Domain Holdings Australia Ltd
ASX:DHG
Domain Holdings Australia Ltd
Domain Holdings Australia Ltd. provides multi platform industry solutions. The Company’s brands portfolio includes Domain, Allhomes, Commercial Real Estate, Australian Property Monitors, Domain Review, Pricefinder, Domain Home Loans and Domain Insure. The firm operates through three segments: Core Digital, Consumer Solutions and Print. The Core Digital segment is a digitally focused real estate media and services business. The company provides residential, commercial and rural property marketing solutions and search tools. The company also provides information for buyers, investors, sellers, renters and agents over Australia. The Consumer Solutions segment connects consumers with services at different property lifecycle stages, home loans, insurance, trade services and residential utilities connections. The Print segment provides real estate newspaper and magazine.
Domain Holdings Australia Ltd. provides multi platform industry solutions. The Company’s brands portfolio includes Domain, Allhomes, Commercial Real Estate, Australian Property Monitors, Domain Review, Pricefinder, Domain Home Loans and Domain Insure. The firm operates through three segments: Core Digital, Consumer Solutions and Print. The Core Digital segment is a digitally focused real estate media and services business. The company provides residential, commercial and rural property marketing solutions and search tools. The company also provides information for buyers, investors, sellers, renters and agents over Australia. The Consumer Solutions segment connects consumers with services at different property lifecycle stages, home loans, insurance, trade services and residential utilities connections. The Print segment provides real estate newspaper and magazine.
Strong Revenue Growth: Domain reported half-year revenue of $175.3 million, up 27.9%, reflecting growth across every revenue line.
Margin Expansion: Ongoing EBITDA rose 53% to $68.5 million, with ongoing Core Digital margin reaching a record 50.9%.
Controllable Yield: Controllable residential yield increased 19%, driven by a mix of price and depth, and management remains confident in target yield growth of 12% through the cycle.
Segment Strength: Residential revenue grew 29%, Media/Developers/Commercial up 15%, Agent Solutions up 19%, Property Data Solutions up 21%, and Consumer Solutions up 60%.
Cost Guidance: FY '22 ongoing costs are expected to increase in the low teens from the FY '21 ongoing base, reflecting strong trading and targeted investment.
Positive Outlook: Management sees a robust property market with strong listings momentum, but notes year-on-year comparisons will become tougher due to prior year growth.
Dividend Declared: An interim dividend of $0.02 was declared.
