Bli medlem
Bli medlem

Du är här

2021-07-15

Adevinta ASA (ADE) - Adevinta reports further recovery in Q2, presents the new Group structure

  • Total revenues up 36% yoy at €213m
  • Organic revenue growth of 36% vs Q2 2020 (+15% vs Q2 2019)
  • EBITDA1 up 24% year-on-year to €52m
  • Acquisition of eBay Classifieds Group completed
  • Disposal of Shpock completed and sale process for remaining UK assets ongoing
  • Management to present some key assets and market opportunities 

Oslo, 15 July 2021 - Adevinta ASA (ADE) (“Adevinta” or “the Company”) reported total revenues1 of €213 million, up 36% in Q2 compared to the same period last year. Organic revenue growth2 stood at 36% year-on-year, and at 15% compared to Q2 2019, demonstrating further recovery across the board. 

Online classifieds revenues improved by 39% (of which 6% is attributable to transactional services) compared to Q2 2020, which was strongly impacted by the Covid-19 crisis. Display advertising revenues increased 35% year-on-year. 

Disposals in Global Markets and the Grupo Zap acquisition had a 0.6 point positive impact on revenue growth, whilst changes in exchange rate contributed negatively with 0.4 points.

Gross operating profit (EBITDA) including JVs increased 24% compared to Q2 2020 (+5% compared to Q2 2019). Revenue growth and benefit from divestments were partially offset by the negative one-off of ESOP costs in Brazil, as well as by strong marketing investment in France, increase in personnel costs in the absence of government subsidies, and ramp-up of transactional services. 

Rolv Erik Ryssdal, CEO, commented: 
“Our strong sales performance in Q2, with 36% organic revenue growth, confirms the recovery momentum observed over the past quarters, as we also benefited from the gradual lifting of restrictions in all of our key markets. In the quarter, we have increased our EBITDA margin, excluding one-off in Brazil, despite the significant acceleration in marketing and talent acquisition investments. We will continue to ramp up these investments in the second half of the year to reinforce our positions and seize market opportunities.

“On 25 June, we completed the acquisition of eBay Classifieds Group, a game-changing transaction for Adevinta, making us the world’s leading online classifieds group with a diversified and complementary portfolio of assets and brands. We are now starting an incredibly exciting new chapter for our business, supported by our talented people, a new Executive team and a committed Board of Directors.

“We have already initiated our strategic review and, following the positive conversations we have had thus far, we are confident about the opportunities that we see in combining the strengths and expertise of both groups. We will unveil the strategy and the financial objectives for the New Adevinta during our next Capital Markets Day, to be held on 30 November 2021."

Q2 2021 Highlights

Further recovery in revenues

  • Total revenues up 36% yoy at €213m
  • Organic growth of 36% yoy (+15% vs Q2 2019)
  • Online classifieds revenues1 up 39% yoy (of which 6% from transactional services)
  • Display advertising revenues1 up 35% yoy 

EBITDA1 up 24% yoy to €52m

  • Top line growth
  • Benefit from divestments
  • Partially offset by strong marketing investment which more than doubled vs Q2 2020 
  • Increase in personnel costs (one-off benefits in Q2 2020 related to Covid-19 temporary redundancy support and expected ramp-up in hirings)
  • Increase in transactional costs due to the ramp-up of the service
  • One-off impact of ESOP in Brazil

Acquisition of eBay Classifieds Group completed on 25 June 2021

  • Creation of a globally scaled, pure-play online classifieds leader with a diversified and complementary portfolio of assets and brands
  • New Executive team to drive forward Adevinta’s long term strategy and ambitions

Disposal of Shpock completed and sale process for remaining UK assets ongoing

  • Sale of Shpock completed on 2 June 2021
  • Active engagement on the Gumtree UK and Motors.co.uk sales process

Q2 2021 trading update

Commentary and financial numbers in the following section of this document refers to proportionate numbers including JVs. 

Adevinta Overview

 Second quarter(€ million)YTD
yoy%20202021ADEVINTA20212020yoy%
33%145193Operating revenues37532017%
86%1120Proportional revenues from JVs382456%
36%156213Operating revenues incl. JVs
Författare GlobeNewswire

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.