DGAP-News: Scout24 AG / Key word(s): Joint Venture
Combination of AutoScout24 in Spain and Autocasión
- Creates a strong player in the Spanish online car sales market
- Agreement enables company to take a leading market position
- Cooperation helps significantly increase user and listing numbers
Munich / Madrid, 21 December 2018 - Leading Spanish media group Vocento's automotive portal Autocasión is joining forces with the Spanish affiliate of AutoScout24. The combined business will become a strong player in the Spanish online car market.
With more than 110.000 vehicles on offer and more than 2,800 affiliated dealers, AutoScout24 is currently number 3 in the Spanish market. In total, AutoScout24 is the largest pan-European online car market with more than 2 million vehicles on offer and more than 50,000 affiliated dealers. The marketplace consists of used and new cars as well as motorbikes, providing dealers and other players in the automotive sector, including financial service providers, with a complete platform for online car sales. In 2018, Autscout24 Spain will make a contribution to the Scout24 Group's revenues of roughly EUR 7 million and a contribution to its ordinary operating EBTIDA of about EUR 3 million. In the future, Vocento will consolidate the results of the joint venture.
Vocento is a leading Spanish media group. Autocasión, Vocento's automotive portal provides a wide variety of classified advertisements for used cars as well as services for car buyers. With more than 2,500 professional clients and over 150,000 offers, it is the number 2 player in the Spanish market with more than 2 million unique monthly users.
For both companies, the agreement fulfils the strategic objective of joining forces in the highly competitive Spanish market in order to take a leading market position.
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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