REA Group (REA) H1 2026 earnings summary

Executive summary

• Revenue for H1 FY26 rose 5% year-over-year to AUD 916 million, with EBITDA (ex-associates) up 6% to AUD 569 million and NPAT up 9% to AUD 341 million; EPS increased 9% to 258 cents.

• Announced a fully franked interim dividend of AUD 1.24 per share (up 13%) and an on-market share buyback of up to AUD 200 million commencing 23 February 2026.

• Achieved double-digit residential yield growth, record audience engagement, and expanded AI-led product offerings.

• Consolidated iGUIDE acquisition, divested PropTiger, and exited Housing Edge in India.

• Maintained a strong cash position with AUD 478 million as of 31 December 2025.

Financial highlights

• Revenue increased 5% to AUD 916 million; Australian revenue up 8%, international revenue down 31% due to India divestments.

• EBITDA (ex-associates) reached AUD 569 million, up 6%; NPAT was AUD 341 million, up 9%.

• Operating cash flow was AUD 373 million; closing cash balance at AUD 478 million.

• CapEx to revenue was 7% in H1, expected to remain within 7%-9% for FY 2026.

• Free cash flow was AUD 303 million; no external drawn debt.

Outlook and guidance

• National residential Buy listing volumes expected to decline 1%-3% for FY 2026, with 12%-14% Buy yield growth anticipated.

• Group core operating cost growth expected in the mid-single digits, with high single-digit growth for Australia.

• EBITDA losses in India forecast at AUD 40-45 million; associate losses to marginally improve.

• Focus on audience growth, product innovation, and leveraging data insights for future growth.