Scout24 Se · XETR:G24
Scout24 — Shareholder Meeting (August 2019)
36 slides from Scout24's shareholder meeting presentation, Aug 30, 2019
Slide 1: Scout24 AG Annual General Meeting August 30, 2019
SCOUT24 AG | Annual General Meeting | August 30, 2019 www.scout24.com
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: Agenda of the Scout24 AG Annual General Meeting 2019
Agenda of the Scout24 AG Annual General Meeting 2019 1. Presentation of financial statements 2018 2. Appropriation of unappropriated net income 3. Formal approval of the acts (Entlastung) of the members of the Executive Board for 2018 4. Formal approval of the acts of the members of the Supervisory
Slide 4: 2018 was an eventful year…
2018 was an eventful year… June 2018 July 2018 September 2018 Acquisition of Scout24 makes the leap into the Tobias Hartmann opening a new horizon for is appointed new CEO Consumer Services of Scout24 June 2018 August 2018 December 2018 Dr. Hans-Holger Albrecht Political talks around Dr. Thomas Schr
Slide 5: … and we have a convincing performance in 2019
… and we have a convincing performance in 2019 March 2019 June 2019 August 2019 Scout24 reports FY2018 results with Dr. Dirk Schmelzer appointed CFO, Scout24 reports 1H19 results, the double-digit growth rates in new management team fully best results in the company’s revenue and earnings on-board h
Slide 6: Our strengthened management team stands for growth and value creation
Our strengthened management team stands for growth and value creation Today’s speaker Tobias Hartmann Dr. Dirk Schmelzer Ralf Weitz Dr. Thomas Schroeter Chief Executive Officer Chief Financial Officer Chief Commercial Officer Chief Product Officer 6 Scout24 AG | Annual General Meeting 2019
Slide 7: Since IPO, we have evolved from a listing business to a market network
Since IPO, we have continuously evolved from a listing business to a market network 2015 2017 2019+ Bringing offline transactions online Mortgage Moving Premium Personalised membership Offers LIFE-CHANGING LISTING MOMENTS MARKETPLACE MARKET NETWORK BUSINESS Financing Data-driven matching of needs an
Slide 8: We have built data-driven Market Networks across both our verticals
We have built data-driven Market Networks across both our verticals Partner to agents Partner to dealers Data Consumer Listings behaviour Leads Traffic CONSUMER CONSUMER SERVICES SERVICES 3rd party 3rd party OEM Car Mortgage Relocation Premium Display Consumer Display Display Finance leads leads mem
Slide 9: The management team has a clear agenda for 2019 and beyond
The management team has a clear agenda for 2019 and beyond 1 Review of company’s structure, processes and efficiency Sustainable competitive advantages 2 Strengthening of the Management Board and establishment of clear responsibilities Continuous profitable growth 3 Proactive contact and regular int
Slide 10: We are the most important marketplace for both our partners and consumers
We are the most important marketplace for both our partners and consumers – and more relevant than ever Leading Market >3 million1 Positions Active Listings 213 million The strongest revenue sessions2 of our core growth3 brands in 1st half 2019 (+9% vs. prior year) (+20% vs. H1 2018) 171 million 57%
Slide 11: We are further expanding our leading market position at ImmobilienScout24
We are further expanding our leading market position at ImmobilienScout24 ... User Partner 96 million 1.9x Sessions more listings than the (+9% vs.prior year) closest competitor +4% +16% growth in Residential Real mobile “traffic” growth Estate Partners H1 2019: 14,850 H1 2018: 14,301 ~3x +1% more t
Slide 12: … and are creating value for and together with our partners
… and are creating value for and together with our partners Increasing revenues1 Increasing ARPU1 through value-add services and products at Real Estate Partners +17.2% +5.1% Increase of the Residential Real Estate Partner revenue growth through VIA-products ARPU in 2nd quarter 2019 to €659 in June
Slide 13: Optimized service offering with regular product updates for all relevant target groups
