London · Delayed Price · Currency is GBP · Price in GBX AO World Earnings Call Transcripts
Fiscal Year 2026
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Revenue rose 11.4% to £1.27bn and adjusted PBT grew 16% to £50.5m, with strong free cash flow and a swing to net funds. AO Mobile and musicMagpie are now profitable, and further shareholder returns are planned. Guidance for FY 2027 is in line with consensus, despite ongoing inflationary pressures.
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Group sales rose 14% year-over-year to GBP 586 million, with PBT up 10.4% to GBP 18 million and strong free cash flow supporting a GBP 10 million share buyback. Membership growth, the launch of Switch24, and Magpie integration are driving share gains and margin improvement, with upgraded full-year profit guidance.
Fiscal Year 2025
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Record turnover of £1.1 billion and 32% profit growth were achieved, driven by strong B2C sales, membership expansion, and operational efficiencies. Strategic focus includes integrating musicMagpie, resolving mobile segment challenges, and targeting a 5% PBT margin.
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Double-digit B2C growth and improved gross margins drove a 30%+ profit increase and upgraded guidance, with strong cash flow and continued investment in recycling and customer engagement. Labour cost headwinds and market shifts remain key risks.
Fiscal Year 2024
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Record adjusted PBT and EPS growth were achieved, with gross margin at 23.4% and strong cost control. The business returned to revenue growth in Q4, expects double-digit growth and higher PBT next year, and is investing in inventory and systems while managing inflation and market headwinds.