Scout24 AG

Investor Presentation • Aug 13, 2018

www.scout24.com H1 2018 Results Conference Call Scout24 AG Greg Ellis (CEO), Christian Gisy (CFO) Munich | 13 August 2018

Disclaimer

This document has been issued by Scout24 AG (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 forwardlooking, 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.

All numbers in new vertical structure unaudited and preliminary only, if not otherwise stated.

Key Operational Highlights

WE CONTINUE TO BE THE MOST RELEVANT MARKETPLACE FOR BOTH OUR PARTNERS AND CONSUMERS

Around 3m active listings¹

Management estimates average on monthly traffic (sessions) measured by own traffic monitor (google analytics). Mobile traffic as a percentage of total traffic (sessions). 1) Based on all listings; 2) For AS24 Based on dealer listings, non-deduplicated; 3) H1 2018 Traffic including traffic from Gebrauchtwagen.at, AutoTrader.nl and Easter European language versions

161m 183m

7 out of 10 engage through us on the go³

Key Financial Highlights

STRONG ORGANIC REVENUE GROWTH …SUSTAINABLE PROFITABILITY... …AND ROBUST & VISIBLE CASH FLOWS

229 251 H1 2017 H1 2018 +10% 139 3 H1 2017 H1 2018 123 (126) +13% (+10%) 113 121 H1 2017 H1 2018 +6% ooEBITDA-margin Group Revenues Group ordinary operating EBITDA¹ Group cash contribution² 54% 55% 92% Cash Conversion² 87% 55% ooEBITDA-margin like-for-like Like-for-like for IFRS 16 adoption 91% Cash Conversion like-for like² in €m

H1 2017 restated for IFRS 15. H1 2018 figures considering financial reporting adjustments for IFRS 9, IFRS 15, IFRS 16. H1 2018 cash contribution adjusted for capital expenditures incurred due to the first time application of IFRS 16.

1) Ordinary operating (oo)EBITDA represents EBITDA adjusted for non-operating and special effects. These include primarily expenses for reorganisation, expenses in connection with the capital structure of the Company and company acquisitions (realised and unrealised), as well as parts of the effects. Like-for-like comparison reflects pro-forma adjustment as if IFRS16 would have been adopted in 2017

2) Cash contribution is defined as ooEBITDA less Capital expenditures, cash conversion as ooEBITDA / (ooEBITDA less Capital expenditure). Cash Conversion like-for-like does not include extraordinary capital expenditures (for office relocation in Munich) of a total of €5.6m.

1) Management estimates, based on visits to the IS24 platform from mobile devices, mobile and all IS24 applications as measured by own traffic monitor (google analytics).

2) Based on average Unique Monthly Visitors ("UMV") for traffic and total time spent for engagement, comScore MMX May 2018 (desktop only for traffic and desktop and mobile for engagement). H1 average based on January – May figure.

ImmobilienScout24

What We Have Delivered	What We Are Working On
Increase in customer satisfaction and continued low churn	Continue to drive VIA usage and further expand ARPU
Successfully implemented initiatives to improve sales execution	Leveraging regional product and pricing strategy
Increase of listing market share, healthy traffic growth	Drive sales force performance
Successful roll-out of major product innovations	Continue to support product innovations with marketing

AutoScout24

FOCUS ON GERMANY – STRENGTHENING MARKET POSITIONING

1) Management estimate; Including commercial vehicle dealers

2) Management estimate.

3) Management estimates, based on visits to the AS24 platform from mobile devices, mobile and all AS24 applications as measured by own traffic monitor (google analytics). Including traffic from eastern European platforms

supporting lead-generation for German dealers; based on H1 2017/ H1 2018 monthly average

AutoScout24

FOCUS ON ITALY, AUSTRIA & BENELUX – CEMENTING OUR LEADERSHIP POSITIONS

1) Management estimate; Including commercial vehicle dealers

2) Management estimate.

3) Management estimates, based on visits to the AS24 platform from mobile devices, mobile and all AS24 applications as measured by own traffic monitor (google analytics). Including traffic from eastern European platforms

supporting lead-generation for German dealers; based on H1 2017/ H1 2018 monthly average 4) H1 2018 Sessions including sessions from AS24 platforms in Austria and AutoTrader.nl for the Netherlands.

