Scout24 releases key financial results

Munich, 23 September 2014 – Scout24 Group, one of Europe's leading groups of companies for online market places, continues its track record of profitable growth. This is reflected by the company’s recent performance as well as its historical financial results.

Scout24 Group[1]

On a Group level, the financial performance reflects the positive development of Scout24 Group's two main digital classifieds platforms, ImmobilienScout24 and AutoScout24.

Results for FY 2011-13

 

EUR m

2011[2]

2012[2]

2013[2]

 

Revenues

280.6

313.5

340.3

 

EBITDA[3]

73.4

65.7

91.6

 

Capex

17.3

22.7

17.0

 

 

 

 

 

Results for H1 2013, Q1 and Q2 2014

 

 

EUR m

6m Jun
2013[4]

3m Mar
2014[5]

3m Jun
2014[6]

 

Revenues

163.2

82.5

84.7

 

EBITDA[3]

43.8

28.8

31.8

 

Ordinary operating EBITDA[7]

n/a

33.3

39.6

 

Capex

n/a

2.4

1.7

Core Operations

Scout24 Group has undertaken a significant strategic realignment since early 2014 and we now disclose our financials for the Core Operations and Non-Core Operations individually.

Our Core Operations includes the segments ImmobilienScout24 and AutoScout24 which are our main verticals, as well as the segment Corporate, which mainly provides shared services for the Group companies. Corporate external revenues were EUR 4.4m in 2013 (EBITDA EUR -9.5m).

 

Results for FY 2011-13

 

EUR m

2011[8]

2012[8]

2013[8]

 

Revenues (external)

242.0

273.3

306.9

 

EBITDA

75.2

73.8

99.8

 

Capex

14.2

18.6

14.1

 

 

 

 

 

Results for H1 2013, Q1 and Q2 2014

 

 

EUR m

6m Jun
 2013[9]

3m Mar
 2014[10]

3m Jun
 2014[11]

 

Revenues (external)

146.6

81.7

83.9

 

EBITDA

50.0

30.8

32.0

 

Ordinary operating EBITDA

n/a

34.0

40.6

 

Capex

n/a

2.0

1.4

Our Non-Core Operations includes operations which either have been divested (e.g. FriendScout24 in August 2014) or which will be retained and reorganised (e.g. FinanceScout24 in the segment Other). FriendScout24 external revenues were EUR 30.1m in 2013 (EBITDA EUR -4.7m); Other external revenues were EUR 3.2m in 2013 (EBITDA EUR -3.3m).
 

Additional financial information

ImmobilienScout24

Results for FY 2011-13

 

EUR m

2011[12]

2012[12]

2013[12]

 

Revenues (external)

155.5

176.6

204.9

 

EBITDA

67.6

76.5

94.9

Results for H1 2013, Q1 and Q2 2014

 

EUR m

6m Jun
 2013[13]

3m Mar
2014[14]

3m Jun
 2014[15]

Revenues (external)

97.3

55.7

56.3

EBITDA

48.4

29.9

32.8

Ordinary operating EBITDA

n/a

30.3

33.5


AutoScout24

AutoScout24 has discontinued investments in its Garage Portal (GP) business and is in the process of spinning it out to external investors or, alternativley, winding it down. Therefore, the Company also shows financials excluding Garage Portal in the tables below.

Results for FY 2011-13

EUR m

2011[12]

2012[12]

2013[12]

Revenues (external)

80.9

90.5

97.5

Revenues (external) (ex-GP)[16]

80.9

89.8

95.6

EBITDA

15.9

9.6

14.4

EBITDA (ex-GP)[16]

18.7

19.0

21.0

Results for H1 2013, Q1 and Q2 2014

 

EUR m

6m Jun
 2013[17]

3m Mar
 2014[18]

3m Jun
 2014[19]

Revenues (external) (ex-GP)[20]

46.2

24.0

26.0

EBITDA (ex-GP)[20]

9.3

5.9

6.6

Ordinary operating EBITDA (ex-GP)[20]

n/a

6.0

9.4

Financial debt

 

EUR m

As of 30 June 2014

 

Cash & cash equivalents

14.2

 

Term loan (face value)

645.0

 

Net debt

630.8

 

About Scout24

Scout24 operates leading digital marketplaces dedicated to the real estate and automotive sectors in Germany and other selected European countries. The digital classifieds platforms of Scout24 Group are united under a common umbrella brand and include ImmobilienScout24 and AutoScout24. Further information is available under http://www.scout24.com.

Press contact

Alexa-Elisabeth Tietze
Head of Corporate Communications & PR
Dingolfinger Str. 1-15
81673 Munich
phone: +49 89 44456 3131
e-mail: presse@scout24.com

Hendrik Bender
Hering Schuppener Consulting Strategieberatung für Kommunikation

phone: +49 69 921874 12
e-mail: hbender@heringschuppener.com

 

[1] Historical financial information based on financial statements of Scout24 Holding GmbH ("Scout24 Holding") and ASA NewCo GmbH ("ASA NewCo"). As part of the acquisition of a 70 percent stake in Scout24 Group by Hellman & Friedman and Blackstone from Deutsche Telekom AG, a new holding company, ASA NewCo, was established as a 100 percent owner of Scout24 Holding. This reorganisation affects the comparability of the historical financial performance.

[2] Fiscal year from 1 January to 31 December (Scout24 Holding).

[3] EBITDA is defined as profit before interest, income taxes, depreciation, amortization, impairment and the results from the disposal of subsidiaries.

[4] Six-month period ended 30 June 2013 (Scout24 Holding).

[5] Short financial year from 1 January 2014 to 31 March 2014 (Scout24 Holding).

[6] Three-month period ended 30 June 2014 (ASA NewCo).

[7] Ordinary operating EBITDA is defined as EBITDA adjusted for non-operating and non-recurring effects.

[8] Fiscal year from 1 January to 31 December (Scout24 Holding).

[9] Six-month period ended 30 June 2013 (Scout24 Holding).

[10] Short financial year from 1 January 2014 to 31 March 2014 (Scout24 Holding).

[11] Three-month period ended 30 June 2014 (ASA NewCo).

[12] Fiscal year from 1 January to 31 December (Scout24 Holding).

[13] Six-month period ended 30 June 2013 (Scout24 Holding).

[14] Short financial year from 1 January 2014 to 31 March 2014 (Scout24 Holding).

[15] Three-month period ended 30 June 2014 (ASA NewCo).

[16] GP denotes our Garage Portal business.

[17] Six-month period ended 30 June 2013 (Scout24 Holding).

[18] Short financial year from 1 January 2014 to 31 March 2014 (Scout24 Holding).

[19] Three-month period ended 30 June 2014 (ASA NewCo).

[20] GP denotes our Garage Portal business which will be discontinued.