Full Year 2026 Baltic Classifieds Group PLC Earnings Call Transcript
Key Points
- Baltic Classifieds Group PLC (FRA:983) achieved a 7% growth in both revenue and EBITDA, maintaining an industry-leading EBITDA margin of 78%.
- The real estate vertical was the strongest performer, with a 17% revenue growth, driven by increased broker numbers and higher ARPU.
- The company significantly accelerated its share buyback program, repurchasing over 10% of its issued share capital by mid-June 2026.
- Employee engagement is high, with over 95% of employees expressing pride in being part of the company, and the workforce has a balanced gender split with women holding 50% of leadership positions.
- Baltic Classifieds Group PLC (FRA:983) has made substantial progress in sustainability, reducing CO2 emissions by 75% since 2022 and transitioning to 88% renewable energy consumption.
- The Auto24 business line faced significant headwinds due to the introduction of a new car tax in Estonia, reducing listing volumes.
- C2C revenue in the automotive segment declined by 9%, despite an 11% growth in B2C revenue.
- Operating costs increased by 8% to EUR 19.9 million, driven by higher people costs and marketing expenses.
- The effective tax rate increased from 12% to 13%, with further increases expected due to rising corporate income tax rates in Lithuania.
- The generalist marketplace experienced modest growth of 3%, with a 13% decline in the volume of paid listed ads.
Good morning, everyone. Despite a challenging market environment, BCG once again demonstrated the resilience of its business model. We delivered a solid financial result with both revenue and EBITDA growing by 7%, while maintaining our industry-leading EBITDA margin of 78%. The significant headwind came from Auto24 business line, where the introduction of the new car tax in Estonia reduced listing volumes. Excluding this one-off impact, the rest of the group delivered double-digit growth.
Looking across our verticals, real estate was our strongest performer, growing by impressive 17%. Jobs and services also had an excellent year, accelerating from 7% growth in the first half of the year to 11% in the second half of the year, resulting 9% growth for the full year. Automotive remained stable despite significant volume headwinds. Meanwhile, our generalist marketplace continued to deliver a steady growth of 3%.
Given our exceptionally strong balance sheet and attractive market valuations, we significantly accelerated
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