Scout24 Se · XETR:G24
Scout24 — Q3 2026 Earnings Presentation
31 slides from Scout24's earnings presentation, Nov 4, 2026
Slide 1: Q3/9M 2026 Results Presentation
o c k i n g Un l t i a l P o t e n n e w Q3/9M 2026 Results Presentation 4 November 2026
Slide 2: Disclaimer
Disclaimer This presentation does not constitute an offer or invitation to sell or issue securities of the Company, nor should it be construed as an offer or invitation to purchase or subscribe for securities of the Company, nor should any part of it or the fact of its distribution be construed as p
Slide 3: Business & Market Update
Business & Market Update 3 Q3/9M 2026 Results | November 2026
Slide 4: Q3/9M 2026 Highlights
Q3/9M 2026 Highlights YoY growth, Q3 2026 Strong Q3 performance: Revenue increased by 19.7% and 10.1% organically, alongside accelerating ooEBITDA and adjusted EPS growth. Revenue Broad-based growth across product portfolio: Balanced contributions from +19.7% B2B and B2C subscriptions, Transaction E
Slide 5: B2B customer growth remains strong, while sequential growth in the B2C subscriber base accelerates
B2B customer growth remains strong, while sequential growth in the B2C subscriber base accelerates Avg. number of professional customers (GER) in k Avg. number of private customers in k 2022 2023 2024 2025 Q3/2026 2022 2023 2024 2025 Q3/2026 Q3/2025 Q4/2025 Q1/2026 Q2/2026 Q3/2026 Q3/2025 Q4/2025 Q1
Slide 6: Sales market remains resilient despite higher interest rates, while rental enquiries pick up
Sales market remains resilient despite higher interest rates, while rental enquiries pick up Scout24 Transaction Momentum¹ 179 and Listings² Index 91 Contact request to agents³ 152 109 1 Index includes residential as well as commercial transactions, and is derived from various data sources and propr
Slide 7: Asking prices have edged higher in 2026, while transaction prices remain flat as mortgage rates rise
Asking prices have edged higher in 2026, while transaction prices remain flat as mortgage rates rise Transaction prices ● Asking prices ● Transaction prices Germany, apartments and single-family homes, indexed ±0% Sep 2025 – Sep 2026: flat Sept. 2026 vs. Sept. 2025 Mortgage rates (10-yr fixed) +70 b
Slide 8: AgenticOS execution gains momentum
AgenticOS execution gains momentum Strong platform engagement with accelerating 01 AI adoption Exclusive content and AI-powered services 02 accelerate B2C growth Propstack becoming CRM of choice for German 03 agents, with Proppi adding an agentic layer ImmoPoints expands usage-based monetisation 04
Slide 9: Stable user numbers, deeper engagement and rising search activity, with lead volumes up 8%
01 We are seeing stable user numbers, deeper engagement and rising search activity, with lead volumes up 8% versus Q2 2026 Monthly users Search requests in million +3.5% YoY 19m -1% YoY Q3 2026 average Registered accounts Saved searches Total lead volume +17% YoY +5% YoY +8% September 2026 September
Slide 10: Scout24's AI-powered search grows strongly year-on-year, reaching 2.5% of total search requests
01 Scout24´s AI-powered search grows strongly year-on-year, reaching 2.5% of total search requests AI-powered search requests on IS24, Q3 2026 #1 on ChatGPT >10m ● ImmoScout24 ● Next best in category Visibility, weekly +26x YoY growth #1 on Google AI Overviews ● ImmoScout24 ● Next best in category V
Slide 11: B2C subscription revenue growth accelerates further, driven by increasing adoption of premium memberships
02 B2C subscription revenue growth accelerates further, driven by increasing adoption of premium memberships 40% 4× 5% +4pp in higher-value memberships more viewing invitations of total rent leads via Unlimited subscription share with Unlimited AI Application Assistant Unlimited AI Application vs. Q
Slide 12: Propstack growth also accelerating as Proppi brings agentic AI into everyday workflows
03 Propstack growth also accelerating as Proppi brings agentic AI into everyday workflows Propstack revenue growth (% y-o-y) Three-layer workflow Proppi in daily work Answers. Thinks along. Acts. Start prepared Emails, notes and tasks in one briefing Communicate smarter CRM-powered email drafts, rea
Slide 13: ImmoPoints revenue grows 37% y-o-y as usage-based monetisation expands
04 ImmoPoints revenue grows 37% y-o-y as usage-based monetisation expands across the ecosystem Scaling usage-based monetisation EUR 3.4m >10k ImmoPoints can be used for a growing range of products in our ecosystem Listing visibility +37% YoY +41% YoY Panorama, Rotation, Push Me Up Revenue in Septemb
Slide 14: AgenticOS will deliver the best real estate experience, while remaining open to external AI agents
05 We believe our AgenticOS will deliver the best real estate experience, while remaining open to external AI agents ChatGPT dots Agent factory Meta Muse Claude Duet Perplexity Computer Gemini Tasks HeyImmo Scout24 competitive moats Verified unique data Trusted Platform Transaction Backend Exclusive
Slide 15: Financial Update
Financial Update 15 Q3/9M 2026 Results | November 2026
Slide 16: Financial Metrics Dashboard
Financial Metrics Dashboard Revenue EUR m ooEBITDA EUR m +19.7% +17.9% +15.9% +15.1% 62.9% -2.0pp 60.9% 61.9% -1.5pp 60.4% ooEBITDA margin in % Adjusted EPS EUR Operating cash flow EUR m +21.5% +19.7% -19.6% +16.5% Excluding LTIP settlements and Sprengnetter acquisition 16 Q3/9M 2026 Results | Novem
