Moneysupermarket Share Price Fell 2.45% on FY23 Annual Report

The Moneysupermarket.Com Group PLC (LON: MONY) share price fell 2.45% after unveiling its annual report for the year concluding on December 31, 2023, showcasing significant strategic and financial achievements.

In terms of strategic advancements, the company achieved a milestone by aiding households in saving an unprecedented total of £2.7 billion. This achievement was bolstered by completing a major data transformation initiative, with the proprietary Dialogue data platform now powering 76% of user inquiries on Moneysupermarket.com's (MSM) primary product categories.

Developing a unified technology infrastructure has also enhanced the company's scalability and streamlined its operations. 

The Group has broadened its consumer offerings by introducing membership-based services such as MSM SuperSaveClub, the MSE App, and Quidco. Furthermore, it has successfully launched and expanded provider-specific propositions, including business-to-business solutions, Tenancy services, and “Market Boost” data analytics services.

Recognition of the company's commitment to diversity and inclusion was highlighted by its top placement in the Technology sector, according to the FTSE Women Leaders Review, and its fifth-place ranking in The Inclusive Top 50 UK Employers list, underscoring its leadership in fostering an inclusive workplace culture.

From a financial perspective, Moneysupermarket.com Group PLC celebrated a year of record-breaking revenue, reaching £432 million, a notable achievement, particularly as it was accomplished without significant contributions from energy switching services. The company experienced an 11% increase in revenue, primarily driven by outstanding performance in the Insurance sector.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) saw a 14% increase, outpacing revenue growth, and amounted to £132 million. This growth in EBITDA is a testament to the company's efficient cost management strategies, resulting in an expanded profit margin of 31%.

The company also reported a 12% rise in adjusted basic earnings per share (EPS) and a 7% increase in operating cash flow before tax. However, due to higher tax rates, operating cash flow after taxes slightly decreased by 2%.

Peter Duffy, CEO of Moneysupermarket Group, commented: “We helped customers save a record £2.7bn in 2023. The more we can help households save, the more the Group grows. We're proud that in tough times for consumers, MoneySuperMarket, MoneySavingExpert, and Quidco have been able to make a real difference for so many.”

Moneysupermarket share price.

The Moneysupermarket share price fell 2.45% to trade at 244.75p from Friday’s closing price of 250.90p.