REG - Mony Group PLC - AGM Trading Statement

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RNS Number : 7720H  Mony Group PLC  08 May 2025

8 May 2025

AGM Statement

 

 

Leveraging the strength in breadth of the Group, delivering on our strategy

 

AGM update

 

In advance of its Annual General Meeting today, MONY Group plc provides the
following update on trading for the period from 1 January 2025 to 30 April
2025.

 

Management expectations for the full year remain unchanged.

 

Trading update

 

MONY Group has delivered a modest increase in revenue relative to an
exceptionally strong comparative period in 2024. This has been achieved
through leveraging the strength in breadth of the GroupÕs established
portfolio of products and brands.

 

Insurance delivered a good performance in home, life and travel, in large part
offsetting the continued headwinds in the car insurance switching market.

 

Money has seen continued momentum in borrowing from H2 2024 contributing to
modest growth, despite fewer attractive banking promotions.

 

Home Services has achieved strong growth Ð in energy an increasing number of
providers offered promotional deals in advance of the April price cap, and in
broadband we have added more providers to our platform.

 

Travel remains stable despite the challenging economic conditions and
uncertainty currently impacting the UK consumer, though this has impacted
Cashback.

 

Strategic update

 

Our strategy is centred on growing our two-sided marketplace, focused on both
customers and providers. Continued momentum in our member-based propositions
is transforming our customer base from transactional users into long-term
members who come to us directly, and we are delighted to have delivered strong
growth in SuperSaveClub (SSC) which now has over 1.3 million members.

 

In line with our established capital allocation policy, we launched a share
buyback programme of up to £30 million on 17 February 2025. The programme,
funded by expected free cash flow, is progressing well with over £8 million
repurchased to date, and is on target to conclude in late 2025.

 

Outlook

 

We remain well positioned to deliver sustainable, profitable growth. Our
trading performance in the first four months of the year coupled with
continued momentum in the execution of our strategy underpins the BoardÕs
continued confidence that Adjusted EBITDA for the year will be in line with
current market expectations 1  (#_ftn1) .

 

For further information, contact:

 

Investors:

Niall McBride, Chief Financial Officer
niall.mcbride@monygroup.com / 0203 826 4688

Jennifer Cooke, Head of Investor Relations
jennifer.cooke@monygroup.com / 0203 846 2034

 

Media:

William Clutterbuck, H/Advisors Maitland
wclutterbuck@h-advisors.global / 07785 292617

 

 

This statement may include statements that are forward looking in nature.
Forward looking statements involve known and unknown risks, assumptions,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Group to be materially different from any
future results, performance or achievements expressed or implied by such
forward looking statements. Except as required by the Listing Rules and
applicable law, the Group undertakes no obligation to update, revise or change
any forward-looking statements to reflect events or developments occurring
after the date such statements are published. The information in this release
is based on management information.

 

 

 

 1  (#_ftnref1) Market expectations of adjusted EBITDA for 2025 from the
analyst consensus on our investor website is £145.1m with a range of £136.5m
to £151.7m.

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