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Highlights

  • WebJet posts $5.1 million net profit after tax, recovering from a $10.6 million loss last year.

  • Revenue fell 3% to $143.7 million; bookings down 7% amid weaker domestic travel and airline collapse.

  • No FY25 dividend; capital management plans deferred after BGH Capital takeover proposal was rejected.

Online travel agency WebJet (ASX:WEB) has posted a net profit after tax of $5.1 million for the financial year ending March 2025 — marking a return to profitability in its first full-year result since demerging from business-travel unit Web Travel Group in 2024.

The result compares to a $10.6 million net loss in the prior year, which included a partial year of operations before the demerger. The return to profit comes despite a decline in revenue and booking volumes.

WebJet’s revenue fell 3% to $143.7 million, and total booking numbers declined 7% to 1.53 million, impacted by a weaker domestic travel market and the voluntary administration of Rex Airlines, a key domestic carrier.

The company’s underlying net profit after tax rose 18%, increasing from $17.7 million to $20.9 million, driven by a focus on operational efficiencies. However, EBITDA fell sharply by 46% to $21.3 million, while underlying EBITDA edged up slightly by 1% to $39.4 million.

WebJet, now focused solely on the consumer travel market, was re-listed on the ASX in September 2024 following the spin-off of its business-to-business operations into a separate entity.

Despite the return to profit, the company announced it will not pay a dividend for FY25, citing insufficient franking credits. Management said an interim dividend is planned for FY26, with a formal policy in place to distribute 40% to 60% of underlying net profit after tax via dividends or capital returns in future periods.

WebJet had previously flagged an on-market share buyback in the absence of franking credits but has now deferred those capital management initiatives. The decision follows the recent rejection of a non-binding takeover proposal by BGH Capital, which had signalled interest in acquiring the travel firm.

The company did not issue financial guidance but noted that while international travel demand remains steady, domestic activity continues to show signs of softness. The collapse of Rex Airlines has further strained the sector, reducing affordable capacity and affecting traveller sentiment.