• Accelerates growth in high-potential, higher margin cruise sector
• Adds scalable digital platform and omni-channel capabilities to FLT's global network
• Acquisition expected to be EPS accretive in FY26 with strong growth potential

Flight Centre Travel Group (FLT) has accelerated growth in the highly attractive cruise sector by agreeing to acquire Iglu, the United Kingdom's leading online cruise agency. The acquisition significantly expands FLT's cruise footprint, delivering scale, advanced technology and broader access to the UK - the world's third-largest cruise market. Iglu's industry-leading, proprietary digital platform will integrate across FLT's leisure brands to accelerate sales and create a unified, omni-channel experience for cruise customers. It will also serve as a springboard for entry into the US and other high-growth markets. Iglu has an attractive margin profile, with a 3.1% FY25 EBITDA margin versus 2.2% across FLT's leisure division, and is forecast to deliver GBP14.8m in adjusted EBITDA from roughly GBP450m in TTV during FY26. With Iglu onboard, FLT's cruise-related TTV will almost double to surpass $2b (annualised) during FY26 - two years ahead of plan. The acquisition is expected to be EPS accretive in FY26 with strong growth potential and further synergies available in the medium-term.

FLT has upgraded FY26 UPBT guidance to $315m-$350m (previously $305m-$340m) to reflect Iglu's expected part-year contribution. The mid-point of this new range represents 15% growth on FY25's $289.1m result.