Slide 1: Q3 2019 Results Conference Call
SCOUT24 AG | Q3 2019 Results Conference Call| November 7, 2019
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: We are well on track to reach Full Year Group guidance
We are well on track to reach Full Year Group guidance STRONG 9M REVENUE GROWTH AND PROFITABILITY in €m +13.7% l-f-l1 +12.7% l-f-l1 +10.5% +16.6% l-f-l1 +18.3% +14.4% 456 236 219 214 191 386 55.4% 51.8% 89.4% 92.6% 51.3% 89.1% 9M 2018 9M 2019 9M 2018 9M 2019 9M 2018 9M 2019 Group Revenues Group ordi
Slide 4: Q3 with decelerating revenue dynamics for IS24 & CS
Q3 with decelerating revenue dynamics for IS24 & CS STRONG PROFITABILITY THROUGH HIGH OPERATING LEVERAGE in €m +11.0% l-f-l1 +12.6% l-f-l1 +6.6% l-f-l1 +15.6% +9.8% +7.4% 156 83 76 75 71 135 55.8% 53.0% 93.9% 91.9% 52.3% 93.8% Q3 2018 Q3 2019 Q3 2018 Q3 2019 Q3 2018 Q3 2019 Group Revenues Group ordi
Slide 5: Residential remains strongest growth driver within IS24
Residential remains strongest growth driver within IS24 DECELERATING REVENUES WITH BUSINESS REAL ESTATE PARTNERS AND PRIVATE LISTERS External Revenues (in €m) +9.0% l-f-l1 +8.1% +8.7% l-f-l1 186 201 +7.9% 64 69 54 64 Contribution from 19 22 Value-Add Products 132 137 44 47 Q3 2018 Q3 2019 9M 2018 9M
Slide 6: Bestellerprinzip with 50/50 split for all federal states
Bestellerprinzip with 50/50 split for all federal states DRAFT BILL WAS PUBLISHED IN SEPTEMBER – CABINET APPROVED REFORM OF AGENT COMMISSION EARLY OCTOBER • The Grand Coalition has reached an agreement: The bill was approved by the cabinet on October 9. - There will be a split 50/50 between homesell
Slide 7: AutoScout24 is over-delivering on growth and margin
AutoScout24 is over-delivering on growth and margin RECORD MARGIN OF >60% +18.1% l-f-l1 External Revenues (in €m) +13.9% +14.6% l-f-l1 139 +11.0% 122 47 23 43 21 7 7 88 Contribution from Value-Add products 101 116 36 39 Q3 2018 Q3 2019 9M 2018 9M 2019 Ordinary operating +30.7% l-f-l1 EBITDA2 (in €m)
Slide 8: CS with strongly growing services revenues, but weaker display and financing business
CS with strongly growing services revenues, but weaker display and financing business FINANZCHECK.DE CONTINUES WITH SLIGHTLY SLOWER GROWTH +13.3% l-f-l1 External Revenues (in €m) +49.6% +10.9% l-f-l1 117 +39.8% 78 32 40 29 3 12 FZ.de Contribution 3 85 75 25 28 Q3 2018 Q3 2019 9M 2018 9M 2019 Ordinar
Slide 9: Ordinary Operating Cost reflects FZ consolidation
Ordinary Operating Cost reflects FZ consolidation (in €m) 9M 2018 9M 2019 Revenues 385.8 456.3 Own work capitalised 13.7 15.1 • Increase mainly attributable to Personnel (incl. external labour) (106.6) (125.9) consolidation of FZ.de Marketing (online & offline) (41.5) (62.0) • Reflecting migration o
Slide 10: Adjusted EPS up 11.2%, unadjusted EPS driven by stock price
Adjusted EPS up 11.2 %, un- adjusted EPS driven by stock price (in €m) 9M 2018 9M 2019 • Including personnel expenses of €30.5m (therein Ordinary operating EBITDA 213.9 236.4 €28.2m for share-based compensation) as well as €10.4m for M&A related activities. Non-operating items (18.0) (43.0) Reported
Slide 11: Reconciliation Adjusted Earnings
Reconciliation Adjusted Earnings (in €m) FY 2018 9M 2018 9M 2019 Earnings before Tax 218.5 144.5 126.9 Add back non-operating items 34.2 18.0 43.0 Add back D&A on PPA items 36.8 27.1 28.9 Add back extraordinary finance expenses / income and effects from derivative instruments1 (7.2) (7.6) 2.4 Deduct
Slide 12: We have an excellent financing structure
We have an excellent financing structure Debt structure Loan volume (€m) Current margin • Dividend payment of €68.9m in Term loan 300 1.15% September 2019 RCF I (drawn) 20 0.85% • €100m drawn from RCF II to finance RCF I (undrawn) 180 RCF II (drawn) 315 0.80% share buyback program RCF II (undrawn) 1
Slide 13: We have already returned €80.5m to our shareholders
We have already returned €80.5m to our shareholders • Up to €300 million share buyback Share buy-back Overview to Date program was announced on 19 July Period Aggregated volume Total volume 1 2019. in no. of shares (€) 2/9 – 6/9/2019 250,207 13,086,675 • At that time, this corresponded to 9/9 – 13/9
Slide 14: Well on track to achieve the Group guidance
Well on track to achieve the Group guidance Revenue growth Ordinary operating EBITDA margin (adjusted for consolidation effects, i.e. considering FINANZCHECK.de contribution for full year 2018 and not considering the contributions of deconsolidated companies AS24 Spain and classmarkets) Low- to mid-
Slide 15: Q&A
Q&A 16 page 15
Slide 16: Looking forward to seeing you at the Capital Markets Day on November 26
Looking forward to seeing you at the Capital Markets Day on November 26 Publications Quarterly statement Q3 report.scout24.com Full year report report.scout24.com CSR Report csrbericht.scout24.com/en Ursula Querette Kai Knitter Ender Gülcan Head of Director Junior Financial Analyst Investor Relation