Ten Lifestyle Group Plc (TENG) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

I'm Alex Cheetle. I'm the chief executive co-founder, and Alan Donald's going to be talking soon as CFO. I'll be running through the highlights of the last year, and then Alan will talk through the financial results and a reminder of our business model. I'll then dive back in to an operational update and looking forward to where from here, and we'll have time for Q&A at the end. So overall, we've had a year where we've sustained the improvements of the last couple of years. So in the previous two reported years, we grew at 30% a year and we had a step change last year in profitability. And the good news is that that step change in profitability is sustained and the revenue growth is also sustained. So whilst we didn't grow revenues. And we didn't grow profit by much, albeit we did grow by a bit. What we did do was sustain a very big setup improvement from the previous years. And we're now in a great position to continue to grow because of our investment in tech and improving our proposition. And we'll talk more of that in a little. But also say that since the year end, we've won an extra large contract in the USA and we've won a medium contract in one of our most mature markets in Asia and both of those will make a difference to H2 of this current year and both of them are good signs of us growing in markets the USA uh the market with the most high net worths in the world uh and the market that we've grown into in uh asia is a super important market for us um which is also very good and we've won that from a competitor great growth in the last couple of years and and then we've sustained at around 63 million uh in net revenues active members have also uh stayed around the same in the last year after a lot of growth in the last two years Adjusted EBITDA is up, but pro...