Slide 1: Scout24 AG FY 2016 Results Conference Call
www.scout24.com Scout24 AG FY 2016 Results Conference Call March 29, 2017
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: Key Operational Highlights
Key Operational Highlights We Continue to Be the Most Relevant Marketplace for BOTH our Customers and Consumers Record Listings Levels Record Traffic Levels More than 3m active listings Visits to core brands at constant high level +6% YoY 0.4m 0.9m +9% YoY 146m 148m 1.3m +7% YoY 0.5m -8% YoY Decembe
Slide 4: Key Financial Highlights
Key Financial Highlights Strong organic …sustainable …and robust & visible revenue growth… profitability… cash flows +12% +18% +20% 442 225 205 394 190 170 91% 90% 51% 48% 2015 2016 2015 2016 2015 2016 Group Revenues Group ordinary Group cash operating EBITDA1 contribution2 ooEBITDA margin Cash Conv
Slide 5: ImmobilienScout24 Listings
ImmobilienScout24 Listings Traffic Monetization Innovation Listings position Listings per Customer based on total customers 510 +3% 480 IS24 450 1.6x 420 1.5x 19.7 20.3 1.4x # listings, in thousands 390 360 Dec 15 Dec 16 IS24 330 300 -10% combined comp. Comp 2 270 Comp 1 16.7 15.1 240 0 Dec 15 Mar 1
Slide 6: ImmobilienScout24 Listings
ImmobilienScout24 Listings Listings Traffic Monetization Innovation Excluding agents leaving the business, core Dec 2015 19.4 agent number increasing slightly in Q4 2016 (1.0) Regain and new customer acquisitions outnumbering gross churn (0.8) 17% increase in customer winback rate (based on mo
Slide 7: ImmobilienScout24 Traffic Evolution
ImmobilienScout24 Listings Traffic Monetization Innovation Traffic Evolution1 (visits in millions) 37% 31% +11% y-o-y growth Total: Total: 72m 72m 63% = main sites 69% = mobile sites and apps 2015 2016 Unique Visitors (2016)2 Time Spent (2016)2 (in millions) (in minutes) 6.4m 50% of the 477m 73% mar
Slide 8: ImmobilienScout24 ARPU Evolution
ImmobilienScout24 Listings Traffic Monetization Innovation ARPU Evolution (ARPU in €/month) 623 762 711 510 655 602 87% Membership migration mostly finalized 512 Membership 76% in 2016; 466 migration status2 non- membership products to expire by end of 2017 1 2013 2014 2015 2016 Q4 2015 Q4 2016 1. G
Slide 9: Percentage of Core Agents
ImmobilienScout24 Listings Traffic Monetization Innovation More and more of our core agents are recognizing our value proposition 30% 25% ~60% of our core agents spent less Percentage of Core Agents 20% than €500/month in 2016 15% 2.5k core agent members spent more than 10% €1,000/month, up 42% sinc
Slide 10: ImmobilienScout24 Innovation
ImmobilienScout24 Listings Traffic Monetization Innovation Virtual Reality Viewings Take a tour at vr.immobilienscout24.de Property you might also like Lead-Engine/ Agent recommendation page 9
Slide 11: ImmobilienScout24 Wrap-Up
ImmobilienScout24 Wrap-Up What We Have Delivered What We Are Working On Membership migration near Drive VIA power usage and further expand completion ARPU Continue to roll-out regional product and Increased listings market share pricing strategy Successfully implemented initiatives to Drive sales fo
Slide 12: AutoScout24 Focus on Germany
AutoScout24 Focus on Germany – Strengthening Market Positioning Core Dealer Locations1 Listings2 (‘000) +10% +7% 22,298 24,421 1,206 1,286 Listings Dec 2015 Dec 2016 Dec 2015 Dec 2016 (visits in millions) 37% Direct German +17% y-o-y growth traffic partially 50% re-directed to Total: Total: Eastern
