Full Year 2024 Flight Centre Travel Group Ltd Earnings Call Transcript
Key Points
- Flight Centre Travel Group Ltd (FGETF) achieved a record TTV of $23.7 billion, representing a 10% growth in both corporate and leisure segments.
- The company reported an underlying PBT of $320 million, which was within the midpoint of their guidance.
- Revenue margins improved by 100 basis points, reflecting better productivity and strategic initiatives.
- Corporate PBT increased by 44% year-on-year, with record profits for Corporate Traveller.
- The leisure division delivered its best performance in a decade, with a 110 basis point improvement in revenue margin and a net margin of 1.7% for the full year.
- TTV growth slowed in the second half due to deflation in key markets and lower growth rates in the corporate travel sector.
- The closure of GoGo and the Indian foreign exchange business negatively impacted overall performance.
- Operating cost base remains 15% below 2019 levels, indicating ongoing cost discipline challenges.
- The company faces seasonality issues, with PBT margins expected to be lower in the first half of FY25.
- Revenue margins are still about 1.5 percentage points below pre-COVID levels, and the company does not expect them to fully recover.
Hey, everyone. Thanks for joining us today for our FY24 results presentation. The format is the same as normal, but I'll briefly run you through it before handing over to the more important people.
Firstly, you'll hear from Adam Campbell, our CFO, and the CEO of our Global Business Services area. You'll then hear from Chris Galanty, our Global Corporate CEO; and James Kavanagh, our Global Leisure CEO. JK will hand over to our head honcho, Skroo, who will run you through our prospects for the year ahead and also our longer-term outlook. After that we'll go to Q&A, and our Supply CEO, Greg Parker, will join us for that part of the presentation.
Thanks. I'll hand over to Adam.
Thank you, Haydo, and welcome, everyone. And again, thanks for taking the time to join the call this morning. But as I look back on FY24, I know that all of our teams should be very proud of what they've achieved. We progressed in the
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
