Full Year Results FY22

Highlights

  • Kelsian performed well in challenging conditions, continuing to diversify its resilient contracted earnings base
  • Underlying EBITDA increase of 9.3% on prior year to $183.1 million, reflecting the strength of the business and defensive contracted model
  • Total revenue of $1,324.7 million, up 12.9% on the prior year
  • International Bus outperformed expectations following the London restructure and doubling of the Singapore contract base
  • Australian Bus performed in line with expectations with an increased EBITDA and margin expansion
  • Marine & Tourism showed improvement late in the period following impacts of border restrictions, travel uncertainty and COVID-19 over the Australian summer
  • Cashflow and Balance Sheet remain strong, positioning Kelsian for growth; Balance Sheet capacity was utilised to fund strategic acquisitions, asset renewal and fleet investment
  • Award of up to a 25-year contract to continue to operate ferries to Kangaroo Island
  • Reinforced market leading position as Australia’s largest operator of zero emissions buses with 58 battery electric vehicles in operation, a further 59 on order and four hydrogen fuel cell buses to be deployed
  • Change of corporate name from SeaLink Travel Group Limited to Kelsian Group Limited
  • Inclusion in the ASX 200
  • Final dividend of 9.5 cents per share, an increase of 0.5 cents over the prior

Half Year Results FY22

Highlights

  • A period dominated by managing the ongoing impacts of COVID-19
  • Australian Bus delivered increased EBITDA and margin expansion
  • International Bus performance reflects the partial London restructure (completion of RATP JV) and new Singapore contract integration
  • Marine & Tourism negatively impacted by border restrictions, travel uncertainty and emergence of the Omicron variant over the traditionally busy summer period
  • Underlying EBITDA of $90.8 million down 4.1% over the prior period
  • Underlying NPAT of $21.9 million down 27.5% over the prior period
  • Interim dividend maintained at 7.0 cents per share
  • Deployment of $21.1 million of capital expenditure to replace bus fleet and advance new vessel builds
  • Completion of the acquisitions of Go West Tours (July 2021) and Lestok Tours (December 2021)
  • Award of a new (up to) 25-year contract to operate ferries to Kangaroo Island commencing in July 2024
  • Successful transition of the new Sembawang-Yishun contract in Singapore
  • Expansion of the electric bus fleet in NSW and UK and electrification of depots
  • Change of corporate name from SeaLink Travel Group Limited to Kelsian Group Limited
  • Inclusion in the S&P ASX200 Index.