REA Group Ltd Annual Report 2021

Annual Report 2021 | REA Group Ltd OUR PERFORMANCE This section highlights the performance of the Group for the year, including results by operating segment, revenue, expenses, earnings per share, income tax expense, intangibles and the annual impairment assessment. 2. Segment information Accounting policies Operating segments are reported in a manner consistent with internal reporting provided to the chief operating decision maker, being the CEO, who provides the strategic direction and management oversight of the company through the monitoring of results and approval of strategic plans for the business. The Group’s operating segments are determined firstly based on location, and secondly by function, of the Group’s operations. Following the acquisition of Elara Technologies Pte. Ltd. (refer to Note 19), the Group re-assessed its operating segments, and concluded that India represents a standalone region. Comparative information for the year ended 30 June 2020 has been restated for the effects of the change in reporting related to India. The Group has two revenue streams, the first of which is the provision of advertising and other property-related services to the real estate industry. While the Group offers different brands to the market from this stream, it is considered that this offering is a single type of product/service, from which the Property & Online Advertising operating segments in each of Australia, Asia, India and North America derive their revenues. The second revenue stream comes from the Financial Services operating segment in Australia, which derives its revenue through commissions earned from mortgage broking and home financing solutions offered to consumers. Corporate includes the costs of certain head office functions that are not considered appropriate to be allocated to the Group’s operating businesses. Intersegment transactions are reported separately, with intersegment revenue eliminated from total reported revenue of the Group. Year in review Directors’ Report Financial Statements Remuneration Report Sustainability Our Leaders 69