Adevinta — Earnings Release 2020

Oct 19, 2020

Adevinta ASA (ADE) - Adevinta publication of Information Memorandum and preliminary results as of and for the three months ended September 30, 2020.

Adevinta ASA (ADE) - Adevinta publication of Information Memorandum and preliminary results as of and for the three months ended September 30, 2020.

Oslo, 19 October 2020 - In conjunction with the launch of a bond issue announced

today, Adevinta ASA ("Adevinta" or the "Company") is disclosing the Information

Memorandum attached hereto and is releasing preliminary results for the three

months ended September 30, 2020. The Information Memorandum presents material

information regarding Adevinta's agreement to acquire eBay Classifieds Group,

the global classifieds group of eBay Inc, and includes among other things,

details on the transaction, eBay Classifieds Group and the combined business

following completion of the transaction, including pro forma financial

information.

Adevinta's preliminary results as of and for the three months ended September

30, 2020

Although results of operations for the three months ended September 30, 2020 are

not yet final, the following unaudited information reflects our preliminary

expectation with respect to such results based on information currently

available to management.

As expected, the pick-up in performance throughout the second quarter of 2020

has continued into the third quarter. We saw further improvement in operational

KPIs in our main markets, with traffic growing year-on-year in all large

markets.

Based on the preliminary results, we estimate that operating revenue including

JVs for the third quarter of 2020 will increase by more than 1% compared to the

same period last year, with France and Brazil posting positive organic growth.

Classifieds revenues are expected to grow year-on-year while display advertising

revenues are expected to decrease year-on-year, albeit at a slower pace than in

the second quarter.

We have continued to efficiently adapt our cost base to the weak macro

environment and consequential impact on operating revenue growth in the quarter

through further savings initiatives, notably in marketing and personnel costs.

We have nevertheless started to ramp-up recruitments and investment in marketing

at the very end of the quarter in order to support further product development

and promote offering enhancements.

Based on the preliminary results, we estimate that, for the three months ended

September 30, 2020, EBITDA margin including JVs will be up compared to the

second quarter of 2020.

Important Information

The preliminary Adevinta financial information as of and for the three months

ended September30, 2020 presented herein is derived from Adevinta's internal

management accounts for the months of July, August and September 2020. The

preliminary financial results for Adevinta presented below are not a

comprehensive statement of our financial results for the three months ended

September 30, 2020. In addition, the preliminary financial results presented

below for Adevinta have not been audited, reviewed, or compiled by Ernst & Young

AS, our independent auditors. The preliminary Adevinta financial results

presented herein are subject to the completion of our financial closing

procedures, which have not yet been completed. The Adevinta KPIs discussed

herein are also not final and are subject to change. Adevinta's actual results

for the three months ended September 30, 2020 are not available and may differ

materially from these estimates. Therefore, you should not place undue reliance

upon these preliminary Adevinta financial results and KPIs. For instance, during

the course of the preparation of the respective financial statements and related

notes, additional items that would require material adjustments to be made to

the preliminary estimated financial results presented above may be identified.

There can be no assurance that these estimates will be realized, and estimates

are subject to risks and uncertainties, many of which are not within our

control. Accordingly, the operating revenue and profit (loss), and other

financial items and KPIs described herein for Adevinta, for any particular

period may not be indicative of future results. This information is subject to

the disclosure requirements pursuant to Section 5-12 the Norwegian Securities

Trading Act.

Marie de Scorbiac

Head of Investor Relations

ir@adevinta.com (mailto:ir@adevinta.com)

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act