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Highlights

  • THL's sales of services increased 43.5% YoY to NZD 440.58 million in FY24.
  • Gross profit surged 34.8% YoY to NZD 547.55 million in FY24.
  • THL has reaffirmed its goal of NZD 100 million in NPAT by FY26.

Tourism Holdings Limited (NZX:THL) is a tourism and recreational vehicle (RV) rental company that operates globally. In the year ended 30 June 2024 (FY24), the company declared a final FY24 dividend of 5 cents per share, fully imputed and unfranked, bringing the total dividend for the year to 9.5 cents per share.

In FY24, THL's sales of services saw a 43.5% YoY increase, reaching NZD 440.58 million, while sales of goods grew by 34.8% YoY to NZD 481.15 million. The company's gross profit surged 34.8% YoY to NZD 547.55 million in FY24. During the reported period, the New Zealand Rentals & Sales, Action Manufacturing, and New Zealand Tourism divisions recorded their highest-ever EBIT results, driven by a rebound in international tourism and the expansion of Action Manufacturing through strategic acquisitions.

Notably, THL achieved a higher gross margin of 59.4% in FY24, significantly above the industry median of 39.8%, alongside an EBITDA margin of 22.6%, slightly exceeding the industry median of 21.6%.

Outlook

Looking ahead, THL remains optimistic about its financial trajectory. The company expects its underlying net profit after tax (NPAT) to increase in FY25, leveraging its leadership position in RV rentals, operational synergies, and disciplined capital management.

THL has reiterated its goal of achieving NZD 100 million in NPAT by FY26, maintaining confidence in the core assumptions underpinning this target.

Share performance of THL

THL shares closed 0.52% higher at NZD 1.95 per share on 3 February 2025. In one year, THL’s share price has dropped by nearly 48.94% and in the past three months, it has declined by around 2.53%.

52-week high of THL is NZD 3.78, recorded on 7 February 2024 and 52-week low is NZD 1.70, recorded on 10 June 2024. 

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is February 03, 2025. The reference data in this report has been partly sourced from EODHD/Others.