Revenue*

£175.3m
2014
£215.3m
2015
£288.5m
2016

*Figures are on a reported basis and include the figures for posterXXL from 31 July 2015 to 30 April 2016 and Hofmann from 1 December 2014

Underlying EBITDA**

£19.8m
2014
£28.6m
2015
£45.9m
2016

**Underlying EBITDA: Earnings before net finance costs, taxation, depreciation and amortisation and additionally excludes exceptional items, non-recurring items, share option expense and foreign exchange gains/(losses).

2016 – through the eyes of our new CEO

With 34% year on year growth, this has been a stellar year for Photobox Group and I couldn’t be more excited to have come on board. We are the clear European leader in this market and intend to invest heavily in the next few years to make the experience even easier for our customers, continuously working on being more mobile, more relevant and more imaginative in the products we offer.

Jody Ford
President & Group CEO

Highlights

  • Excellent financial progress with 34% year on year Group revenue growth, on a reported basis, up from 23% in FY14/15. This performance was supported by strong profit growth with underlying EBITDA up 60% over the same period.
  • Moonpig reached a landmark 5 million active customers this year, with over 50% of sales taking place on mobile. The brand sent over 12 million cards and sold 1 million rose stems at Valentine’s Day and last month the brand launched their first ever jewellery range! This helped to grow revenues by 17% year on year.
  • The Group’s photo businesses (Photobox, Hofmann, posterXXL & Sticky9) performed better than ever, with photobooks flying off the shelves, reaching well over 4 million sold for the year.
  • Customer loyalty is strong with 72% of sales from repeat customers as Group shifts from “big day” to “everyday” gifting.
  • The Group consolidated its position as the leader in the European personalisation market and international sales (outside UK) accounted for more than 50% of Group revenue, supported by the recent acquisition of posterXXL.

Board of Directors

Douglas McCallum – Non-Executive Chairman

Douglas joined us as Chairman in early 2015 bringing with him more than 20 years of experience as an executive, investor and leader in global digital business. With a vast knowledge of eCommerce throughout the EU and an international vision for business strategy, Douglas is helping us to drive towards pioneering even more innovative products and services.

Douglas is also currently a Non-Executive Director of Ocado plc, Chairman of Trainline.com, a member of the Cabinet Office’s Digital Advisory Board and President and founder of eBay for Charity.

A true digital native

With an internet career spanning more than two decades, Douglas has a rare and broad expertise in the Digital space.

Douglas spent 12 years in various roles at eBay. As Managing Director of eBay UK, he built Britain’s then biggest internet company, taking eBay UK from 350 thousand to 15 million customers. On the back of this impressive performance, he was tasked with reviving eBay’s then market share-losing continental European businesses as General Manager of eBay Europe.

Deploying a radical turnaround strategy, Douglas was able to reaccelerate the business and grew it to $16bn. The strategy was then rolled out in eBay’s US and Asian operations with equally impressive results.

Douglas has a personal passion for the people of business. He leads with a focus on strategy and people, proudly leading eBay UK to become one of Britain’s “Top 10 Great Places to Work.”

Commenting on the position, Douglas says,

I am excited by the potential of the Group and its ambition to bring personalisation to more people and communities around the world. This is a key moment for the Group as we expand our portfolio of brands internationally and reach for ever more inspiring services and products.

Jody Ford, CEO

Jody joined Photobox as CEO in July 2016, bringing with him a passion for delivering outstanding consumer experiences across digital and online retail.

Completing his MBA at Insead in 2004, Jody quickly gained exposure to the emerging online space and a broad range of consumer brands at PricewaterhouseCoopers, before becoming part of the Orange team that delivered the largest ever corporate European IPO.

A career adventure in Sydney gave Jody his first taste of eBay and after returning to London for a spell at McKinsey & Company, Jody joined eBay UK, leading the UK Marketplaces team through a successful UK turnaround, launching the Fashion Outlet and overseeing the acquisition of Brands4Friends in Germany.

Most recently Jody spent five years with eBay in California, super-charging global marketing through the latest digital marketing strategies, analytics & tools and managing global relationships with Google, Facebook and Snapchat.

Jody lives in London with his wife and three kids.

Alan Burns – Group Chief Financial Officer

Alan is our financial powerhouse while still managing to be approachable and inspiring leader.

Having spent most of his career in London, he has worked for some very exciting e-commerce businesses including Expedia.com, Autoquake.com, Hotels.com and Voyages-sncf.com. Upon joining PhotoBox Group as CFO in 2011, Alan played a pivotal role in the acquisition of Moonpig.

Alan holds a BA (hons) in Geography from the University of Sheffield, and is a Fellow of the Institute of Chartered Accountants in England and Wales. He loves cycling and when he has the time, even rides a bike!

When he’s not working, Alan can be found obsessing about his favourite band (Suede), training for his next running event and spending time with his wife and three kids.

Simon Davidson – Non-Executive Director

Simon joined Exponent in January 2008. Since then, he has been involved in the Ambassador Theatre Group, Quorn Foods, Wowcher and Photobox Group transactions.

Simon sits on the board of Wowcher and Photobox Group and was previously on the boards of the Ambassador Theatre Group and Quorn Foods. He previously worked for Apax and OC&C. He has an MA in Politics, Philosophy and Economics from Oxford University and an MBA from The Wharton School.

Tom Sweet-Escott – Non-Executive Director

Tom was one of the founding partners of Exponent in 2004. Since then, he has been involved in the Trainline, V.Group, Lowell Group, HSS Hire and Photobox Group transactions.

Tom sits on the boards of Pattonair, HSS Hire and Photobox Group and previously sat on the boards of V.Group, Lowell Group and Trainline. He previously worked for 3i, Arab Banking Corporation and Orion Bank. Tom has an MA in Natural Sciences from Cambridge University.

Investors

Exponent Private Equity

Exponent is a Private Equity firm investing in UK headquartered businesses. Exponent works with companies across a broad range of sectors unlocking value and driving growth. The firm has secured commitments totalling over £2.2 billion since inception and is currently investing from its third fund of £1 billion which was raised in 2015.

www.exponentpe.com

Electra Partners

Electra Partners are an independent private equity fund manager with more than 25 years’ experience in the mid-market. They have invested in excess of £4.5 billion in over 200 deals. As at 30 September 2015 Electra Partners had funds under management of £1.8 billion including capital available for new investment of nearly £350 million. The firm’s major client is Electra Private Equity PLC, an LSE-listed private equity investment trust.

www.electrapartners.com