Q: When did Web Travel Group (ASX:WEB) upgrade its guidance?

A:The company issued its trading update and upgraded 1H27 guidance on 26 August 2026.

Q: What is the new Underlying EBITDA guidance?

A:Group Underlying EBITDA for 1H27 is now expected to be between A$85 million and A$89 million, compared with a previous range of A$80 million to A$86 million.

Q: When are the 1H27 results due?

A:The company expects to release its 1H27 results on Wednesday, 25 November 2026.

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