Full Year 2025 Moonpig Group PLC Earnings Call (Q&A) Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Ross Broadfoot - RBC Capital Markets - Analyst : So three for me, please. Just firstly on the strong customer growth, can you give any color on what's working particularly well and resonating with those customers and the degree to which you think that growth is sustainable at this kind of level. And then the second, how should we think about the order frequency from here? Obviously, some impact from that strong customer growth on frequency, but just thinking about that in the context of the higher frequencies from the growing plus customer base. And then number three, just on greets. As you mentioned, and improving trajectory, but still a bit more to do. Realize there are a number of things you're working on here, but what would you flag as the most important?

Question: Andrew Wade - Jefferies - Analyst : A couple from me. The first one just talking through the softer H2 trends specifically in the Moonpig brand. Could you give any sort of detail on where that's been. Is it been in the new customer acquisition side, the frequency? How prices work through trading down. Just what they -- what detail, if any, you can give us behind that, and then what levers you pulled to re-accelerate that because obviously, we've seen an acceleration the start of '26. That's the first one. Do you want me to fire them off or do you want to do them in turn? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 26, 2025 / 7:30AM, MOONM.L - Full Year 2025 Moonpig Group PLC Earnings Call (Q&A)

Question: Andrew Wade - Jefferies - Analyst : And the second one, we sort of had revenue coming in towards the bottom of the guided range, but profit dropped through whether look at EBITDA or PBT was stronger. Any sort of anything you can point to in terms of why that second half profit extraction was so strong. Was there any one-off element in there or it's just sort of just traded?

Question: Andrew Wade - Jefferies - Analyst : And then final one, Nico, sorry to hear you seem to move on, but good luck with whatever you do next. So we've got a year, of your left, but potentially, I'm interested as to what you would do differently if Moonpig was private, and maybe now is a good time to reflect on that. If there is indeed anything you would do different.

Question: Adam Tomlinson - Berenberg - Analyst : A lot of them have actually been asked, but I suppose, first one, for Andy, just on free cash flow, obviously, stand out in in today's results. And if you could maybe just talk through that slight step up you've seen there, and then looking forward, what we should expect, are there any big investments I guess coming that could depress that free cash flow level just a bit of commentary around that would be helpful, please. That the first question and then I suppose the second one to Nickyl, inevitably, the shares reacting today to the news of you stepping down. So I suppose what might be helpful, is just to get a recap on why there isn't a need for investors to worry here, why the group is so well set? Looking forward and perhaps with reference to some of the operational team that you that you have in place, and I know we met those at the Capital Markets today, but just a reminder of that might be quite helpful.

Question: Alison Lygo - Deutsche Numis - Analyst : First one, could you talk a bit about advertising revenue that you're generating? Interested in terms of how that sort of trended through the year and what you're sort of expecting and working on for the year ahead. And then the second one, just interested in terms of the consumer behavior you're seeing around delivery options. So obviously, the gap between a kind of a first class price stamp and, the track option you're offering isn't huge now. So interest in terms of what you're seeing, in terms of the consumer behavior between picking, between those two, and how that's maybe trending. And then the final one I had was just anything to highlight in terms of the development of that gifting range. So thinking both in terms of new categories that you're feeling like you might want to expand into, but also how you're thinking about categories and kind of premiumizing within it.

Question: Matthew McEachran - Singer Capital Markets - Analyst : You sound quite optimistic, Nickyl, about the experiences and changes that you're implementing. And there's a bit of detail in terms of slides, 28 to 30, but I just wondered if you could really elaborate a bit more and also the timelines for some of these changes to make a real difference. You talked about medium term, but is there scope for this business to start pivoting back to a growth trajectory, later on this financial year?

Question: Matthew McEachran - Singer Capital Markets - Analyst : No, sure, no, that's pretty helpful background. I mean, do you think that part of, once you've completed, once you've got some scale in terms of the new proposition, the range, would you envisage the brands needing some additional marketing just to raise awareness, or do you think you would just simply be trying to convert your existing traffic and spend? And then reinvest some once the business is back on a positive footing, and then start reinvesting in in additional marketing.

Question: Anubhav Malhotra - Panmure Liberum - Analyst : I just wanted to also ask on the experience in business. I mean, do you feel comfortable with the level of earnings that you make in the experiences business? And is that a factor and in giving it more back to some of the new suppliers that you want to onboard onto the platform? To be able to let them get in without giving up too much of there because obviously, I mean, some of the restaurants or the experienced businesses all over the UK are under pressure on their margins as well. So maybe giving up some of that, would be a way of getting them into you feel that's something you can do. And then second one again on the experience of business, you have two brands there. This buy gift this that later days. Do you think there's a need for a more clear differentiation between what the two each of the two brands stands for or do you think it is already very clear in the consumer's mind?

Question: Wayne Brown - Panmure Liberum - Analyst : So I'm a bit -- I was a bit late at the call, so this question's been asked. Humble apologies. But Funky Pigeon is kind of de facto up for sale and it's our understanding that their marketing budget has been pulled back somewhat. So can you give us some indication on two levels? One, on an organic search perspective or maybe even also paid. Are you performing better now than you were historically? And maybe is there some frustration, maybe that that isn't necessarily yet being seen in the underlying growth of Moonpig itself, or am I just looking at this in the wrong way and I'm missing something?

Question: Wayne Brown - Panmure Liberum - Analyst : Yeah, I know it's more a relative question as to trends beforehand, but that's fine.