Scout24 AG | H1 2018 Results Presentation

AutoScout24 PROVIDING CLEAR BENEFIT TO OUR PARTNERS

Dealer Partner ARPU Germany (contractual)

Dealer Partner ARPU European Core Countries (contractual)

AutoScout24

What We Have Delivered	What We Are Working On
Creating tangible USPs/differentiation points vs. our competition in Germany	Further leverage USPs to narrow traffic and content gap vs. our competition
Marketing Power product range enhanced with new tier product (360degree)	Further increase penetration of Marketing power products and monetise market leading position in Germany and Europe
Strengthening Market position in Austria and expanding the position in the European core countries	Finalise integration gebrauchtwagen.at and monetise further our market leading positions in European core countries
Cementing our listing advantage across Europe	Further execute on sales strategy to narrow content gap

Scout24 Consumer Services

DRIVING DIGITISATION

Acquisition of FINANZCHECK.de 13

Takes our Consumer Services Business to the Next Level

Scout24 Consumer Services

Financial Review H1 2018

SCOUT24 AG Christian Gisy (CFO)

Recap: New accounting regulations as of 2018

IFRS 9, IFRS 15, IFRS 16 ARE BEING APPLIED AS OF 1 JANUARY 2018 IN REPORTING OF SCOUT24 AG

Scout24 Group

STRONG ORGANIC GROWTH AND SUSTAINABLE PROFITABILITY

ImmobilienScout24

PLATFORM FOR CONTINUED GROWTH

Subline im Text ImmobilienScout24 (in €m) Lorem ipsum et dolor sit amet. Ut wisi enim ad minim veniam,	Q2 2017	Q2 2018	y-o-y	H1 2017	H1 2018	y-o-y
quis nostrud exerci tation ullamcorper suscipit lobortis nisl ut Revenue with Residential aliquip ex ea commodo consequat. real estate partners	28.4	30.2	6.3%	56.1	59.7	6.4%
• Lorem ipsum et dolor sit amet Revenue with Business real estate partners	11.8	13.1	11.0%	23.2	25.6	10.3%
• Virgine perforatum estes sit Revenue with private amet cujus latus listers and others	19.1	18.5	(3.1%)	36.9	36.9	0.0%
• Esto nobis praegustatum mortis Revenue	59.3	61.8	4.2%	116.3	122.3	5.2%
Ordinary Operating EBITDA	40.2	43.6	8.5%	78.4	83.6	6.6%
Ordinary Operating EBITDA-margin	67.9%	70.6%	2.8pp	67.4%	68.3%	1.0pp

Key highlights

• Acceleration in growth rate by ~5pp in H1 2018 compared to H1 2017 in Revenue with Residential real estate partner driven by strong growth in contractual revenues with Residential real estate partners (H1 2018: 7.6%)
• Revenue with Business real estate partners on continued growth track driven by strong ARPU growth (H1 2018: 11.6%)

AutoScout24

DELIVERING ON GROWTH POTENTIAL

AutoScout24 (in €m)	Q2 2017	Q2 2018	y-o-y	H1 2017	H1 2018	y-o-y
Revenue with Dealers Germany	16.7	18.4	10.2%	33.0	36.7	11.2%
Revenue with Dealers in European Core Countries	15.1	18.1	19.9%	29.1	35.4	21.6%
Revenue with OEM	3.9	4.9	25.6%	7.1	8.7	22.5%
Other Revenue	3.1	3.1	0.0%	6.0	5.9	(0.0)%
Revenue	38.8	44.6	15.0%	75.1	86.7	15.4%
Ordinary Operating EBITDA	19.7	24.2	22.8%	34.4	43.2	25.6%
Ordinary Operating EBITDA-margin	50.7%	54.3%	3.5pp	45.9%	49.8%	4.0pp

Key highlights

• Continued ARPU expansion in uncertain market condition ("Diesel gate") driving Revenue with Dealers Germany (H1 2018: 7.6% y-o-y)
• Leveraging number 1 positions in Core Countries and roll-out of MIA product set (including 360°) paying off with revenue growth on steady +20% level

20

2017 figures restated for IFRS 15. H1 2018 figures considering financial reporting adjustments for IFRS 9, IFRS 15, IFRS 16

