full year results › ~ › media › files › r › right... · cash bridge and dividend full...
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![Page 1: Full Year Results › ~ › media › Files › R › Right... · Cash bridge and dividend Full year 2015 11.2 142.2 0.9 (26.9) (1.8) (76.7) (36.5) 12.4 0 20 40 60 80 100 120 140](https://reader033.vdocuments.us/reader033/viewer/2022042402/5f11874bb6caad03692c42b6/html5/thumbnails/1.jpg)
Full Year Resultsfor the year ended
31 December 2015
26 February 2016
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Disclaimer
This presentation may contain forward-looking statements, including ‘forward-looking
statements’ within the meaning of the United States Private Securities Litigation Reform Act of
1995. These forward-looking statements are based upon current expectations and assumptions
regarding anticipated developments and other factors affecting the Group. They are not
historical facts, nor are they guarantees of future performance. Because these forward-looking
statements involve risks and uncertainties, there are important factors that could cause actual
results to differ materially from those expressed or implied by these forward-looking statements.
Further details of potential risks and uncertainties affecting the Group are described in the
Group’s filings with the London Stock Exchange including the Prospectus. These forward-
looking statements speak only as of the date of this presentation.
This presentation and a press release will be posted on the investor section of the Rightmove
website.
1
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Highlights
2
1. Before share-based payments and NI on share-based incentives
2. Before share-based payments, NI on share-based incentives and no related adjustment for tax
3. For Agency and New Homes customers
Revenue up to £192.1m
(2014: £167.0m)
+15%Revenue:
Underlying operating profit1
increased to £144.3m
(2014: £124.6m)
+16%Profit:
Underlying basic EPS2
grew to 121.4p
(2014: 100.3p)
+21%EPS:
Final dividend increased by
5p to 27p (2014: 22p) making
a total dividend of 43p per
ordinary share (2014: 35p)
+23%Dividend:
All free cash flow returned
to shareholders through
dividends and buybacks
(2014: £103.4m)
£112.5mCash returned:
As at 31 December 2015,
up 2% (2014: 19,304)
19,752Advertisers:3
Page impressions of 17.5bn
up from 15.4bn in 2014
+14%Site traffic:
Per month, up 10%
(2014: £684)
£754ARPA:3
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Revenue and costsRevenue
31. Before share-based payments and NI on share-based incentives.
Source: Rightmove
Costs1
£ m
illi
on
s
31.9
35.9
42.4
47.8
0.0
10.0
20.0
30.0
40.0
50.0
60.0
2012 2013 2014 2015
£ m
illi
on
s
119.4
139.9
167.0
192.1
0
20
40
60
80
100
120
140
160
180
200
2012 2013 2014 2015
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Profit and margin
41. Before share-based payments and NI on share-based incentives.
Source: Rightmove
Underlying
Operating profit1
87.5
104.0
124.6
144.3
0.0
20.0
40.0
60.0
80.0
100.0
120.0
140.0
160.0
2012 2013 2014 2015
£ m
illi
on
s
73.3% 74.3% 74.6% 75.1%Margin:
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Income statement
5Source: Rightmove
Year ended
31 December
2015
£m
Year ended
31 December
2014
£m
Revenue 192.1 167.0
Operating costs (47.8) (42.4)
Underlying operating profit
Underlying operating profit margin
144.3
75.1%
124.6
74.6%
Share-based payments (3.8) (2.7)
NI on share-based incentives (3.3) 0.2
Operating profit 137.2 122.1
Net financial expense (0.1) -
Profit before tax 137.1 122.1
Tax (27.6) (25.9)
Profit for the year 109.5 96.2
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Balance sheet
6Source: Rightmove
As at
31 December
2015
£m
As at
31 December
2014
£m
Property, plant and equipment 2.2 1.6
Intangible assets 1.4 1.5
Deferred tax assets 6.8 4.5
Total non-current assets 10.4 7.6
Trade and other receivables 27.5 24.3
Cash and money market deposits 12.4 11.2
Total current assets 39.9 35.5
Trade and other payables (31.6) (27.6)
Income tax payable (11.9) (12.9)
Total current liabilities (43.5) (40.5)
Provisions being non-current liabilities (0.2) (0.2)
Net assets 6.6 2.4
Share capital 1.0 1.0
Other reserves 0.4 0.4
Retained earnings 5.2 1.0
Total equity 6.6 2.4
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Cash bridge and dividendFull year 2015
11.2
142.2 0.9
(26.9) (1.8)
(76.7)
(36.5)
12.4
0
20
40
60
80
100
120
140
160
180
Cash Dec 2014 EBITDA beforeIFRS 2
Working capital Tax payments Capex Share buy backsincl costs
Dividends Cash Dec 2015
1. Before share-based payments and NI on share-based incentives and no related adjustment for tax
Source: Rightmove
• £112.5m (2014:£103.4m)
returned to shareholders
in the year
• 2.2m (2014: 3.1m) shares
bought back and
cancelled at an average
price of £33.79
•Closing cash and money
market deposits of
£12.4m (2014: £11.2m)
• Final dividend increased
by 5p to 27p
(2014: 22p)
7
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More customersAgency and New Homes
8
17,680
18,425
19,304
19,752
10
12
14
16
18
20
2012 2013 2014 2015
Th
ou
sa
nd
sT
ho
us
an
ds
Total UK Residential Properties
409,608
665,595
983,106
0
100
200
300
400
500
600
700
800
900
1000
Onthemarket Zoopla Rightmove
Th
ou
sa
nd
s
Source: Rightmove and AlphaWise Morgan Stanley Research (Average for Mar, May, Jun, Sep & Dec)
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More consumers and engagementPage impressions
9Sources: Google analytics and Rightmove
11.0
14.0
15.4
17.5
0
2
4
6
8
10
12
14
16
18
20
2012 2013 2014 2015
Bil
lio
ns
Leads
21.2
36.0
42.8
49.8
0
10
20
30
40
50
2012 2013 2014 2015
Mil
lio
ns
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Source: Comscore (Market share of time on desktop and mobile)10
More consumers and engagementMarket share of top 4 property portals
77%
74%
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More consumers and engagement
11
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More consumers and engagement
12
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Customers choosing to spend more
13Source: Rightmove
1. Agency and New Homes customers.
£ p
er
off
ice
/de
ve
lop
me
nt
pe
r y
ea
r
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
2012 2013 2014 2015
•ARPA1 up £70 (+10%) to £754 per month
per office/development (2014: £684)
•Spend on products and packages up 20%
on 2014 to £73.9m (2014: £61.4m)
• 2016 product and package upgrades
progressing according to plan
£529
£607
£684
£754/month
ARPA
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January 2010
January 2012
January 2014
January 2016
Pe
rce
nta
ge
of
Ind
ep
en
de
nt
Es
tate
Ag
en
cy
Off
ice
s
Total spend per month
Customers choosing to spend more
£1000/m+ £1500/m+ Newspaper
ARPA 2007
c£2500/m
27%
9%
4%
5%
1%
1%
14 Source: Rightmove
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More innovation to help customers be more
efficient
15
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Summary
• Record customer numbers
• Nearly 50% more UK properties than any other portal
• Significant growth in our audience with January 2016
continuing the trend
• More innovation to help customers be more efficient
• Average spend per advertiser continuing to grow
strongly
16