17.07.2018
Scout24 AG DE000A12DM80
DGAP-Adhoc: Scout24 AG acquires FINANZCHECK.de, one of the leading consumer finance platforms in Germany
DGAP-Ad-hoc: Scout24 AG / Key word(s): Takeover
Scout24 AG acquires FINANZCHECK.de, one of the leading consumer finance
platforms in Germany
17-Jul-2018 / 19:11 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Scout24 AG acquires FINANZCHECK.de, one of the leading consumer finance
platforms in Germany
* Great fit with Scout24's Consumer Services vertical and highly
complementary to Scout24's market network strategy
* Enabling Scout24 and FINANZCHECK.de to jointly connect the dots along
the car and home buyer consumer journey
* FINANZCHECK.de with high growth profile in a healthy > EUR 80 billion
German consumer loan market
Berlin / Munich, 17 July 2018 - Scout24 AG ("Scout24" or "the Group"), the
leading operator of digital marketplaces specializing in the real estate and
automotive sectors in Germany and other selected European countries signed
an agreement this evening to acquire all shares of FFG FINANZCHECK
Finanzportale GmbH ("FINANZCHECK.de"), a German online comparison portal for
consumer loans. Closing is subject to anti-trust approval and is expected
within four to six weeks. The transaction is based on a consideration of EUR
285 million, on a cash-free and debt-free basis. The purchase price is paid
fully in cash.
FINANZCHECK.de operates an online consumer finance platform, providing
consumers with real-time and efficient comparison of consumer loans - in
addition, the company cooperates with affiliate websites, point-of-sale
finance and partner networks in Germany through its proprietary consumer
financing technology platform. In terms of market share and market
positioning for online comparison of consumer loans, FINANZCHECK.de is a top
3 portal in Germany.
The Scout24 Management sees significant opportunities to enhance the growth
of the Consumer Services vertical through the addition of FINANZCHECK.de.
This will mainly be driven by providing a more integrated service on the
Scout24 platforms, thereby prolonging and enhancing Scout24's role in the
consumer journey. Scout24 Management expects to realize synergies on both
the automotive and the real estate side. Initial focus will be on expanding
FINANZCHECK.de's presence on the AutoScout24 platform and meeting more
users' needs in the car buying process. Car loans are an essential part of
the car buying process, with around 40% of second hand cars being partly or
fully financed. In the future, Scout24 Management plans to roll-out the
integration also to the AutoScout24 platforms in the core European
countries.
Through this highly strategic acquisition, Scout24 teams up with a leading
player in delivering great user experience and helping users to save time
and money in finding the right consumer loan for them. It furthers provides
banks and finance institutions with a cost efficient and scalable way to
offer their services to loan seekers. FINANZCHECK.de has built its
successful business on a proprietary technology platform with machine
learning capabilities and API-connections ("application programming
interface") to the most relevant finance providers in Germany.
The online market for consumer loans is a strongly growing market, that
benefits both from a healthy underlying development of the >EUR 80 billion
newly issued consumer loans in Germany, as well as from an ongoing shift of
consumer loan purchasing from offline channels to online. Between 2015 and
2022, the market share of consumer loans generated through online comparison
platforms is expected to double.
FINANZCHECK.de has a proven track record of strong growth with a compounded
annual growth rate of around 35% over the past three years, resulting in
more than EUR 35 million in revenues in financial year ending December 2017.
From Q1 2015 to Q1 2018, the company more than tripled the quarterly number
of newly registered customers going through the loan application process,
and more than doubled the number of loan transactions, making up for a
brokered volume of more than EUR 3.5 billion since the company's inception
in 2012. In addition, FINANZCHECK.de has a comprehensive market coverage in
terms of relevant consumer finance providers, with more than 20 financial
institutions connected via API to its technology platform.
The Scout24 Group is financing the acquisition through a credit facility.
Notifying Person and Investor Relations
Britta Schmidt
Vice President Investor Relations & Controlling
Fon: +49 89 44456 3278
Email: [email protected]
Media Relations
Jan Flaskamp
Vice President Communications & Marketing
Fon: +49 30 24301 0721
Email: [email protected]
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Information and Explanation of the Issuer to this News:
Conference Call
On Wednesday, 18 July 2018, at 10 am CEST, Scout24 will host a conference
call and webcast for financial analysts and investors. You may dial in using
the following numbers:
DE: +4969222229043
UK: +442030092452
USA: +18554027766
Participant PIN code: 82438614#
The webcast, as well as a replay, will be made available at:
https://webcasts.eqs.com/scout2420180718
About Scout24
With our leading digital marketplaces ImmobilienScout24 in Germany and
AutoScout24 across Europe we are inspiring people to make their best
decisions on finding a home and a car. Additional services, such as credit
information, the brokerage of relocation services or construction and car
financing, are bundled in the Scout24 Consumer Services business division.
More than 1,200 employees are working on the success of our products and
services, putting the consumers' needs first in order to create a connected
network for living and mobility. Scout24 is listed on the Frankfurt Stock
Exchange (ISIN: DE000A12DM80, G24). For further information, please visit
www.scout24.com, our Corporate Blog and Tech Blog, or follow us on Twitter
and LinkedIn.
Investor Relations
Britta Schmidt
Vice President Investor Relations & Controlling
Fon: +49 89 44456 3278
Email: [email protected]
Media Relations
Jan Flaskamp
Vice President Communications & Marketing
Fon: +49 30 24301 0721
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.
Scout24 also uses alternative performance measures, not defined by IFRS, to
describe the Scout24 Group's results of operations. These should not be
viewed in isolation but treated as supplementary information. The special
items used to calculate some alternative performance measures arise from the
integration of acquired businesses, restructuring measures, impairments,
gains or losses resulting from divestitures and sales of shareholdings, and
other material expenses and income that generally do not arise in
conjunction with Scout24's ordinary business activities. Alternative
performance measures used by Scout24 are defined in the 'Glossary' section
of Scout24's Annual Report 2017 which is available at
www.scout24.com/financial-reports.
Due to rounding, numbers presented throughout this statement may not add up
precisely to the totals indicated, and percentages may not precisely reflect
the absolute figures for the same reason.
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17-Jul-2018 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Scout24 AG
Bothestr. 11-15
81675 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: MDAX
Listed: Regulated Market in Berlin, Frankfurt (Prime Standard);
Regulated Unofficial Market in Dusseldorf, Hamburg,
Hanover, Munich, Stuttgart, Tradegate Exchange; London
End of Announcement DGAP News Service
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705509 17-Jul-2018 CET/CEST
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