Slide 1: Full Year 2024 Results, period ended 31 December 2024
For the period ended 31 December 2024 5 March 2025
Slide 2: Full Year 2024 Results Presentation
Foxtons Group plc Full Year 2024 Results Presentation 2
Slide 3: Full Year 2024 Results Presentation
Foxtons Group plc Full Year 2024 Results Presentation 3
Slide 4: Full Year 2024 Results Presentation
Foxtons Group plc Full Year 2024 Results Presentation 4
Slide 5: Highlights
Highlights 1 Revenue growth (+11%) and adj. operating profit growth (+38%), adj. earnings per share growth (+47%). (1) 2 Number 1 estate agent in London and largest lettings brand in the UK. (2) 3 Market outperformance: Sales market share growth (+20%), Lettings new business growth (+12%). (3) 4 Imp
Slide 6: Full Year 2024 Results Presentation
Foxtons Group plc Full Year 2024 Results Presentation 6
Slide 7: London lettings market update
London lettings market update Supply and demand dynamics normalising with flat YoY rental prices. 200 £574 £572 £600 £529 181 180 • London lettings market continuing to normalise with increased levels 180 of rental stock and moderating tenant demand. Indexed property supply and tenant demand £460 15
Slide 8: London sales market update
London sales market update (1) 9% increase in London exchange volumes in 2024 Annual volume 10 yr avg. (2014-2023) • 2024 London exchange volumes 9% higher at c.88k transactions: YoY H1 132,000 volumes flat, YoY H2 volumes +16%. London exchange volumes 120,000 108,000 96,000 • Market exchange volume
Slide 9: Full Year 2024 Results Presentation
Foxtons Group plc Full Year 2024 Results Presentation 9
Slide 10: Progress against strategic priorities
Progress against strategic priorities (1) Strategic priorities Targets Progress in 2024 3%-5% 3.3% CAGR since 2022. Organic growth CAGR (2) • Lettings +12% YoY growth in Lettings new business volumes. 26% average annual return from acquisitions. Acquisitive Return: • Acquisitions of 2 commuter town
Slide 11: Progress against strategic priorities
Progress against strategic priorities Adjusted operating profit progression £21.6m £15.0m £15.7m Progressing against strategy to deliver growth through sales market cycles. £9.8m Earnings are underpinned by the non-cyclical and recurring Lettings £2.3m business and refinance activities in Financial
Slide 12: Full Year 2024 Results Presentation
Foxtons Group plc Full Year 2024 Results Presentation 12
Slide 13: Overview
Overview 2024 2023 Change (£) Change (%) Revenue £163.9m £147.1m +£16.8m +11% (1) Revenue and profits Adj. EBITDA £23.8m £17.5m +£6.3m +36% growth delivered through (2) Sales market share gains Adj. operating profit £21.6m £15.7m +£5.9m +38% and Lettings new business volumes and acquisitive Adj. ope
Slide 14: Overview
Overview Change Change £m 2024 2023 (£) (%) Revenue 163.9 147.1 +16.8 +11% 38% increase in adjusted operating profit to £21.6m (2023: £15.7m): Direct costs (59.1) (53.9) (5.1) (9%) • Revenue increased 11% to £163.9m, with Lettings revenue up 5%, Contribution 104.9 93.2 +11.7 +13% Sales revenue up 31
Slide 15: Segmental performance: Lettings
Segmental performance 2024 2023 Change (%) • Revenue increased by 5%: Financials • £4.3m of incremental acquisition revenue. • Transaction volumes flat with 12% increase in new business Revenue £106.0m £101.2m +5% volumes offsetting lower re-transaction volumes following longer tenancies signed in 2
Slide 16: Segmental performance: Lettings acquisitions
Segmental performance (Post-acquisition annualised) Acquisition Return on Portfolios Enterprise Pre acquisition multiple Year EBITDA invested acquired value EBITDA Revenue EBITDA (synergised (1) margin capital EBITDA) 2020 3 £4.8m £0.6m £3.0m £1.5m 50% 3.2x 26% 2021 1 £14.3m £0.6m £10.1m £6.1m 60% 2
Slide 17: Segmental performance: Sales
Segmental performance 2024 2023 Change (%) • Revenue grew by 31%, driven by volume growth: Financials • 20% market share growth. Revenue £48.6m £37.2m +31% • 9% improvement in market volumes. Contribution £22.7m £14.5m +57% • Improvement in contribution and contribution margin reflects 23% Contribut
Slide 18: Segmental performance: Financial Services
Segmental performance 2024 2023 Change (%) • Revenue increased by 6%: Financials • 2% increase in volumes, enabled by productivity gains, and offsetting the impact of increased numbers of mortgages requiring Revenue £9.3m £8.8m +6% re-broking. Contribution £4.0m £3.4m +18% • 5% increase in average r
Slide 19: Cash flow
Cash flow Operating cash to net free cash inflow/(outflow) conversion Opening to closing of net cash / (net debt) Net cash from operating activities: £24.7m 2024 2023 (+57% vs PY) Opening net debt (£6.8m) £12.0m £35.3m Net free cash flow £9.8m (£0.1m) Interest paid (£0.5m) (£0.2m) (£5.0m) (£4.9m) Ac
Slide 20: Capital allocation
Capital allocation Capital allocation framework Organic growth Investing in strategically important areas such as people, technology, data and brand. Acquiring high-quality lettings portfolios which contribute non-cyclical and recurring revenues Accretive acquisition opportunities and deliver strong
Slide 21: Full Year 2024 Results Presentation
Foxtons Group plc Full Year 2024 Results Presentation 21
Slide 22: Operational update
Operational update ✓ New Employee Value Proposition: “make it with ✓ Modernisation of Foxtons.co.uk website to drive us” to drive recruitment, retention and tenure. optimisation of customer leads. ✓ Improved fee earner retention rates driving 8% ✓ New Move-In app to streamline move-in process improv
Slide 23: Full Year 2024 Results Presentation
Foxtons Group plc Full Year 2024 Results Presentation 23
Slide 24: 2025 trading and outlook
2025 trading and outlook • Trading year to date is in-line with our expectations. • Lettings market dynamics expected to remain consistent with 2024. Rental levels are expected to remain broadly flat, whilst healthy stock levels support the Group’s focus on delivering organic growth. • The October 2
Slide 25: Contact
Contact: www.foxtonsgroup.co.uk investor@foxtonsgroup.co.uk +44 (0) 207 893 6261 Foxtons Group plc Full Year 2024 Results Presentation 25