Slide 1: Scout24 AG Interim Results Q3 2015 Conference Call
www.scout24.com Scout24 AG Interim Results Q3 2015 Conference Call November 11, 2015
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 o
Slide 3: Key highlights
Key highlights Exceptionally strong Q3 performance with record revenue and profitability levels − Core revenue growth of 16% − Core O.O. EBITDA(1) growth of 32% resulting in significant profitability uplift − Robust cash flow generation with 89% cash conversion(2) Strategic shift and focus on 2 co
Slide 4: ImmobilienScout24
ImmobilienScout24 Listings Traffic Monetisation Membership migration process1 Relative listings position to #2 competitor Highlights 1st membership migration cycle concluded successfully 71% 1.5x − c. 71% core agents 1.3x targeted for migration 54% already on the new plan − c. 90% of listings are
Slide 5: ImmobilienScout24 Traffic
ImmobilienScout24 Listings Traffic Monetisation Traffic Evolution1 Highlights (visits in millions) Record traffic levels with September 2014 September 2015 c.76m visits/month through desktop, mobile, tablet or = main sites Smart-TV 35% Total = mobile sites We are truly mobile-first 43% Total and
Slide 6: ImmobilienScout24 ARPU Evolution
ImmobilienScout24 Listings Traffic Monetisation ARPU Evolution Highlights (ARPU in €/month) 585 623 Significant ARPU 512 acceleration and well on 498 510 track to meet full year 466 target 424 − Run-rate of ARPU in Q3 2015 of €623 represents +22% yoy growth rate Ongoing migration to new membersh
Slide 7: AutoScout24: Focus on Germany
AutoScout24 Focus on Germany – closing the gap to mobile.de Highlights Listings Core Dealer Locations1 Listings2 (‘000) 1,133 21,976 Strong momentum 1,025 continuing 18,971 Rapid expansion of dealer base on the back of Sep 2014 Sep 2015 Sep 2014 Sep 2015 new sales approach (visits in millions)
Slide 8: AutoScout24: Focus on Italy & Benelux
AutoScout24 Focus on Italy & Benelux – cementing our leadership positions Highlights Listings Core Dealer Locations1 Listings2 (‘000) Strong momentum on 17,279 listings inventory growth 789 643 +31% Listings growth 16,174 1.3x vs. #2 (1.0x a year ago) Sep 2014 Sep 2015 Sep 2014 Sep 2015 +12% Listi
Slide 9: Financial Review
Financial Review SCOUT 24
Slide 10: Strong Growth with Increasing Profitability
Strong Growth with Increasing Profitability Group Core Operations Revenue and EBITDA Core external revenues Key highlights (in €m) IS24 growth growth Strong revenue growth y-o-y y-o-y driven by ARPU expansion Additional increase driven by first-time consolidation of Flowfact since November 286 1
Slide 11: IS24: Platform for Continued Growth
IS24: Platform for Continued Growth External revenues Key highlights (in €m) Core Agent revenues Accelerating ARPU growth driven by the successful roll- out of the membership model growth growth ARPU increase offsetting y-o-y y-o-y core agent decrease which was driven by shift to pay- 197 16% pe
Slide 12: AS24: Clear Margin Upside and Growth Potential
AS24: Clear Margin Upside and Growth Potential External revenues Key highlights (in €m) Core Dealer revenues Rapid expansion of dealer base in Germany on the growth growth back of new sales approach y-o-y y-o-y Balanced mix of dealer and 87 77 13% ARPU growth in Italy / Benelux drives continued
Slide 13: Corporate – Revenue & EBITDA
Corporate – Revenue & EBITDA Ordinary operating EBITDA mainly reflecting cost for holding activities Total Corporate Revenues Key highlights (in €m) Decrease Decrease in external in external revenues revenues mainly mainly 9 duedue to discontinuation to discontinuation of online of online 8 mark
Slide 14: Below EBITDA Items
Below EBITDA Items P&L Comments (€ million) Q3 2015 9M 2015 O.O. EBITDA 49 145 • 9M 2015 include €5.4m of IPO-related costs, remainder mainly relating to O.O. EBITDA NRI (8) (19) restructuring started in 2014 Reported EBITDA 41 126 D&A (4) (11) • Gain from sale of stake in Property Guru PPA D&A on P
Slide 15: Capital structure
Capital structure Current Debt (Nominal Value) & Terms Comments Sep-2015 Coupon Scout24 is currently rated by Tranche Amount ( €m) Reference Spread Maturity Moody’s (B1) and S&P (B+) Term Loan B 595 EURIBOR¹ 4.25% 12 - Feb-21 Net primary IPO proceeds of €214m Term Loan C 400 EURIBOR¹ 4.25% 15 -
Slide 16: Recap: Significant Cash Flow Opportunity
Recap: Significant Cash Flow Opportunity Revenue to Free Cash Flow Bridge (9M 2015) (in €m) Total Revenues 288 Solid topline driven by organic growth Operating Expenses (144) Cost optimization, OneScout24 synergies and significant operating leverage O.O. EBITDA 145 50% margin; +7pp YoY Limited NRIs
Slide 17: Outlook
Outlook Performance for the first 9 months has been in line with our expectations and the 2015 full year guidance provided Specifically for full year 2015: On topline, we expect an equally strong fourth quarter, resulting in full year external revenues around the €390m mark On profitability, we
Slide 18: SCOUT
SCOUT 24
Slide 19: Appendix
Appendix SCOUT 24
Slide 20: Additional Voluntary Disclosure: 9-month 2014 aggregated financials
Additional Voluntary Disclosure 9-month 2014 aggregated financials reconciliation S24 Holding Asa NewCo Aggregated Scout24 AG (€m) 01/01/14 - 01/04/14 - 01/01/14 - 01/01/15 - YoY % + = 31/03/14 30/09/14 30/09/14 30/09/15 Change IS24 55.7 114.4 170.1 197.0 15.8% AS24 24.6 52.8 77.4 87.4 12.9% Revenue
Slide 21: Income Statement
Income Statement 01/04/14 – 01/01/15 – (€m) 31/12/14 30/09/15 Revenues 262.9 288.4 COGS (40.2) (31.4) Gross Profit 222.6 (257.0) IT and product service costs (35.0) (36.2) Distribution and marketing costs (99.8) (94.4) Administrative expenses (80.7) (53.3) Other operating income 1.6 4.8 Other operat
Slide 22: Balance Sheet
Balance Sheet (€m) 31/12/14 30/09/15 Current assets 67.7 123.0 Cash and cash equivalents 21.4 74.8 Trade receivables 35.1 34.0 Income tax receivables 0.5 0.2 Other assets 8.8 9.4 Financial assets 1.9 4.6 Non-current assets 2,127.4 2,061.6 Intangible assets 2,060.7 2,040.7 Property, plant and equipme
Slide 23: Cash Flow Statement
Cash Flow Statement (€m) 01/04/14–31/12/14 01/01/15–30/09/15 Profit for the year (21.2) 48.2 Depreciation, amortization and impairments of intangible assets, and property, plant and equipment 50.1 47.9 Income tax expense/(income) (1.3) 19.8 Interest expense/(income) 26.1 33.4 Other financial result
Slide 24: IR Contact details and financial calendar
IR Contact details and financial calendar Investor Relations Contact Financial Calendar (expected) Wednesday Annual Report 2015 Britta Schmidt 30 March 2016 (full year and Q4) Vice President Investor Relations & Treasury Wednesday Interim Report Q1 2016 11 May 2016 Tel : +49 89 444 56 3278 Fax : +49