Tourism Holdings Limited receives new takeover offer; FY26 Guidance maintained

THL announced a new take over offer and updated the discussions with the BGH consortium. Prior to that, on 29 May 2026, the firm announced its updated guidance for FY26.

Tourism Holdings Limited (ASX: THL)

on 25 June 2026, it has received another non-binding indication offer from a credible strategic buyer interested in purchasing 100% of the company. This offer places the value of the firm between NZ$3.30 and NZ$3.40 per share. This offer is conditional on a number of matters such as completion of due diligence among others. It also requires a unanimous recommendation from THL to shareholders, subject to normal fiduciary exceptions. THL has agreed to provide due diligence access under a signed confidentiality agreement. The company emphasized that this step does not mean a transaction will occur and there is no certainty that the proposal will lead to a final deal.

THL also provided an update on its engagement with the BGH Consortium. Discussions are continuing regarding a confidentiality agreement that would allow the consortium to begin its due diligence review. The company stated that it remains willing to work constructively with the consortium and provide access to information once acceptable terms are agreed. THL noted that neither the newly received proposal nor the revised BGH Consortium offer announced on 29 May 2026 is guaranteed to result in a transaction. Shareholders were informed that no action is required at this stage whereas discussions continue.

Revised FY26 Outlook and Financial Position

THL revised its FY26 financial forecast on 29 May 2026. Despite global disruption in travel and lower levels of consumer confidence, the company claimed that its bottom-line performance is not impacted and its balance sheet is solid. However, vehicle sales have been impacted by the Middle East conflict, Australian domestic rental demand has softened, and foreign exchange movements have affected performance. THL now expects FY26 underlying net profit after tax from continuing operations, excluding the divested UK and Ireland business, to be between $40 million and $43 million. The company remains within all banking covenant requirements and has more than $300 million of available capacity across debt and financing facilities. It also expects debt levels to reduce progressively through adjustments to vehicle purchasing plans.

Market Outlook and Business Initiatives

THL reported positive feedback from recent international travel trade shows and continues to see solid long-term demand for RV travel. Canada is expected to deliver a record summer season, while New Zealand outlook remains reasonably positive, although airline capacity and travel costs remain important factors. Bookings in the United States are currently above last year’s levels, while Australia has experienced softer domestic demand. The company identified September and October as important months for summer bookings. During FY26, THL completed the sale of its UK and Ireland operations, consolidated manufacturing into New Zealand, improved the Australian retail business, and continues to evaluate options to improve performance and unlock value in North America.

(Source: Company Report)