Scout24 SE

Latest Results (13.05.2026):

Scout24 SE: Q1 2026 — Strong start to 2026 with double‑digit top‑line growth and margin expansion. Group revenue rose 13.9% to EUR 179.6m (organic +10.7%), ordinary operating EBITDA increased 15.1% to EUR 107.9m with a 60.1% margin, and management reaffirmed 2026 guidance while upsizing the share buy‑back to up to EUR 350m.

Revenue headline

Group revenue Q1 2026: EUR 179.6m (+13.9% year‑on‑year; organic +10.7%). Growth driven by higher subscription uptake in Professional and Private segments and stronger pay‑per‑ad activity.

Profitability & EBITDA

Ordinary operating EBITDA: EUR 107.9m (+15.1%); ordinary operating EBITDA margin 60.1% (+0.6 pp). Reported EBITDA: EUR 112.4m (+30.8%) helped by fewer negative non‑operating effects (share‑based compensation reversal, lower reorganisation costs).

Net income & EPS

Operating profit (EBIT) EUR 98.8m (+33.8%). Net income EUR 68.5m (+37.1%). Basic earnings per share EUR 0.97 (prior year EUR 0.69); adjusted EPS EUR 0.95 (+20.1% YoY).

Cash flow & capital allocation

Operating cash flow EUR 64.2m (+10.0%); free cash flow EUR 56.3m (+10.6%). Company increased 2026 share buy‑back to up to EUR 350m (first tranche up to EUR 100m nearly used; second tranche up to EUR 250m to run through 2026).

Segment performance — Professional

Professional revenue +15.8% in Q1 2026. German subscription revenue EUR 89.5m (+14.5%); average German customers 24,383 (+3.7%); Professional ARPU Germany +10.5%. Subscription revenue Rest of Europe (including Spain & Austria) EUR 9.6m.

Segment performance — Private

Private revenue +8.8% in Q1 2026. Average customers 507,602 (+2.5%). Subscription ARPU +2.7% (new tiering/pricing model supporting upsell). Pay‑per‑ad revenue +13.5%.

Costs & operating discipline

Total operating expenses +12.2% — below revenue growth. On an organic basis, cost growth in mid‑single digits. Notable line items: personnel +2.2%, marketing +26.7% (new B2C launches), IT +19.5% (Spanish platform consolidation), purchasing +14.2%.

Non‑operating items & financial result

Non‑operating effects were positive versus prior year (reversal of share‑based compensation provisions), supporting reported results. Financial result improved ~59.1%, mainly due to foreign‑exchange gains.

AI, product & outlook

Management highlighted increasing contribution from AI (products such as HeyImmo, PropstackAI) to engagement and efficiency. Management reaffirmed 2026 guidance: revenue growth 16–18% (6–7 pp inorganic from Spain) and ordinary operating EBITDA margin up to 61% (organic up to 64%).