​Scout24 AG: Takeover bid by Hellman & Friedman and Blackstone rejected by majority of shareholders - Scout24 continues growth strategy and confirms forecast for 2019

Scout24 AG: Takeover bid by Hellman & Friedman and Blackstone rejected by majority of shareholders - Scout24 continues growth strategy and confirms forecast for 2019

- Minimum acceptance threshold of 50 percent plus one share not met
- Forward-looking strategy, growth targets, and forecast for 2019 not affected by failed takeover bid

Munich / Berlin, 14 May 2019 - Pulver BidCo GmbH ("BidCo"), a holding company jointly controlled by funds advised by Hellman & Friedman LLC and affiliates of The Blackstone Group L.P., announced today that the voluntary public takeover bid for Scout24 shares issued failed to reach the acceptance threshold of 50 percent plus one share. The takeover bid was therefore not successful.

Tobias Hartmann, CEO of Scout24, says: "Although we had expressed support for the strategic partnership with Hellman & Friedman and Blackstone, we fully respect the decision of our shareholders and consider it a vote of confidence in Scout24's successful future and management. We will further focus on our growth strategy and continue to develop Scout24 as an independent company. In addition to our successful ImmobilienScout24 and AutoScout24 marketplaces, we are further expanding the Scout24 Consumer Services offering by brokering financing, insurance, and other additional services. Our goal, which we share with our business partners, is to map out our real estate and auto transactions as much as possible as a digital experience on our platforms."

The Chairman of the Supervisory Board, Dr. Hans-Holger Albrecht, comments on the outcome of the takeover bid: ""The majority of our shareholders have decided to continue to accompany our company on its growth path and not to accept the takeover offer. We respect this decision and view it as a mandate. Management and employees will now be focused to drive value creation for our shareholders. The Supervisory Board will hereby fully support the Management Board to pursue the defined growth strategy."

The failed takeover bid has no impact on the forecast for 2019. In March, Scout24 presented record figures for the financial year 2018 with consolidated revenue of 531.7 million euros (+12.5% compared to the previous year) and an ordinary operating EBITDA margin of 54.8%. Despite strong investments to spur growth, Scout24 proposed a dividend increase to 0.64 euros per share for 2018. Scout24 forecasts double-digit growth rates for revenue and earnings for the 2019 financial year. Specifically, management expects revenue growth between 15 and 17 percent and an ordinary operating EBITDA margin between 52 and 54 percent.

About Scout24

With our leading digital marketplaces ImmobilienScout24 in Germany and Austria and AutoScout24 across Europe we are creating a connected network for living and mobility. More than 1,500 employees empower our users to find their new home or their new car quickly and easily. Individual additional services, such as the brokerage of relocation services or construction and car financing, by Scout24 Consumer Services support this purpose. Scout24 AG 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
Tel.: +49 89 44456 3278
Email: [email protected]
 

Media relations

Jan Flaskamp
Vice President Communications & Marketing
Tel.: +49 30 24301 0721
Email: [email protected]
 

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