Trading Update

5 April 2022

Moonpig Group plc

Trading Update

Moonpig Group plc (the "Group"), the leading online greeting card and gifting platform in the UK and the Netherlands, today provides an update on its trading performance in the current financial year.

Trading performance has remained strong. We now expect that Group annual revenue in the financial year ending 30 April 2022 will be around £300 million, with the upgrade reflecting the temporary impact of Covid-19 on customer behaviour in late December and January. Our expectations for underlying revenue in FY22 remain unchanged at approximately £265 million.

Trading in February and March has provided further evidence that supports our previously announced expectations of a permanent uplift in customer cohort frequency compared to before Covid-19. Accordingly, we remain confident in our existing expectations for the next financial year.

We continue to invest in the Group's technology platform and operations network to increase capacity and to underpin our medium-term target for percentage underlying revenue growth in the mid-teens. Margin trends remain resilient in the near and medium term and in this context, we reiterate our medium-term target for Adjusted EBITDA margin rate of approximately 24% to 25%.

Nickyl Raithatha, CEO, commented:

"Today's update reflects continued strong trading performance post-lockdowns, including a very successful UK Mothers' Day, and we remain confident in the outlook for the year ahead. Moonpig Group has delivered a permanent step change in scale over the past two years, with a larger customer base displaying higher loyalty than pre-pandemic. The long-term opportunity remains vast, and we have never been in a better position to deliver against Moonpig Group's strategy to become the ultimate gifting companion."

Enquiries

Brunswick Group                                                 +44 20 7404 5959

Sarah West / Fiona Micallef-Eynaud                       moonpig@brunswickgroup.com

Moonpig Group                                                   

Nickyl Raithatha, Chief Executive Officer              investors@moonpig.com

Andy MacKinnon, Chief Financial Officer

About Moonpig

Moonpig Group plc (the "Group") is a leading online greeting card and gifting platform, comprising the Moonpig brand in the UK and the Greetz brand in the Netherlands. In both markets, the Group is the clear online market leader in cards.

The Group's leading customer proposition includes an extensive range of cards, a curated range of gifts, personalisation features and next day delivery offering.

The Group offers its products through its proprietary technology platforms and apps, which utilise unique data science capabilities designed by the Group to optimise and personalise the customer experience and provide scalability. Learn more at https://www.moonpig.group/.

Forward Looking Statements

This announcement contains certain forward-looking statements with respect to the financial condition, results or operation and businesses of Moonpig Group plc. Such statements and forecasts by their nature involve risks and uncertainty because they relate to future events and circumstances. There are a number of other factors that may cause actual results, performance or achievements, or industry results, to be materially different from those projected in the forward-looking statements.

These factors include general economic and business conditions; changes in technology; timing or delay in signing, commencement, implementation and performance of programmes, or the delivery of products or services under them; industry; relationships with customers; competition; and ability to attract personnel. You are cautioned not to rely on these forward-looking statements, which speak only as of the date of this announcement. We undertake no obligation to update or revise any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances.