• Cash EBTDA of $67.0m, up 117.1% vs 1H24
• TTV of $6.2b, up 23.9% vs 1H24
• Total income of $514.0m, up 19.8% vs 1H24

Zip Co Limited (ASX: ZIP) has announced its half-year results for the six-months ended 31 December 2024 ('1H25'). The company delivered record cash earnings of $67.0m, an increase of 117.1% with cash net transaction margin expanding to 3.8%. The strong financial outcomes were driven by outstanding US growth and disciplined execution of the company's strategy, with a focus on delivering enhanced customer experiences. Zip's US business continued to grow above market with TTV up 40.3% year on year, driven by an exceptional holiday trading period and deeper customer engagement. The ANZ business returned to growth in the second quarter, following an 18-month period focused on margin improvement. Zip repaid all corporate debt and raised additional equity to strengthen its balance sheet and support future growth. The company continued to deliver operating leverage, with total operating costs representing 2.7% of total TTV, down from 3.0% in the prior corresponding period. Zip remains committed to its two-year targets and expects to deliver cash EBTDA of at least $147 million for FY25.

Following a strong start to the year, Zip expects to deliver cash EBTDA of at least $147 million for FY25.

Zip is well placed to deliver continued growth and operating leverage, and is on track for its FY25 results to be within its two-year target ranges as previously announced.