Full Year 2024 Experience Co Ltd Earnings Call Transcript
Key Points
- Sales revenue increased by 17% to $127 million, the highest level since the onset of the pandemic.
- Underlying EBITDA improved by 27% to $14.4 million, showcasing strong operational performance.
- Skydiving segment saw a significant recovery with volumes up 27% versus PCP.
- Adventure Experiences segment remained the largest contributor to group earnings, demonstrating resilience.
- Cash and cash equivalents ended the financial year at $8.2 million, indicating a healthy balance sheet.
- Reported loss before tax was $2 million, including $1.4 million of net costs related to non-ordinary activities.
- Premium Adventure segment experienced a disappointing year due to softness in walking and premium lodging divisions.
- Significant weather impacts, including Tropical Cyclone Jasper and record rainfalls, affected operations.
- Net debt increased to $8.9 million, partly due to drawdowns for organic growth projects.
- Domestic cost-of-living pressures are impacting domestic volumes in Australia, particularly in the Skydiving segment.
Thank you for standing by, and welcome to the Experience Co Limited financial 2024 full-year results. (Operator Instructions)
I would now like to hand the conference over to Mr. John O'Sullivan, CEO. Please go ahead.
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Thanks, Dave. Good morning, ladies and gentlemen, and thank you for your attendance today at Experience Co's FY24 results call. As Dave alluded to, my name is John O'Sullivan, CEO of Experience Co. And with me today is Gavin Yates, our CFO.
The structure this morning's call is as outlined in your presentation packs on Slide 3, I'll provide a short update on the business performance over the course of the financial year. I'll then hand over to Gavin, who will provide a more fulsome review of the financial result. And then finally, I will close out the presentation with a quick trading update based on our July trading results. And then of course, we are happy to take your questions.
Turning firstly, now to Slide 5. During the
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