Scout24 Se · XETR:G24
Scout24 — Q1 2023 Earnings Presentation
14 slides from Scout24's earnings presentation, May 4, 2023
Slide 1: Analyst Call – Results for Q1 2023
Making a difference Analyst Call – Results for Q1 2023 4 May 2023 © Scout24 Investor Relations
Slide 2: Disclaimer
Disclaimer This document has been issued by Scout24 SE (the beliefs and opinions in this document are forward-looking, directly or indirectly, in the United States of America, its “Company” and, together with its direct and indirect which reflect the Company’s or, as appropriate, senior territories
Slide 3: Off to a good start into 2023
Good start into the year with 13% revenue and 16% ooEBITDA y-o-y growth respectively Agent membership business continues growth momentum – 16.5% membership revenue growth reflecting strong demand for IS24 core products and new customer wins Off to a good Innovation: integrating professional valuatio
Slide 4: Q1 2023 reflects strong momentum in our core business and continued customer growth
Q1 2023 reflects strong momentum in our core business and continued customer growth Group €121.9m €68.2m +13.0% +16.3% Group ordinary operating EBITDA Group revenue (56.0% margin) Professional €70.8m 21,703 €1,088 +10.7% +4.1% +6.3% Subscription revenue Professional customers ARPU with professional
Slide 5: Strong growth in memberships and Private subscriptions; Seller and Mortgage Leads facing muted demand
Strong growth in memberships and Private subscriptions; Seller and Mortgage Leads facing muted demand Q1 2023 performance Q1 2023 share of 2026 targets Five value drivers (vs Q1 2022) group revenue (CAGR) 1 Membership revenue +4-6% +16.5% 50% Professional 2 Seller leads revenue -16.7% 8% +30-40% 3 M
Slide 6: Strong growth in all three segments contributed to 13% group revenue growth
Strong growth in all three segments contributed to 13% group revenue growth 56.0% Revenue (€ million) +13.0% 54.4% 121.9 62.0% 107.9 +9.3% 60.0% 78.0 71.4 46.8% +23.7% 47.4% 34.9 39.4% 28.2 29.5% +7.9% 8.3 9.0 Professional Private Media & Other Group Q1 2022 Q1 2023 % Increase vs Q1 2022 % ooEBITDA
Slide 7: Professional segment performance is driven by accelerating growth in subscriptions
Professional segment performance is driven by accelerating growth in subscriptions Growth driven by a combination of Q1 Q1 customer growth, rate card and (€m) +/- product upgrades 2023 2022 Professional revenue 78.0 71.4 +9.3% of which subscriptions 70.8 64.0 +10.7% Seller leads & Mortgage impacted
Slide 8: Private segment growth is fuelled by continued strong subscriber growth and PPA growth
Private segment growth is fuelled by continued strong subscriber growth and PPA growth Further strong customer wins Q1 Q1 (€m) 2023 2022 +/- due to great demand in the rent market Private revenue 34.9 28.2 +23.7% of which subscriptions 17.0 13.8 +23.6% Subscriptions growth continues to # Customers (
Slide 9: ooEBITDA grew strongly by 16% fueled by favorable product mix and operating efficiency
ooEBITDA grew strongly by 16% fueled by favorable product mix and operating efficiency Q1 Q1 (€m) +/- Own work capitalized decreased 2023 2022 due to reduced level of investments Revenues 121.9 107.9 +13.0% Own work capitalized 6.2 7.3 -14.2% Focus on efficiency – operating Personnel costs -24.4 -22
Slide 10: Expanded operating leverage in Q1 2023
ooEBITDA growth meaningfully outpaced revenue growth in Q1 2023… 17.7% 14.4% 16.3% Revenue growth (y-o-y) 17.3% ooEBITDA growth (y-o-y) 13.1% 13.0% Expanded operating leverage in Q1 2023 – Q3 2022 Q4 20222 Q1 2023 on the back of strength in the core business and completing investment …and ooEBITDA m
Slide 11: Adjusted EPS grew strongly by 27%
Adjusted EPS grew strongly by 27% Q1 Q1 (€m) +/- 2023 2022 Ordinary operating EBITDA 68.2 58.6 +16.3% Non-operating effects increased due to costs for organisational Non-operating effects -10.0 -5.0 +99.1% changes Reported EBITDA 58.2 53.6 +8.6% Improved financial results as 2022 D&A -8.0 -7.5 +6.0%
Slide 12: Confirming previous guidance for FY2023 despite macro uncertainties
Confirming previous guidance for FY2023 despite macro uncertainties Scout24 Group 2023E 12% Revenue growth 13% Ordinary operating EBITDA growth 12 Q1 2023 Results | 05/2023
Slide 13: Q&A
Q&A 13 Q1 2023 Results | 05/2023 13 Preliminary FY 2021 Results | March 2022
Slide 14: Upcoming dates and Investor Relations contact
Annual General Meeting 22 June 2023 Q2/H1 2023 results 8 August 2023 Filip Lindvall – Director Group Strategy & Investor Relations ir@scout24.com 14 Q1 2023 Results | 05/2023