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Flight Centre Limited Annual General Meeting November 1, 2007. 2007 Overview. Record results: After tax profit exceeded $100m for first time, TTV approached $9billion Enhanced shareholder returns: Dividends up 27% at 66cents per share for year

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Flight Centre Limited

Annual General Meeting

November 1, 2007


2007 overview l.jpg
2007 Overview

  • Record results: After tax profit exceeded $100m for first time, TTV approached $9billion

  • Enhanced shareholder returns: Dividends up 27% at 66cents per share for year

  • Customer: Marketing initiatives, shop of the future, broader product range

  • Stronger business base: Expansion, acquisitions and investment in key areas


2007 full year results l.jpg

FY 2007

FY 2006 (adj)

% Variance

Results in Brief

Actual

ex Abnormal

Actual

ex Abnormal

Actual

ex Abnormal

Total Transaction Value - TTV

$8.9 b

$7.8 b

14%

Revenue

$1.15 b

$1.0 b

15%

EBITDA

$197.4 m

$147.0 m

34%

$175.0 m

$147.0 m

19%

EBIT

$161.3 m

$110.5 m

45%

$138.8 m

$110.5 m

25%

Profit before Tax

$174.0 m

$119.4 m

45%

$151.6 m

$119.4 m

26%

Profit after Tax

$120.8 m

$79.4 m

52%

Dividend

66 cents

52 cents

27%

- Total

- Interim

20 cents

20 cents

- Final

46 cents

32 cents

2007 Full Year Results


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2007 operational highlights

  • Franchising: 17 shops opened in first year

  • Acquisitions: Flight Centre Travel Money (Nationwide Currency Services), Garber Travel Services (26% interest), Travel Spirit Group, Toni Brasch Event Management

  • Customer: Shop of future rollout fast-tracked, “Unbeatable”, “perfect holiday”



Brand diversity l.jpg

Leisure

Flight Centre

Escape Travel

Student Flights

Travel Associates

Overseas Working Holidays

Cruiseabout

Online

flightcentre.com

quickbeds.com

escapetravel.com.au

Studentflights.com.au

owh.com.au

Corporate

FCm Travel Solutions

Ci Events

Stage&Screen

Kistend/Campus

Flight Centre Business Travel

Wholesale

Infinity Holidays

Ticket Centre

Travel Spirit Group

Explore Holidays

Product powerhouse.

Flight Centre Travel Money (NCS)

VFR Flights

Brand diversity


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2008 Guidance

  • Targeting 10-15% TTV growth

  • Currently at high end of target range in good trading climate

  • 1H pre tax profit likely to be about 40% up (excluding abnormal in PCP)

  • Expecting at least 15% full year pre tax profit growth


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2008 Priorities

  • Growth: Shops and businesses, as well as different product ranges, a global product “powerhouse” and expansion in various corporate brands. Franchising in Australia, FCm licensing and SME corporate business overseas.

  • Diversified revenue streams: Acquisitions and new geographies, such as Dubai and Indian retail, but also looking at transferring FLT’s proven retail model into different businesses.

  • Customer and product strategy: Constantly moving into more premium and land-based product to satisfy changing customer type as baby boomers and over-35s request more and more prestigious and luxury product, as well as premium air product.

  • Our bricks and mortar friendly web strategy: We aim to have clearly the best retail travel website with good transactional capability, a very large range of exciting and great value non transactional land and air product, as well as destinational and other highly sought after travel information.


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2008 Progress update

Overall

  • Increased capex – shop of future and ‘refresh”, projects nearing completion. More than 1000 FC shops done by Xmas 2008. New head office fit-outs as needed under a new, good value, off-the-shelf design.

  • Acquisition opportunities – growing traditional business and new areas of business using our successful business model in travel, travel related or other types of retailing.

  • Global property acquisition strategy initiated – Auckland building acquired and currently looking to acquire in London, South Africa and Melbourne. Certain hotel properties will also be targeted if appropriate.

    Australia

  • Healthy trading conditions for travel – strong dollar, resources boom

  • Competition in the air – New carriers (Etihad, Air Asia X, Tiger, Viva Macau) arriving and increased capacity

  • Current lack of capacity having positive and negative affects

    International

  • Geographic expansion – FCm in Dubai, India leisure (Flight Centre) as well as growing retail and SME corporate in all overseas markets.

  • 40% of TTV and 34% of profits now from overseas. Will target 50/50 split within three years.

  • FCm network continues to grow and add to our global networking opportunities. Now represented in more than 60 countries, 10 of them FCL owned.


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Acquisitions

  • Primarily targeting small, profitable companies with niche products and services, mainly in travel but also in other retail fields.

  • Will consider larger opportunities that enhance FLT’s overall operations and provide scale in a targeted international market.

  • Long-term aim to have substantial sized operations (as compared to AUS/NZ) in North America, UK/Europe and India.

  • Working to mitigate impact of regulatory requirements on ability to borrow

  • Current evaluations ongoing and incomplete



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