Baltic Classifieds Group PLC

BCG

Equity

ISIN GB00BN44P254 / Valor 111980347

LSE London Stock Exchange, SETS (2026-01-19)

GBP 1.94-2.42%

Baltic Classifieds Group PLC
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About company

Baltic Classifieds Group PLC (BCG) stands as the premier operator of online classifieds in the Baltic region, encompassing Lithuania, Estonia, and Latvia. The company manages a diverse portfolio of fourteen leading online classifieds portals, which are segmented into four main business lines: Auto, Real Estate, Jobs & Services, and Generalist categories. These platforms serve as digital marketplaces where individuals and businesses can buy, sell, or rent products and services across a wide range of categories. BCG's offerings are accessible through a variety of brand websites, which are optimized for both desktop and mobile users, ensuring broad accessibility and user convenience. By focusing on these key sectors, BCG has positioned itself as a critical intermediary in the digital commerce ecosystem of the Baltic states, facilitating transactions and connections within the region's online marketplace.

Summarized from source with an LLMView SourceSector: Finance

Key financials

Revenue €44.8m (+7% vs H1 2025). EBITDA €35.2m (+7%) with EBITDA margin 78% (79% a year earlier). Operating profit €31.1m (+18%). Adjusted net income €30.1m (+9%). Basic EPS 5.5 € cents (+22%); adjusted basic EPS 6.3 € cents (+10%).

Revenue mix and growth drivers

Core classifieds (B2C + C2C) = 91% of revenue. B2C (52% of revenues) grew 13%; C2C (39%) grew 3%. Real Estate led growth (+20%), Auto was flat (market headwinds in Estonia), Jobs & Services +7%, Generalist +4%. ARPU and yields rose across lines (Real Estate ARPU +16%, Auto +13%, Jobs +5%; C2C revenue per listed ad: Real Estate +27%, Auto +29%, Generalist +26%).

Operational trends

Average traffic ~58m visits/month. Listing volumes fell in some C2C categories (Auto listed ads -29%, active auto ads -26%; Real Estate listed -7%, active -5%) due to faster selling times and Estonia car tax impact. BCG implemented C2C pricing in spring and B2C pricing/packaging in parts of the business in Sept–Oct 2025; product and AI investments continued.

Costs and cash flow

Operating costs excluding D&A €9.7m (+8%); depreciation & amortisation fell 37% as certain acquired intangibles fully amortised. Cash from operations €35.7m (+4%) with cash conversion at 99%.

Balance sheet and capital returns

Net cash of ~€5.1m at 31 Oct 2025 after voluntarily repaying €10.0m of debt. Returned €6.4m via buybacks in H1 and declared an interim dividend of 1.3 € cents/share (+8%). Management intends to continue returning excess cash (≥1/3 via dividends) and may be debt free by year end.

Outlook

Management expects H2 revenue growth to exceed H1 and accelerate to double digits into FY2027, led by Real Estate and Auto (subject to inventory trends). Some EBITDA margin compression is expected due to continued investment, but margins are forecast to stay in the mid‑seventies percent range. Summarized from source with an LLMView Source

Key figures

-42.3%1Y

40.4%3Y

%5Y

Performance

35.9%1Y

33.5%3Y

45.0%5Y

Volatility