Optimized service offering with regular product updates for all relevant target groups 1 2 3 Users / Consumers Providers / Asset owners Agents / Partners • Best offer through market leadership • Support in finding the right agent • Most efficient marketing channel • User experience: simple, appealin
Slide 14: Premium Membership: We help increase efficiency and opportunities for the user
Premium Membership: We help increase efficiency and opportunities for the user ✓Early access and information advantage ✓Convenient applicant folder for immediate sending ✓Additional advantage through immediate deposit confirmation 14 Scout24 AG | Annual General Meeting 2019
Slide 15: Home Seller Hub: We support owners in the sale process
Home Seller Hub: We support owners in the sale process 1 2 3 … that will take them to our Home Seller Hub, which … in order for the sale provides relevant background information… process to start… Activities of owners with a view to sell ... • Valuation • supported by a broker • Review of demand • t
Slide 16: Top-list-All & Image Boost: We help brokers with their branding
Top-list-All & Image Boost: We help brokers with their ImmobilienScout24 branding IMAGE and acquisition BOOST: INTEGRATED PROMOTIONS OF LOCAL AGENTS TO HOMESELLERS Results list Market Real Estate broker information directory Ender Gülcan ✓ Increased chances of sales representatives making enquiries
Slide 17: AS24 is a leading European marketplace
AS24 is a leading European marketplace 2ND Germany • Leading positions in 5 core European Markets 0.9x 1ST Netherlands • International operations 1.7x contribute to 48% of revenues2 1ST Belgium 2.2x • More than 2.5m of 1ST Austria listings3 1.5x 1ST Italy • Highest l-f-l YoY revenue growth of 20% in
Slide 18: We are the strong number 2 in the German car classifieds market…
We are the strong number 2 in the German car classifieds market… Partner Dealers1 Dealer Listings2 Visits3 -16.2% -0.4% +8% Reduction of partner dealers Decrease in listings Increase in sessions from 26,752 at end of June 2018 from 964k at end of June 2018 from 50m in H1 2018 to 22,413 at end of Jun
Slide 19: … and have maintained our leading market positions in European countries…
… and have maintained our leading market positions in European countries… Partner Dealers1 Dealer Listings2 Visits3 -1.3% +4.3% +9% Reduced partner dealers Increase in listings Increase in sessions from 22,013 at end of June 2018 from 950k at end of June 2018 from 52m in H1 2018 to 21,717 at end of
Slide 20: … and provide significant value-add
… and provide significant value-add Increasing revenue1 Increasing ARPU1 from value-added services and products with partner dealers +16.0% +44.6% Increase of ARPU Revenue increase with MIA products with German partner dealers in Q2 2019 to €326 in H1 2019 (17.8% revenue share) +20.6% Increase of AR
Slide 21: Direct sale: The fastest way to sell your car
Direct sale: The fastest way to sell your car 1 Four steps to sell your car 2 1 3 Indicative online valuation 4 2 Neutral car check at convenient location 3 Directly receive offers “Direct sales provide the seller with the certainty that they will transact with an honest buyer since AS24 Partners ar
Slide 22: Online purchase from AS24: Maximum digitisation level
Online purchase from AS24: Maximum digitisation level 1 2 3 4 5 6 AS24 makes …with all relevant …through effective …offering a range …from certified …in a secure and purchasing cars information at communication of brands… partners… transparent way. easy… hand… channels… • New, used and rental cars •
Slide 23: We focus on long-term value creation
We focus on long-term value creation 1 ✓ • Comprehensive review of company’s status quo – Structure – Processes 2 ✓ • Definition of strategic roadmap for long-term value creation 3 ✓• Strengthening of Management Board and establishment of clear responsibilities 4 • Continuous implementation of strat
Slide 24: Financial results Fiscal year 2018 and H1 2019
Financial results Fiscal year 2018 and H1 2019
Slide 25: Again strong revenue growth paired with high earnings power in Fiscal Year 2018