Scout24 Consumer Services

TAKING THE BUSINESS TO THE NEXT LEVEL

Consumer Services (in €m)	Q2 2017	Q2 2018	y-o-y	H1 2017	H1 2018	y-o-y
Revenue with Finance Partners	10.1	10.6	5.0%	19.1	20.6	7.9%
Services Revenue	5.6	6.7	19.6%	11.7	13.5	15.4%
3 rd Party Display Revenue	3.4	4.0	17.6%	6.8	7.9	16.2%
Revenue	19.2	21.3	10.9%	37.5	42.0	12.0%
Ordinary Operating EBITDA	7.5	9.0	20.0%	13.7	15.8	15.3%
Margin	39.2%	42.1%	3.2pp	36.6%	37.6%	1pp

Key highlights

• Services Revenue fuelled by product offering serving consumer needs
• Strong 3rd party diplay revenues overcoming market turmoil driven by GDPR

Ordinary Operating Cost

(in €m)	H1 2017	H1 2018
Revenues	228.9	251.2
Own work capitalised	5.8	9.6
Personnel (incl. external labour)	(60.6)	(69.6)
Marketing (online & offline)	(25.9)	(27.4)
IT	(7.8)	(9.5)
Other costs	(25.3)	(25.1)
Total operating cost	(106.1)	(112.4)
Ordinary operating EBITDA	122.8	138.8
Ordinary operating EBITDA-margin	53.7%	55.3%

• Increase in capitalisation of internally generated assets partially due to change in methodology of accounting (€ 2.6m) as well as by increased product development

• Increase in staff of ~8% (87 FTE) in H1 2018 compared to H1 2017 • Increase partially due to change in methodology of accounting (€ 2.6m) in the area of external labour

• Reflecting increase in data centre costs related to higher share of cloud-based platform solutions

Below EBITDA Items

(in €m)	H1 2017	H1 2018
Ordinary operating EBITDA	122.8	138.8
Non-operating items	(10.7)	(7.8)
Reported EBITDA	112.1	131.0
D&A	(8.8)	(13.5)
D&A on PPA items	(19.6)	(17.9)
EBIT	83.8	99.6
Results Equity Method	(0.0)	0.0
Finance Income	3.4	1.0
Finance Cost	(7.1)	(8.2)
Earnings before Tax	80.1	92.5
Taxes on Income	(25.2)	(26.1)
Earnings after Tax	54.9	66.4
Earnings per Share (in €)	0.51	0.62
Earnings1 Adjusted	73.3	80.3
Earnings per Share adjusted (in €)1	0.68	0.75

1. Unaudited. Excluding Non-recurring items and D&A on PPA items, calculated with normalized tax rate. Detailed reconciliation in appendix.

• Includes € 1.6m of extraordinary income for the sale of the trade mark JobScout24 CH • Includes expenses of € 3.5m for share-based compensation, € 3.2m for M&A related activities and € 0.9m for the office relocation in Munich

• Includes €3.0m of depreciation resulting from the adoption of IFRS 16

• Includes Amortization of capitalized financing fees of €2.8m (including write-offs due to refinancing and prepayment, non-cash relevant)

• H1 2017 includes €1.9m income related to reimbursed interest payments on a tax liability

• Underlying finance cost down €1.5m against H1 2017, driven by partially refinancing and debt reduction

• Effective tax rate of 28.2% driven by one-off • reduction of deferred tax liabilities (normalized tax rate: 31.5%)

Capital Structure

Debt	structure (as		per August 2018)1	Loan	volume (€m)		Margin
	Term loan				300		1.15%
	RCF I (drawn)				70		0.85%
	RCF I (undrawn)				130		0.85%
	RCF II (undrawn)				500		0.80%
	Schuldschein				215
677	(30)	647	(30)	618	(35)	623 37	0	624 37
681		651		621		586		586
(4)	(4)		(3)
6 3	(10)	5 3	4	5 7	1	5 8 Mar 2018	(24)	3 4
June 2017	Bank Debt	Sep 2017	Cash and cash equivalents	Dec 2017			Dividend payment	June 2018

