Scout24 AG

Investor Presentation • May 4, 2023

Making a

difference

Analyst Call – Results for Q1 2023 4 May 2023

Disclaimer

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The Q1 2023 figures contained in this document were neither audited in accordance with §317 HGB nor reviewed by an auditor.

Off to a good start into 2023

Good start into the year with 13% revenue and 16% ooEBITDA y-o-y growth respectively

Agent membership business continues growth momentum – 16.5% membership revenue growth reflecting strong demand for IS24 core products and new customer wins

Innovation: integrating professional valuation products into agent membership packages to drive price transparency in the current "bidask gap environment"

Seller Leads & Mortgage business facing continued muted demand

16% ooEBITDA growth fueled by product mix and operating leverage

Adjusted EPS grew strongly by 27%, reaching €0.56

Confirming full year guidance of 12% revenue growth and 13% ooEBITDA growth

Q1 2023 reflects strong momentum in our core business and continued customer growth

Strong growth in memberships and Private subscriptions; Seller and Mortgage Leads facing muted demand

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

Strong growth in all three segments contributed to 13% group revenue growth

Professional segment performance is driven by accelerating growth in subscriptions

(€m)	Q1 2023	Q1 2022	+/-
Professional revenue	78.0	71.4	+9.3%
of which subscriptions	70.8	64.0	+10.7%
thereof membership	61.4	52.7	+16.5%
thereof seller leads	9.4	11.3	-16.7%
(period # Customers average)	21 703 ,	20 854 ,	1% +4
Resulting ARPU (in €)	1,088	1,023	+6.3%
of which PPA	3.6	2.9	+23.0%
of which Other (Mortgage)	3.6	4.4	-19.6%
Professional ooEBITDA	48.4	42.8	+12.9%
Professional ooEBITDA margin	62.0%	60.0%	+2.0pp

Growth driven by a combination of customer growth, rate card and product upgrades

Seller leads & Mortgage impacted by muted customer demand due to challenging market environment

PPA growth remains strong due to high level of inventory and longer standing times

ooEBITDA margin increased due to product mix and reduced level investment into Seller Leads

Private segment growth is fuelled by continued strong subscriber growth and PPA growth

(€m)	Q1 2023	Q1 2022	+/-
Private revenue	34.9	28.2	+23.7%
of which subscriptions	17.0	13.8	+23.6%
# Customers (period average)	342 037 ,	283 567 ,	+20 6%
Resulting ARPU (in €)	16.6	16.2	+2.5%
of which PPA	11.8	8.9	+32.3%
of which Other (Schufa, RRI)	6.0	5.5	+10.0%
Private ooEBITDA	16.3	13.4	+22.2%
Private ooEBITDA margin	46.8%	47.4%	-0.6pp

Further strong customer wins due to great demand in the rent market

Subscriptions growth continues to be driven by new customers with slightly increasing ARPU

Strong PPA reflecting continued high inventory and longer average standing times

ooEBITDA margin decreased slightly due to increased marketing investment for specific product groups and new campaigns in Q1 2023

ooEBITDA grew strongly by 16% fueled by favorable product mix and operating efficiency

(€m)	Q1 2023	Q1 2022	+/-
Revenues	121.9	107.9	+13.0%
Own work capitalized	6.2	7.3	-14.2%
Personnel costs	-24.4	-22.3	+9.1%
Marketing costs	-12.8	-13.7	-6.4%
IT costs	-5,2	-5,3	-0.3%
Selling costs	-9.7	-6.8	+42.8%
Other operating costs	-7.8	-8.5	-8.1%
Total operating effects	-59.9	-56.5	+6.0%
ooEBITDA	68.2	58.6	+16.3%
ooEBITDA margin	56.0%	54.4%	+1.6pp

Own work capitalized decreased due to reduced level of investments

Focus on efficiency – operating effects grew at only 6% due to cost control

Selling costs increased due to lead cooperation agreements and increased costs for credit checks as part of strategy to test products

Expanded operating leverage in Q1 2023 –

on the back of strength in the core business and completing investment period

ooEBITDA growth meaningfully outpaced revenue growth in Q1 2023…

…and ooEBITDA margin improved

Adjusted EPS grew strongly by 27%

(€m)	Q1 2023	Q1 2022	+/-
Ordinary operating EBITDA	68.2	58.6	+16.3%
Non-operating effects	-10.0	-5.0	+99.1%
Reported EBITDA	58.2	53.6	+8.6%
D&A	-8.0	-7.5	+6.0%
EBIT	50.2	46,1	+9.0%
Financial result	-2.7	-16.6	-84.1%
Earnings before tax	47.6	29.4	+61.9%
Taxes on income	-10.5	-9.3	+12.3%
Net income	37.1	20.1	+84.5%
Basic in EPS €	0 50	0 25	+102 4%
Adjusted EPS in €	0 56	0 44	+27 3%
Weighted # shares av	73 6	80 7	-8 8%

Non-operating effects increased due to costs for organisational changes

Improved financial results as 2022 included one-off costs related to closure of Spezialfond

Confirming previous guidance for FY2023 despite macro uncertainties

Scout24 Group 2023E

12% 13%

Revenue growth Ordinary operating EBITDA growth

12 Q1 2023 Results | 05/2023

Q&A

Preliminary FY 2021 Results | March 2022 Q1 2023 Results | 05/2023

Annual General Meeting 22 June 2023 Q2/H1 2023 results 8 August 2023

Filip Lindvall – Director Group Strategy & Investor Relations

ir@scout24.com