Slide 17: Professional: Subscription revenues continue to grow strongly, complemented by accelerating Transaction Enablement
Professional: Subscription revenues continue to grow strongly, complemented by accelerating growth in Transaction Enablement Professional subscriptions continue to grow strongly, supported by customer additions and higher ARPU in Germany. EUR m Q3 2026 Q3 2025 Change 9M 2026 9M 2025 Change Professio
Slide 18: Momentum building in Spain as key metrics improve
Momentum building in Spain as key metrics improve Spain · Q3 2026 Growth reaccelerating EUR 15.8m Revenue up 2% from EUR 15.5m in Q2 Profitability improving 34.2% ooEBITDA margin Q3 2026 Customer base expanding +2.4% Professional customers end June to end September Record lead volume +14% Leads (Fot
Slide 19: Private segment: Subscription revenue growth accelerates to double-digits in 3Q
Private segment: Subscription revenue growth accelerates to double-digits in 3Q Private delivered its strongest revenue growth of the year at 10.5%, with broad- based contributions from subscriptions EUR m Q3 2026 Q3 2025 Change 9M 2026 9M 2025 Change and Pay-per-Ad. Private revenue 51.6 46.7 +10.5
Slide 20: Slower cost growth and improving profitability in Spain support sequential margin expansion to 60.9%
Slower cost growth and improving profitability in Spain support sequential margin expansion to 60.9% Personnel and marketing (two largest cost categories) declined vs. Q2, helping slow year-on-year operating cost EUR m Q3 2026 Q3 2025 Change 9M 2026 9M 2025 Change growth, driving sequential margin R
Slide 21: Building our AI-native organisation is gaining momentum, supporting lower personnel costs
Building our AI-native organisation is gaining momentum, supporting lower personnel costs AI efficiency priorities Organic personnel cost development Change y-o-y 1 Build faster and more Q2 2026 Q3 2026 Q4 2026 2027–2028 Expansion of coding capacity due to AI coding agent -2.2% Further y-o-y 2 -7.0%
Slide 22: Adjusted EPS growth accelerates to 21.5%, supported by strong operating performance and buybacks
Adjusted EPS growth accelerates to 21.5%, supported by strong operating performance and buybacks Non-operating effects declined EUR m Q3 2026 Q3 2025 Change 9M 2026 9M 2025 Change significantly year-on-year, ooEBITDA 120.8 104.2 +15.9 % 344.7 299.6 +15.1% supporting reported earnings growth (details
Slide 23: Lower share-based compensation and M&A expenses improve non-operating effects
Lower share-based compensation and M&A expenses improve non-operating effects Non-operating effects were significantly lower y-o-y. SBC contributed a positive EUR 1.7m EUR 2.90 EUR 3.06 effect in 9M, mainly reflecting the lower share price (9M 2025: EUR - Reported EPS Adjusted EPS 23.1m); lower M&A
Slide 24: Free cash flow remains strong, excluding LTIP settlements and the 25% Sprengnetter stake payment
Free cash flow remains strong, excluding LTIP settlements and the 25% Sprengnetter stake payment Free cash flow bridge EUR m EUR 55.3m including: EUR 27.2m LTIP settlements EUR 23.5m Sprengnetter acquisition1 Free cash flow development EUR m Free cash flow conversion ratios for 9M 2026 -25.3% +14.6%
Slide 25: Balance sheet remains strong while supporting shareholder returns and strategic M&A
Balance sheet remains strong while supporting shareholder returns and strategic M&A Leverage increase driven by shareholder Fotocasa and returns and strategic M&A Net debt, EUR m Sprengnetter Leverage1 Net debt / ooEBITDA LTM 25 Q3/9M 2026 Results | November 2026 1 Leverage = Net Debt / ooEBITDA LTM
Slide 26: Accelerating buybacks at historically low multiples, confident in delivering our targets
Accelerating buybacks at historically low multiples, confident in delivering our targets 01 What we deployed in 2026 02 Why we do it 03 Impact for shareholders Increased buybacks support adjusted EPS growth Share buybacks Value creation EUR 292m Buybacks funded at a pre-tax cost of debt of about 4%
Slide 27: FY 2026 revenue guidance specified to c. 18%; profitability targets reaffirmed
FY 2026 revenue guidance specified to c. 18%; profitability targets reaffirmed Revenue growth of c. 18% thereof Spain / M&A 7-8pp ooEBITDA margin up to 61% organic ooEBITDA margin up to 64% 27 Q3/9M 2026 Results | November 2026
Slide 28: Key takeaways
Key takeaways 01 02 Delivering consistent double digit revenue growth and Further customer growth across B2B and B2C margin expansion while executing Agentic OS 03 04 AI-powered products drive growth and ARPU AgenticOS positions Scout24 as agent-friendly for the “AI- first world” – with our own AI a
Slide 29: Q&A
Q&A 29 Q3/9M 2026 Results | November 2026
Slide 30: Preliminary Q4/FY 2026 results 25 February 2027
Preliminary Q4/FY 2026 results 25 February 2027 Filip Lindvall – Vice President Group Strategy & Investor Relations ir@scout24.com
Slide 31: Appendix
Appendix 9M 2026 9M 2026 y-o-y thereof thereof thereof EUR m 9M 2026 organic Spain1 Total organic 2 Total operating cost3 245.3 214.6 30.7 +23.4 % +8.0 % Personnel Costs 94.7 82.7 12.0 +9.1 % -4.7 % Marketing 49.3 41.2 8.1 +45.0 % +21.1 % IT Costs 23.4 18.8 4.5 +38.6 % +11.7 % Purchasing Costs 39.7