Domain Group Financial Results for FY22 — Revenues up 23%, Net profit up 46%

Domain Holdings Australia Limited, Australia's number two portal operator, has released positive results for the FY22.

Highlights include:

• Revenue of A$356.7m, up 23% YoY
• Net profit of A$55.3m, up 46% YoY
• Earnings per Share A$0.093, up 43% YoY
• EBITDA of A$122.1m, up 21% YoY

Domain's results also reveal 16.7 million app launches per month, a 12% YoY growth in subscribers, and a 14% increase in controllable residential yield in the company's Core listings business.

It's been a transformational year for the company. Domain appointed Nathan Brumby and Rebecca Darley as CPO and CMO respectively in February, and followed it up with the big-money acquisition of campaign management platform company Realbase in April. Realbase contributed to Agent Solutions increasing 67% YoY, while a further acquisition of IDS in October 2021 contributed to Property Data Solutions increasing 35% YoY.

Jason Pellegrino, CEO at Domain, said:

"Domain’s strong FY22 performance is testament to the results of our Marketplace strategy, the talent and creativity of our team, and a supportive property market environment.

"Despite the widespread COVID-19-related lockdowns in the early part of FY22, the listings recovery continued and combined with our focus on controllable yield to drive our outstanding results. While property market fundamentals have become more challenging in a rising interest rate environment, we remain confident that the strategy we are implementing will support the long term growth opportunities that are available to Domain."

In the company's Annual Report, Pellegrino went on to say that the business' Core Listings, Agent Solutions, Consumer Solutions and Property Data Solutions all performed particularly well.

Chairman Nick Falloon pointed to balanced approach to investments and innovation for the future as a bedrock of Domain's strong year, saying that "ambitions for Domain are high". Falloon stated that revenue growth was "underpinned by the company's marketplace strategy and a continued improvement in the property listings environment."

The company rewarded shareholders with a 6.0 cent dividend per share for the year.