Updated FY20 guidance

Tourism Holdings Limited
Tel: +64 9 336 4299
The Beach House
Fax: +64 9 309 9269
Level 1, 83 Beach Road
www.thlonline.com
Auckland City

PO Box 4293, Shortland Street

Auckland 1140, New Zealand



Self drive
Experiences
New Zealand
Australia
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Design &
Manufacturing
New Zealand
Australia

Guided
Experiences
New Zealand

14 September 2020

MEDIA | NZX RELEASE
TOURISM HOLDINGS LIMITED (thl)

UPDATED FY20 GUIDANCE

thl advises that it expects its underlying net profit after tax for the financial year ending 30 June
2020 (FY20) will be approximately $20 million. This compares to thl’s previous guidance range
of $17.5 - $19.5 million, as released on 25 June 2020.

This underlying result excludes the impact from a number of one-off items, including the partial
Togo exit undertaken in March 2020 which resulted in a one-off gain of $9.3M including tax
and foreign exchange benefits, a one-off tax benefit of $1.1M in the USA and the write-off of
$3.1 million of goodwill attributed to Kiwi Experience. thl’s FY20 statutory net profit after tax,
which is inclusive of these one-off items, is expected to be approximately $27 million.

thl’s net debt (bank borrowings less cash and cash equivalents) as at 30 June 2020 was
approximately $128 million. This compares to earlier expectations of net debt of approximately
$133 million, as noted in thl’s market release on 31 July 2020. The variance was primarily
attributable to the continued outperformance of vehicle sales, particularly in the United States.

thl will be releasing its financial results for FY20 on Friday, 18 September 2020.

ENDS


Authorised by:

Rob Campbell
Chairman, Tourism Holdings Limited

For further information contact:
Grant Webster
thl Chief Executive
Direct Dial: +64 9 336 4255
Mobile: +64 21 449 210

About thl (www.thlonline.com)

thl is a global tourism operator. We are listed on the NZX and are the largest provider of RVs for rent and sale in Australia and
New Zealand, and the second largest in North America. In the USA, we own and operate the Road Bear RV Rentals & Sales brand
and El Monte RV Rentals & Sales. In the UK, thl owns 49% of Just go Motorhomes. Within New Zealand, we operate Kiwi
Experience and the Discover Waitomo group, which includes Waitomo Glowworm Caves, Ruakuri Cave, Aranui Cave and The
Legendary Black Water Rafting Co. thl is a joint venture partner in Action Manufacturing LP, New Zealand’s largest motorhome
and specialist vehicle manufacturer.