Investor Presentation • May 3, 2022
Investor Presentation
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Tobias Hartmann (CEO) Dirk Schmelzer (CFO)
Analyst Call, 3 May 2022 | © Scout24 Investor Relations
1
This document has been issued by Scout24 SE (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 subscribe for, any securities of the Company, nor shall any part of it nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision, nor does it constitute a recommendation regarding the securities of the Company or any present or future member of the Group.
All information contained herein has been carefully prepared. However, no reliance may be placed for any purposes whatsoever on the information contained in this document or on its completeness. No representation or warranty, express or implied, is given by or on behalf of the Company or any of its directors, officers or employees or any other person as to the accuracy or completeness of the information or opinions contained in this document and no liability whatsoever is accepted by the Company or any of its directors, officers or employees nor any other person for any loss howsoever arising, directly or indirectly, from any use of such information or opinions or otherwise arising in connection therewith.
The information contained in this presentation is subject to amendment, revision and updating. Certain statements, beliefs and opinions in this document are forward-looking, which reflect the Company's or, as appropriate, senior management's current expectations and projections about future events. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. Statements contained in this document regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The Company does not undertake any obligation to update or revise any information contained in this presentation (including forward-looking statements), whether as a result of new information, future events or otherwise. You should not place undue reliance on forward-looking statements, which speak only as of the date of this document.
This document is not an offer of securities for sale in the United States of America. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Neither this document nor any copy of it may be taken or transmitted into the United States of America, its territories or possessions or distributed, directly or indirectly, in the United States of America, its territories or possessions or to any US person.
By attending, reviewing or consulting the presentation to which this document relates or by accepting this document you will be taken to have represented, warranted and undertaken that you have read and agree to comply with the contents of this notice.
Nothing in this document constitutes tax advice. Persons should seek tax advice from their own consultants or advisors when making investment decisions.
The Q1 2022 figures contained in this document were neither audited in accordance with §317 HGB nor reviewed by an auditor.
Professional segment performance driven by strong growth in subscriptions and ARPU
| (€m) | Q1 2022 | Q1 2021 | +/- |
|---|---|---|---|
| Professional Segment Revenue | 71.4 | 63.8 | +11.8% |
| of which Subscriptions | 64.0 | 57.4 | +11.5% |
| thereof Membership | 52.7 | 49.9 | +5.6% |
| thereof Seller Leads | 11.3 | 7.5 | +51.0% |
| Customers (period # average) |
20 854 , |
20 191 , |
+3 3% |
| Resulting (in ARPU €) |
1 023 0 , |
947 0 |
+8 0% |
| of which PPA | 2.9 | 2.9 | -0.1% |
| of which Other (Mortgage) | 4.4 | 3.5 | +26.4% |
| ooEBITDA Professional Segment |
42.8 | 41.8 | +2.6% |
| ooEBITDA Margin |
60.0% | 65.4% | -5.4pp |
Strong core business growth through a combination of customer growth, rate card and product upgrades
Seller Leads growth driven by top-of-funnel and in-funnel growth
Mortgage growth fueled by improved lead quality
| (€m) | Q1 2022 | Q1 2021 | +/- |
|---|---|---|---|
| Private Segment Revenue | 28.2 | 22.2 | +27.0% |
| of which Subscriptions | 13.8 | 7.8 | +76.6% |
| Customers (period # average) |
283 744 , |
152 076 , |
+86 6% |
| Resulting (in €) ARPU |
16 2 |
17 1 |
-5 3% |
| of which PPA | 8.9 | 8.8 | +1.3% |
| of which Other (Schufa, RRI) | 5.5 | 5.6 | -1.7% |
| ooEBITDA Private Segment |
13.4 | 10.6 | +26.2% |
| ooEBITDA Margin |
47.4% | 47.7% | -0.3pp |
Strong increase in paying subscription customers with longer durations leading to dynamic growth in subscription revenue
ARPU decrease resulting from higher CLV
| (€m) | Q1 2022 | Q1 2021 | +/- |
|---|---|---|---|
| Revenues | 107.9 | 93.8 | +15.1% |
| Own work capitalised | 7.3 | 5.6 | +29.9% |
| Personnel costs |
-22.3 | -20.1 | +10.8% |
| Marketing costs | -13.7 | -8.0 | +69.8% |
| IT costs | -5.3 | -3.9 | +35.3% |
| Selling costs | -6.8 | -6.0 | +12.0% |
| Other operating costs | -8.5 | -6.2 | +37.2% |
| Total operating effects | 56.5 | 44.3 | +27.5% |
| ooEBITDA | 58.6 | 55.1 | +6.5% |
| margin ooEBITDA |
4% 54 |
58 7% |
-4 4pp |
| (€m) | Q1 2022 | Q1 2021 | +/- |
|---|---|---|---|
| Ordinary operating EBITDA | 58.6 | 55.1 | +6.5% |
| Non-operating effects | -5.0 | -2.8 | +82.1% |
| Reported EBITDA | 53.6 | 52.3 | +2.5% |
| D&A | -7.5 | -13.3 | -43.3% |
| EBIT | 46.1 | 39.0 | +18.2% |
| Financial result | -16.6 | -3.6 | -363.1% |
| Earnings before Tax | 29.4 | 35.4 | -16.8% |
| Taxes on Income | -9.3 | -10.9 | -14.9% |
| Net income | 20.1 | 24.4 | -17.7% |
| Basic EPS in € (undiluted) |
0 25 |
0 25 |
-0 3% |
| Adjusted EPS in € |
0 44 |
0 34 |
+29 1% |
| Weighted # shares (million) av |
80 7 |
97 8 |
-17 5% |
1) Scout24 dividend policy: distribute 30-50% of adjusted net income.. Proposed total distribution of €67.1m / 50.3% for FY2021 at upper end of range.
2) The final amount of the dividend per share for FY2021 depends on further share buybacks in the run-up to the Annual General Meeting on 30 June 2022
12 Q1 2022 Results | May 2022
Scout24 Sustainalytics rating has improved from 17.8 to 14.1 points1 after publication of sustainability report 2021
| Revenue growth |
Professional | 10-12% |
|---|---|---|
| Private | 12-14% | |
| Media & Other | 12-14% | |
| Scout24 Group | 11-12% |
Ordinary operating EBITDA
| Scout 24 Group - Growth |
6-8% |
|---|---|
AGM 2022: 30 June 2022 Q2/H1 2022 results: 9 August 2022 3pm
Ursula Querette - Head of Investor Relations & Treasury Tel +49 89 262 02 4939 | [email protected]
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