WebBeds TTV is up 50% excluding TC. - Every $100 in incremental TTV is delivering $5 in EBITDA. So expect another $1,075m TTV or $54m EBITDA. - TC FY19 TTV was $197m. FY20 expectation was $150-$200m. That means no incremental TTV. - DOTW (additional 5 months) and Asia Pacific opportunities to deliver an incremental $20-26m EBITDA - TC announcement on Monday said max of $7m EBITDA impact for FY20 and a writedown of $44m.
- WebBeds organic EBITDA should be up $54m+$20-26m in FY20 ($74-80m) and $23-29m on a statutory basis (still around 35-43% reported increase YoY despite TC write-offs) - Add 9% for Webjet (another $6m) and 4% for Online Republic.
We should see a $29-35m or a 23%- 28% increase in statutory EBITDA despite the TC situation. Add acquisitions and this could be significantly more.
Happy to buy at these levels. $100m NPAT for FY20 is a real possibility. Directors are buying and I have justified why I am buying. Good luck to all.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)