MONY Group (MONY) Q3 2024 TU earnings summary

Executive summary

• Q3 revenue declined 2% year-over-year to £112.9m, with growth in Insurance and Cashback offset by declines in Travel, Money, and Home Services.

• Strategic initiatives, including SuperSaveClub, continue to gain traction, now exceeding 750,000 members and expanding product offerings.

Financial highlights

• Insurance revenue grew 1% in Q3 to £62.7m; nine-month revenue up 9% to £182.6m.

• Money segment revenue fell 4% in Q3 to £24.2m, with nine-month revenue down 3%.

• Home Services revenue dropped 8% in Q3 and 10% for the nine months.

• Travel revenue declined 15% in Q3 and 5% for the nine months.

• Cashback revenue increased 2% in Q3 and for the nine months.

Outlook and guidance

• Board expects full-year 2024 results in line with current market expectations for Adjusted EBITDA (£135.8m–£142.1m, average £140.0m).

• No material energy revenue anticipated for FY24.