Slide 1: Q1 2018 Results Conference Call
Q12018 Results Conference Call Scout24 AG Christian Gisy (CFO) May 8, 2018 Q1 2018 Results Conference Call page 1
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: Recap: IFRS changes to be considered for 2017 and Outlook 2018
Recap: IFRS changes to be considered for 2017 and Outlook 2018 IFRS 15 (Recognition of Revenues) • Mandatory as of 1 January 2018 • 2017 financials restated, Actuals 2018 and Outlook 2018 adapted to reflect adjustment • Negative impact on Revenue of € 7.2m in 2017 and ~€8.0 m in 2018 for full year I
Slide 4: Key Financial Highlights
Key Financial Highlights Strong organic …sustainable profitability… …and robust & visible cash flows revenue growth… Like-for-like +13% +6% 10% for IFRS 16 (+10%) adoption 123 56 64 56 (58) 52 112 1.4 94% 93% 52% 52% 88% 50% Q1 2017 Q1 2018 Q1 2017 Q1 2018 Q1 2017 Q1 2018 Group Revenues Group ordina
Slide 5: ImmobilienScout24 Platform for Continued Growth
ImmobilienScout24 Platform for Continued Growth +6% 60 57 Like-for-like for IFRS 16 +4% adoption (+2%) 38 (39) 40 0.8 68% 67% 65% Q1 2017 Q1 2018 Q1 2017 Q1 2018 External Revenues ordinary operating EBITDA ooEBITDA-margin Note: All figures in € millions. Q1 2017 restated for IFRS 15. Q1 2018 Figures
Slide 6: ImmobilienScout24 VIA – Providing Value to our Partner's Businesses
ImmobilienScout24 VIA – Providing Value to our Partner’s Businesses Value-added Product Solutions Premium Successfully listing market existing 29% products objects Media Build local Display reputation & Advertising brand products Increase stock VIA Revenues as % of Acquisition total IS24 Revenues an
Slide 7: AutoScout24 Delivering on Growth Potential
AutoScout24 Delivering on Growth Potential +16% +28% (+25%) 42 Like-for-like for IFRS 16 19 adoption 36 15 (15) 0.3 45% 42% 41% Q1 2017 Q1 2018 Q1 2017 Q1 2018 External Revenues ordinary operating EBITDA ooEBITDA-margin Note: All figures in € millions. Q1 2017 restated for IFRS 15. Q1 2018 Figures c
Slide 8: AutoScout24 Performance and Display – Clear Benefit for our Partners
AutoScout24 Performance and Display – Clear Benefit for our Partners Value-added Product Solutions 19% Premium Increase listing demand products performance Media Build local Display reputation & MIA Revenues as % of Advertising brand products total AS24 Revenues (Q1 2018) page 8
Slide 9: Consumer Services On the Way to a €100m+ Business
Consumer Services On the Way to a €100m+ Business +13% 21 Like-for-like for IFRS 16 +8% 18 adoption (+6%) 6 (6) 7 0.1 34% 34% 32% Q1 2017 Q1 2018 Q1 2017 Q1 2018 External Revenues ordinary operating EBITDA Note: All figures in € millions. ooEBITDA-margin Q1 2017 restated for IFRS 15. Q1 2018 Figures
Slide 10: Scout24 Consumer Services Driving Digitisation through Product Innovation
Scout24 Consumer Services Driving Digitisation through Product Innovation Finance Direct Consumer Monetisation Bringing Car Financing to the Next Level Creating a Scalable and Recurring Business Model, Consumers Become Customers Exclusive Dealer Financing MVP launchend currently 54,000 paying subscr
Slide 11: Ordinary Operating Cost
Ordinary Operating Cost Comments Q1 2017 Q1 2018 (in €m) • Increase in capitalisation of internally generated assets partially due to change in methodology of accounting (€ 1.2m) as Revenues 111.9 123.4 well as by increased product development Own work capitalised 2.6 4.7 • Increase in staff of ~10%
Slide 12: Below EBITDA Items
Below EBITDA Items Comments Q1 2017 Q1 2018 (in €m) • Includes € 1.6m of extraordinary income for the sale of the trade mark JobScout24 CH Ordinary operating EBITDA 56.5 63.7 • Includes expenses of € 2.0m for share-based Non-operating items (3.2) (2.9) compensation, € 1.2m for PMI related activities
Slide 13: Capital structure
Capital structure Strong deleveraging profile and low interest margins supporting dividend payment Margin ratchet thresholds Increase of financial liabilities and increase in ordinary operating EBITDA due to Leverage Margin1 the adoption of IFRS 16 result in net increase of the leverage ratio of 0
Slide 14: Outlook Full Year 2018
Outlook Full Year 2018 Reiterating full year outlook Adopted for IFRS 15 Revenue ordinary operating EBITDA margin IFRS 16 ImmobilienScout24 4.0% to 6.0% growth ImmobilienScout24 At least 68.0% AutoScout24 At least €180.5m AutoScout24 Around 52.0% Increase by at least one Scout24 Consumer Services Ar