• Debt structure reflecting successful early refinancing of bank debt in July 2018 with expected annual savings of €2.4m post acquisition of FINANZCHECK.de
• Dividend payment of €60.3m (40% pay-out ratio) in line with dividend policy of pay-out ratio of 30.0% to 50.0% of adjusted net income
• Net debt/ordinary operating EBITDA ratio of 2.6x to 2.7x expected by end of 2018

We have clear priorities for cash

Re-invest in growth

M&A activities targeted to strengthen market positions or grow adjacencies business -Acquisition of FINANZCHECK.de to boost consumer services growth to become a €250m+ revenue business in the mid-term-

Return cash to shareholders

Dividend pay-out ratio of 30.0% to 50.0% of adjusted net income over time -To be maintained after latest acquisition-

Repay debt

Net debt/ordinary operating EBITDA ratio of 2.6x to 2.7x expected by end of 2018 -Target leverage ratio of 1.0x to 1.5x over time to be maintained after latest acquisition-

Outlook Full Year 2018

Revenue

ordinary operating EBITDA margin

ImmobilienScout24	5.0% to 6.0% growth	ImmobilienScout24	At least 68.0%
AutoScout24	At least €180.5m	AutoScout24	Around 52.0%
Scout24 Consumer Services	At least €87.0m	Scout24 Consumer Services	Increase by at least one percentage point
Scout24 Group organic	9.0% to 11.0% growth	Scout24 Group organic	Between 56.0% and 57.5%
Contribution of FINANZCHECK.de in 20181	Around €12.0m	FINANZCHECK.de in 20181	Around negative 14%
Scout24 Group	11.5% to 13.5% growth	Scout24 Group	Around 54.5% to 56.0%

SCOUT24 AG H1 2018 Results Appendix

Reconciliation Core Agents

ImmobilienScout24	H1 2018	YoY
Core Agents (end of period, #)	18,354	7.7%
ARPU (€)	795	4.5%
Core Agent Revenues (€m)	84.5	7.4%

ImmobilienScout24	H1 2018	YoY
Residential Partners (end of period, contractual, #)	14,301	10.2%
ARPU (€)	626	n/a
Core Residential revenues (€m)	52.1	7.6%
Business Partners (end of period, #)	2,785	1.2%
ARPU (€)	1,517	n/a
Core Business revenues (€m)	25.3	10.8%

Scout24 Consumer Services	H1 2018	YoY
Finance Listing revenues (€m)	7.1	(4.3)%

Reconciliation Adjusted Earnings

(in €m)	H1 2017	H1 2018
Earnings before Tax	80.1	92.5
Add back non-operating items	10.7	7.8
Add back D&A on PPA items	19.6	17.9
Add back extraordinary finance expenses / income and effects from derivative instruments1	(3.4)	(1.0)
Deduct Profit from disposal of investments accounted for using the equity method	-	-
Adjusted Earnings before Tax	107.1	117.2
Adjusted Tax based on normalized Tax rate	(33.5)	(36.9)
Non-Controlling interest	-	-
Adjusted Earnings attributable to owners of the parent company	73.5	80.3
Earnings per Share adjusted (in €)	0.68	0.75
Weighted average of shares (in million)	107.6	107.6

Historical Data IS24

ImmobilienScout24 (in €m)	H1 2016 (not restated for IFRS 15,16)	H2 2016 (not restated for IFRS 15,16)	FY 2016 (not restated for IFRS 15,16)	H1 2017 (not restated for IFRS 16)	H2 2017 (not restated for IFRS 16)	FY 2017 (not restated for IFRS 16)	H1 2018
Revenue with Residential real estate partners	55.8	56.4	112.2	56.1	57.5	113.6	59.7
Revenue with Business real estate partners	22.5	23.1	45.6	23.2	24.1	47.3	25.6
Revenue with private listers and others	35.3	37.0	72.0	36.9	38.0	75.0	36.9
Revenue	113.7	116.1	229.8	116.3	119.6	235.9	122.3
Ordinary Operating EBITDA	n/a	n/a	n/a	78.4	79.2	157.5	83.6
Ordinary Operating EBITDA-margin	n/a	n/a	n/a	67,4%	66,2%	66,8%	68,3%

