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Intrepid attributes record result to diversification and purpose

January 16, 2019 Headline News No Comments Email Email

The good times are rolling for the Intrepid Group, with revenue in 2018 nearing AUD 400 million, capping three consecutive years of growth for the adventure travel firm and its four tour-operator brands: Adventure Tours Australia, Intrepid Travel, Peregrine Adventures and Urban Adventures.

The independently-owned, multi brand company reported 17% growth in revenue, taking the group to AUD 397 million in 2018.

The Intrepid Group delivered an EBIT result of almost AUD 15 million in 2018, thanks to a 25% increase in underlying profitability that chief executive James Thornton believes is driven by an increasing global demand for sustainable travel and the company’s commitment to having a “Purpose Beyond Profit”.

Now the world’s largest provider of adventure travel experiences, Intrepid Group offers more than 2700 trips in 120 countries operated by the Group’s four tour operator brands that cater for all ages, budgets, and appetites.

The vertically integrated business also includes a global network of local destination management companies, as well as several suppliers in which Intrepid Group has a stake, such as Chimu Adventures. (In December, Intrepid Group announced that it woud become a seven-continent operator with the launch of a range of charters in Antarctica, in partnership with Chimu Adventures.)

This diversification has helped to protect the Group from the highs and lows of world events and deliver a strong profit result in 2018, Thornton says.

“Over the past 30 years we’ve seen many of our favourite places suffer through the lows of natural disasters and we’ve learnt how important it is to diversify not only where we go, but also our brands, products and sales regions so that we can cater to all ages, budgets and appetites for adventure.”

2018 also saw 60% growth in customer numbers from Urban Adventures and the opening of PEAK DMC Indonesia, the company’s 21st destination management company.

Headquartered in Melbourne, Intrepid Group employs 1800 staff and leaders in more than 40 offices around the world. Almost a quarter of the company’s 2018 profits will be paid out to staff in bonuses.

In 2018 Intrepid Group also achieved B Corp certification joining a growing global community of businesses looking beyond the bottom line.

The Intrepid Foundation, the Intrepid Group’s not-for-profit also marked a record year in 2017, raising AUD 1 million for local and international charities.

Thornton believes it’s the company’s commitment to creating benefit for all its stakeholders that has enabled Intrepid Group to achieve a record Employee Engagement score of 82% and a record customer feedback score of 4.7 out of 5 for the year.

“This year we celebrate Intrepid’s 30-year anniversary and it’s fantastic to be achieving this level of growth. We’re as committed to sustainable travel as we were in the beginning, so the truly inspiring thing for everyone here as Intrepid is just to see that the more we grow, the more we can do. Customers really are looking for businesses to be a force for good”.

Edited by Peter Needham

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