Preliminary Q4 2024 Scout24 SE Earnings Call Transcript
Key Points
- Scout24 SE (XTER:G24) achieved a 11.2% revenue growth in 2024, marking the fourth consecutive year of double-digit revenue growth.
- The company reported a strong ordinary operating EBITDA margin of 61.5%, with a 180 basis point expansion year-on-year.
- Free cash flow generation was robust, reaching EUR223.2 million, a 34% increase year-on-year, representing a 105% conversion of adjusted net income.
- The B2B customer base surpassed 25,000, and the private subscription business saw a 24.5% increase in subscribers, reaching 470,000.
- Scout24 SE (XTER:G24) anticipates revenue growth acceleration in 2025, projecting a range of 12% to 14% with continued EBITDA margin expansion.
- Demand for mortgage leads remains muted despite a recovery in seller leads.
- The German real estate market is still far from pre-2022 transaction levels due to higher interest rates.
- Operating expenses increased by 5.6% in 2024, driven by an 8% rise in personnel costs.
- The financial result decreased due to increased expenses from the subsequent measurement of purchase price liabilities.
- Reported net income for the fourth quarter decreased by 26.7%, and for the full year, it decreased by 9.3%.
Good afternoon, everyone, and welcome to Scout24 fourth quarter and full year 2024 earnings call. My name is Filip Lindvall, and I'm Vice President, Group Strategy and Investor Relations we will conclude the call with a Q&A session. You can find today's presentation on our website under Financial Reports and Presentations.
This session will be recorded and a replay will be made available as quickly as possible after the event. Please take note of the disclaimer on Page 2. Tobi, now over to you.
Thank you, Filip, and welcome, everyone. Let's go straight to Page 4 and start with the key highlights for 2024 and the fourth quarter. 2024 was another very successful year for Scout24 on all fronts. We ended the year at the top end of our guidance range with 11.2% revenue growth and 61.5%, ordinary operating EBITDA margin. These results build on the strong financial performance we delivered in
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