Slide 1: Make it happen! Q1 2020 Results Analyst Call
Make it happen! Q1 2020 Results Analyst Call 14 May 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: How we made it happen in Q1 2020
How we made it happen in Q1 2020 Strong start into Successful growth strategy 2020 Resilience in turbulent market environment Comprehensive Supporting our real estate partners Covid-19 action Strengthening our market position programme Cost efficiency measures Successful €2.84 billion net cash proce
Slide 4: We delivered strong Q1 performance across all metrics
We delivered strong Q1 performance across all metrics Q1 2020 highlights for continuing operations €89.1m 64.6% €729 €1,811 +5.6% +5.2pp +8.7% +6.8% revenue from continuing ordinary operating monthly ARPU with monthly ARPU with operations EBITDA margin residential real estate business real estate (G
Slide 5: And we are using our strong position to support our partners
And we are Homeowners using our strong position to Agents ▪ Increasing supply: for-sale listings back to pre-Covid support our ▪ Increasing relaxation on contact levels partners restrictions ▪ Increasing demand: residential sale enquiries ▪ Increasing supply: professional +9% vs. pre-Covid levels li
Slide 6: ImmoScout24 delivered a strong EBITDA margin increase
ImmoScout24 delivered a strong EBITDA margin increase Performance cockpit External Revenue ooEBITDA ooEBITDA margin (€m) Q1 2020 Q1 2019 +/- Q1 2020 Q1 2019 +/- Q1 2020 Q1 2019 +/- New Scout24 Group 55.1 48.2 14.4 % 61.8 % 57.1 % 4.7 Pp 89.1 84.4 +5.6% (continuing) ImmoScout24 89.1 84.3 +5.6% 57.5 5
Slide 7: All three segments contributed to the increase in EBITDA margin
All three segments contributed to the increase in EBITDA margin Segment performance cockpit 60.6% 65.0% 66.1% 73.6% 37.2% 39.9% 64.6% + 7.1% Q1 2020 IS24 Revenue (€ million ) 63,4 59,2 ooEBITDA margin + 6.4% 16,8 17,9 -6.4% 59.4% 8,3 7,8 Q1 2019 IS24 ooEBITDA margin Residential Real Estate Business
Slide 8: We delivered strong ARPU growth
We delivered strong ARPU growth Adjusted residential real estate ARPU calculation Q1 2020 Q1 2019 Change Residential real estate partners (# of core-customers1 end of period) 16,680 16,201 +3.0% - thereof residential agents and property managers 15,289 14,841 +3.0% - thereof finance partners 1,391 1
Slide 9: We achieved a 62% Group ooEBITDA margin
We achieved a 62% Group ooEBITDA margin Efficient cost savings (€m) Q1 2020 Q1 2019 +/- Revenues 89.1 84.4 +5.6% Strong revenue development Own work capitalised 5.4 3.0 +79.7% Comparatively higher own work Personnel -20.7 -22.9 -9.7% capitalised (project developments) Marketing -8.2 -8.0 +2.5% Cost
Slide 10: And we are delivering on our announced cost base optimisation
And we are delivering on our announced cost base optimisation … “GSD” cost base Further measures in optimisation Covid-19 context “Memo items” €10m additional cost €4m dis-synergies €14m cost savings savings identified from sale of AS24 projected for 2020 at the in 2020 Capital Markets Day 2019 Impl
Slide 11: .. which drops through to reported earnings
.. which drops through to “reported” earnings Below EBITDA items Lower non-operating items of €2.5m (€m) Q1 2020 Q1 2019 +/- mainly consisting of reorganisation costs; higher share-based Ordinary operating EBITDA 55.1 48.2 +14.4% compensation in Q1 2019 Non-operating items -2.5 -10.2 -75.2% Reported
Slide 12: We have a fortress balance sheet with excess cash €2,080m
We have a fortress balance sheet with excess cash €2,080m Net Cash Net Cash Debt structure Loan volume Loan volume as as of of 1 April April2020 1 31/03/2020* 01/04/2020 (€m) (€m) Term Loan 300 100 €m 2,332 RCF I (drawn) 120 0 100 832 RCF I (undrawn) 80 200 572 RCF II (drawn) 0 0 (315) Debt (45) RCF
Slide 13: Reconfirming up to €1.69bn capital distribution to shareholders via share buybacks
Reconfirming up to €1.69bn capital distribution to shareholders via share buybacks … Reconfirming debt repayments of 2.840 up to 780 Share buybacks of up to ~€1.69 billion up to €780 million - €680 million already repaid up to 94 Cash (€ million) up to 490 Reconfirming 2019 dividend proposal of €0.9
Slide 14: … to be voted on at the AGM on 18 June
… to be voted on at the AGM on 18 June Agenda points corresponding to capital return plan Agenda Resolution on the distributable profit of Scout24 AG Point 2 • Distribution of a dividend of total amount of € 94,325,514.30 for the expired financial year 2019, … • Equaling a dividend of € 0.90 per no-
Slide 15: Your questions & backup
Your questions & backup 15 Q1 2020 Results Analyst Call
Slide 16: Income Statement
Income Statement (€ ’000) Q1 2020 Q1 2019 % change Revenue 89,110 84,361 5.6% Own work capitalised 5,383 2,995 79.7% Other operating income 296 725 -59.2% Total operating performance 94,789 88,081 7.6% Personnel expenses -17,890 -26,469 -32.4% Advertising expenses -8,264 -8,129 1.7% IT expenses -4,1
Slide 17: Balance Sheet (Assets)
Balance Sheet (Assets) (€ ’000) 31.03.2020 31.12.2019 Current assets 3,338,449 740,382 Cash and cash equivalents 2,332,261 65,574 Trade receivables 28,325 31,241 Financial assets 320,657 1,290 Income tax assets 37 32 Other assets 15,655 7,450 Assets held for sale 641,514 634,795 Non-current assets 1
Slide 18: Balance Sheet (Equity and Liabilities)
Balance Sheet (Equity and Liabilities) (€ ’000) 31.03.2020 31.12.2019 Current liabilities 3,168,282 210,809 Trade payables 44,297 17,905 Financial and lease liabilities 125,551 31,500 Other provisions 34,737 48,038 Income tax liabilities 22,499 17,124 Contract liabilities 9,067 8,339 Other liabiliti
Slide 19: Cash Flow Statement
Cash Flow Statement (€ ’000) Q1 2020 Q1 2019 Cash flow from operating activities of continuing operations 43,769 29,270 Cash flow from operating activities of discontinued operations 17,196 11,548 Cash flow from operating activities (continuing and discontinued) 60,965 40,818 Cash flow from investin
Slide 20: Make it happen!
Make it happen! Ursula Querette Head of Investor Relations Telephone +49 89 444 56 3278 Fax +49 89 444 56 193278 ir@scout24.co www.scout24.com 20 Q1 2020 Results Analyst Call