Experience Co 1H24 Financial Performance

Experience Co Limited (ASX: $EXP) has reported its 1H24 results, with a revenue of $62.3 million, representing a significant increase from the previous year. The company also disclosed a statutory net loss after tax of $1.3 million, an underlying EBITDA of $7.1 million, and a strong recovery in trading volumes since the emergence of the pandemic.

Executive Commentary on 1H24 Results

CEO John O'Sullivan expressed satisfaction with the 1H24 results, attributing the company's recovery to the tailwinds from inbound tourism in Australia and New Zealand. He highlighted the impact of Tropical Cyclone Jasper on operations in North Queensland but emphasized the successful restoration of operations in Cairns and Port Douglas. O'Sullivan also discussed the benefits of the recently refinanced corporate debt facility with CBA, providing the company with flexibility and a stronger balance sheet for continued operations and organic growth.

Summary of 1H24 Results and Outlook

Experience Co's 1H24 results reflect a positive trajectory in revenue and cash flow performance, driven by the recovery of inbound tourism markets in Australia and New Zealand. The company anticipates continued inbound recovery, particularly from the Chinese market, and plans to open its 16th Treetops Adventure site in Canberra. While the domestic market in Australia faces challenges, the company remains confident in its positive trading trajectory. Due to ongoing uncertainty, Experience Co has refrained from providing earnings guidance for FY24.