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Highlights

  • MONY sees an 11.5% revenue hike in FY23, driven by insurance trading and acquisitions.
  • Backed by strong cost-effective measures, the company’s EBITDA went up by 14.2% in FY23.
  • The company increased its dividend distribution by around 3% on a year-on-year basis.

Moneysupermarket.com Group PLC (LON: MONY) is an FTSE 250 index listed company. It operates a price comparison website-based business specializing in financial services.

Backed by extraordinary trading in insurance and an effective acquisition strategy to cater to growth prospects, the company’s group revenue went up by 11.5% in FY23 versus FY22.

Similarly, EBITDA went up by 14.2% as the company adopted strong cost-effective measures to uplift profit margins. Further, the profit margins escalated by expanded offerings with membership-based customer propositions.

Additionally, the company demonstrated greater operating efficiency in FY23 with an Asset Turnover of 1.06x surpassing the industry median of 0.47x.

The company’s dividend distribution increased by around 3% on a y-o-y basis, adding up to GBX 12.1 per share in FY23, compared to GBX 11.7 per share in FY22.

Recent business update

Recently (16 Apr), the company released its update for the first quarter of 2024. The company’s revenue grew by 8% in the quarter, owing to continued growth in car and home insurance while maintaining high levels of switching. Predominantly, there was a significant increment in y-o-y car insurance premiums. Further, the borrowing products grew in support of credit card switching.

Company outlook

MONY is expecting minimal increase in the energy switching revenue in the year 2024 while targeting its EBITDA to be within the market consensus. Besides, the company expects that comparative analysis within the insurance sector will be quite challenging into the second half of 2024. Considering this, the product segment, SuperSaveClub is to cater to a greater number of customers by enabling them to save more money across more products.

Top 10 shareholders

The top 10 shareholders collectively form ~51.12% of the total shareholdings. Gruppo MutuiOnline SpA holds the highest number of shares with ~8.02% shareholding, followed by Columbia Threadneedle Investments (UK) with ~5.07% shareholding, as depicted in the chart below:

Stock performance

The share price of MONY has plummeted by ~1.83% in the last one month and over the last 6 months, it has decreased by ~17.18%. The stock has a 52-week low and 52-week high of GBX 206.80 & GBX 288.80, respectively. Currently, it is trading below the average of 52-week high-low.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 26 April 2024. The reference data in this report has been partly sourced from EODHD/Others.