The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Jonathan Pritchard - Peel Hunt - Analyst
: Good morning. Two, if I may. Just the stronger performance in the second half, was that a case of you just sort of nailing the big events, a great
Mother's Day, Valentine's? Or is it something utterly more fundamental that you've actually got this -- you've sort of cracked it from a growth
perspective? Just a bit of your thoughts on that.
And then, I'm sure this is in your pack of Q&A, but just on the timing of any sort of distribution, it would appear that you're not going to make a
huge amount of progress -- this isn't a criticism -- but not a huge amount of progress in the first half. So would you think any sort of conversations
would be more second half or 12 months from now, or do you think it might be sooner than that in terms of the cash return?
Question: Jonathan Pritchard - Peel Hunt - Analyst
: Lovely. Thank you very much, gents.
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JUNE 27, 2024 / 8:30AM, MOONM.L - Full Year 2024 Moonpig Group PLC Earnings Presentation (Q&A)
Question: Andrew Wade - Jefferies - Analyst
: Morning, chaps. Congratulations on a strong second half there. First of all, I just wanted to touch on sort of squaring the circle on the guidance.
You're sort of talking about mid-single-digit growth from the X breakage number, so say 5% on that. If you take even the top end of that 25% to
26% EBITDA range, it gets you to sort of 91-ish, and that compares to consensus of 94-ish for EBITDA. But you say you're trading in line, so I'm just
wanting to square the circle on that. Will it come out slightly above that 25% to 26% EBITDA margin range? Is that the balancing factor in there?
Question: Andrew Wade - Jefferies - Analyst
: Great. Okay, that's very clear. Thanks. Secondly, I think I already know the answer, but just to sort of run it by you, I guess, the maths on the mid-teen
EPS growth versus double-digit revenue growth, presumably, the differential comes from leverage over the interest and depreciation there rather
than anything else, or is factored into that some benefit on the interest line or some lowering of depreciation. I'm sort of interested as to the
mechanics there.
Question: Andrew Wade - Jefferies - Analyst
: Okay. So implicit within that is that there's some benefit from deleverage?
Question: Andrew Wade - Jefferies - Analyst
: Got you. Thanks. And then finally, on the sort of -- well, I guess, question for Nickyl, sort of looking at the gift attach side of things, could you talk
about what momentum's looking like on the gift attach side, if your aspirations in terms of where you can get to on gift attach have changed, and
what the big initiatives that you've got coming up to drive gift attach are? Thanks.
Question: Andrew Wade - Jefferies - Analyst
: Great stuff. Thank you very much.
Question: Caroline Gulliver - Equity Development - Analyst
: Good morning, and congratulations from me too. A really, really good turnaround, really good set of results. I just had a -- good morning. It's
Caroline Gulliver here. Congratulations from me too on a really strong set of results momentum.
I just had a follow-up question to Andy's question really on gift attach, all the initiatives you've got going on. I completely get that it's cards first
and that's the best way to market and best way to get people in. But I'm just wondering what you're doing as sort of overall brand marketing and
maybe introducing new customers to the idea that you're actually selling gifts and selling experiences and how you're getting the message across
more widely, or whether you just want to focus very much on cards first from a marketing perspective.
Question: Caroline Gulliver - Equity Development - Analyst
: Yeah, makes sense. Thank you.
Question: Sean Kealy - - Analyst
: Morning, guys. I just wanted to follow up on the gift attach point, if I can. So I was wondering if we could dig a bit more into some of the more
expensive experiences in particular. Are there any different strategies for driving attach, particularly for those more expensive products as compared
to some of the slightly lower ticket items?
Question: Sean Kealy - - Analyst
: Perfect. Thank you very much.
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