Scout24 Se · XETR:G24
Scout24 — Societe Generale Nice Conference 2020
23 slides from Scout24's conference presentation, June 2020
Slide 1: Make it happen! Investor Presentation Post Q1 2020
Make it happen! Investor Presentation Post Q1 2020 Pre AGM May | June 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: 1. Strong start into 2020 with solid Q1 results
1. Strong start into 2020 with solid Q1 results 3 Post Q1 2020 | Pre AGM 2020 presentation
Slide 4: 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 5: 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 +9.6% +6.8% revenue from continuing ordinary operating monthly ARPU with monthly ARPU with operations EBITDA margin residential real estate business real estate (G
Slide 6: 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 7: Germany takes the current crisis with relatively high resilience
Germany takes the current crisis with relatively high resilience 696,000 Sales transaction in the residential real estate 10-15% Transaction cost for buyers >10% Equity needed for mortgage in Germany sector in Germany in 2019 compared to (tax, notary and land register cost, (on top of transaction co
Slide 8: ImmoScout24 delivered a strong EBITDA margin increase in Q1 2020
ImmoScout24 delivered a strong EBITDA margin increase in Q1 2020 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
Slide 9: 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 10: 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 11: 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 12: 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 13: … 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 14: 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 15: Our long-term strategy is clear: drive the real estate ecosystem in Germany
Our long-term strategy is clear: we will further drive the real estate ecosystem in Germany We expand our No. 1 We develop innovative, We collect more data, market position in smart products and and increase market Germany expand our TAM transparency We build a comprehensive We drive ARPU through ne
Slide 16: 2. AGM 2020 with several proposals pertaining to the AS24 transaction
2. AGM 2020 with several proposals pertaining to the AS24 transaction 16 Post Q1 2020 | Pre AGM 2020 presentation
Slide 17: We will hold our first virtual AGM 18 June 2020
We will hold our first virtual AGM 18 June 2020 1. Presentation of the adopted ANNUAL FINANCIAL STATEMENTS of Scout24 AG 2. Resolution on the DISTRIBUTABLE PROFIT of Scout24 AG 3. Approval of the acts (ENTLASTUNG) of the members of the Management Board 4. Approval of the acts (ENTLASTUNG) of the mem
Slide 18: Three agenda points refer to our capital return plan
Three agenda points refer to our capital return plan … Return AS24 sale proceeds to our shareholders 2 Resolution on the distributable profit of Scout24 AG Agenda • Distribution of a dividend of total amount of € 94,325,514.30 for the expired Point financial year 2019, … • Equalling a dividend of at
Slide 19: Combination of share buyback, dividend and capital reduction
... which consists of a combination of share buyback, dividend and capital reduction 2.840 up to 780 Share buybacks of up to ~€1.69 billion Reconfirming debt repayments of up to €780 million - €680 million already repaid 94 Cash (€ million) 490 Reconfirming 2019 dividend of which €680 up to 200 payo
Slide 20: Agenda Item refers to the election of new members to the Supervisory Board
Agenda Item 6 • Terms of office of all Supervisory Board members will expire at the end of the Annual General Meeting on 18 June 2020. refers to the • New elections for all positions on the Supervisory Board. election of new • Shortened terms of four years for all newly elected members. members to t
Slide 21: Six candidates for the Supervisory Board
Six candidates for the Supervisory Board representing a wide and well spread pool of expertise Dr Hans-Holger Albrecht Christoph Brand André Schwämmlein Chairman Born 1969, Swiss Born 1981, German Born 1963, German Member since 2019 Member since 2019 Member since 2018 To be appointed until AGM 2024
Slide 22: Agenda Item 10 refers to the profit and loss transfer agreement
Agenda Item 10 Organisation Chart as of 31 December 2019 refers to the profit (AutoScout24, FINANZCHECK = discontinued operations) and loss transfer agreement with Scout24 AG Munich Scout24 Beteiligungs SE Scout24 Beteiligungs Established by way 60,1% SE Bonn of the cross-border • Profit and loss tr
Slide 23: Make it happen! Next dates and contact
Make it happen! Next dates 18 June 2020: Virtual AGM 2020 (Shareholders who have duly registered can follow the AGM in full in audio and video on the Internet.) 13 August 2020: Publication of H1 2020 results Contact Ursula Querette Head of Investor Relations Telephone +49 89 444 56 3278 Fax +49 89 4