Slide 13: AutoScout24 Focus on Italy & Benelux
AutoScout24 Focus on Italy & Benelux – Cementing our Leadership Positions Core Dealer Locations1 Listings2 +11% Listings growth (‘000) +7% 1.3 vs. #2 +13% 17,447 18,747 +17% Listings growth 923 814 Listings 1.2x vs. #2 +11% Listings growth 2.2x vs. #2 Dec 2015 Dec 2016 Dec 2015 Dec 2016 (visits in m
Slide 14: AutoScout24 Innovation
AutoScout24 Listings Traffic Monetization Innovation Car Valuation Express Car sale New Car seamless integration page 13
Slide 15: AutoScout24 Wrap-Up
AutoScout24 Wrap-Up What We Have Delivered What We Are Working On Successfully implemented and proofed Execute on sales strategy to further cement new sales approach Benelux and Italy leadership position Further increase penetration of Marketing Rollout Marketing Power pricing model power products a
Slide 16: Scout24 Media Well Positioned for Further Growth
Scout24 Media Well Positioned for Further Growth Along Value-Chains Revenue growth 2016 page 15
Slide 17: Financial Review
Financial Review
Slide 18: Group Strong organic growth and sustainable profitability
Group Strong organic growth and sustainable profitability growth y-o-y growth y-o-y Revenues 442 12% (in €m) 394 26% 10% 105 116 24% 7% 5% Q4 2015 Q4 2016 2015 2016 AS24 IS24 Corporate other ordinary operating EBITDA 51% growth y-o-y growth y-o-y 48% 225 18% 190 49% 43% 57 27% 45 Q4 2015 Q4 2016 201
Slide 19: ImmobilienScout24 Platform for Continued Growth
ImmobilienScout24 Platform for Continued Growth External Revenues Key highlights growth y-o-y growth y-o-y (in €m) Core Agent revenues 285 7% 267 Revenue growth driven by solid ARPU increase partially offset by 5% 11% decreasing core agent numbers Other Agent revenues 7% 5% Slight increase in Pr
Slide 20: AutoScout24 Delivering on Growth Potential
AutoScout24 Delivering on Growth Potential External Revenues 152 growth y-o-y Key highlights growth y-o-y 26% (in €m) Core Dealer revenues 121 Ongoing expansion of dealer 10% base and ARPU in Germany due to success of new sales approach 24% 20% and visibility product roll-out Strong ARPU growth
Slide 21: Ordinary Operating Cost
Ordinary Operating Cost FY 2015 FY 2016 (in €m) Comments • increase in staff of ~10% (100 FTE Revenues 393.6 442.1 average) during 2016 compared to 2015 • including €0.5m for stock-option Own work capitalised 10.6 11.7 programme for employees (SOP) • €3.5m of additional expenses for SOP Personnel (i
Slide 22: Below EBITDA Items
Below EBITDA Items FY 2015 FY 2016 (in €m) Comments • include €4.0m from share-based compensation (Management Equity Ordinary operating EBITDA 189.6 224.5 Programmes, thereof €0.8m non-cash), €1.8m performance based compensation Non-operating items (22.6) (17.8) stemming from a purchase price agreem
Slide 23: Strong Free Cash Flow Generation
Strong Free Cash Flow Generation Revenue to Free Cash Flow Bridge (2016) (in €m) Total Revenue 442 Solid topline driven by organic growth Operating Expenses (218) Cost efficiencies and significant operating leverage oo EBITDA 225 50.8% non-operating items (18) margin Decreasing non-operating cost Re
Slide 24: Capital structure
Capital structure Strong deleveraging profile and low interest margins supporting dividend payment Margin ratchet thresholds Key highlights Leverage Margin1 (Net Debt/EBITDA) Term Loan Revolving Facility2 Scout24 was recently upgraded by the rating agencies and is now rated Ba3 by Moody’s and BB-
