{"id":45584,"date":"2023-08-07T18:39:09","date_gmt":"2023-08-07T22:39:09","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/shares-in-scout24-climb-on-higher-preliminary-results-guidance-upgrade\/"},"modified":"2023-08-07T18:39:11","modified_gmt":"2023-08-07T22:39:11","slug":"shares-in-scout24-climb-on-higher-preliminary-results-guidance-upgrade","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=45584","title":{"rendered":"Shares in Scout24 Climb on Higher Preliminary Results, Guidance Upgrade"},"content":{"rendered":"
\n

By Andrea Figueras<\/p>\n

<\/pre>\n
Shares in Scout24 jumped on Monday after the company posted higher preliminary first-half revenue and earnings and upgraded its guidance for the year as a whole.<\/p>\n
At 0831 GMT shares were up 7.2% at EUR62.08.<\/p>\n
\n
The German real-estate marketing company posted preliminary first-half earnings before interest taxes depreciation and amortization from ordinary activities of 146.5 million euros ($161.3 million), up 21% organically, and revenue of EUR243.8 million, representing a 12% increase on an organic basis.<\/p>\n
These figures imply second-quarter revenue in line with consensus expectations and a 12% beat of ordinary operating Ebitda, UBS analysts said in a research note.<\/p>\n
The slowdown in the German property market accelerated secular growth in digital marketing, Jefferies analysts said in a note, citing new members, above-inflation price rises, product upsell and limited incremental costs.<\/p>\n
Scout24 also upgraded its guidance for 2023, thanks to the contribution from recently-acquired Sprengnetter Group and assuming continued strong demand. The company expects revenue growth at 15% and consolidated Ebitda from ordinary activities to increase between 18% and 19%.<\/p>\n
Analysts had expected Scout24’s 2023 revenue to grow 11% and ordinary operating Ebitda to rise 13%, according to consensus estimates provided by the company.<\/p>\n
While the guidance upgrade seems to be driven by the Sprengnetter acquisition, the company’s underlying trading appears good with continued strong demand for its core products, Jefferies analysts said.<\/p>\n
<\/pre>\n
Write to Andrea Figueras at andrea.figueras@wsj.com<\/p>\n
<\/pre>\n<\/p><\/div>\n<\/div>\n
Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"
By Andrea Figueras Shares in Scout24 jumped on Monday after the company posted higher preliminary first-half revenue and earnings and upgraded its guidance for the year as a whole. At 0831 GMT shares were up 7.2% at EUR62.08. The German real-estate marketing company posted preliminary first-half earnings before interest taxes depreciation and amortization from ordinary […]<\/p>\n","protected":false},"author":1,"featured_media":1898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-45584","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nShares in Scout24 Climb on Higher Preliminary Results, Guidance Upgrade | iFintechWorld<\/title>\n<meta name=\"description\" content=\"By Andrea Figueras Shares in Scout24 jumped on Monday after the company posted higher preliminary first-half revenue and earnings and upgraded its\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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