Kelsian Group (ASX:KLS) completed the sale of its tourism portfolio to Journey Beyond for gross cash proceeds of AU$149.9 million, including AU$4.3 million for preliminary working capital and net debt adjustments, according to a Wednesday filing with the Australian bourse.

The divestment positions Kelsian as a more focused commuter and contracted transport business with low earnings exposure to fuel price volatility and reduced capital intensity, the company said.

Kelsian also updated its fiscal 2027 guidance to reflect the sale and now expects underlying earnings before interest, taxes, depreciation, and amortization of between AU$295 million and AU$310 million, compared with a previous range of AU$320 million to AU$335 million.

The company is targeting capital expenditure of about AU$116 million, including AU$15 million deferred from fiscal 2026. It said fiscal 2027 trading so far has been in line with expectations.