Rightmove plc (RMV) Q4 2022 Earnings Call

Investor webinar replay

Replay transcript excerpt

good morning everyone um for those of you who don't know me i'm andrew fisher i have the great privilege to be chair of rightmove and welcome and thank you for joining us uh in for the 2022 results q a um as most of you will be aware in fact probably all of you today is peter's last results presentation for rightmove and for the past 17 years and actually the last six years as our ceo peter has continued to lead our success as a business for which we want to recognize and thank him this morning i'd also like to thank you uh for the support and the collaboration that you've provided to both peter and the whole team at rightmove and i'm also extremely delighted to welcome johan sunstrom who as of monday will officially succeed peter as our ceo so without further ado peter for the very last time over to you thank you andrew uh good morning everyone hopefully you've had a chance to see the presentation uh i thought maybe i'd take a couple of minutes just to start off with a quick summary of all the words if you haven't quite made it to the end of the presentation in 2022 we really saw three distinct housing markets we began the year with a continuation of that frenetic post lockdown activity of the supply constraint market. By the start of the second quarter we began to ease back to a much more normal market and the interest rate shocks of the fourth quarter rapidly knocked that transition off course and that caused the market to slow significantly. I think our results in 2022 again demonstrate the strength of the right move model in all markets. underscoring that resilience we saw standout arpa growth of 125 pounds which is a record absolute amount for a normal year and i think it's testament to the innovation of the last two years which have helped drive that arpa grow...