MONY Group (MONY) H2 2024 earnings summary

Executive summary

• Achieved record revenue of GBP 439.2 million, up 2% year-over-year, and adjusted EBITDA of GBP 142 million, up 7%, driven by strong insurance, cashback performance, cost control, and operational efficiencies.

• Helped UK households save an estimated GBP 2.9 billion in 2024, up from GBP 2.7 billion in 2023, with 13.8 million active users across MoneySuperMarket and Quidco.

• Strategic focus on member-based propositions and a two-sided marketplace, with SuperSave Club surpassing 1 million members and significant B2B expansion, including 35 live brands.

• Enhanced shareholder returns with a 3% dividend increase and announcement of up to GBP 30 million share buyback programme.

• Completed technology transformation, enabling advanced AI deployment and improved customer journeys.

Financial highlights

• Revenue grew 2% to GBP 439.2 million; adjusted EBITDA up 7% to GBP 142 million; adjusted basic EPS increased 5% to GBP 17.1.

• Operating profit grew 16% to GBP 113.3 million; profit for the year up 11% to GBP 80.2 million.

• Operating cash flow rose 13% to GBP 116 million; net cash position of GBP 8.4 million at year-end.

• Gross profit declined 1% to GBP 291 million; gross margin decreased from 68% to 66% due to higher PPC costs and B2B growth.

• Dividend per share increased 3% to GBP 12.5; share buyback program of up to GBP 30 million announced.

Outlook and guidance

• Board expects adjusted EBITDA for 2025 to be broadly within current published consensus (£143.1m–£151.7m).

• Ongoing focus on cost efficiency to mitigate operating cost inflation, with continued investment in member-based models and AI.

• Significant headroom for further member growth, especially in SuperSave Club.

• Well positioned for sustainable, profitable growth despite headwinds in car insurance switching.