Slide 1: Scout24 Q3 2020 Results Analyst Call
Scout24 Q3 2020 Results Analyst Call 11 November 2020
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: In Q3, we balanced growth and margin with investments into future growth
In Q3, we balanced growth and margin Resilient growth and Slight revenue growth despite free-to-list with investments into profitabilty initiative, declining media business and Covid-19 future growth … 9M Group ooEBITDA margin up to 60% while stepping up Q3 investments 2020 FY outlook On track Multi
Slide 4: On our way to achieve full year guidance; 9M performance underlines growth and resilience
… on our way to achieve full year guidance 9M performance underlines growth and resilience €262.6m 60.0% €709 €1,740 +1.0% +0.8pp +2.1% +0.5% Group revenue ordinary operating ARPU with ARPU with (continuing operations) Group EBITDA margin residential real estate business real estate partners (includ
Slide 5: We launched one of the largest multi-channel campaigns in recent years
We launched one of the largest multi-channel campaigns in recent years – “sell better - with an agent” – catering for the needs of our 3 user groups Print ads example ” An agent finds new Agents who actually An agent often gets you An agent quickly brings young An agent sells grandpa‘s lovers for yo
Slide 6: We enhanced our digital offering for our three user groups
We enhanced our digital offering for our three user Agents groups – ▪ ~30% of membership migration Homeowners Q3 highlights target reached ▪ Free listing initiative continued ▪ New features in agent directory ▪ Improved Homeseller Hub ▪ Introduced new FLOWFACT features product world ▪ Enhanced leads
Slide 7: We are closely monitoring the impact of the current lockdown light on our user groups
We are closely monitoring the impact of the current “lockdown light” on our user groups Staying close to our customers Measures “lockdown light” Effect on IS24 user groups Developments of listing/traffic data • 4 weeks - started on 2 November (effective- • Increased information / education for agent
Slide 8: On a 9M basis, we delivered both revenue and EBITDA growth despite Covid-19 effects
On a 9M basis, we delivered both revenue and EBITDA growth despite Covid-19 effects (€m) Q3 2020 Q3 2019 +/- 9M 2020 9M 2019 +/- Scout24 Group Revenue 89.6 88.7 +1.0 % 262.6 260.0 +1.0 % ImmoScout24 Revenue 89.6 88.7 +1.1 % 262.5 259.9 +1.0 % - thereof Residential Real Estate 64.9 62.9 +3.3 % 188.2
Slide 9: The residential real estate business shows a strong year-on-year growth
The residential real estate business shows a strong year-on-year growth 63.4% 61.4% 69.7% 69.6% 46.6% 38.6% 61.0% + 3.3% Thereof: Q3 2020 62.9 64.9 ▪ Residential Real Estate Partners including IS24 ooEBITDA Revenue (€ million ) immoverkauf24: €45.0m (+5.7%) margin ▪ Consumers: €19.9m (-1.6%) - 1.5%
Slide 10: Customer retention in Q2, growth measures in Q3 – overall ARPU growth in 9M
While we successfully focused on customer retention in Q2, we reinforced growth measures in Q3 – overall ARPU growth in 9M Q3 2020 Q3 2019 +/- 9M 2020 9M 2019 +/- Residential real estate partners Residential agents and property managers, finance partners 17,216 16,162 +6.5% 17,216 16,162 +6.5% (# of
Slide 11: Intensified future investments most visible in capitalization ratio and marketing expenses
Our intensified future investments are most visible in capitalization ratio and marketing expenses Q3 Q3 9M 9M Strong increase in own work (€m) 2020 2019 +/- 2020 2019 +/- capitalised due to product and Revenues 89.6 88.7 +1.0% 262.6 260.0 +1.0% software development Own work capitalised 5.3 4.0 +34.
Slide 12: Our net income benefitted significantly from lower non-operating items
Our net income benefitted significantly from lower non-operating items Significant decrease in 9M non- (€m) Q3 2020 Q3 2019 +/- 9M 2020 9M 2019 +/- operating items mainly due to high Ordinary operating EBITDA 52.2 52.0 +0.3% 157.6 153.9 +2.4% level of share-based compensation and M&A-related costs i
Slide 13: Our liquidity situation reflects robust business development and the AutoScout24 transaction
Our liquidity situation reflects our robust business development and the AutoScout24-transaction €1,636m Net Cash1 €m as of 30 September 2020 Scout24 manages its liquidity ▪ €421m Cash and cash equivalents 3,0122 (680) (thereof €213m placed in money market and investments based on clear and €39m in
Slide 14: We reconfirm our previously announced capital return roadmap
We reconfirm our previously announced capital return roadmap Remaining shareholder return of up to €1.36 billion of the Up to €490m share buyback announced total of ~€1.69 billion following AS24 sale programme commenced in April: ~€330m repurchased until end as of 30 Sep 20 of Q3 2020 and ~€404m unt
Slide 15: The buyback tender is the key pillar of our capital return programme
The buyback tender is the key pillar of Offer • Public tender offer to repurchase shares at a fixed price our capital return • According to 2020 AGM resolution maximum premium of 10% to programme volume weighted average price 3 days before announcement • Resulting tender ratio to be communicated bef
Slide 16: We are confident to reach our full-year guidance for 2020
We are confident to reach our full-year guidance for 2020 Guidance reflects: • Strategic path continued • Resilient Scout24 business model • Integration of immoverkauf24 Group revenue: Around full year 2019 level • Continued free-to-list initiative • Reduced exposure to advertising ▪ Residential Rea
Slide 17: Your questions & backup
Your questions & backup 17 Q3 2020 Results Analyst Call
Slide 18: Income Statement
Income Statement (€ ’000) Q3 2020 Q3 2019 % change 9M 2020 9M 2019 % change Revenue 89,641 88,710 +1.0% 262,626 260,010 +1.0% Own work capitalised 5,319 3,962 +34.2% 16,144 9,857 +63.8% Other operating income 442 756 -41.5% 2,167 2,323 -6.7% Total operating performance 95,401 93,429 +2.1% 280,936 27
Slide 19: Balance Sheet (Assets)
Balance Sheet (Assets) (€ ’000) 30/09/2020 31/12/2019 Current assets 1,929,077 740,382 Cash and cash equivalents 420,906 65,574 Trade receivables 25,003 31,241 Financial assets 1,469,185 1,290 Income tax assets 59 32 Other assets 13,924 7,450 Assets held for sale - 634,795 Non-current assets 1,702,3
Slide 20: Balance Sheet (Equity and Liabilities)
Balance Sheet (Equity and Liabilities) (€ ’000) 30/09/2020 31/12/2019 Current liabilities 123,838 210,809 Trade payables 12,186 17,905 Financial and lease liabilities 23,096 31,500 Other provisions 30,364 48,038 Income tax liabilities 30,876 17,124 Contract liabilities 8,982 8,339 Other liabilities
Slide 21: Cash Flow Statement
Cash Flow Statement (€ ’000) 9M 2020 9M 2019 Cash flow from operating activities of continuing operations 97,199 89,374 Cash flow from operating activities of discontinued operations -38,417 55,198 Cash flow from operating activities (continuing and discontinued) 58,782 144,572 Cash flow from invest
Slide 22: Next events
Next events: 3 December 2020: Virtual Analyst Day (sell-side only) 25 March 2021: Publication of FY 2020 results Ursula Querette Head of Investor Relations Telephone +49 89 262 02 4939 ir@scout24.com www.scout24.com 22 Q3 2020 Results Analyst Call