Foxtons Group plc (FOXT) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and thank you for joining the Foxton's 2025 full year results presentation. I'm joined, as always, by Chris Hough, our group CFO, and we will answer any questions at the end of the call. This morning, I will take you through some of the highlights of 2025, provide an update on the London property markets. Chris will then talk you through the financials, and I will finish with an update on our operational progress in the year, followed by some detail on the outlook for 2026. We delivered 5% revenue and EBITDA growth in the year, driven by incremental acquisitions revenue and operational progress in areas such as lettings, cross-selling and financial services. These higher revenues offset the challenging operating environment, including a volatile sales market and cost headwinds to deliver flat operating profit. These results highlight the resilience of our business as a result of our strategy to position Foxton's firmly as a lettings-led business. Our portfolio now exceeds 32,000 tenancies, which is up over 50% over the last five years, and these tenancies generate highly valuable reoccurring revenues. In 2025, these revenues generated over two-thirds of group revenue. We delivered 80% lettings market share growth through improved landlord attraction retention to build on our position as London's largest agent. And impressively for London focused business, we are also the UK's largest lettings brand. We continue to execute our strategy on acquisitions. In 2024, our acquisitions in Reading and Watford made a significant contribution to revenue growth. Recent acquisitions in Milton Keynes and Birmingham create strong platforms in high-value markets that complement our London base. And operationally, we haven't stood still. The business has embrac...