Scout24 (G24) Q1 2026 earnings summary

Executive summary

• Achieved double-digit organic revenue growth of 13.9% year-over-year in Q1 2026, with margin expansion and strong B2B and B2C performance, supported by AI-driven product innovation and the first-time consolidation of the Spanish business.

• Ordinary operating EBITDA increased 15.1% to €107.9 million, with margin improving to 60.1%, reflecting operating leverage and ongoing investments in product, tech, and AI.

• Adjusted EPS grew 20.1% to €0.95; basic EPS rose 40.2% to €0.97; net income increased 37.1% to €68.5 million.

• Completed Spain acquisition (Fotocasa/Adevinta Real Estate S.L.U.) in February/March 2026, with integration and restructuring underway.

• Share buy-back program upsized to €350 million for 2026, reflecting confidence in business outlook and strong cash generation.

Financial highlights

• Q1 2026 revenue rose 13.9% year-over-year to €179.6 million; professional segment revenues up 15.8% to €133.6 million; private segment revenues up 8.8% to €46.0 million.

• Ordinary operating EBITDA increased 15.1% to €107.9 million, with margin at 60.1% (+0.6pp); reported EBITDA up 30.8% to €112.4 million.

• Adjusted EPS grew 20.1% to €0.95; net income reached €68.5 million (+37.1%); basic EPS at €0.97 (+40.2%).

• Free cash flow increased 10.6% to €56.3 million, representing 84% of adjusted net income.

• Net debt increased to €340.9 million (from €144.5 million at year-end 2025), leverage ratio at 0.81, mainly due to share buybacks and Spain acquisition.

Outlook and guidance

• Full-year 2026 guidance confirmed: group revenue growth of 16–18%, with 6–7 percentage points from Spain/M&A.

• Group ordinary operating EBITDA margin expected up to 61% (organic up to 64%), reflecting continued leverage in core business.

• Continued focus on AI-driven product innovation, ecosystem expansion, and momentum in both Professional and Private segments.