We have three distinct business divisions, which are at different stages of development
HomeServe operates in three business divisions: North America Membership & HVAC; Europe and Asia Membership & HVAC; and Home Experts.
Proven track record in an under-penetrated market; strong near-term growth potential combined with long-term sustainability.
Established cash-generative businesses in UK, France and Spain with scope to diversify and expand; new joint venture with Mitsubishi Corporation in Japan.
Online, on-demand platforms to match consumers with trades with significant medium to long term growth potential - Checkatrade (UK), Habitissimo (Spain) and eLocal (North America).
| North America | UK | France | Spain | Home Experts | New Markets (inc. Japan) | |
Started operations | 2003 | 1993 | 2001 | 2007 | 2019 | 2019 |
| Customers (HY23) | 4.6m | 1.4m | 1.2m | 1.0m | 58k trades | - |
| Policies (HY23) | 8.5m | 3.8m | 2.7m | 1.1m | n/a | - |
Repair network | Employed, | Employed, | Sub-contract | Franchised, | n/a | Sub-contract |
| Employees (FY22) | 2,639 | 2,566 | 936 | 1,958 | 825 | - |
| Revenues (FY22) | £583m | £338m | £153m | £208m | £155m | - |
Adjusted operating profit / (loss) (FY22) | £118m | £73m | £36m | £21m | £4m | (6m) |
Launched in North America in 2003, we operate in the contiguous United States and Canada. HomeServe North America is a market leader.
The Membership market here offers significant scope for growth, with around 151m households. Drivers include signing more affinity partners to reach more households, developing existing customer books, and product innovation – domestic electric vehicle charging, for example.
There are also opportunities to digitise and automate customer service, while retaining high levels of customer satisfaction.
Our policies are sold principally via direct mail through utility partner brands. HomeServe has over 1,000 water and energy utility and municipal partners.
The addition of HVAC installation specialists provides a more comprehensive service to customers and creates another channel for policies. Direct-to-consumer digital marketing is also becoming increasingly important.
UK Membership is the original HomeServe business, founded as a joint venture with South Staffordshire Water in 1993.
Our principal channel is via partnerships with water utilities; direct-to-consumer digital marketing is also becoming increasingly important.
Areas of focus are digitisation and automation (while preserving high levels of customer service) and developing our proposition for challenger energy companies.
Our Membership business in France started as a joint venture with Veolia in 2001. HomeServe acquired the Veolia share of the business in 2011.
HomeServe France is the market leader in water policies. Our major sales channels are our strong partnerships with the three main water utilities: Veolia, Suez and Saur.
These partners initiate policy sales in their call centres; we are also growing new partnerships, for example with online aggregators.
The team in France is developing innovative products like on-demand-to-policy, leading the Group with the implementation of Salesforce, and expanding into Belgium in partnership with Eneco Belgium.
Our business in Spain began in 2007 with the acquisition of the Reparalia repair network, renamed HomeServe Spain in 2017.
The business has three parts: Membership policies; claims handling for a number of Spanish bancassurers; and HVAC.
Since 2018 the business has diversified, with the launch of new Membership partnerships, growth in the claims business, and development of HVAC through our buy-and-build strategy.
We are also expanding into Portugal with the acquisitions of the Mesos and Servitis repair networks.
Our Membership business in Japan was launched as a joint venture with Mitsubishi Corporation in 2019.
We have four utility partnerships – Chugoku Electric, Tohoku Electric Power, Kyushu Electric Power and Shikoku Electric – which together give us access to c.14m households. Early results in the market are very promising.
Our online platform businesses match consumers with tradespeople. These are currently: Checkatrade in the UK, Habitissimo in Spain, and eLocal in the USA.
Checkatrade and Habitissimo have market leadership positions, and eLocal is challenging a larger competitor in the highly under-developed American marketplace.
Our current focus is on growing each business independently, while developing our successful Directory Extra model, initially at Checkatrade.
