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ASX196 WOTIF.COM HOLDINGS LIMITED ABN 41 093 000 456 | 7 Baroona Road Milton QLD 4064 Australia | Phone: +61 7 3512 9965 Fax: +61 7 3512 9914 Email: investors@wotifgroup.com ASX ANNOUNCEMENT Wotif.com Holdings Limited ABN 41 093 000 456 Wednesday 23 February 2011 Presentation Material - Half Year Results Please find attached presentation material to be used in investor presentations with respect to Wotif.com Holdings Limited's half year results for the 6 month period ended 31 December 2010. For further information or to arrange an interview with Robbie Cooke (Managing Director/Group CEO) or Craig Dawson (Chief Financial Officer): Media enquiries please contact: Analysts and institutions please contact: Kate Fisher Public Relations Manager, Australia & New Zealand Ph: (+61) 7 3512 9920 Mob: (+61) 0410 085 103 Email: kate.fisher@wotif.com Cath McMurchy Executive Assistant Ph: (+61) 7 3512 9965 Email: [email protected]

Wotif.com Half Year Results to December 2010

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Wotif.com Holdings Limited's half year results for the 6 month period ended 31 December 2010.

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Page 1: Wotif.com Half Year Results to December 2010

  

ASX196

WOTIF.COM HOLDINGS LIMITED ABN 41 093 000 456 | 7 Baroona Road Milton QLD 4064 Australia | Phone: +61 7 3512 9965 Fax: +61 7 3512 9914 Email: [email protected]

ASX ANNOUNCEMENT

Wotif.com Holdings Limited ABN 41 093 000 456

Wednesday 23 February 2011

Presentation Material - Half Year Results Please find attached presentation material to be used in investor presentations with respect to Wotif.com Holdings Limited's half year results for the 6 month period ended 31 December 2010. For further information or to arrange an interview with Robbie Cooke (Managing Director/Group CEO) or Craig Dawson (Chief Financial Officer):

Media enquiries please contact: Analysts and institutions please contact:

Kate Fisher Public Relations Manager, Australia & New Zealand Ph: (+61) 7 3512 9920 Mob: (+61) 0410 085 103 Email: [email protected]

Cath McMurchy Executive Assistant Ph: (+61) 7 3512 9965 Email: [email protected]

 

Page 2: Wotif.com Half Year Results to December 2010
Page 3: Wotif.com Half Year Results to December 2010

H1FY11 - Group Milestones

1

Australian Bureau of Statistics data demonstrates accommodation segment share maintained

Number 1 position in Australia and New Zealand

First stage of multi-lingual functionality launched for Asian operations (Chinese, Japanese, Thai and Indonesian Bahasa)

Record TTV – $567 million (up 1%)

Flight booking numbers up 13% (domestic benefit of Wotflight)

Trans-Tasman flights introduced on Wotflight

18,150+ properties directly represented (up 8%)

Group Data Centre consolidation completed

Wotif.com booking window extended from 3 months to 6 months

Additional 3,400 properties from Tourico

Page 4: Wotif.com Half Year Results to December 2010

H1FY11 – Group Financial Highlights

Group room rate up 5% - (Wotif.com rates up 5.9%)- (Asia Web Direct rates down 10.2%)

Record $567 million in TTV (H2FY10 $532 million; H1FY10 $562 million)

2

Revenue growth to $71 million (H2FY10 $66 million; H1FY10 $70 million)

3.6 million room nights sold (H2FY10 3.4 million; H1FY10 3.7 million)

Flight booking numbers up 13%

Flights TTV up 3% to $41.9 million

1.9 million bookings (H2FY10 1.8 million; H1FY10 1.9 million)

NPAT $25.4 million (H2FY10 $25.4 million; H1FY10 $27.6 million)

Marketing costs up $3.1 million

Page 5: Wotif.com Half Year Results to December 2010

H1FY11 – Group Financial Highlights

Group NPBT margin 50% (H1 FY2010: 55%)

3

Average length of stay 1.91 nights (H1FY2010: 1.96 nights)

Group accommodation revenue margin 12.1% (H1 FY2010: 12.1%)

