- Net profit of $26.1 million and underlying revenue of $175.3 million was reported
- Domain announced a fully-franked interim dividend of 2 cents per share
- Domain's 2022 half-year financial results have been released
Domain Group‘s (ASX: DHG) revenue climbed for the first half of the 2022 financial year with the company reporting a 27.9% improvement compared to the first half of the last financial year, according to results announced today.
The company recorded a net profit of $26.1 million and earnings per share (EPS) of 4.46 cents, both having increased 34% on the prior corresponding period.
Domain’s CEO and Managing Director, Jason Pellegrino highlighted that Domain had maintained the pace of its business strategy evolution through the volatile trading environment of the past three years.
“We have responded to the changing environment while continuing to innovate for the future.”
“We have positioned Domain to take full advantage of the rebounding property environment.”
Jason Pellegrino, Domain CEO and Managing Director
“The outcome of our strategic focus, and the increasing value we bring to our customers and consumers, is reflected in the outstanding set of results we are announcing today,” he said.
Domain’s trading results highlights*
| Movement | Percentage | HY22 | HY21 | |
| Revenue | up | 27.9% | $175,300,000.00 | $137,000,000.00 |
| Expenses | up | (36.7%) | ($114,300,000.00) | ($36,700,000.00) |
| Net profit attributable to members of the company | up | 34.2% | $26,100,000.00 | $19,400,000.00 |
| Earnings per share (EPS) ¢ | up | 34.2% | 4.46¢ | 3.32¢ |
| Earnings Before Interest, Taxes, Depreciation, and Amortization
(EBITDA) |
up | 14.2% | $61,000,000.00 | $53,400,000.00 |
Impact of Jopkeeper
The latest trading results are skewed due to the JobKeeper grant and repayment scheme.
“The FY22 H1 trading results on a reported basis are significantly impacted by the timing of the JobKeeper grant and repayment, and the benefits and costs of Zipline, our voluntary employee program undertaken during the early stages of the COVID pandemic,” Mr Pellegrino explains.
In the first half of FY21, Domain benefited from a total of $8.7 million EBITDA contributions from JobKeeper and Zipline.
Without these benefits, the company faced an additional expense of $7.5 million in the first half of FY22.
In their report, Domain calculated the estimated EBITDA excluding this additional JobKeeper and Zipline expense for the half year to December 2021.
Domain’s adjusted trading results highlights**
| Movement | Percentage | HY22 | HY21 | |
| Revenue | up | 27.9% | $175,300,000.00 | $137,000,000.00 |
| Expenses | up | (15.7%) | ($106,700,000.00) | ($92,200,000.00) |
| Earnings Before Interest, Taxes, Depreciation, and Amortization
(EBITDA) |
up | 53.0% | $68,500,000.00
|
$44,800,000.00 |
Domain shareholders can expect a dividend of 2¢ per share (100% franked) to be paid on 15 March 2022 to those registered on 24 February 2022.
~~~
*excluding significant items and disposals
**results exclude Jobkeeper and Zipline expense of $7.5 million in FY22 H1.
