SeaLink is far from sunk

THE parent company for marine tourism brands Captain Cook Cruises and SeaLink has posted a major turnaround in its profit after tax and amortization for the 12 months to 30 Jun, up by 152.5% on the previous period and delivering $74.7 million.

SeaLink Travel Group’s revenue also rebounded strongly for the 12-month period, rising by 88% to $1.73 billion from the previous year, while EBITDA also climbed by a similar percentage to $167.5 million.

While most of the turnaround was driven by the company’s government bus contract division, contributing the bulk of incomings with $702.1 million, the company noted that its tourism arm had performed strongly when demand was created by open borders.

SeaLink’s tourism brands contributed a total of $215.1 million in revenue for the period, servicing sea travel and travellers experiences to 14 domestic island distentions.

“The volatile domestic and interstate travel markets have presented challenges for our marine and tourism operations,” Group CEO Clint Feuerherdt said.

“Fortunately, domestic demand has been strong during periods where restrictions were eased and we continue to look for opportunities to capitalise on heightened tourism demand.”

SeaLink cited the leveraging of its marine and bus tour operations as a highlight of the period, and indicated the next 12 months would see a focus on enhancing tourism product to capture the resurgent demand.

Planning phases for new marine products are already in motion, while the company said it would also pursue bolt-on acquisition opportunities, and upgrade resorts and vessels in 2022.