Slide 1: Scout24 AG H1 2017 Results Conference Call
www.scout24.com Scout24 AG H1 2017 Results Conference Call August 9, 2017
Slide 2: Disclaimer
Disclaimer This document has been issued by Scout24 AG (the “Company” and, together with its direct and indirect subsidiaries, the "Group") and does not constitute or form part of and should not be construed as any offer or invitation to sell or issue, or any solicitation of any offer to purchase or
Slide 3: Key Operational Highlights
Key Operational Highlights We Continue to Be the Most Relevant Marketplace for BOTH our Customers and Consumers Record Listings Levels Record Traffic Levels Around 3m active listings Visits to core brands at constant high level 0.4m Dealer listings:+1% YoY1 0.9m Dealer listings:+10% YoY1 156m 161m 1
Slide 4: Key Financial Highlights
Key Financial Highlights Strong organic …sustainable …and robust & visible revenue growth… profitability… cash flows +8% +12% +14% 233 123 114 216 109 100 53% 51% 92% 91% H1 2016 H1 2017 H1 2016 H1 2017 H1 2016 H1 2017 Group Revenues Group ordinary Group cash operating EBITDA1 contribution2 ooEBITDA
Slide 5: ImmobilienScout24: Listings
ImmobilienScout24 Listings Traffic Monetization Listings position Listings per Customer 510 based on total customers IS24 +4% 480 Adding 450 around 1,000 1.7x more exclusive 20.0 20.8 # listings, in thousands 420 1.6x listings on 1.5x average per day than #2 390 competitor June 16 June 17 IS24 360 -
Slide 6: ImmobilienScout24: Core agent numbers
ImmobilienScout24 Listings Traffic Monetization Dec 2016 17.4 Core agent numbers stable in Q2 2017 Excluding agents leaving the business, core agent numbers increasing Q2 2017 (+0.4) 0.1 Churn rate on record low level (0.5) Significant increase in customer winback rate (based on monthly run
Slide 7: ImmobilienScout24: Traffic Evolution
ImmobilienScout24 Listings Traffic Monetization Traffic Evolution1 (visits in millions) 27% 32% +14% y-o-y growth Total: Total: 75m 79m = main sites 73% 68% = mobile sites H1 2016 and apps H1 2017 Unique Visitors (H1 2017)2 Time Spent (H1 2017)2 (in millions) (in minutes) 6.1m 571m 50% of the market
Slide 8: ImmobilienScout24: ARPU Evolution
ImmobilienScout24 Listings Traffic Monetization ARPU Evolution (ARPU in €/month) 623 761 711 510 703 90% Membership 602 migration mostly Membership 82% finalized; 512 migration status2 non- membership 466 products to expire by end of 2017 1 2013 20141 2015 2016 H1 2016 H1 2017 1. Given the Group’s c
Slide 9: Percentage of Core Agents
ImmobilienScout24 Listings Traffic Monetization More and more of our core agents are recognizing our value proposition Percentage of Core Agents Number of core agents spending more than €1,000/month up +4% in H1 2017 (+1.5x since 2014) 2014 2015 2016 H1 2017 Revenue per Core Agent / month Sources: I
Slide 10: ImmobilienScout24 Wrap-Up
ImmobilienScout24 Wrap-Up What We Have Delivered What We Are Working On Leveraging regional product and pricing Increased listings market share strategy Successful roll-out of major product Support product innovations with marketing innovations First success in VIA upsell in residential Continue to
Slide 11: AutoScout24: Focus on Germany
