Baltic Classifieds Group PLC

Latest Results (05.07.2026):

Baltic Classifieds Group PLC — H1 2026 (six months ended 31 October 2025): the Group delivered a solid half-year performance with revenue up 7% to €44.8m, EBITDA up 7% to €35.2m (78% margin), adjusted net income up 9% to €30.1m and basic EPS rising 22% to 5.5 euro cents; traffic averaged 58m visits/month and the Group moved to a net cash position during the period.

Key financials

Revenue €44.8m (+7% y/y); EBITDA €35.2m (+7%) with a 78% margin (vs 79%); operating profit €31.1m (+18%); profit for the period €26.4m (+22%); adjusted net income €30.1m (+9%).

Earnings per share

Basic EPS 5.5 euro cents (H1 2026) vs 4.5 cents a year earlier (+22%); adjusted basic EPS 6.3 euro cents (+10%).

Cash, leverage and returns

Cash from operations €35.7m (cash conversion 99%). Voluntary debt repayment €10.0m; share buybacks €6.4m; net cash of ~€5.1m at period end (moved from net debt of €3.6m). Interim dividend declared 1.3 euro cents per share (up 8%).

Revenue mix and ARPU/yield

Core classifieds (B2C + C2C) = 91% of revenue. B2C (52% of group) +13% y/y; C2C (39%) +3% y/y. ARPU rose in all B2C lines: Real Estate +16%, Auto +13%, Jobs +5%. C2C yield per listed ad: Real Estate +27%, Auto +29%, Generalist +26%; Services per active ad +1%.

Operational metrics and traffic

Websites averaged 58 million visits per month (vs 56m). Market-leading positions maintained across main portals (e.g., Aruodas.lt, Autoplius.lt, Skelbiu.lt). B2C customer counts steady; total FTEs ~153 (avg).

Inventory and ad volumes

Ad volumes impacted by faster selling and Estonia auto tax: Real Estate listed ads -7% and active -5%; Auto listed ads -29% and active -26% (Estonia transactions halved, Lithuania +8%); Services active ads +11%; paid listed ads on Generalist -15% though total inventory (paid + free) remains high.

Costs and margins

Operating costs ex D&A €9.7m (+8%), driven by labour, IT and data costs. Depreciation & amortisation fell (one-off amortisations ended), supporting operating profit growth. Guidance expects some EBITDA margin compression to mid‑70s due to ongoing product and AI investments.

Strategic initiatives & outlook

Investments in AI, product upgrades and data (e.g., Property Price Compass, Autopulsas, AI-assisted listings and fraud detection). Management expects H2 revenue growth above H1 and FY2027 to accelerate into double digits, Real Estate and Auto to lead growth, continued shareholder returns (≥1/3 of excess cash via dividends) and potential to be debt-free by year end.