Earnings release
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FLIGHT CENTRE → TRAVEL GROUP TM Statement to Australian Securities Exchange - February 24 , 2022 FLIGHT CENTRE TRAVEL GROUP RELEASES FIRST HALF RESULTS Key Points Significant recent improvement in trading conditions globally • • • о Total transaction value ( TTV ) tracking more than 50 % above January levels in both corporate and leisure ( based on preliminary February trading data ) о Omicron cases decreasing in key markets , travel restrictions easing - at pace Demand quickly rebounding and set to top COVID - period record - milestone $ 10m daily TTV for Flight Centre brand in Australia on Tuesday ( Feb 22 ) Renewed confidence in return - to - profit timeframes ○ Strongest signs of return to normalcy during the pandemic - Australia , UK , Europe & USA now almost free of travel restrictions Continuing to target leisure and corporate profitability this fiscal year ( FY22 ) , subject to government restrictions Building on FY22 1H momentum ○ Strong first half ( 1H ) sales growth delivered – TTV up 113 % during 6 months to о December 31 2021 - with structurally lower cost base TTV more than tripled in key Europe , Middle East , Africa ( EMEA ) and Americas markets and now accelerating again in February Improved 1H operational performance masked by $ 65m reduction in retained benefits ( mainly JobKeeper ) compared to the prior corresponding period ( PCP ) Operating cash outflows down to $ 20m in November , with $ 1b + liquidity position at December 31 • Successful strategic execution • ○ Corporate business “ Growing To Win " - almost 150 % 1H TTV growth , market - share increasing globally о Volume of account wins and ongoing market recovery means TTV now likely to exceed pre - COVID ( PC ) levels during FY23 ( at circa 60-75 % market recovery ) ○ Leisure TTV up about 90 % compared to PCP and gaining share in key markets - online , B2B and call centre businesses now collectively capturing circa 40 % of gross core leisure TTV and complementing shop network FY22 outlook О Positive signs but little visibility around recovery timing / extent , future variants ○ Unprecedented but unquantifiable “ pent - up ” demand after 2 years of closures / lockdowns Flight Centre Travel Group Limited ABN 25 003 377 188 275 Grey Street , South Brisbane QLD 4101 AUSTRALIA