YouGov (YOU) investor relations material

Executive summary

• Revenue increased 2% year-over-year to £194.8m, driven by resilient demand and growth in the Research division.

• Statutory operating profit rose 14% to £16.8m, while adjusted operating profit fell 20% to £24.0m due to significant investments, especially in the Shopper division.

• AI-driven innovation and automation are central to strategy, leveraging proprietary data engines and panel.

• A Value Delivery Plan (VDP) has been launched, targeting margin optimization and operational efficiency in multiple waves.

• Board plans a share buyback programme post-refinancing, replacing the annual dividend.

Financial highlights

• Adjusted operating profit was £24.0m, down 20% year-over-year, with margin at 12.3%.

• Statutory operating profit was £16.8m, up 14% year-over-year; adjusted EPS was 11.4p, down 19%.

• Gross margin stable at 81%; cash at period end was £32.8m; net debt at £160.3m with leverage ratio of 2.1x.

• Cash generated from operations was £22.6m, with improved cash conversion rate to 59%.

• £20m of term debt paid down since H1 2025, with further repayments scheduled.

Outlook and guidance

• Full-year adjusted operating profit guidance set at £52–56m, at the lower end of consensus, including £6m incremental investment in Shopper.

• Excluding Shopper investment, guidance would be £58–63m.

• Value Delivery Plan expected to deliver over 350bps of annualized adjusted operating profit margin uplift by FY 2027.

• 80% of full-year revenue is contractually covered, up from the prior year.

• Board to provide further updates at a Capital Markets Day before year-end.