Half Year 2026 Moonpig Group PLC Earnings Call Transcript
Key Points
- Moonpig Group PLC (FRA:769) achieved a 9.4% revenue growth, outperforming a challenging consumer backdrop.
- The company maintained a strong EBITDA margin of 27%, translating to adjusted EPS growth of 13%.
- Moonpig Group PLC (FRA:769) completed the first half of a GBP 60 million share buyback and increased its interim dividend by 25%.
- The company saw a 36% growth in Plus subscribers, reaching 1 million members, and an 11% increase in reminders to 107 million.
- New markets delivered impressive self-funded revenue growth of 32% year on year, with Ireland now sustainably profitable.
- Moonpig's gross margin rate decreased by 1.7% points to 55.8%, affected by higher gift attachment and increased shipping costs.
- The experiences segment saw a revenue decline of 8.9% year on year, despite operational improvements.
- Net finance costs rose to GBP5.7 million, impacted by foreign exchange differences on EUR denominated debt.
- H1 free cash flow was slightly lower at GBP8.6 million compared to GBP10.1 million last year, due to higher CapEx.
- The US market remains in the experimentation phase, indicating slower progress in scaling operations there.
Hi and welcome to the Moonpig Group half year results presentation. I'm Nickyl Raithatha, CEO, and I'm here today with Andy MacKinnon, our CFO. First, I'd like to draw your attention to the disclaimer. Please do take some time to read it.
In terms of the running order today, I'll start with a quick overview of the half. I'll then turn to Andy to run through the financials in detail, and then I'll close with an update on our strategic progress. Moon Pig Group is the undisputed online leader in a category that is still in the early stages of digital transition, with the number one position in the UK, and 70% online market share.
Our entire business is built on a simple yet powerful model. We leverage data and technology to drive exceptional customer loyalty and superior engagement. Using levers such as our 100 million reminders, and 1 million subscription members, we are consistently able to generate over 90% of our revenue from existing customers.
And this translates to a standout financial model
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