Investors

Capital markets event 2024

16 October 2024

A platform for compounding growth

Moonpig Group’s 2024 capital markets event outlined a clear vision for sustained, compounding growth. As the leader in the online cards and gifting market, Moonpig is leveraging its strong customer cohorts, market leadership, and data-driven technology to target double-digit revenue growth. The business continues to scale through investments in AI, platform innovation, and an expanding global footprint, including progress in Ireland, Australia, and the US. With resilient profitability and strong cash generation, Moonpig remains disciplined in capital allocation, underpinning shareholder returns with a progressive dividend policy and a share repurchase programme.

Watch our 2024 capital markets event

“Our business has structurally high profitability and cash generation, which combined with market leadership and our cohorts give us all the characteristics of a true platform business.”
Nickyl Raithatha

CEO

Medium-term operating targets

Revenue growth rate

Double digit percentage

Adjusted EBITDA margin

25% - 27%

(as widened upwards in Dec 2024)

Adjusted EPS growth rate

Mid teens percentage​

Strong operating cash flow and capital efficiency

Inventory

Single digit millions

Capex

4% - 5% revenue

Operating cash conversion

70% - 100% of Adjusted EBITDA

Disciplined capital allocation

Net leverage1

Approximately 1.0x Adjusted EBITDA

Dividend

Dividend cover of 3x - 4x
Growth in line with Adjusted EPS

Share buybacks

Return excess capital
where earnings enhancing

1. Net leverage is an Alternative Performance Measure, measured as the ratio of net debt to last twelve months Adjusted EBITDA. Net leverage target expressed on an IFRS 16 basis including lease creditors.

Supporting material

CMD video

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Presentation script

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Q&A transcript

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OC&C market report

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CMD announcement

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