Slide 15: Appendix
Appendix Q1 2018 Results Conference Call page 15
Slide 16: Adopting Revenue Guidance to Reflect New IFRS Standards Adoption
Adopting Revenue Guidance to Reflect New IFRS Standards Adoption Revenue 2017 as reported Revenue 2017 restated for IFRS 15 (in €m) (in €m) ImmobilienScout24 236.0 ImmobilienScout24 235.9 AutoScout24 162.6 AutoScout24 158.7 Scout24 Scout24 80.6 77.5 Consumer Services Consumer Services Scout24 Group
Slide 17: Adopting Margin Guidance to Reflect New IFRS Standards Adoption
Adopting Margin Guidance to Reflect New IFRS Standards Adoption Pro-forma figures only, reporting Ordinary operating EBITDA and margin 2017 will not be Ordinary operating EBITDA 2017 restated as reported pro-forma adjusted for IFRS 16 (in €m) ImmobilienScout24 157.5 66.7% ImmobilienScout24 160.4 Aut
Slide 18: ImmobilienScout24: Historical data adjusted to new disclosure
ImmobilienScout24: Historical data adjusted to new disclosure, 2017 adjusted for IFRS 15 ImmobilienScout24 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 (in €m) 2016 2016 2016 2016 2017 2017 2017 2017 Revenue with Residential real estate 27.9 28.0 28.1 28.2 27.7 28.4 28.6 28.9 partners Revenue with Business real estate 1
Slide 19: AutoScout24: Historical data adjusted to new disclosure
AutoScout24: Historical data adjusted to new disclosure, 2017 adjusted for IFRS 15 AutoScout24 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 (in €m) 2016 2016 2016 2016 2017 2017 2017 2017 Revenue with Dealers Germany 13.6 13.9 14.4 15.6 16.3 16.7 17.1 17.8 Revenue with Dealers in European Core 11.4 13.1 13.1 13.3 14.0 1
Slide 20: Scout24 Consumer Services: Historical data adjusted to new disclosure
Scout24 Consumer Services: Historical data adjusted to new disclosure, 2017 adjusted for IFRS 15 Consumer Services Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 (in €m) 2016 2016 2016 2016 2017 2017 2017 2017 Revenue with Finance Partners 8.3 8.7 8.4 8.9 8.9 10.3 9.7 10.5 Services revenue 5.0 4.9 5.4 4.8 6.0 5.6 6.2 5.8
Slide 21: Reconciliation Adjusted Earnings
Reconciliation Adjusted Earnings (€ millions) Q1 2017 Q1 2018 Earnings before Tax 36.6 40.6 Add back non-operating items 3.2 2.9 Add back D&A on PPA items 10.2 9.0 Add back extraordinary finance expense/ income and (1.3) (0.9) effects from derivative instruments Adjusted Earnings before Tax 48.7 51.
Slide 22: Income Statement
Income Statement Q1 2018 Q1 2017 (EUR '000) Revenues 123,403 111,883 Own work capitalised 4,673 2,559 Other operating income 1,949 197 Total operating performance 130,024 114,639 Personnel expenses (30,860) (28,361) Advertising expenses (16,121) (13,870) IT expenses (4,871) (3,823) Other operating e
Slide 23: Balance Sheet 1/2
Balance Sheet 1/2 Assets 31/03/2018 31/12/2017 (EUR '000) Current assets 124,190 115,275 Cash and cash equivalents 58,002 56,659 Trade receivables 49,588 47,432 Financial assets 910 1,075 Income tax receivables 3,038 2,653 Other assets 12,653 7,456 Non-current assets 2,057,917 2,025,188 Goodwill 836
Slide 24: Balance Sheet 2/2
Balance Sheet 2/2 Equity and liabilities 31/03/2018 31/12/2017 (EUR '000) Current liabilities 146,879 159,194 Trade payables 22,276 22,224 Financial liabilities 57,985 79,511 Other provisions 7,603 6,889 Income tax liabilities 17,211 12,843 Contract liabilities 9,578 9,168 Other liabilities 32,227 2
Slide 25: Cash Flow Statement 1/2
Cash Flow Statement 1/2 (EUR '000) 01/01/17 - 03/31/17 01/01/18 - 03/31/18 Earnings after tax 30,219 24,233 Depreciation. amortisation and impairment losses 15,606 14,419 Income tax expense/(income) 10,424 12,374 Financial income 1 (1,000) (1,323) Financial expenses 1 5,564 3,539 Result from investm
Slide 26: Cash Flow Statement 2/2
Cash Flow Statement 2/2 (EUR millions) 01/01/17 - 03/31/17 01/01/18 - 03/31/18 Cash flow from investing activities (6,586) (4,262) Repayment of short-term financial liabilities (31,481) (44) Drawing down of medium- and long-term financial liabilities 215,000 - Repayment of medium- and long-term fina
Slide 27: IR Contact details and financial calendar
IR Contact details and financial calendar Financial Calendar (expected) Full year report Thursday Annual General Meeting report.scout24.com/2017 21 June 2017 Monday Half Year Report 2018 CSR Report 13 August 2017 csrbericht.scout24.com/en Wednesday Interim Report Q3 2018 7 November 2017 http://www.s