Full Year 2024 REA Group Ltd Earnings Call Transcript
Key Points
- REA Group Ltd (ASX:REA) reported a 23% increase in revenue to $1.45 billion for FY24.
- EBITDA, excluding associates, rose by 27% to $825 million.
- Net Profit After Tax (NPAT) increased by 24% to $461 million.
- The company declared a final dividend of $1.02 per share, bringing the total dividend for the year to $1.89 per share, a 20% increase.
- REA India achieved a 31% revenue increase, driven by strong performance in Housing.com.
- Operating expenses increased by 18% to $628 million, impacting overall profitability.
- The developer business faced challenges with project launches down 13% due to increased input costs and labor shortages.
- Move, the North American business, reported a 10% decline in revenue due to challenging macroeconomic conditions.
- The company anticipates a marginally negative geo mix impact in FY25 due to the strong performance of Melbourne and Sydney in FY24.
- REA Group Ltd (ASX:REA) expects high single-digit group operating cost growth in FY25, driven by increased employee and technology costs.
Good day, and thank you for standing by. Welcome to the REA Group Limited full-year results 2024 conference call. (Operator Instructions) Please be advised today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Alice Bennett, Head of Investor Relations. Please go ahead.
Good morning, and welcome, everyone. My name's Alice Bennett, Head of Investor Relations, and I'd like to thank you for joining REA Group's 2024 full-year results presentation.
Before we commence, I'd like to acknowledge the traditional owners of country throughout Australia and recognize their continuing connection to lands, waters, and communities. We pay our respects to Aboriginal and Torres Strait Islander cultures and to elders past and present.
Today, you'll hear from REA's CEO, Owen Wilson; and Janelle Hopkins, REA's CFO. Owen will talk to our overarching financial performance and strategic highlights for the full year. We'll then hand over to Janelle to talk
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