Strongstrong Again revenue revenue growthgrowth pairedpaired with high withprofitability high earningsin poweryear Fiscal in Fiscal 2018Year 2018 +12.5% +48.3% +12.5% 532 1,53 1,58 473 1,40 +15.3% 1,03 291 253 53.5% 54.8% 20171 2018 20171 2018 20171 2018 20171 2018 Group revenue Group ordinary opera
Slide 26: Fiscal year 2018 ImmobilienScout24
Fiscal year 2018 ImmobilienScout24 • Forecast for 2018 fully met • Number of real estate partners increased by 8% • Low customer churn as well as high customer recovery and +6% +8% acquisitions €250m €170m Revenue Ordinary operating EBITDA • Listing advantage over competitors further increased • Pro
Slide 27: Fiscal year 2018 AutoScout24
Fiscal year 2018 AutoScout24 • Revenue forecast for 2018 fully met, profit forecast exceeded • Focus of sales force on medium to large customers • Consolidated market positions +14% +27% in Germany and Europe €181m €97m Revenue Ordinary operating EBITDA • Profitability1 at 54% 1) Profitability as or
Slide 28: Fiscal year 2018 Consumer Services
Fiscal year 2018 Consumer Services • Forecast for 2018 exceeded • All activities related to services along the value chain of the Bank I real estate and automotive markets Bank II • Includes FINANZCHECK.de from September 2018 onwards • Profitability1 at 32% +29% +12% €100m €32m Revenue* Ordinary ope
Slide 29: Operating expenses increased disproportionately to sales due to non-recurring items
Operating expenses increased disproportionately to sales due to non-recurring items +14.3% 134 117 +17.9% 101 86 +15.0% 61 53 +71.0% Personnel 34 expenses 25% 25% 11% 12% 18% 19% 20 Other non- 19 operating 14 expenses 6 16 2017 2018 2017 2018 2017 2018 2017 2018 Personnel expenses Marketing expenses
Slide 30: Reconciliation from group revenue to ordinary operating EBITDA
Reconciliation from group revenue to ordinary operating EBITDA (in €m) 2017 2018 Group revenue 472.6 531.7 Own work capitalised 15.1 18.6 Other operating income 1.1 2.8 Total operating performance 488.7 553.2 Operating expenses -255.9 -295.9 EBITDA 232.8 257.3 Thereof non-operating and special effec
Slide 31: High financial strength and liquidity due to high profitability
High financial strength and liquidity due to high profitability (in €m) 2017 2018 Earnings after tax 110.9 164.4 Cash flow from operating activities 164.2 207.5 Cash flow from investing activities -43.5 -294.1 Cash flow from financing activities -107.5 88.3 Cash and cash equivalents 56.7 58.4 31 Sco
Slide 32: Increase in total assets driven mainly by FINANZCHECK acquisition
Increase in total assets driven mainly by FINANZCHECK acquisition (in €m) 31/12/2017 31/12/2018 Total assets 2,140.5 2,464.7 Non-current assets 2,025.2 2,295.8 Current assets 115.3 168.9 Current liabilities 159.2 148.0 Non-current liabilities 915.8 1,143.9 Equity 1,065.5 1,172.8 Equity ratio 49.9% 4
Slide 33: We propose an increased dividend of €0.64 per share
We let our shareholders take part in the success and propose an increased dividend of €0.64 per share Dividend evolution in € per share +14% +87% 0,64 0,56 A dividend of €0.64 per share corresponds to: • a payout of €68.9m (previous year €60.3m) • 41% of adjusted earnings per share 0,30 (previous ye
Slide 34: In the first half of 2019, we continued to grow strongly and improve margins
In the first half of 2019, we continued to grow strongly and improve margins +19.7% In % of L-f-l +13.6% revenue (organic3): 57.3% +12.0% 301 +10.9% 0,84 251 -22.6% 0,75 L-f-l +14.4% 0,62 154 0,48 139 50.8% 51.2% 55.2% H1 2018 H1 2019 H1 2018 H1 2019 H1 2018 H1 2019 H1 2018 H1 2019 Group revenue Gro
Slide 35: Scout24 share price outperformed MDAX by 36%-points in 2018
Scout24 share price outperformed MDAX by 36%- points1 in 2018 Share price2 in € AGM 2019 29/08/20193 55,00 53.25€ 50,00 45,00 40,00 35,00 30,00 25,00 Jan 18 Feb 18 Mrz 18 Apr 18 Mai 18 Jun 18 Jul 18 Aug 18 Sep 18 Okt 18 Nov 18 Dez 18 Scout24 share price MDAX index, re-based to Scout24 share price as
Slide 36: We are well on track to achieve our 2019 targets
We are well on track to achieve our 2019 targets Revenue growth1 Ordinary operating EBITDA margin 9.0% to 11.0% ImmobilienScout24 ImmobilienScout24 Up to 70.0% reported 8.0% to 10.0% 12.0% to 14.0% AutoScout24 AutoScout24 Up to 54.0% reported 9.0% to 11.0% 15.0% to 17.0% Scout24 Consumer Services Sc