Historical Data AS24

AutoScout24 (in €m)	H1 2016 (not restated for IFRS 15,16)	H2 2016 (not restated for IFRS 15,16)	FY 2016 (not restated for IFRS 15,16)	H1 2017 (not restated for IFRS 16)	H2 2017 (not restated for IFRS 16)	FY 2017 (not restated for IFRS 16)	H1 2018
Revenue with Dealers Germany	27.5	30.0	57.5	33.0	34.9	67.9	36.7
Revenue with Dealers in European Core Countries	24.5	26.4	50.9	29.1	32.4	61.5	35.4
Revenue with OEM	9.6	10.9	20.5	7.1	10.4	17.5	8.7
Other Revenue	5.9	6.1	12.0	6.0	5.8	11.8	5.9
Revenue	67.5	73.4	140.9	75.1	83.6	158.7	86.7
Ordinary Operating EBITDA	n/a	n/a	n/a	34.4	42.1	76.6	43.2
Ordinary Operating EBITDA-margin	n/a	n/a	n/a	45,9%	50,4%	48,2%	49,8%

Historical Data CS

Scout24 Consumer Services (in €m)	H1 2016 (not restated for IFRS 15,16)	H2 2016 (not restated for IFRS 15,16)	FY 2016 (not restated for IFRS 15,16)	H1 2017 (not restated for IFRS 16)	H2 2017 (not restated for IFRS 16)	FY 2017 (not restated for IFRS 16)	H1 2018
Revenue with Finance Partners	17.0	17.3	34.3	19.1	20.4	39.5	20.6
Services Revenue	10.0	10.2	20.2	11.7	12.1	23.7	13.5
rd 3 Party Display Revenue	7.2	8.7	15.9	6.8	7.6	14.4	7.9
Revenue	34.1	36.2	70.3	37.5	40.0	77.6	42.0
Ordinary Operating EBITDA	n/a	n/a	n/a	13.7	14.6	28.4	15.8
Margin	n/a	n/a	n/a	36,6%	36,5%	36,5%	37,6%

Income Statement

(EUR '000)	H1 2017	H1 2018
Revenues	228.9	251.2
Own work capitalised	5.8	9.7
Other operating income	0.3	2.1
Total operating performance	235.0	262.9
Personnel expenses	(58.4)	(59.9)
Advertising expenses	(25.9)	(28.2)
IT expenses	(7.8)	(9.8)
Other operating expenses	(30.7)	(33.9)
EBITDA (Earnings before interest. tax. depreciation and amortisation)	112.1	131.0
Depreciation. amortisation and impairment losses	(28.3)	(31.4)
EBIT (Earnings before interest and tax)	83.8	99.6
Results from investments accounted for using the equity Method	(0)	0
Financial income	3.4	1.0
Financial expenses	(7.1)	(8.2)
Net financial result	(3.7)	(7.1)
Earnings before tax	80.1	92.5
Income taxes	(25.2)	(26.1)
Earnings after tax	54.9	66.4
Earnings per share (EUR)	0,51	0.62
Diluted Earnings per share	0,51	0.62

Balance Sheet 1 / 2

Assets (EUR '000)	H1 2017	H1 2018
Current assets	115.3	102.9
Cash and cash equivalents	56.7	33.6
Trade receivables	47.4	53.0
Financial assets	1.1	1.4
Income tax receivables	2.7	1.9
Other assets	7.5	12.9
Non-current assets	2,025.2	2,044.9
Goodwill	836.7	836.7
Trademarks	984.6	984.4
Other intangible assets	188.9	172.6
Right-of-use asset leases	-	30.9
Property, plant and equipment	8.2	14.2
Investments accounted for using the equity method	1.1	1.1
Financial assets	1.0	0.9
Deferred tax assets	2.3	1.7
Other assets	2.5	2.5
Total assets	2,140.5	2,147.8

Balance Sheet 2 / 2

Equity and liabilities (EUR '000)	H1 2017	H1 2018
Current liabilities	159.2	147.3
Trade payables	22.2	20.9
Financial liabilities	79.5	51.3
Lease liabilities	-	5.4
Other provisions	6.9	9.5
Income tax liabilities	12.8	24.6
Contract liabilities	9.7	10.9
Other liabilities	28.0	24.7
Non-current liabilities	915.8	925.9
Financial liabilities	538.0	532.4
Lease liabilties	-	26.4
Pension and similar obligations	0.5	0.6
Other provisions	3.6	1.0
Income tax liabilities	0	0
Deferred tax liabilities	371.5	363.5
Other liabilities	2.1	2.1
Equity	1,065.5	1,074.6
Subscribed share capital	107.6	107.6
Capital reserve	423.3	423.6
Retained earnings	533.7	539.8
Measurement of pension obligations	(0.1)	(0.1)
Other reserves	1.1	3.8
Equity attributable to shareholders of parent company	1,065.5	1,074.6
Total equity and liabilities	2,140.5	2,147.8

