Scout24 Se · XETR:G24
Scout24 — Q3 2023 Earnings Presentation
14 slides from Scout24's earnings presentation, Nov 2, 2023
Slide 1: Analyst Call – Results for Q3/9M 2023
Making a difference Analyst Call – Results for Q3/9M 2023 2 November 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: Continued strong profitable growth in Q3 2023 leads to another upgrade of ooEBITDA guidance
Double-digit revenue momentum continued in Q3 2023, with 16% reported and 10% organic growth, translating into 13% reported and 11% organic growth YTD Core business continues to perform exceptionally well – continuing to gain professional customers in Q3 2023 and private subscriptions accelerated vs
Slide 4: Q3 2023 performance driven by continued strong revenue growth despite tough comparable
Q3 2023 performance driven by continued strong revenue growth despite tough comparable y-o-y Group €132.8m €78.1m +15.7% (+9.8% organic) +22.1% (+19.2% organic) Group revenue Group ordinary operating EBITDA (58.8% margin; 60.5% margin excl. Sprengnetter) Professional €75.6m 21,937 €1,149 +14.1% +3.3
Slide 5: 9M 2023 double-digit revenue growth with significant operating leverage
In 9M 2023, double-digit revenue growth coupled with significant operating leverage led to strong margin expansion Group €376.6m €224.5m +13.3% (organic 11.3%) +21.6% (organic 20.6%) Group ordinary operating EBITDA Group revenue (59.6% margin; 60.2% margin excl. Sprengnetter) Professional €216.6m 21
Slide 6: Core business continues to drive top-line growth
Core business continues to drive top-line growth 9M 2023 performance 9M 2023 share of 2026 targets Five value drivers (vs 9M 2022) group revenue (CAGR) 1 Membership revenue +15.0% +4-6% 50% Professional 2 Seller leads revenue (1) -5.5% 8% +30-40% 3 Mortgage (1) +8.8% 4% +18-20% 4 + 5 Private subscri
Slide 7: Revenue growth and ooEBITDA margin increase across all segments in 9M 2023
Revenue growth and increase in ooEBITDA margin across all segments in 9M 2023 59.6% +13.3% Revenue (€ million) 55.6% 376.6 332.3 65.3% +11.1% 60.4% 241.6 217.4 51.2% 50.4% +20.3% 107.5 89.3 42.2% 32.7% +7.5% 25.6 27.5 Professional Private Media & Other Group 9M 2022 9M 2023 % Increase vs. 9M 2022 %
Slide 8: Membership business continues to drive growth in the Professional segment
Membership business continues to drive growth in the Professional segment; increased profitability despite Growth driven by a combination of Sprengnetter consolidation customer acquisitions, listing price adjustments, and upgrades to Q3 Q3 9M 9M (€m) 2023 2022 +/- 2023 2022 +/- higher-value membersh
Slide 9: Private segment growth driven by continued strong subscriber and PPA growth
Private segment growth driven by continued strong subscriber and PPA growth Q3 Q3 9M 9M Subscriptions growth accelerated (€m) +/- +/- vs. Q2 2023 continues to be driven 2023 2022 2023 2022 by new customers Private revenue 37.1 31.6 +17.4% 107.5 89.3 +20.3% of which subscriptions 18.5 15.4 +19.7% 52.
Slide 10: Strong ooEBITDA margin expansion continued in Q3 2023, despite Sprengnetter
Strong ooEBITDA margin expansion continued in Q3 2023, despite consolidation of Sprengnetter Q3 Q3 9M 9M Own work capitalized continues to (€m) +/- +/- decrease due to completion of 2023 2022 2023 2022 development & integration projects Revenues 132.8 114.7 +15.7% 376.6 332.3 +13.3% Own work capital
Slide 11: Adjusted and reported EPS continues to grow strongly
Adjusted and reported EPS continues to grow strongly Q3 Q3 9M 9M (€m) +/- +/- Non-operating effects decreased in 2023 2022 2023 2022 Q3 due to lower share-based comp Ordinary operating EBITDA 78.1 63.9 +22.1% 224.5 184.6 +21.6% and lower M&A expenses Non-operating effects -5.1 -10.2 +50.0% -23.3 -17
Slide 12: Updated FY2023 financial guidance prioritizes increased operating leverage
Updated FY2023 financial guidance reflect deliberate management decision to prioritize increased operating leverage 2023E 2023E Previous Updated Revenue growth Scout24 Group c.15% c.14% (c. 3pp contribution from (c. 3pp contribution from Sprengnetter) Sprengnetter) Ordinary operating Scout 24 Group
Slide 13: Q&A
Q&A 13 Q3/9M 2023 Results | 11/2023 13 Preliminary FY 2021 Results | March 2022
Slide 14: Financial calendar and Investor Relations contact
Preliminary financial results Q4/FY 2023 - 28 February 2024 Capital Markets Day planned - 28 February 2024 Filip Lindvall – Vice President Group Strategy & Investor Relations ir@scout24.com 14 Q3/9M 2023 Results | 11/2023