79% dividend payout ratio (H1 FY2010: 68%)

9.5¢ fully franked interim dividend per share (H1 FY2010: 9.0¢)

Wotif.com average lead time 13.76 days (H1 FY2010: 13.45 days)

Page 6: Wotif.com Half Year Results to December 2010

H1FY11Actual ($m)

H2FY10Actual ($m)

H1FY10Actual ($m)

% Change H1FY11 vs

H1FY10

% Change H1FY11 vs

H2FY10

- Accommodation TTV- Flights and other TTVTotal transaction value

520.50246.440

566.942

483.14048.415

531.555

517.08045.375

562.455

1%2%1%

8%4%7%

- Accommodation revenue- Flights and other revenue- Interest revenueTotal revenue

63.1265.8842.013

71.023

58.5716.2171.535

66.323

62.3746.0081.308

69.690

1%2% 54%2%

8%5% 31%7%

Total operating expenses (32.245) (28.310) (28.437) 13% 14%

Net profit before depreciation, amortisation and taxation

38.778 38.013 41.253 6% 2%

Depreciation (1.487) (1.265) (1.052) 41% 18%

Amortisation of IT Development Costs (1.386) (1.613) (1.502) 8% 14%

Other amortisation (0.151) (0.150) (0.128) 18% 1%

NPBT 35.754 34.985 38.571 7% 2%

Income tax (10.363) (9.603) (11.005) 6% 8%

NPAT 25.391 25.384 27.566 8% N/M

Key items:

