In This Article:
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Revenue Growth: 11.2% increase for the full year 2024, reaching EUR566.3 million.
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Ordinary Operating EBITDA: EUR348.1 million, up 14.5%, with a margin of 61.5%.
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Adjusted EPS: Increased by 15.0% for the full year.
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Free Cash Flow: EUR223.2 million, growing 34% year-on-year.
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Professional Segment Revenue: Grew by 9.6% in Q4, totaling EUR106.2 million.
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Private Segment Revenue: Achieved 13.7% growth in Q4, reaching EUR40.5 million.
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Subscriber Growth: Private subscription base increased by 24.5% in Q4, reaching 470,000 customers.
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Operating Cash Flow: EUR257 million, up 27.9% year-on-year.
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ARPU in Professional Segment: Increased by 7% in 2024, from EUR935 to EUR1,001.
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Ordinary Operating EBITDA Margin Expansion: 180 basis points for the full year.
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Leverage: Slight increase to 0.47 after acquisition activities.
Release Date: February 27, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Scout24 SE (XTER:G24) achieved a 11.2% revenue growth in 2024, marking the fourth consecutive year of double-digit revenue growth.
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The company reported a strong ordinary operating EBITDA margin of 61.5%, with a 180 basis point expansion year-on-year.
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Free cash flow generation was robust, reaching EUR223.2 million, a 34% increase year-on-year, representing a 105% conversion of adjusted net income.
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The B2B customer base surpassed 25,000, and the private subscription business saw a 24.5% increase in subscribers, reaching 470,000.
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Scout24 SE (XTER:G24) anticipates revenue growth acceleration in 2025, projecting a range of 12% to 14% with continued EBITDA margin expansion.
Negative Points
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Demand for mortgage leads remains muted despite a recovery in seller leads.
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The German real estate market is still far from pre-2022 transaction levels due to higher interest rates.
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Operating expenses increased by 5.6% in 2024, driven by an 8% rise in personnel costs.
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The financial result decreased due to increased expenses from the subsequent measurement of purchase price liabilities.
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Reported net income for the fourth quarter decreased by 26.7%, and for the full year, it decreased by 9.3%.
Q & A Highlights
Q: Can you provide details on the price increase for professional customers in 2025 and the migration to new membership tiers? A: Dirk Schmelzer, CFO, explained that the price increase was in the mid- to high single-digit range, and they are pleased with the market response. About half of the customer base has migrated to the new membership tiers, and they are convincing agents of the value rather than forcing migration.