Slide 25: Outlook Full Year 2017
Outlook Full Year 2017 Revenues (in €m) 442 Group revenues expected to record high-single-digit percentage growth rate IS24 is expected to achieve a mid-single percentage revenue growth rate, revenue growth weighted towards second half 2017 with acceleration to a mid- to high-single-digit growth r
Slide 26: SCOUT
SCOUT 24
Slide 27: Reconciliation Adjusted Earnings
Reconciliation Adjusted Earnings (EUR millions) 2015 2016 Earnings before Tax 78.9 98.5 Add back non-operating items 22.6 17.8 49.6 Add back D&A on PPA items 49.6 Add back extraordinary finance expense/ income and effects from derivative (1,3) (1,8) instruments Deduct Profit from disposal of investm
Slide 28: Key performance indicators IS24
Key performance indicators IS24 (in EUR million, Q4 2015 Q4 2016 +/- 2015 2016 +/- unless otherwise stated) Revenues from core agents 38,7 39,7 2,6% 149,6 156,9 4,9% (Germany) Revenues from other agents 8,3 9,1 9,6% 33,7 35,4 5,0% Other revenues 22,7 24,3 7,0% 83,5 92,4 10,7% Total external revenues
Slide 29: Key performance indicators AS24
Key performance indicators AS24 (in EUR million, Q4 2015 Q4 2016 +/- 2015 2016 +/- unless otherwise stated) Revenues from core dealers 12.1 15.2 25.6% 43.3 55.8 28.9% (Germany) Revenues from core dealers 9.6 12.7 32.3% 36.0 48.9 35.8% (Benelux/Italy) Revenues from other dealers 3.1 3.5 12.9% 11.6 13
Slide 30: Income Statement
Income Statement 2015 2016 (EUR millions) Revenues 393.6 442.1 Own work capitalised 10.6 11.7 Other operating income 8.5 2.6 Total operating performance 412.7 456.4 Personnel expenses (99.5) (112.0) Advertising expenses (50.6) (50.6) IT expenses (12.3) (13.3) Other operating expenses (83.2) (73.7) E
Slide 31: Balance Sheet 1/2
Balance Sheet 1/2 Assets 12/31/2015 12/31/2016 (EUR '000) Current assets 117.7 96.2 Cash and cash equivalents 70.6 43.4 Trade receivables 37.8 43.3 Financial assets 0.3 0.4 Income tax receivables 0.3 1.2 Other assets 8.6 7.8 Non-current assets 2,055.5 2,034.7 Goodwill 787.3 816.2 Trademarks 983.7 98
Slide 32: Balance Sheet 2/2
Balance Sheet 2/2 Equity and liabilities 12/31/2015 12/31/2016 (EUR '000) Current liabilities 86.9 112.3 Trade payables 25.6 27.9 Financial liabilities 6.0 31.8 Other provisions 4.7 4.0 Income tax liabilities 15.3 15.9 Other liabilities 35.3 32.7 Non-current liabilities 1,165.0 1,027.8 Financial lia
Slide 33: Cash Flow Statement 1/2
Cash Flow Statement 1/2 (EUR millions) 01/01/ - 12/31/15 01/01/16 - 12/31/16 Earnings after tax 56.9 66.9 Depreciation. amortisation and impairment losses 65.6 65.5 Income tax expense/(income) 22.0 31.6 1 Financial income (4.8) (3.0) 1 Financial expenses 48.5 45.9 Result from investments accounted f
Slide 34: Cash Flow Statement 2/2
Cash Flow Statement 2/2 (EUR millions) 01/01/ - 12/31/15 01/01/16 - 12/31/16 Cash flow from investing activities 36.2 (48.8) Drawing down of short-term financial liabilities - 30.0 Repayment of short-term financial liabilities (0.1) (3.0) Drawing down of medium- and long-term financial liabilities 4
Slide 35: IR Contact details and financial calendar
IR Contact details and financial calendar Financial Calendar (expected) Wednesday Interim Report Q1 2017 Full year report 10 May 2017 report.scout24.com/2016 Thursday Annual General Meeting 8 June 2017 Wednesday Half Year Report 2017 http://www.scout24.com/en/Investor-Relations.aspx 9 August 2017 We