AutoScout24 Focus on Germany – Strengthening Market Positioning Core Dealer Locations1 Dealer Listings2 (‘000) +10% +2% 23,235 25,532 997 1,013 Listings2 June 2016 June 2017 June 2016 June 2017 (visits in millions) German traffic 43% +8% y-o-y growth 36% partially re- directed to Eastern Total: Tota
Slide 12: AutoScout24: Focus on Italy & Benelux
AutoScout24 Focus on Italy & Benelux – Cementing our Leadership Positions Core Dealer Locations1 Dealer Listings2 +14% Listings growth2 (‘000) +1% 1.6x vs. #2 +10% 18,712 18,988 634 Listings2 +6% Listings growth 2 579 1.5x vs. #2 +4% Listings growth2 2.0x vs. #2 June 2016 June 2017 June 2016 June 20
Slide 13: AutoScout24 Wrap-Up
AutoScout24 Wrap-Up What We Have Delivered What We Are Working On Closing the gap on dealer locations to Further execute on sales strategy to narrow our competition in Germany content gap Creating tangible USPs/ Further leverage USPs to narrow traffic and differentiation points content gap vs. our c
Slide 14: Financial Review
Financial Review
Slide 15: Group Strong organic growth and sustainable profitability
Group Strong organic growth and sustainable profitability growth y-o-y Revenues 233 8% 216 (in €m) growth y-o-y 15% 9% 110 120 15% 5% 5% Q2 2016 Q2 2017 H1 2016 H1 2017 AS24 IS24 Corporate other ordinary operating EBITDA 53% growth y-o-y 51% 123 12% 109 56% growth y-o-y 52% 66 16% 57 Q2 2016 Q2 2017
Slide 16: ImmobilienScout24 Platform for Continued Growth
ImmobilienScout24 Platform for Continued Growth External Revenues Key highlights growth y-o-y growth y-o-y (in €m) 5% 5% Core Agent revenues Core agent revenues show stable 140 147 development compared to Q1 11% 2017 reflecting improvement in core agent trends 71 74 3% Ongoing solid ARPU increas
Slide 17: AutoScout24 Delivering on Growth Potential
AutoScout24 Delivering on Growth Potential External Revenues Key highlights growth y-o-y growth y-o-y (in €m) Core Dealer revenues 15% 84 15% Strong ARPU expansion in 73 5% Germany and Benelux/Italy on the back of implemented price 5% increases and ongoing MIA penetration 43 10% 38 19% Increasin
Slide 18: Ordinary Operating Cost
Ordinary Operating Cost H1 2016 H1 2017 (in €m) Comments Revenues 215.9 233.4 Own work capitalised 5.5 5.8 • increase driven by regular salary increase as well as talent upgrade Personnel (incl. external labour) (58.8) (60.6) • Marketing expenses reflecting certain Marketing (online & offline) (24.5
Slide 19: Strong Free Cash Flow Generation
Strong Free Cash Flow Generation Revenue to Free Cash Flow Bridge (H1 2017) (in €m) Total Revenue 233 Solid topline driven by organic growth Operating Expenses (111) Operating leverage oo EBITDA 123 52.6% non-operating items (11) margin Reported EBITDA 112 Capex (9) Limited capex requirements Report
Slide 20: Below EBITDA Items
Below EBITDA Items H1 2016 H1 2017 (in €m) Comments Ordinary operating EBITDA 109.4 122.8 • include €2.2m effect from share-based compensation (Management Equity Non-operating items (9.6) (10.7) Programmes), €1.5 m performance based compensation stemming from a Reported EBITDA 99.7 112.1 purchase pr
Slide 21: Capital structure
Capital structure Strong deleveraging profile and low interest margins supporting dividend payment Margin ratchet thresholds Key highlights Leverage Margin1 (Net Debt/EBITDA) Term Loan Revolving Facility2 Refinancing end of 2016 significantly improved >3.00x 2.00% 1.60% interest margins (H1 2017:
Slide 22: Outlook Full Year 2017
