On Tuesday this week the REA Group announced it’s half year results. The headline numbers are very much in line with where we thought they would be:
- Revenue was $134.6m – up 18% on the same period last financial year
- EBITDA was $59.6m – up 24% on the same time last year
- The EBITDA margin was 44%
- An EPS increase of 27% to 31.6c
- An interim dividend of 12.5c
In Australia, where REA Group operates the leading residential and commercial real estate sites, realestate.com.au and realcommercial.com.au, key first-half metrics included:
- realestate.com.au attracted a Unique Audience of 2.4 million in December 2011 (Nielsen), approximately 1.8 times Domain
- REA Media (including developer) revenues grew to $32.7 million in the first half, a 33% increase on the prior corresponding period
- Paying subscribing agents decreased slightly to 9,324 agents (June 2011: 9,536 agents)
- ARPA increased to $1,327 in December 2011, up 10% on the prior corresponding period
- Revenue from premium listing and branding products now represents 48% of residential revenue
In Italy, REA Group’s residential property site, casa.it, delivered strong revenue growth and a positive EBITDA.
- Revenue increased by 44% to $10.5 million from the prior half-year.
- EBITDA increased to positive $0.3 million at 31 December 2011 from a loss of $2.2 million at 31 December 2010.
- Traffic to casa.it increased to 3.5 million Unique Browsers in December 2011 (2.3 million in December 2010), well ahead of the Italian number two ranked competitor.
- ARPA increased to €122 in December 2011, up 49% on the prior corresponding period.