H1 2017 restated for IFRS 15. H1 2018 figures considering financial reporting adjustments for IFRS 9, IFRS 15, IFRS 16

Cash Flow Statement 1 / 2

(EUR '000)	H1 2017	H1 2018
Earnings after tax	54.9	66.4
Depreciation. amortisation and impairment losses	28.3	31.4
Income tax expense/(income)	25.2	26.1
Financial income1	(3.4)	(1.0)
Financial expenses1	7.1	8.2
Result from investments accounted for using the equity method	0	(0)
Result on disposal of intangible assets and property. plant and equipment	0	(1.7)
Other non-cash transactions	1.2	1.7
Change in other assets not attributable to investing or financing activities	(2.6)	(8.7)
Change in other liabilities not attributable to investing or financing activities	(6.2)	(3.4)
Change in provisions	1.5	(0)
Income tax paid	(38.4)	(22.2)
Cash flow from operating activities	67.6	96.8
Investments in intangible assets, including internally generated assets and assets in development	(8.2)	(10.0)
Investments in property, plant and equipment	(1.2)	(8.1)
Proceeds from disposal of intangible assets and property, plant and equipment	0,1	1.8
Payments to acquire financial assets	(0,3)	-
Proceeds from sale of financial assets	0	0
Payments for acquisitons of at equity investments	(0,4)	(0,4)
Interest received	0	1
Cash flow from investing activities	(9.9)	(16.6)

Cash Flow Statement 2 / 2

(EUR '000)	H1 2017	H1 2018
Cash flow from investing activities	(9.9)	(16.6)
Repayment of short-term financial liabilities	(0,1)	(32.3)
Raising of medium- and long-term financial liabilities	-	215.0
Repayment of medium- and long-term financial liabilities	-	(220.0)
Interest paid	(6.1)	(5.7)
Dividends paid	(32.3)	(60.3)
Cash flow from financing activities	(38.5)	(103.3)
Effect of foreign exchange rate changes on cash and cash equivalents	(0)	0
Change in cash and cash equivalents	19.2	(23.1)
Cash and cash equivalents at beginning of period	43.4	56.7
Cash and cash equivalents at end of period	62.7	33.6

IFRS changes to be considered for 2017 and Outlook 2018

IFRS 15 (Recognition of Revenues)

• Mandatory as of 1 January 2018
• 2017 financials restated, Actuals 2018 and Outlook 2018 adapted to reflect adjustment
• Negative impact on Revenue of € 7.2m in 2017

IFRS 16 (Accounting of Leases)

• Mandatory as of 1 January 2019, Scout24 early adopter
• 2017 not restated, Actuals 2018 and Outlook 2018 adapted to reflect adjustment
• Impact on ordinary operating EBITDA of positive ~€ 6.6m for full year 2018
• € 33.4m to balance sheet extension for the first half 2018 and additional depreciation of € 6.0m for the full year 2018

IFRS 9 (Valuation of Financial Instruments)

• Mandatory as of 1 January 2018
• 2017 not restated, Actuals 2018 adapted to reflect adjustment
• No impact on P&L, € 3.9m impact in Trade Receivables and Retained Earnings for opening balance sheet 2018

No impact on underlying operational growth and profitability trajectory

IR Contact details and financial calendar

Financial Calendar 2018 (expected)

Q3 2018 Results November 7, 2018

Publications

Full year report report.scout24.com/2017

CSR Report csrbericht.scout24.com/en

Group Interim Report H1 & Q2 2018 http://www.scout24.com/en/Investor-Relations.aspx

Britta Schmidt

Vice President Investor Relations & Controlling

Kai Knitter

Director Investor Relations

Diana Apostol

Junior Manager Investor Relations

Tel : +49 89 444 56 3278 ; Fax : +49 89 444 56 193278; Email : ir@scout24.com