REA Group's FY24 financial highlights

REA Group Ltd (ASX: $REA) has reported an outstanding FY24 result, with a 23% increase in revenue to $1,453m, a 27% rise in EBITDA (excluding associates) to $825m, and a 24% surge in net profit to $461m. The company's full year dividend of $1.89 per share fully franked has also seen a substantial 20% increase. These financial figures reflect the company's core operations and demonstrate significant growth compared to the prior corresponding period.

REA Group CEO, Owen Wilson, on FY24 performance

REA Group Chief Executive Officer, Owen Wilson, expressed his satisfaction with the exceptional FY24 result, attributing it to the value delivered at every stage of the property journey. He highlighted the increasing preference for REA's premium products, particularly in strong markets like Melbourne and Sydney. Wilson also emphasized the strong momentum of REA India, with excellent revenue growth and significant app audience expansion, showcasing the benefits of investment in app experience.

Summary of FY24 performance and outlook

REA Group's FY24 performance has been marked by substantial revenue growth, increased EBITDA, and a significant rise in net profit. The company's focus on delivering value at every stage of the property journey has been reflected in its exceptional results. Looking ahead, REA Group aims to continue its growth trajectory by investing in innovation across its products and platforms. The company anticipates positive operating jaws in FY25, with a clear strategy to drive growth and deliver greater value to its customers and consumers. With a healthy balance sheet and a strong position in the market, REA Group is well-positioned to capitalize on the robust Australian residential property market and the momentum in its India operations.