At Adevinta, we believe everything and everyone has a purpose in life. Our selection of digital brands unlock the full value in every person, place and thing by creating perfect matches on the world’s most trusted marketplaces.
Sustainability is in our DNA, and we are recognised as a global sustainability leader by DJSI Europe. By providing marketplaces where people buy and sell second-hand goods, we contribute to the circular economy and help people live more sustainably.
We're all about matchmaking, and we take the same approach to hiring. But it's not just about finding the right skills for the job. It's also about making sure the role and the culture are the right match too.
We care about gaining and keeping the trust of our users, customers and stakeholders by acting responsibly, promoting sustainability and protecting the environment.
We invest in companies with tangible traction, a potential to scale beyond their domestic market, and who we can support with more than just financial resource.
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Oslo, 23 May 2023 - Adevinta ASA (ADE) (“Adevinta” or “the Company”) reported an acceleration of revenue growth of 15% for Core Markets in the first quarter compared to the same period last year. This was as a result of outstanding performance in mobile.de, benefiting from both a positive price and volume effect, and continued strong performance in other segments.
Gross operating profit (reported EBITDA) amounted to 145 million euros, up 16% year-on-year, representing a 33.4% margin, up 1 percentage point year-on-year.
This was the result of (i) the positive topline evolution, (ii) lower marketing spend across all markets, driven by different phasing, spend discipline and prioritisation, and (iii) cost management in the current market context. This was partly offset by (i) personal costs driven by the continued scaled build-up of global capabilities, with the implementation of new operating models for support functions and Product and Technology teams, the annualisation of the previous years investment in product enhancements and in sales and customer support operations, particularly in legacy eCG markets, to support new business models, (ii) higher direct costs from transactional services, in line with the adoption of the service and revenue growth, and (iii) the (3) million euro expense related to the French DST.Antoine Jouteau, CEO Adevinta, comments:
“We saw a strong start to the year for Adevinta, during which we delivered solid financial performance and made significant progress in the execution of our business and strategic roadmap. Underpinning this performance was the exceptional growth in mobile.de and transaction revenues. We continue to build the foundations for an even more efficient and innovative organisation, while we improve our products and services. I remain encouraged by the continued energy and dedication shown by our teams and I am confident that we are well positioned to execute and deliver on the many opportunities that lie ahead.”
Highlights of Q1 2023
Strong Q1 2023 results performance in a soft macro environment
Further acceleration in Core markets revenue growth : +15% year-on-year, driven by outstanding performance at mobile.de
Total consolidated revenues at €435m, up +14%2 yoy
Reported EBITDA margin of 33.4%, up 1pp yoy, despite French DST impact and business mix evolution
Total consolidated EBITDA of €145m
Strong cash flow generation and continued deleveraging
Continued execution of our Growing at Scale strategy
Business integration on track, with further roll out of new operating models for support functions, and synergy targets confirmed
Verticalisation4 of Adevinta’s operations ongoing:
Strong focus on operational excellence, with:
Outlook: all targets confirmed
2023 outlook
Long-Term ambition for Core markets
Synergy targets confirmed
Financial performance
Operating revenues by category
1 Excluding InfoJobs Brazil, Kufar and Mexico.
Presentation of the Q1 2023 Results
Quarterly Earnings ReleaseTime: 23 May 2023 at 16:45 CEST
Report for the first quarter of 2023, presentation materials, and spreadsheet with key figures and analytical information will be made available on the investor relations pages at https://www.adevinta.com/ir.
Presentation of the Quarterly Results Time: 23 May 2023 at 17:30 CEST
The company will conduct the presentation as a live audio webcast and conference call, including a Q&A session. CEO Antoine Jouteau and CFO Uvashni Raman will present. The whole management team of Adevinta will participate in the Q&A session.
The webcast will be available on https://www.adevinta.com/ir and on this link: https://edge.media-server.com/mmc/p/geyme8z3. Participants are also invited to ask questions using the dial-in numbers below.
Dial-in details:UK: +44 (0) 121 281 8004USA: +1 718 705 87 96Norway/Sweden: +46 850 51 00 30France: +33 1 70 91 87 04Confirmation password: Adevinta2023Q1
A recording of the presentation will be available on our website shortly after the live webcast has ended.
-end-
Contact information:
IR contactsMarie de ScorbiacVP Investor Relations & Corporate Affairs+33 6 14 65 77 40ir@adevinta.com
Anne-Sophie JugeanInvestor Relations Manager+33 6 74 19 22 81ir@adevinta.com
Media contactMélodie LarocheCorporate Communicationsmelodie.laroche@adevinta.compress@adevinta.com
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About Adevinta
Adevinta is a leading online classifieds specialist, operating digital marketplaces in 11 countries. The company provides technology-based services to connect buyers with sellers and to facilitate transactions, from real estate to motors, and consumer goods.Adevinta’s portfolio spans more than 25 digital brands, covering one billion people and attracting approximately 2.5 billion average monthly visits. Noted assets include top-ranked leboncoin in France, Germany's leading classifieds sites mobile.de and Kleinanzeigen, Marktplaats in the Netherlands, Fotocasa, Habitaclia and InfoJobs in Spain, Subito in Italy, and 50% of fast-growing OLX Brasil. Adevinta employs around 5,700 people, including some 3,000 working in product and technology teams, committed to supporting users and customers daily.
Adevinta is a sustainability leader within the Dow Jones Sustainability Index (DJSI) Europe.Find out more at Adevinta.com.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
1 Excluding InfoJobs Brazil, Kufar and Mexico 2 Excluding InfoJobs Brazil, Kufar and Mexico3 Net cash flow from operating activities adjusted for CAPEX and IFRS 16 lease payments4 Alignment of the organisational structure with the Group strategy, based on three key pillars: Mobility, Re-commerce and Real Estate & Emerging Verticals
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