MONY Group (MONY) H1 2026 earnings summary

Executive summary

• Record half-year revenue of £227.1m, up 6% like-for-like and 1% reported, with adjusted EBITDA up 3% like-for-like and 1% reported, marking five consecutive periods of growth.

• Adjusted basic EPS increased by 5% to 9.7p, with basic EPS up 4%, and profit after tax up 1% to £46.1m.

• Strategic focus on AI-powered product innovation, member-based models, and product diversification, including launches in investments, SME banking, and a relaunched app.

• SuperSaveClub membership surpassed 2.5 million, now 19% of group revenue, driving higher engagement, cross-sell, ARPU, and margins.

• Over £1.5bn in estimated customer savings delivered in H1 2026.

Financial highlights

• Group revenue: £227.1m (+6% like-for-like, +1% reported); Adjusted EBITDA: £76m (+3% like-for-like, +1% reported), margin 33%.

• Adjusted basic EPS: 9.7p (+5%); Operating cashflow: £36.2m (down 17% YoY); Net debt: £31.8m at 30 June 2026.

• Interim dividend per share: 3.36p (+1%), with £25m share buyback in progress and over £19m repurchased to date.

• Gross profit: £142m (+1% like-for-like), gross margin decreased to 63% (from 66%) due to PPC cost inflation.

• Capex for H1 2026: £4.9m; headcount down 9%, people costs down 6% year-on-year.

Outlook and guidance

• Board confident in delivering 2026 adjusted EBITDA within current consensus (£140m–£148m).

• Cash conversion expected to improve in the second half; strong cash generation and disciplined capital allocation to continue.

• Well positioned for sustainable, profitable growth, leveraging AI and diversified revenue streams.

• Market conditions remain volatile, especially in energy and consumer confidence.