REA Group’s chief executive officer, Owen Wilson, has announced his retirement after over a decade with the company. The announcement coincides with the release of the company’s H1 FY25 results, highlighting significant revenue and profit growth.
On Thursday, Wilson informed the board of his intention to retire from “full-time executive roles” in the second half of 2025. Wilson first joined REA Group as chief financial officer before stepping into the role of CEO, leading the company for the past six years.
Wilson reflected on his tenure: “It has been a privilege to lead REA Group for the past six years, and I am proud of all our team has accomplished.
“The business is in excellent shape as evidenced by the results we have announced today. We have an exciting strategy and a talented and committed team to deliver it. I want to thank them wholeheartedly for all the tremendous support I have received over the years.
“REA’s future is undeniably exciting. I would also like to thank the REA Board, Robert Thomson, and Lachlan Murdoch for entrusting me with such a great company and incredible business.”
Strong H1 FY25 performance
REA Group’s H1 FY25 results, covering the half-year period ending December 31, 2024, underscore the company’s continued growth trajectory. The report revealed:
• A 20% increase in revenue to $873 million.
• A 22% rise in EBITDA excluding associates, reaching $535 million.
• A 26% increase in net profit, totalling $314 million.
• Australian revenue up 19% year-on-year to $809 million, excluding the acquisition of Realtair, which was consolidated from 1 July.
Despite strong financials, REA Group’s operating costs rose 16%, while Australian expenses grew 13% (excluding the Realtair acquisition).
The company’s board has also declared an interim dividend of $1.10 per share, fully franked, marking a 26% year-on-year increase.
REA Group’s flagship property platform, realestate.com.au, further cemented its market leadership in H1 FY25, with 5.1 million more Australians visiting the site every month on average than its closest competitor.