• Strong January performance followed by challenging trading conditions in February and March due to weather impacts
• Skydiving segment performance improved driven by volume growth and site efficiencies
• Adventure Experiences segment impacted by weather conditions, particularly for Reef Unlimited

Experience Co Ltd reported its Q3 FY25 trading update, with Underlying EBITDA growth of 10% vs prior corresponding period. The company experienced a strong January performance, followed by challenging trading conditions in February and March due to significant weather events including a low-pressure system off the FNQ coast during end January/start of February and Tropical Cyclone Alfred in March. This impacted the company's Adventure Experiences segment, particularly Reef Unlimited, which saw a 17% decrease in volumes. The Skydiving segment reported volume/revenue growth, with Skydive New Zealand performing strongly with 18% volume growth. The company's focus on free cash flow generation has resulted in positive free cash flow for the year-to-date period. Management remains encouraged by the return of demand to Skydive Australia and is focused on ensuring the business is 'holiday ready' for the upcoming peak season.

On a YTD basis, FY25 unaudited Underlying EBITDA is $19.0m vs prior corresponding period of $13.6m.

Management remains focused on free cash flow generation for the remainder of the financial year. Positive April trading resulted in all business units recording profitable trading for the month and an unaudited Underlying EBITDA of $3.1m vs prior corresponding period of $1.6m.