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Results Centre

Business highlights
  • Revenue increase of 22% to £117.9 million and Adjusted EBITDA increase of 11% to £45.0 million
  • Record traffic of over 314 million visits to the Company’s websites and apps with 68%+ via mobile
  • Further product innovation and differentiation with the launch of new Move Planner tool on Zoopla
  • Acquisitions of Hometrack and Expert Agent help further improve product portfolio for our partners
  • Strategic investment in brands and products resulting in record levels of awareness & engagement
  • Continued to be highly cash generative with strong cash conversion ratio of over 90% during Period
  • Net debt4 at end of Period was £209.3m as a result of additional funding related to various acquisitions
  • Statutory Profit for the Period reduced by acquisition related costs and share-based payments
  • Interim dividend of 1.9p per share to be paid on 23 June 2017 to shareholders on register at 2 June
Property
  • Further UK Agency portal partner growth up 6% to 14,271 branches & inventory up 9% to 928k+ listings
  • Continued acceleration of win backs with 750 portal branches having returned to ZPG over past 2 years
  • Average revenue per partner5 (ARPP) up 5% driven by strong demand for both portal & software products
  • Total number of unique Property partners, including acquisitions, up 35% to 23,516 as at end of Period
Comparison
  • Strong switching levels across all verticals with revenue up 8% despite outperformance during H1 last year
  • 15.9 million leads generated helping consumers save over £137 million off their household bills over Period
  • Continued progress in developing & expanding financial services area with new dedicated mortgages team
  • Ongoing regulatory support for role of Digital Comparison Tools (DCTs) outlined in recent report by the CMA
Key financials (£m) H1 2017 H1 2016 YoY%
Revenue 117.9 96.4 22
Adjusted EBITDA1 45.0 40.5 11
Adjusted basic EPS2 (pence per share) 7.1 6.9 3
Profit for the Period3 16.9 22.6 (25)
Basic EPS (pence per share) 4.0 5.5 (27)
Interim dividend (pence per share) 1.9 1.5 27
  1. Adjusted EBITDA is defined as operating profit after adding back depreciation and amortisation, share-based payments and exceptional items.
  2. Adjusted basic EPS is calculated as profit for the period excluding exceptional items and amortisation of intangible assets arising on acquisitions, adjusted for tax and divided by the weighted average number of shares in issue for the Period.
  3. Profit for the Period includes exceptional items and amortisation of intangibles arising on acquisitions, adjusted for tax, of £13.0m during the Period, resulting from acquisitions
  4. Net debt increase year-on-year is a result of the acquisitions of Property Software Group, Hometrack and Expert Agent since 31 March 2016. 
  5. Average revenue per partner (ARPP) represents total revenue from ZPG’s Property partners in a given month divided by the number of Property partners during the month, measured as a monthly average over the Period.