Mortgage Advice Bureau (MAB1) investor relations material

Strategic direction and business transformation

• Focus on scaling the platform, leveraging technology, and evolving from a product-led to a platform-enabled growth model to drive sustainable, profitable growth over the next five years.

• Shift from episodic, transaction-driven revenue to a recurring, relationship-based economic model, prioritizing refinance leadership, customer retention, and lifetime value.

• Expansion into new lead sources and digital channels through acquisitions, notably Fluent and Dashly, broadening reach into refinancing and data-driven opportunities.

• Rebranding and a three-brand strategy to align with digital capabilities and target specific market segments, including first-time buyers and specialist sectors.

• Integration of the home moving ecosystem, with investments in conveyancing and surveying, aiming for a seamless end-to-end customer experience and new revenue streams.

Technology, data, and operational efficiency

• Platform enables scale without proportional cost increases, using structured data, automation, and AI to improve adviser productivity, compliance, and customer experience.

• High customer adoption of digital tools, with 86% of documents uploaded by customers and significant reduction in adviser processing time.

• AI-driven features include fraud detection, automated document categorization, and personalized customer engagement, supporting higher conversion and retention rates.

• Proprietary data asset underpins cognitive advice, journey personalization, and triggers for proactive customer outreach, creating a compounding competitive advantage.

• Platform architecture built for security, resilience, and scalability, with best-in-class cloud and monitoring tools, supporting partner integrations and future growth.

Financial performance and guidance

• 2025 revenue expected at £380 million, a 19% increase over 2024, with cash conversion above 100% and adjusted PBT margin at 11.3%.

• Margins temporarily impacted by product mix and strategic investment, but EPS and ROCE forecasted to rise, with a medium-term profitability target of at least 15%.

• Record revenue, profit, and EPS anticipated for 2025, supported by ongoing investment in technology, people, and M&A.

• Operating leverage to improve as fixed and semi-fixed costs stabilize, synergies from M&A are realized, and technology-driven efficiencies scale.

• By 2029, digital platform model and integration expected to accelerate margin expansion and returns on capital.