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Thread: WEB - Webjet

  1. #31
    percy
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    Quote Originally Posted by upside_umop View Post
    Interesting Percy, cheers.

    Considering this is virtually straight to the bottom line (average same size transaction and very marginal increase in costs for sales) and combined with the lag effect of the strong AUD, then it would seem they will get the 15% target growth EPS for the year. Markets always like upgrades, although its P.E. is quite rich on the historical side.

    What do you think their chances are with the US?
    Upside.
    I unfortunately do not own WEB.Only wish I did.I did do well out of WTF,but noted comments on the WTF thread that they were facing a lot of competition.so sold.I think WEB is a better share to hold.I noted your interest in WEB so posted reference to articles incase you did not see them,so I cannot make a comment on their chances in US.

  2. #32
    Senior Member upside_umop's Avatar
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    WEB took a little bit of a dive recently with managements uncertain outlook - I think they are just being cautious. Profits should exceed forecasts when you read between the lines.

    From my eyes, it looks like WEB has double bottomed and now strongly broken resistance of 2.30.

    You have to give this stock a little bit of breathing space given it's lack of liquidity can make for some wild moves....trend channels have worked for me - but I was getting close to selling I must admit.

  3. #33
    Senior Member upside_umop's Avatar
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    Tracking up nicely again after taking a hit from a cautious forecast by the company.

    The forecast results to 6 months 31/12/2010 said:
    Webjet’s results to the end of October indicate a profit increase (before tax) of approximately 15% compared with last year and a TTV increase of approximately 20%
    The actual results to 6 months for 31/12/2010 said:
    Webjet today announced Total Transaction Values for the six months ended December 31st of approximately 285 million, compared to 248 million for the previous year, an increase of approximately 15%.
    During the same period transaction fees increased by approximately 25%, which is reflective of the fact that the unit value of air fares in the latest six month period as a product of intense airline sales initiatives, and intense bargain hunting by consumers, have decreased relative to last year.
    This means that our transaction volumes have increased at a rate we estimate of more than double the growth rate in the leisure market.
    Therefore, if all else is constant...you would expect net profit to increase by more than the cautious forecast of 15% as fees collected were up 25%. However there were some small one off costs for expansion into America, Europe etc ($250k, so negligible). I'll be looking at these segmented operating numbers with interest, as if they were to break this market, it would be huge.

  4. #34
    Senior Member upside_umop's Avatar
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    *TTV up 29%
    *Operating revenue up 38%
    *Net profit up 17%
    *Interim dividend up 20%
    *EPS up 23%

    http://www.stocknessmonster.com/news...E=ASX&N=368895

    A pretty good half for WEB.

  5. #35
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    whats with the recent drop. it seems to me as cyclical but is there something else involved. Feel like buying into the dip

  6. #36
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    Does anyone know why this got so smashed today. Is there any reason for it or is this just a good buying opportunity

  7. #37
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    tosspot maybe more people have woken up to the fact that if you find the cheap fares on Webjet you can then go direct to the Airline & get the same fare but less fees than booking through Webjet. I assume it is still this way as it is some years since I was chasing Air Fares. We used to only use WebJet as a fare comparison site & book & pay direct.
    Possum The Cat

  8. #38
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    KW things change all the time. You have to check all the details every time as Tiger airways had different conditions for tickets issued via WebJet compared with tickets they issued themselves.
    Possum The Cat

  9. #39
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    All quiet here..... Managing Director buys $700k of shares in a month ..... down to 11.70 from 17.20. Seems to be turning up . Maybe the shorters buying back ?
    One company has a buy rating ...

  10. #40
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    Thought I'd revive another thread that has gone by the wayside. Have posted about it on the Serko thread on occasion. Last one below from late last year.

    Quote Originally Posted by Muse View Post
    good old webjet...one of my fav pandemic investments. had been a long term admirer but never pulled the trigger. In very early days of the pandemic lots of the obviously effected companies started doing these heavily discounted rights issues so bought my first block of webjet shares at a bargain price and then got the opportunity to subscribe for new shares at i think A1.70 (now 6.20), which was massively discounted, and on a 2 for 1 basis. bit fuzzy now but think I managed to pick up some over subscriptions. a lot of kiwi IP in that company and chaired by a fine kiwi too.
    Web now at $7.47.

    I can't get my head around Serko's valuation but I can on webjet's. Web operates with a 31 March financial year so its FY24 is substantially complete, with a PE of 31.5x. But on the next 12 months (soon to be new current financial year) that shrinks to 21.9x, based on consensus. The half year result was good and beat consensus by about $10m EBITDA.

    Latest preso and announcements.
    https://cdn-api.markitdigital.com/ap...43090-3A631322
    https://cdn-api.markitdigital.com/ap...43089-3A631321

    People will be mostly familiar with its advertising for its flight booking service on webjet.com.au / webjet.co.nz

    But the core and value of the group is its WebBeds business, which is now a global B2B business, which is arguably a more attractive and valuable segment to play in than mass market consumer. It is now a top 3 player internationally, behind Expedia and Hotelbeds.

    Obviously macro themes going on but I think WEB has carved out in a niche and is capturing marketshare in a good area and that'll provide it with strong secular growth regardless of the macro cycle - the question is how will the growth compare to near term mkt expectations. Transaction values and earnings are now above pre covid levels.

    WEB now has A$634m in gross cash ($144m inflow in 1H24). Ironically one of the overhangs on the business' near term SP is it's capital structure. In 2021 the business issued bonds worth $250m at face value, pays a 0.75% coupon, and aren't due to mature until April 2026. Sounds great cheap funding! Sadly the bond investors have a put option able to be exercised starting this April where they can convert to equity at $6.25 a share (back at the time this was quite the premium). So that could prove dilutionary and a bit of an overhang. Web actively trying to buyback that debt as it has heaps of cash but the bonds but the the bonds are valuable from an option value perspective.

    anyway I never spend much time here on my ASX shares so thought I'd share a few notes. No advice and just my musings and disclose I am a shareholder.

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