• Revenue from continuing operations up 5% to $67.2 million
• Underlying EBITDA from continuing operations up 1% to $10.5 million
• Statutory net profit after tax up 35% to $1.9 million
• Divestment of Wild Bush Luxury business unit planned

Experience Co Limited (ASX: EXP) has released its Appendix 4D and Interim Financial Report for the half year ending 31 December 2025. Revenue from continuing operations was up 5% to $67.2 million, while underlying EBITDA from continuing operations increased 1% to $10.5 million. Statutory net profit after tax from continuing and discontinued operations was up 35% to $1.9 million. The company reported net debt of $13.3 million and operating cash flows of $5.6 million. Management maintained a strong focus on cost reduction, with approximately 50% of the >$2 million annualised cost-out target for FY26 implemented. The company's performance was impacted by external factors including protected industrial action, volatile weather conditions, persistent cost-of-living pressures and inconsistent return of international visitors. The company also announced plans to divest its Wild Bush Luxury business unit, which will simplify the portfolio to focus on experiences offering the highest scalability and return on capital potential. The company continued to pursue organic growth opportunities, including the integration and ramp-up of Reef Unlimited's new vessel, new Reef Unlimited products and experiences, and the launch of the Treetops Canberra zipline and commencement of networld construction.

The Board and Management's view on the longer-term earnings outlook of the Group remains positive, however, the earnings recovery will take longer than originally expected due to the more gradual and inconsistent return of international tourists and ongoing macro-economic conditions in Australia. The Group has commenced a review of its Skydive Australia business unit given significant changes to its operating environment as well as the slower than anticipated recovery to FY19 levels. Management will continue to pursue growth opportunities with a focus on the Adventure Experiences segment via organic expansion and sensible bolt-on acquisitions.