• FY26 underlying net profit after tax expected between $40 million and $43 million
• Net debt projected at $460 million to $470 million
• Company maintains a strong balance sheet and remains within banking covenants

Tourism Holdings Limited (NZX:THL, ASX:THL) has updated its FY26 guidance, reflecting ongoing global disruptions to international travel and softening consumer confidence. Despite these challenges, the company's underlying profitability remains largely unaffected. The company now expects underlying net profit after tax (uNPAT) to be in the range of $40 million to $43 million, excluding the divested UK & Ireland business. Net debt is expected to be in the range of $460 million to $470 million at 30 June 2026, primarily due to lower vehicle sales volumes, adverse foreign exchange movements, and working capital changes. The company maintains a strong balance sheet with headroom across debt facilities exceeding $300 million.

FY26 underlying net profit after tax expected $40M-$43M, net debt $460M-$470M

Positive medium-term outlook for free independent travel and RV category, with Canada expected to have a record summer. New Zealand and Australia summers depend on air capacity and flight prices.