H1FY11 – Group Financial Performance

4.8% decrease in room nights sold

5% increase in Group room rate

Increased offline and online marketing costs

4

Page 7: Wotif.com Half Year Results to December 2010

Group Performance since FY04

5

Page 8: Wotif.com Half Year Results to December 2010

Margin

H1FY11Actual

H2FY10Actual

H1FY10Actual

Accommodation revenue % of accommodation TTV 12.1% 12.1% 12.1%

Total revenue % of TTV 12.5% 12.5% 12.4%

NPBT % of total revenue 50.3% 52.8% 55.4%

H1FY11 - Group Margins

6

Page 9: Wotif.com Half Year Results to December 2010

Consolidated Consolidated

December 2010A$’000

June 2010A$’000

CURRENT ASSETS

Cash and cash equivalents 119,518 103,592

Trade and other receivables 4,489 5,087

Available-for-sale financial assets - 967

TOTAL CURRENT ASSETS 124,007 109,646

NON-CURRENT ASSETS

Receivables and other non-current assets 161 135

Property, plant and equipment 22,820 20,992

Deferred tax assets 7,873 9,073

Intangible assets and goodwill 86,869 89,679

TOTAL NON-CURRENT ASSETS 117,723 119,879

TOTAL ASSETS 241,730 229,525

CURRENT LIABILITIES

Trade and other payables 149,622 135,205

Interest-bearing liabilities 4 34

Income tax payable 3,605 3,762

Provisions 1,334 1,388

TOTAL CURRENT LIABILITIES 154,565 140,389

NON-CURRENT LIABILITIES

Interest-bearing liabilities 101 112

Deferred tax liabilities 2,678 2,678

Provisions 440 426

TOTAL NON-CURRENT LIABILITIES 3,219 3,216

TOTAL LIABILITIES 157,784 143,605

NET ASSETS 83,946 85,920

EQUITY

Contributed equity 28,209 25,574

Retained earnings 53,752 54,694

Reserves 1,985 5,652

TOTAL EQUITY 83,946 85,920

Group Balance Sheet

7

Page 10: Wotif.com Half Year Results to December 2010

Group Accommodation – Properties Directly Represented

8

Period

Nu

mb

er

of

pro

pert

ies

28%

9%

29%

18%

Rest of world

Asia

Australia & New Zealand

7,920

FY06

4,405

2,745

770

10,108

FY07

5,483

3,257

1,368

H1FY08

10,988

6,008

3,157

1,823

H1FY09

14,228

7,099

3,408

3,721

H1FY10

16,762

7,846

3,846

5,070

H1FY11

18,154

8,571

4,296

5,287

8%

Page 11: Wotif.com Half Year Results to December 2010

H1FY11Properties

H1FY10Properties

% PCP

Australia & New Zealand 8,571 7,846 9%

Asia 5,287 5,070 4%

Rest of World 4,296 3,846 12%

Total 18,154 16,762 8%

Group Accommodation – Properties Directly Represented

Plus 3,400 properties from Tourico

9

Page 12: Wotif.com Half Year Results to December 2010

Group Accommodation – Properties by Region

More than 18,150 properties from 59 countries on our websites

10

Staff in 18 countries on five continents

Page 13: Wotif.com Half Year Results to December 2010

Group Accommodation – Room Nights Sold

11

Period

Rest of world

Asia

Australia & New Zealand

Ro

om

Nig

hts

H1 FY07

1.825m

1.682m

0.084m

0.059m

H1 FY06

1.240m

1.143m

0.047m0.050m

22%

37%

22%

47%

H1 FY08

2.011m

0.140m

0.066m

2.217m

H1 FY09

2.474m

0.489m

3.034m

0.071m

H1 FY10

3.025m

0.587m

3.710m

0.099m

4%

H1 FY11

2.943m

3.554m

0.518m

0.094m

Page 14: Wotif.com Half Year Results to December 2010

H1FY11Room nights (m)

H2FY10Room nights (m)

H1FY10Room nights (m)

% Change H1FY11 vs

H1FY10

% Change H1FY11 vs

H2FY10

Australia & New Zealand 2.943 2.845 3.025 2.7% 3.4%

Asia 0.518 0.480 0.587 11.8% 7.8%

Rest of World 0.094 0.084 0.099 4.7% 12.5%

Total 3.554 3.409 3.710 4.2% 4.3%

Group Accommodation - Segment Performance

12

Page 15: Wotif.com Half Year Results to December 2010

Group Accommodation – Weekly Room Nights

13

Page 16: Wotif.com Half Year Results to December 2010

Wotif Group - Share of Total Australian Accommodation*

*Source: Australian Bureau of Statistics (8635.0 - Tourist Accommodation, Australia, Sep 2010) - Takings from accommodation of establishments with 15 or more rooms.Note: From September quarter 2010, the scope of the survey has been reduced to comprise the following categories of establishments: hotels and resorts with 15 or more rooms; motels, private hotels and guest houses with 15 or more rooms; serviced apartments with 15 or more units.

14

Page 17: Wotif.com Half Year Results to December 2010

Group Accommodation – Key Brand AttributesNo 1 Australian and New Zealand brand (Hitwise)

4.3 million visits (non-unique) per month (traffic up 15% on PCP)

254,800 bookings per month

Approximately 60% of bookings direct type in “Wotif.com”

Circa 10% “look to book” conversion rate

Brand awareness above 45% (Australia)

1.2 million visits (non-unique) per month

39,300 bookings per month

15

Circa 4% “look to book” conversion rate (accommodation)

Brand awareness above 59% (Australia)

Large Australian and New Zealand audience

Page 18: Wotif.com Half Year Results to December 2010

Group Accommodation – Key Brand Attributes

2.5 million visits (non-unique) per month

More than 56% of traffic pan-Asian

Online/offline offering

Experienced phone-based travel experts

Access to Wotif.com inventory – unique position

16

Powers leading Travel Management Companies

0.8% “look to book” conversion rate

Page 19: Wotif.com Half Year Results to December 2010

Wot’s Coming

17

International flights - Wotflight

New mobile functionality

Further multi-lingual content Asia

Introduction of our first localised joint venture in Asia

Outlook“The start to the second half was far from ideal – with cyclones and floods savaging much of Queensland and floodsimpacting northern New South Wales and Victoria in January – we have notwithstanding managed to maintain our bottom line performance at the levels achieved in January last year. Whilst it is still too early to extrapolate, we have seen forward booking levels (not check-ins) on Wotif.com over the last 10 days return to low double-digit growth. We have seen similar trends on our lastminute.com.au site.”

Page 20: Wotif.com Half Year Results to December 2010