HomeServe Spain

Founded more than 15 years ago, our Spanish business has over 700 employees serving the Spanish nation 24/7, 365 days a year.

 2018 stats

Acquired Reparalia repair network in 2007. Renamed HomeServe Spain in 2017

Income per customer up 11% from 2017 to €47

Evolving our partnerships in both the Membership and Claims businesses

Operational performance

Good revenue growth from the maturing Membership policy book, together with increased efficiency in the repair services (Claims) business delivered increased profitability in Spain.

Total customers rose 1% to 1.3m as the business in Spain continued to add customers through its current affinity partnership with Endesa. After a strong first half, political unrest and legislative change in Catalonia, as well as launch delays in other regions, slowed customer acquisition in the final six months, with a total of 0.4m gross new customers (FY17: 0.5m) added in the year. In Spain the current partnership with Endesa draws to a close in the coming weeks. Discussions continue to define a future relationship, which could be a non-exclusive claims handling and service only arrangement. This would enable HomeServe to enter discussions with other energy companies. The net effect of not marketing with Endesa is expected to have no significant impact on adjusted operating profit in Spain over the next two years.

The retention rate remained stable at 78% and an increasing number of renewers year on year has driven strong progression in income per customer.

The Claims business (“Repair services”) works with a number of Spain’s largest bancassurers managing a large volume of claims across multiple trades and closed 0.8m jobs, in line with the prior year. Jobs continue to be completed by a wide network of over 2,400 subcontractors and 198 franchisees (FY17: 1,972 subcontractors and 197 franchisees).

The Spanish business also intends to pursue a HVAC strategy similar to the approach in the UK and France and is exploring opportunities to enter this space.

Spain performance metrics

FY17 FY18
Affinity partner households (m) 12 12
Customers (m) 2.2 1.3
Income Per Customer () 43 47
Policy Retention Rate 77% 78%
Policies (m) 1.5 1.5

Spain performance metrics

FY17 FY18
Affinity partner households (m) 12 12
Customers (m) 2.2 1.3
Income Per Customer () 43 47
Policy Retention Rate 77% 78%
Policies (m) 1.5 1.5