Outlook Full Year 2017 Reiterating full year outlook Revenues (in €m) 233 Group revenues expected to record high-single-digit percentage growth rate ▪ IS24 is expected to achieve a mid-single percentage revenue growth rate, revenue growth weighted towards second half 2017 with acceleration to a mid-
Slide 23: Appendix
SCOUT 24
Slide 24: Reconciliation Adjusted Earnings
Reconciliation Adjusted Earnings (EUR millions) H1 2016 H1 2017 Earnings before Tax 44.3 80.1 Add back non-operating items 9.6 10.7 Add back D&A on PPA items 24.7 19.6 Add back extraordinary finance expense/ 5.0 (3.4) income and effects from derivative instruments Deduct Profit from disposal of inve
Slide 25: Key performance indicators IS24
Key performance indicators IS24 (in EUR million, Q2 2016 Q2 2017 +/- H1 2016 H1 2017 +/- unless otherwise stated) Revenues from core agents (Germany) 38.8 39.4 1.5 % 77.9 78.7 1.0 % Revenues from other agents 8.9 9.5 6.7 % 17.4 17.9 2.9 % Other revenues 23.4 25.5 9.0 % 44.9 50.0 11.4 % Total externa
Slide 26: Key performance indicators AS24
Key performance indicators AS24 (in EUR million, Q2 2016 Q2 2017 +/- H1 2016 H1 2017 +/- unless otherwise stated) Revenues from core dealers 13.5 16.2 20.0 % 26.7 32.1 20.2 % (Germany) Revenues from core dealers 12.6 14.5 15.1 % 23.5 27.9 18.7 % (Benelux/Italy) Revenues from other dealers 3.4 3.6 5.
Slide 27: Income Statement
Income Statement H1 2016 H1 2017 (EUR millions) Revenues 215.9 233.4 Own work capitalised 5.5 5.8 Other operating income 0.8 0.3 Total operating performance 222.1 239.5 Personnel expenses (55.0) (58.4) Advertising expenses (24.6) (25.9) IT expenses1 (8.4) (7.8) Other operating expenses (34.3) (35.2)
Slide 28: Balance Sheet 1/2
Balance Sheet 1/2 Assets 12/31/2016 06/30/2017 (EUR '000) Current assets 96.2 117.1 Cash and cash equivalents 43.4 62.7 Trade receivables 43.3 42.9 Financial assets 0.4 0.7 Income tax receivables 1.2 1.0 Other assets 7.8 9.8 Non-current assets 2,034.7 2,016.5 Goodwill 816.2 861.2 Trademarks 983.5 98
Slide 29: Balance Sheet 2/2
Balance Sheet 2/2 Equity and liabilities 12/31/2016 06/30/2017 (EUR '000) Current liabilities 112.3 99.1 Trade payables 27.9 19.9 Financial liabilities 31.8 32.1 Other provisions 4.0 5.5 Income tax liabilities 15.9 6.9 Other liabilities 32.7 34.8 Non-current liabilities 1,027.8 1,019.9 Financial lia
Slide 30: Cash Flow Statement 1/2
Cash Flow Statement 1/2 (EUR millions) 01/01/16 - 06/30/16 01/01/17 - 06/30/17 Earnings after tax 29.5 54.9 Depreciation. amortisation and impairment losses 32.4 28.3 Income tax expense/(income) 14.9 25.2 Financial income1 (0.1) (3.4) Financial expenses1 23.1 7.1 Result from investments accounted fo
Slide 31: Cash Flow Statement 2/2
Cash Flow Statement 2/2 (EUR millions) 01/01/16 - 06/30/16 01/01/17 - 06/30/17 Cash flow from investing activities (38.8) (9.9) Repayment of short-term financial liabilities (40.1) (0.1) Interest paid (15.8) (6.1) Dividends paid - (32.3) Cash flow from financing activities (55.9) (38.5) Effect of fo
Slide 32: IR Contact details and financial calendar
IR Contact details and financial calendar Financial Calendar (expected) Half year report 2016 Wednesday Interim Report Q3 2017 http://www.scout24.com/en/Investor-Relations/Financial- 8 November 2017 Publications/Financial-Reports/Financial-reports.aspx Tuesday Capital Markets Day 14 November 2017 Fu