Scout24, the leading operator of digital marketplaces specialising in the real estate and automotive sectors in Germany and other selected European countries, has further increased its revenue and profit growth in the first half-year of 2017 and is fully in line with expectations.
According to consolidated financial statements, Group revenues for the half-year 2017 increased by 8.1% to EUR 233.4 million. Group ordinary operating EBITDA improved at a disproportionate rate and was up 12.3% to EUR 122.8 million, yielding a margin of 52.6%. Cash contribution also increased by 13.8% against the comparable period in 2016, further underlining the Company’s ability to generate high cash flows. For the first time after the IPO and one year prior to expectations, in June 2017 a dividend of 0.30 EUR per no-par value share was distributed, allowing shareholders to benefit from this solid performance.
The company's CEO, Greg Ellis, said Scout24's strong half-yearly financial results place the company in a good position for the second half of the year too.
"With the release of our half-year results, we again proved our high profitability and cash-flow generating abilities. The dynamic development at AutoScout24 underlines our progress in achieving our growth potential. We are also very happy with the development at ImmobilienScout24. Core agent numbers remained stable even with the current market trends and the good performance accompanied by the optimisation measures we are implementing bode well for the second half of 2017, which we expect to be stronger than the first one. We believe there are still significant opportunities to tap in both the real estate and automotive value chains, which continue to unterpin our growth story.”
Scout24 reported a successful half-year in 2017 with 8.1% revenue growth and an ordinary operating EBITDA-margin of 52.6%, which is fully in line with the expectations communicated in the Annual Report 2016. The online advertising outlook in Germany and Europe further remains positive, as both consumers and customers become increasingly digital. The Management is confident that this momentum will continue in the second half of 2017, and expects Group revenues to record a high single-digit growth rate for the full year 2017.