Baltic Classifieds Group (BCG) H2 2026 earnings summary

Executive summary

• Revenue and EBITDA both grew 7% year-over-year, with revenue reaching €88.5m and EBITDA at €68.6m, maintaining a 78% margin.

• Real estate was the strongest vertical, up 17%, while jobs/services grew 9%, generalist up 3%, and automotive remained flat due to Estonian car tax and weak market conditions.

• Excluding the one-off impact from the Estonian car tax, the group delivered double-digit growth.

• Market leadership remains strong, with 57 million monthly visits and traffic 5–60x higher than nearest competitors.

• Employee engagement is high, with 95% proud to work at the company and average tenure of 8 years.

Financial highlights

• Total revenue reached €88.5m, up 7% year-over-year.

• EBITDA grew 7% to €68.6m; operating profit rose 13% to €60.4m.

• Adjusted net income increased 7% to €58.1m; adjusted basic EPS up 9% to €0.123.

• Cash generated from operations rose 5% to €69.9m, with a 99% cash conversion ratio.

• Total dividends for 2026 proposed at €0.044 per share, a 16% increase year-over-year, including a special dividend.

Outlook and guidance

• Revenue growth of around 10% expected in 2027, with stronger growth in H2.

• Real estate, auto, and jobs are anticipated to be primary growth drivers; generalist expected to remain flat.

• Full-year EBITDA margin expected to remain in the mid-70s.

• Pricing events in B2C and C2C segments scheduled for autumn, supporting yield expansion.