Ten Lifestyle Group Plc (TENG) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

what we're going to do is rattle through the highlights, talk about the reminder of the business model. Now we'll go through that fairly quickly because everyone on this call understands that very well. Talk about the financial results for the six months. Alan will go through those. I'm going to talk specifically about the tech update and what we're working on around AI and the platform. And then we'll discuss Outlook and then we'll have time for Q&A afterwards as well. So I am very pleased with the fact that we've got record adjusted EBITDA, both on an absolute level and on a margin level. And that's even more pleasing when it's adjusted for constant currency. But just in itself, it's record EBITDA. We've got our third quarter of positive PBT. Again, that's good news for the business. And we've got net revenue in line with H1 2023. So I would have liked that to have been higher. but it is up a constant currency, albeit not at the same levels of growing at 35% for the last couple of years. We've won some good contracts that bode well for the future and some contract extensions and active members are up 15% and continue to grow. And all of that has been happening as we continue to invest into tech proposition and AI and content. Now our mission remains the same. We want to become the world's most trusted service platform, both in terms of trusted by our members, for whom we deliver travel, dining, tickets, and various retail offers and events, but also working behind global brands that use us to achieve their own customer metrics. So for our members, It is about the big four, travel, dining, entertainment, which is music, theatre, sport, and so on. And then luxury retail, helping people buy some of the luxury items. But also in retail are things like organising flower...