Last checked at 19 Sep 2023 07:00
19 September 2023
Moonpig Group plc
AGM Trading Update
Moonpig Group plc (the "Group"), the leading online greeting card and gifting platform in the UK and the Netherlands, is holding its Annual General Meeting today. In advance of this, the Group provides an update on its performance for the current financial year (commencing 1 May 2023) to date.
Trading remains in line with expectations and we reiterate existing guidance. We continue to deliver innovation for our customers and are encouraged by adoption levels for new features, including our Moonpig Plus subscription service in the UK, the Greetz app in the Netherlands, and creative card features, such as video messages, across both brands. The work to re-platform our Experiences business is progressing well, with several segments of the user journey already upgraded.
In the context of the continued challenging macroeconomic environment, we continue to expect pro forma revenue to grow at a low single digit percentage rate in the first half of the current financial year, underpinned by the Moonpig brand, which remains in growth. For the full financial year, we continue to expect consolidated revenue growth at a mid to high single digit percentage rate, with all our brands returning to growth in the second half. Adjusted EBITDA margin is expected to remain resilient.
Enquiries
Brunswick Group +44 20 7404 5959
Sarah West, Fiona Micallef-Eynaud, Sofie Brewis moonpig@brunswickgroup.com
Moonpig Group
Nickyl Raithatha, Chief Executive Officer investors@moonpig.com, pressoffice@moonpig.com
Andy MacKinnon, Chief Financial Officer
About Moonpig
Moonpig Group plc (the "Group") is a leading online greeting cards and gifting platform, comprising the Moonpig, Red Letter Days and Buyagift brands in the UK and the Greetz brand in the Netherlands. The Group's leading customer proposition includes an extensive range of cards, a curated range of gifts, personalisation features and next day delivery offering.
The Group offers its products through its proprietary technology platforms and apps, which utilise unique data science capabilities designed by the Group to optimise and personalise the customer experience and provide scalability. Learn more at
https://www.moonpig.group/.
Forward Looking Statements
This announcement contains certain forward-looking statements with respect to the financial condition, results or operation and businesses of Moonpig Group plc. Such statements and forecasts by their nature involve risks and uncertainty because they relate to future events and circumstances. There are a number of other factors that may cause actual results, performance or achievements, or industry results, to be materially different from those projected in the forward-looking statements.
These factors include general economic and business conditions; changes in technology; timing or delay in signing, commencement, implementation and performance of programmes, or the delivery of products or services under them; industry; relationships with customers; competition; and ability to attract personnel. You are cautioned not to rely on these forward-looking statements, which speak only as of the date of this announcement. We undertake no obligation to update or revise any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances.