Moonpig Group (MOON) H2 2026 earnings summary

Executive summary

• Delivered strong financial performance with 6.5% revenue growth to £373m, driven by Moonpig and Greetz.

• Adjusted EBITDA rose 8.1% to £104.6m, with margin at 28%.

• Adjusted EPS increased 19.5% to £0.18, supported by profit growth and share buybacks.

• Free cash flow grew 11.2% to £73.5m, reflecting high margins and disciplined capital allocation.

• Strategic focus on leveraging group assets, deepening customer relationships, and operational excellence, including data and gifting expansion.

Financial highlights

• Revenue up 6.5% year-over-year to £373m; Moonpig revenue up 8.6%, Greetz up 4.5% (1.5% in local currency).

• Adjusted EBITDA increased 8.1% to £104.6m; margin stable at 28%.

• Adjusted PBT up 13.4% to £76.5m; adjusted basic EPS up 19.5% to £0.18.

• Free cash flow up 11.2% to £73.5m, with 70% EBITDA conversion.

• Capital expenditure rose to £15.9m, mainly for automation and software.

Outlook and guidance

• Targeting mid- to high single-digit annual revenue growth and adjusted EBITDA margin of 25%-27%.

• Aiming for double-digit adjusted EPS growth and continued capital returns to shareholders.

• FY 2027 trading in line with expectations; focus remains on sustainable, high-quality growth.

• Continued investment in fulfilment and delivery, with capital expenditure expected at 4–5% of revenue.

• Net leverage to be maintained at ~1.0x Adjusted EBITDA.