Scout24 AG

Investor Presentation • Aug 8, 2023

Making a

difference

Analyst Call – Results for H1/Q2 2023 8 August 2023

Disclaimer

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.

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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.

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The Q2 2023 figures contained in this document were neither audited in accordance with §317 HGB nor reviewed by an auditor.

Continued growth momentum in H1 2023 leads to upgrade of full year guidance

Strong revenue growth of 12% for H1 2023 despite overall challenging market environment

Growth continues to be fuelled by customer wins and strong demand for IS24 core products

Operating leverage translates into strong increase of ooEBITDA by 21% in H1 2023 (60% margin)

Strong EPS growth: adjusted EPS up 37% (€1.23)

Completed strategic acquisition of Sprengnetter

Upgrading full year 2023 guidance: revenue growth of c. 15% and ooEBITDA growth of 18 - 19%

Q2 2023 performance driven by continued strong revenue growth across the core product portfolio and significant operating leverage

Strong H1 2023 across the board

Membership and private revenues with continued strong growth in H1 2023 We expect Seller Leads and Mortgage business to return to growth in Q3 2023

Remainder of revenues generated in: Professional: PPA, Private: PPA + Other

With our much-enlarged customer base…

Professional agents on our platform

Buyer+ and Rent+ subscribers

7 H1/Q2 2023 Results | 08/2023

…we are taking our platform to the next level

Revenue growth and significant increase in ooEBITDA margin across all segments in H1 2023

8 H1/Q2 2023 Results | 08/2023

Membership business continues to drive growth in the Professional Segment; increased profitability due to operating leverage

(€m)	Q2 2023	Q2 2022	+/-	H1 2023	H1 2022	+/-
Professional revenue	77.4	71.5	+8.3%	155.4	142.8	+8.8%
of which subscriptions	70.2	63.5	+10.5%	141.0	127.5	+10.6%
thereof membership	62.7	54.2	+15.7%	124.1	106.9	+16.1%
thereof seller leads	7.4	9.3	-20.1%	16.9	20.6	-18.2%
Customers (period # average)	21 835 ,	20 947 ,	2% +4	21 769 ,	20 901 ,	2% +4
Resulting (in €) ARPU	1,071	1,011	+6.0%	1,080	1,017	+6.2%
of which PPA	3.9	3.6	+5.8%	7.5	6.6	+13.5%
of which Other (Mortgage)	3.4	4.3	-21.5%	6.9	8.7	-20.6%
Professional ooEBITDA	54.6	43.6	+25.2%	103.0	86.4	+19.1%
Professional ooEBITDA margin	70.5%	61.0%	+9.5pp	66.2%	60.5%	+5.7pp

Growth driven by a combination of customer growth, list price adjustments and upgrades to higher-value memberships

Seller leads & Mortgage impacted by muted customer demand. We expect Q2 2023 to represent low point

PPA growth slowdown due to customer membership migration

ooEBITDA margin increase due to product mix and operating leverage

Private segment growth driven by continued strong subscriber and PPA growth

(€m)	Q2 2023	Q2 2022	+/-	H1 2023	H1 2022	+/-
Private revenue	35.5	29.6	+20.2%	70.4	57.7	+21.9%
of which subscriptions	17.2	14.8	+16.8%	34.3	28.5	+20.1%
(period # Customers average)	342 661 ,	297 089 ,	+15 3%	342 349 ,	290 416 ,	+17 9%
Resulting (in ARPU €)	16 8	16 6	+1 2%	16 7	16 4	+1 8%
of which PPA	12.9	10.1	+27.1%	24.7	19.1	+29.5%
of which Other (Schufa, RRI)	5.4	4.7	+16.3%	11.4	10.1	+12.9%
Private ooEBITDA	19.4	15.4	+25.9%	35.7	28.8	+24.2%
Private ooEBITDA margin	54.6%	52.2%	+2.5pp	50.8%	49.8%	+0.9pp

Subscriptions growth continues to be driven by new customers

Strong PPA growth fuelled by listing growth and price increases

ooEBITDA margin increased due to operating leverage

H1 2023 ooEBITDA margin reached 60% fuelled by favourable product mix and operating leverage Own work capitalized continues to

(€m)	Q2 2023	Q2 2022	+/-	H1 2023	H1 2022	+/-
Revenues	122.0	109.7	+11.2%	243.8	217.6	+12.1%
Own work capitalized	5.9	7.2	+17.9%	12.2	14.5	+16.0%
Personnel costs	-22.1	-23.3	+4.8%	-46.5	-45.6	-2.0%
Marketing costs	-9.3	-12.7	+26.8%	-22.1	-26.4	+16.3%
IT costs	-5.2	-5.4	+4.7%	-10.4	-10.7	+2.5%
Selling costs	-7.1	-6.4	-11.3%	-16.7	-13.1	-27.5%
Other operating costs	-6.0	-7.1	+16.1%	-13.8	-15.6	+11.7%
Total operating effects	-49.6	-54.9	+9.5%	-109.5	-111.4	+1.7%
ooEBITDA	78.2	62.0	+26.1%	146.5	120.7	+21.4%
ooEBITDA margin	64.2%	56.6%	+7.6pp	60.1%	55.5%	+4.6pp

decrease due to completion of development & integration projects

Focus on efficiency – operating effects decreased on the back of organisational efficiency measures and reduced marketing spend

Other operating costs decreased due to less reliance on external spend and vendors

Significantly expanding operating leverage in Q2 2023

Costs / Capex as % of Revenues

ooEBITDA growth significantly outpaced revenue growth in Q2 2023 …

… and as a consequence, ooEBITDA margin improved

Margin difference in pp (y-o-y)

Adjusted EPS continues to grow strongly

(€m)	Q2 2023	Q2 2022	+/-	H1 2023	H1 2022	+/-
Ordinary operating EBITDA	78.2	62.0	+26.1%	146.5	120.7	+21.4%
Non-operating effects	-8.2	-2.6	->100%	-18.2	-7.6	->100%
Reported EBITDA	70.0	59.5	+17.8%	128.2	113.1	+13.4%
D&A	-8.2	-15.2	+46.4%	-16.2	-22.8	+29.0%
EBIT	61.9	44.2	+39.8%	112.1	90.3	+24.1%
Financial result	-3.6	-4.1	+12.7%	-6.3	-20.8	+69.8%
Earnings before tax	58.3	40.1	+45.4%	105.8	69.5	+52.2%
Taxes on income	-14.9	-13.3	-12.0%	-25.3	-22.6	-12.1%
Net income	43.4	26.8	+61.8%	80.5	46.9	+71.5%
Basic EPS in €	0 59	0 34	+73 7%	1 09	0 59	+86 1%
Adjusted EPS in €	0 66	0 46	4% +45	1 23	0 89	+37 4%
Weighted shares # av	73 4	78 9	-6 9%	73 5	79 8	9% -7

Non-operating effects higher due to share based comp and one-off costs related to organisational efficiency projects

Adjusted EPS amounted to €1.23 for the first half 2023, growing 37%

D&A lower due to an unscheduled depreciation of self-developed software and the special depreciation of FLOWFACT in the previous year

Upgrading FY2023 guidance to incorporate Sprengnetter for H2 2023 and improved operating leverage

Scout24 Group 2023e

circa 15%

Revenue growth

( c. 3pp contribution from Sprengnetter)

18 - 19%

Ordinary operating EBITDA growth

(c. 1pp contribution from Sprengnetter)

Q&A

Q3/9M 2023 Results 2 November 2023 Capital Markets Day planned for February 2024

Filip Lindvall – Vice President Group Strategy & Investor Relations

ir@scout24.com