Key points
- FY26 revenue up 2% to $129.6M
- EBITDA down 8% to $17.6M
- Divested Wild Bush Luxury for $5.1M
- Signed non-binding term sheet with Inflite Group
- No FY27 earnings guidance provided
Full summary
Experience Co Ltd's FY26 Annual Report highlights a 2% increase in revenue to $129.6M, up from $127.3M in FY25. However, EBITDA decreased by 8% to $17.6M due to various external challenges, including weather events, geopolitical tensions, and subdued consumer sentiment. The company divested its Wild Bush Luxury business for $5.1M, reflecting a strategic realignment to focus on core adventure tourism assets. Additionally, Experience Co Ltd signed a non-binding term sheet with Inflite Group regarding a potential combination of its Australian and New Zealand Skydive and Aviation businesses with Inflite's Aviation business. The company also announced a formal review of its Skydive Australia business unit and consolidated its Victorian drop zones into the Great Ocean Road drop zone. Despite these challenges, the Group's Adventure Experiences segment showed growth, particularly in Reef Unlimited and Treetops Adventure. The Group did not provide earnings guidance for FY27.
Guidance
No FY27 earnings guidance provided
Outlook
The Group's near-term outlook remains influenced by external factors such as the Middle Eastern conflict and consumer sentiment. The Board and Management's longer-term earnings outlook remains positive, supported by the Group's diversified portfolio and ongoing growth initiatives, but the recovery is expected to take longer than originally anticipated.