Mony Group (LON:MONY) executives said the company delivered “record revenue and record adjusted EBITDA” in 2025, despite what management described as sector-specific headwinds and a tough trading backdrop, particularly in insurance and cashback. Chief Executive Officer Peter Duffy and Chief Financial Officer Niall McBride also emphasized continued momentum in the company’s membership strategy, expanding provider services, and a growing role for artificial intelligence across product development, customer journeys, and cost efficiency.
2025 financial results and cash returns
McBride reported group revenue of GBP 446 million, up 2% year over year, with adjusted EBITDA of GBP 145 million, also up 2%. Adjusted EBITDA margin improved to 33%, which management attributed to cost discipline and operating costs that were 4% lower than the prior year, supported by the company’s centralized platform and “increasing use of AI.”
Management reiterated the business is “highly cash generative,” with Duffy noting the group consistently generates over GBP 100 million of trading cash flow annually. In 2025, the company returned GBP 96 million to shareholders through dividends and a share buyback program. The board recommended a final dividend of 9.30 pence, taking total dividend per share to 12.63 pence for 2025, up 1%.
The company also announced a new share repurchase program of up to GBP 25 million to be executed through 2026, which executives said reflects confidence in the group’s outlook and is funded from expected excess free cash.
Segment performance: insurance pressure offset by money and home services growth
In insurance, MONY generated revenue of GBP 233 million, down 1%. McBride said the business faced a “substantial decrease” in car insurance premiums, down 9% on average year over year, while home insurance premiums declined 2%. He added that headwinds in car insurance began to ease in the second half, “particularly in Q4,” and that life insurance performed well, supported by a streamlined customer journey.
The Money segment delivered revenue of GBP 106 million, up 8%. McBride said borrowing products drove most of the growth as interest rates came down, with “robust switching” in credit cards supported by MoneySavingExpert’s Credit Club offering and an improving trend in mortgages. In banking, savings continued to grow and current accounts recovered from a weaker first half, with conversion improved through personalized pre-approval information, eligibility alignment, and AI-enabled prompts.
Home services revenue rose to GBP 48 million, up 33%. Energy accounted for most of the growth, though McBride noted it was from an immaterial base in 2024. He said price cap announcements encouraged more providers to return to the platform, and the company ran its first collective energy switch since 2021 in October. Broadband also performed well, driven by improvements to an AI-enabled switching journey and rising conversion. The CFO also highlighted a 28% increase in regional “Altnet” providers joining the platform year over year.
Cashback revenue fell to GBP 53 million, down 13%. Management pointed to subdued U.K. consumer confidence and non-essential spending, along with pressure on marketing budgets—particularly in affiliate channels—as advertisers reassessed spending. Duffy said the company focused on improving proposition quality while maintaining tight cost control.
Travel consolidation change and presentation
McBride noted that the group moved in December to a minority position in its travel business, Ice Travel Group, and as a result the statutory results include 11 months of ITG trading. The travel segment (icelolly.com and TravelSupermarket) delivered GBP 18 million of revenue over the 11 months to December 1. Management described travel trading conditions as difficult due to intense competition and sustained higher acquisition costs. The travel segment will no longer be consolidated in group results for 2026 and beyond.
Membership strategy: SuperSaveClub scale and economics
Duffy said the group’s two-sided marketplace strategy is working, with member-based propositions converting transactional users into more engaged members. The flagship SuperSaveClub reached over 2.1 million members, up 1.1 million from the prior year, and management said it sees “no sign of this slowing.”
McBride compared the economics of members versus non-members, citing higher transaction frequency and spending. He said average revenue per user was GBP 35 for SuperSaveClub members versus GBP 20 across the group, while cross-inquiry rates ran at 45%, more than double outside the club. He added that SuperSaveClub incremental margin was 75% compared with 62% for non-members, and that by year three, member lifetime value was double that of non-members.
Management also linked membership growth to reducing reliance on paid marketing amid rising costs. McBride said pay-per-click inflation increased 21% over the last 12 months, following significant inflation at the end of 2024. He noted a 70% increase in completely new-to-book customers and said 20% of membership is new-to-book. SuperSaveClub currently represents 16% of total sales, with “significant headroom” ahead.
AI-enabled product launches and new routes to market
Duffy outlined a multi-year AI roadmap, moving from trials in 2023 to experimentation in 2024, standardization in 2025 through an enterprise agreement with OpenAI, and “mandation” in 2026 to align processes for consistent AI usage. He said AI is being applied to improve customer experiences, unlock complexity to build new products, and drive efficiency.
Executives highlighted several recent launches and developments:
- Price Optimizer for car insurance, which Duffy said combines datasets to help customers get cheaper quotes and “went live last week.”
- Savings by MoneySuperMarket, also launched last week, which management described as enabling customers to find, open, and manage savings products directly, including features such as rate comparisons, FSCS information, pre-populated onboarding details, secure authentication, and the ability to move money into new products in a few clicks.
- A new route to market through the MoneySuperMarket app on the ChatGPT App Store, which Duffy said made MoneySuperMarket the first U.K. comparison website to launch there. Initial journeys include car insurance and broadband, plus conversational Q&A, current accounts, and savings, with additional journeys to be added “every few weeks” and most core journeys expected to be available in the app by the end of the quarter.
Duffy positioned savings as a “natural gateway into investments,” which he said the company expects to deliver later in the year. He also said the group plans to launch a dedicated SME banking product later in the year as part of broadening its reach beyond traditional comparison.
Looking ahead, McBride said recent trading performance, easing headwinds, and strategic momentum give the board confidence it will deliver 2026 adjusted EBITDA “within our current published consensus range.”
About Mony Group (LON:MONY)
MONY Group PLC is an established member of the FTSE 250 index. The Group operates a tech-led savings platform and leading UK brands including price comparison sites (MoneySuperMarket), cashback (Quidco) and a consumer finance content led brand (MoneySavingExpert). We cover a broad range of verticals including Insurance, Money, Home Services and Travel amongst others. Our purpose is to help households save money by giving them access to free online tools that enable them to compare and switch products.
