On the Beach Delivers Strong Start to FY25 with Double Digit TTV Growth
Why we think this is good
The trading update from On the Beach Group plc indicates solid performance in the first part of the financial year, with double-digit growth in total transaction value (TTV) across both the Winter and Summer seasons. The company's asset-light operating model and focus on expanding its holiday offerings appear to be paying off, as it continues to outperform the wider UK consumer trends. While the update lacks specific financial details, the overall tone is positive, with the management team expressing confidence in delivering FY25 results in line with market expectations.
Key Points
- TTV growth of 10% year-on-year
- Winter 24/25 TTV up 18% and Summer 25 TTV up 10%
- Asset-light, low fixed cost operating model
- Expansion into City packages and international markets
- Confident in delivering FY25 Adjusted PBT in line with market expectations
Summary
On the Beach Group plc has reported a strong start to FY25, with TTV growth of 10% year-on-year and Winter 24/25 TTV up 18% and Summer 25 TTV up 10%. The company's asset-light, low fixed cost operating model has helped it navigate the wider inflationary pressures, allowing it to maintain competitive pricing and capture market share. Investment in technology has enabled the expansion of the Group's strategy into City packages and international markets, which are scaling rapidly. The Board is confident in delivering FY25 Adjusted PBT in line with market expectations.