Scout24 closed in the third quarter with double-digit sales growth, mainly thanks to Immobilienscout24's good performance.
The administration has confirmed the provision for the financial year 2018.
In the quarter to end of September, the Munich-based online market focused on real estate and cars increased its operating result (EBITDA) just under one fifth to 75.1 million euros, more than expected in the market . The EBITDA margin from routine business improved to 55.8% from 52.9% in the previous year.
Turnover increased, excluding Finanzcheck.de, by 10.8% to 131.3 million euros. Including the financial portals, sales amounted to € 134.6 million.
The MDAX-listed Scout24 AG is in full swing to meet its annual targets for 2018, he said. Finanzcheck.de was well on track to achieve the projected sales contribution of around € 12 million by the end of the year. The integration of the product into the Scout24 network has made significant progress, the company noted.
In the Group, in 2018 an increase in organic revenue is expected to be between 9.0 and 11.0%. Including Finanzcheck.de should be 11.5 to 13.5 percent. The EBITDA margin from routine activities is expected to be organic from 56.0 to 57.5%. As a negative EBITDA contribution to the low single-digit millions for Finanzcheck.de is expected, the line for the EBITDA margin is lower than 54.5 to 56.0%.
FRANKFURT (Dow Jones)