13.02.2017
Scout24 AG DE000A12DM80
DGAP-News: Scout24 AG: Scout24 preliminary results 2016: Continued revenue and profit growth
DGAP-News: Scout24 AG / Key word(s): Preliminary Results
Scout24 AG: Scout24 preliminary results 2016: Continued revenue and profit
growth
13.02.2017 / 07:30
The issuer is solely responsible for the content of this announcement.
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Scout24 preliminary results 2016: Continued revenue and profit growth
- Strong operating performance in line with expectations
- Robust topline growth with revenues up 12.3% to EUR 442.1 million
- Surge in profitability with ordinary operating EBITDA up to EUR 224.5
million yielding a margin of 50.8%
Berlin / Munich, 13 February 2017 - Scout24 AG ("Scout24" or "the Group"),
the leading operator of digital marketplaces specialising in the real
estate and automotive sectors in Germany and other selected European
countries, continues on its growth path based on preliminary results for
the full year 2016.
Preliminary Group revenues of EUR 442.1 million (2015: EUR 393.6 million)
for the full year 2016 are up 12.3 % year-over-year, mainly driven by the
strong performance of AutoScout24 (AS24) and consumer monetization
initiatives under the umbrella of Scout24 Media.
"In September 2015, we introduced Scout24 Media as a Group-wide function
pooling our display advertising activities as well as the activities in the
field of consumer services. Looking at the 2016 financials, we can already
see an increasing impact through product innovation driven by Scout24
Media" said Greg Ellis, CEO of Scout24 AG.
Scout24 expects to achieve an ordinary operating EBITDA of EUR 224.5
million for the full year 2016 (2015: EUR 189.6 million), a 2.6 percentage
points improvement in ordinary operating EBITDA margin to 50.8% and thus
slightly above guidance given in August 2016. Furthermore, cash
contribution (ordinary operating EBITDA reduced by investments) increased
strongly by 20.4%, underpinning the Group's ability to swiftly delever its
balance sheet. The leverage ratio of net debt to ordinary operating EBITDA
is expected to come in at 2.84x and therefore well underway to reach the
target level of 2.50x ahead of time.
"2016 has been another record breaking year following our IPO in 2015. Our
growth was further fuelled by the acquisition of the Dutch company European
Autotrader B.V. which has already been successfully integrated into our
AS24 business", said Christian Gisy, CFO of Scout24 AG and added: "Besides
the high top and bottom-line growth, I am especially pleased with our
strong cash generation which helps us to reduce debt more quickly."
Preliminary Group EBITDA is expected to come in at EUR 206.8 million (2015:
EUR 166.9 million), affected by non-operating items of EUR 17.8 million,
slightly higher than expected, relating mainly to the reorganisation of the
sales force and IT teams. Capital expenditures were EUR 19.5 million.
Net profit is expected at EUR 66.9 million (2015: EUR 56.9 million) being
affected by a one-time effect of EUR 14.4 million for the amortisation of
debt issuance cost caused by the refinancing and prepayments of the
previous syndicated loan. Preliminary earnings per share amount to EUR 0.62
(2015: 0.56 EUR).
Fourth quarter
For the fourth quarter 2016, Scout24 achieved preliminary Group revenues of
EUR 115.8 million, an increase of 10.1% compared to the same period last
year (EUR 105.2 million) and preliminary ordinary operating EBITDA of EUR
57.0 million, up 26.7% compared to EUR 45.0 million achieved in the fourth
quarter 2015. Ordinary operating EBITDA margin came in at 49.2% compared to
42.7% in the fourth quarter 2015. Though being down year-over year driven
by churn and shifts to the professional pay-per-ad model in the first six
months of the year, as well as some agents leaving the market due to the
introduction of the 'Bestellerprinzip' regulation in June 2015 and market
conditions in Germany, the number of core agents at IS24 stabilized in the
fourth quarter and was up sequentially from the previous quarter to 17,411
core customers (Q3/2016: 17,369; Q4/2015: 19,355).
All figures reported herein are preliminary and unaudited. Full financial
disclosure for financial year 2016, together with management guidance for
the financial year 2017, will be published on 29 March 2017.
Next events and reportings
The Annual Report for the full financial year 2016 will be published on
Wednesday, 29 March 2017 together with a conference call and webcast for
financial analysts and investors.
About Scout24
Scout24 operates leading digital marketplaces in Germany and other selected
European countries. ImmobilienScout24 and AutoScout24 are the main
operations under the Scout24 brand. ImmobilienScout24 is the leading
digital real estate classifieds platform in Germany, based on consumer
traffic and time spent as well as customer numbers and listings.
AutoScout24 is a leading automotive digital classifieds platform in Europe,
in terms of unique monthly visitors and listings. With our digital
marketplaces we are inspiring people's best decisions. Our purpose is to
connect people with cars and homes.
More than 1,000 employees in Germany and across Europe work on offering
value to our consumers and customers. Scout24 AG is a listed company
included in the SDAX Index of the Frankfurt Stock Exchange (ISIN:
DE000A12DM80, Ticker: G24). For more information please visit
www.scout24.com.
Investor Relations
Britta Schmidt
Vice President Investor Relations & Treasury
Fon: +49 89 44456 3278
Email: [email protected]
Media Relations
Marie Fabiunke
Head of Corporate Communications & PR
Fon: +49 30 24301 1427
Email: [email protected]
Disclaimer:
All information contained in this document has been carefully prepared.
However, no reliance may be placed for any purposes whatsoever on the
information contained in this document or on its completeness. No
representation or warranty, express or implied, is given by or on behalf of
the Company or any of its directors, officers or employees or any other
person as to the accuracy or completeness of the information or opinions
contained in this document and no liability whatsoever is accepted by the
Company or any of its directors, officers or employees nor any other person
for any loss howsoever arising, directly or indirectly, from any use of
such information or opinions or otherwise arising in connection therewith.
The information contained in this release is subject to amendment, revision
and updating. Certain statements, beliefs and opinions in this document are
forward-looking, which reflect the Company's or, as appropriate, senior
management's current expectations and projections about future events. By
their nature, forward-looking statements involve a number of risks,
uncertainties and assumptions that could cause actual results or events to
differ materially from those expressed or implied by the forward-looking
statements. These risks, uncertainties and assumptions could adversely
affect the outcome and financial effects of the plans and events described
herein. Statements contained in this document regarding past trends or
activities should not be taken as a representation that such trends or
activities will continue in the future. The Company does not undertake any
obligation to update or revise any information contained in this press
release (including forward-looking statements), whether as a result of new
information, future events or otherwise. You should not place undue
reliance on forward-looking statements, which speak only as of the date of
this document.
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13.02.2017 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Financial/Corporate News and Press Releases.
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Language: English
Company: Scout24 AG
Dingolfinger Str. 1 - 15
81673 Munich
Germany
Phone: +49 89 44456 - 0
Fax: +49 89 44456 - 3000
E-mail: [email protected]
Internet: www.scout24.com
ISIN: DE000A12DM80
WKN: A12DM8
Indices: SDAX
Listed: Regulated Market in Berlin, Frankfurt (Prime Standard);
Regulated Unofficial Market in Dusseldorf, Hamburg,
Hanover, Munich, Stuttgart, Tradegate Exchange; London
End of News DGAP News Service
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