Ann: Serko FY21 Full Year Results Announcement, page-4

I was on the conference call, the outlook is promising

They are a very frank mob, they spelled out any big loss and spell out any ambiguity in their number, and make no mistakes they have a shit covid-19 year even their outlook is good, they are very down to earth and again spell out covid-19 uncertainty.

a few analyst was on the call and they asked question and I think they like what they hearing.

I summarise some of the stuff that was mentioned in the conference call

1. ARP improvement are Zeno driven. I take this as more people moving to Zeno this number is getting better

2. They in a work with a large customer but cant announce anything yet until finalised, they said they will let the market know ASAP

3. NZ story demonstrated what recovery will be like when most country has covid under control, explosion in NZ travel in the last few months

4. Covid-19 bring out a new set of business travel section never seen before, this cater for people working from home in all sort of location and they have to fly in and out of the office and on to client sites.

5. Serko business is very much differ from leisure international travel as they are mostly domestic based, so they don't need international border open, as long as the domestic market has the virus under control they will thrive, again NZ model proved the point.

6. Their 100m revenue still on track disrupted by covid-19, obvious they spelled out cant be certain because other outbreak can occurred in the future but they are optimistic

7. Massive uptake on booking.com integration onboarding but they have not finished with the integration, they expect big uplift in revenue once integration is complete