Scout24 AG reports a successful first quarter 2016

  • 12.9% increase in Group revenues to EUR 104.7 million
  • Ordinary operating EBITDA margin of 49.3%
  • 11.8% increase in cash contribution supports robust deleveraging profile
  • Fully on track to achieve full year 2016 targets

Berlin / Munich, 11 May 2016 – 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, announces its results for the first quarter of the financial year 2016.

According to the unaudited consolidated financial statements, Group revenues (excluding revenues from the latest acquisition European AutoTrader B.V.) for the first three months ended March 31, 2016 increased by 12.9% to EUR 104.7 million (Q1 2015: EUR 92.7 million). Group ordinary operating EBITDA (excluding the contribution from European AutoTrader B.V.) was up 12.8% to EUR 51.6 million, representing a margin of 49.3%. Furthermore, cash contribution  increased by a solid 11.8%, supporting Group deleveraging.

"Scout24 recorded strong first quarter 2016 results with all major performance indicators in line with Management Board’s expectations. We are therefore very confident to meet our full year targets", said Christian Gisy, Chief Financial Officer of Scout24 AG.

Overview of Financial Results

The table below provides a summary overview of the Group’s performance for the first quarter ended March 31, 2016.

(in EUR million)

Q1 2016

Q1 2015



External Revenues
























Ordinary operating EBITDA2












Ordinary operating EBITDA margin












Capital expenditure




Cash contribution3




All figures in the table above do not include results of European AutoTrader B.V.

The quarterly statement including financial statements and additional details on segment level is available at

Business Development

Scout24 continues on its growth path driven by its core businesses, ImmobilienScout24 ("IS24") and AutoScout24 ("AS24"), the ongoing roll-out of the product models "VIA" in IS24 and "MIA" in AS24 and strong focus on executing on its sales strategy.

Reported Group EBITDA for the first quarter 2016 was up EUR 6.9 million compared to the first quarter 2015, reaching EUR 48.0 million. It included non-operating costs of EUR 3.6 million mainly due to the Management Equity programme, obligations from a purchase price agreement, costs related to the acquisition of European AutoTrader B.V. as well as restructuring costs of EUR 1.0 million. The Group's ordinary operating EBITDA improved by 12.8% to EUR 51.6 million. Consolidated reported net profit for the period was EUR 12.6 million (Q1/2015: EUR 11.3 million), resulting in earnings per share of EUR 0.12 (Q1/2015: EUR 0.11).

Cash contribution increased by 11.8% to EUR 46.7 million, supporting Group deleveraging. Cash and cash equivalents amounted to EUR 67.8 million as of March 31, 2016 including the cash outflow for the purchase price of European AutoTrader B.V. in an amount of EUR 27.7 million in Q1 2016 (December 31, 2015: EUR 70.6 million), highlighting the strong free cash flow generation. Total net financial debt  therefore amounted to EUR 714.1 million, leading to a leverage (ratio of ordinary operating EBITDA of the last twelve months to net debt) of 3.65:1 (December 31, 2015: 3.74:1).

Based on this positive financial position Scout24 has made a voluntary repayment towards its bank loan of EUR 40 million on April 5, 2016. This reduced the total debt of EUR 782 million as of March 31, 2016 further to EUR 742 million and will reduce annualized interest expense by approximately EUR 1.5 million.


The business development of Scout24 Group in the first quarter 2016 was in line with the Management Board's expectations and Scout24 is therefore very confident to reach the targets for the financial year 2016 communicated on March 30, 2016. For details, please refer to our Annual Report 2015, which is available at

Next events and reportings

On June 23, 2016, the Annual General Meeting of Scout24 AG will take place in Belin.

Scout24 expects to report results for the first half of the 2016 financial year on Thursday, August 11, 2016.

About Scout24

Scout24 operates leading digital classifieds platforms in Germany and other selected European countries. The main operations under the umbrella brand Scout24 are the digital marketplaces ImmobilienScout24 and AutoScout24. 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. Scout24’s digital marketplaces are empowering people to realise their property and car-owning dreams simply, efficiently and stress-free. Further information is available at

Investor Relations contact

Britta Schmidt
Vice President Investor Relations & Treasury
Tel.: +49 89 44456 3278

Press contact

Svenja Lahrmann
Instinctif Partners
Tel.: +49 221 42075 23


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.

1 EBITDA is defined as profit before financial results, income taxes, depreciation and amortization, impairment write-downs and the result of sales of subsidiaries.

2 Ordinary operating EBITDA represents EBITDA adjusted for non-operating and special effects, ordinary operating EBITDA margin of a segment is defined as ordinary operating EBITDA as a percentage of external  segment revenues.

3 Cash contribution is defined as ordinary operating EBITDA less Capital Expenditure.