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Scout24 AG: AutoScout24 acquires Austrian digital marketplace for automotive Gebrauchtwagen.at

DGAP-News: Scout24 AG / Key word(s): Takeover

23.08.2017 / 09:30
The issuer is solely responsible for the content of this announcement.


Scout24 AG: AutoScout24 acquires Austrian digital marketplace for automotive Gebrauchtwagen.at
  • Expanding market position in Austria
  • Approximately 4 million visits per month
  • More than 90,000 listings and approximately EUR 3 million revenue contribution

Berlin/Munich, 23 August 2017 - Yesterday, AutoScout24 GmbH, Munich ("AutoScout24"), a subsidiary of Scout24 AG and a leading European operator of digital marketplaces specialising in the automotive sector, has acquired all shares of Gebrauchtwagen.at Internetportale GmbH, Leibnitz ("Gebrauchtwagen.at").

With a customer base of more than 2,300 car dealers, around 90,000 listings and approximately 4 million visits per month, Gebrauchtwagen.at has a leading position on the Austrian market. In 2016, the automotive classifieds portal generated revenues of EUR 3.3 million and an EBITDA of EUR 1.6 million yealding a margin of 49%, underlining the company's high profitability.

"This acquisition not only secures us the brand name Gebrauchtwagen.at but also provides us access to an even larger dealer and user base in Austria. As a result, we are further expanding the leading position of AutoScout24 across Europe. Gebrauchtwagen.at is highly profitable and excellently matches our defined growth strategy, " said Christian Gisy, CFO of Scout24 AG.

Austria is the only core market besides Germany, where Scout24 is present with both digital marketplaces for automotive and real estate. " While pursuing our OneScout approach, we can tap into further revenue potential by leveraging revenue synergies between our digital marketplaces, for example in the area of display advertising. This makes Austria an attractive country market for us", Gisy added.

The acquisition was valued on the basis of common market multiples and was completed yesterday, 22 August 2017 ("Closing"). The purchase price is fully paid in cash. The Gebrauchtwagen.at business will be consolidated into the Scout24 Group beginning from the time of the closing. The Management Board of Scout24 AG expects the transaction to have a positive effect on the ordinary operating EBITDA margin of the AutoScout24 segment. The acquisition of Gebrauchtwagen.at does not have a material impact on the leverage ratio of Scout24 Group.

"We are excited about this expansion of our business. As a result, our overall traffic in Austria on the digital automotive marketplaces will nearly double with the new acquisition. Gebrauchtwagen.at is highly popular among users and car dealers and the brand and offering will remain present in the market", said Christian Nowak, Managing Director of AutoScout24 GmbH, Vienna.

The acquisition of Gebrauchtwagen.at is the second major takeover by the Scout24 Group in the area of digital marketplaces in the automotive sector in Europe. In February 2016, the Group acquired the Dutch automotive classifieds portal European AutoTrader B.V. and fully integrated it into the existing business of AutoScout24 Netherlands. AutoScout24 is active in eight European countries with leading positions in Italy, Austria and the Benelux region.

About Scout24

With our leading digital marketplaces ImmobilienScout24 and AutoScout24 in Germany and across Europe we are inspiring people to make their best decisions on finding a home and a car. More than 1,000 employees are working on the success of our products and services, putting the consumers' needs first in order to create a connected network for living and mobility. Scout24 is listed on the Frankfurt Stock Exchange (ISIN: DE000A12DM80, G24). For further information, please visit http://www.scout24.com/, our Corporate Blog and Tech Blog, or follow us on Twitter and LinkedIn.

Investor Relations

Britta Schmidt
Vice President Investor Relations & Treasury
Tel.: +49 89 44456 3278
Email: ir@scout24.com

Media Relations

Marie Fabiunke
Director Corporate Communications & PR
Tel.: +49 30 24301 1427
E-Mail: marie.fabiunke@scout24.com


Disclaimer:

All information contained in this document has been carefully prepared. However, no reliance may be placed for any purposes whatsoever on the information contained in this document or on its completeness. No representation or warranty, express or implied, is given by or on behalf of the Company or any of its directors, officers or employees or any other person as to the accuracy or completeness of the information or opinions contained in this document and no liability whatsoever is accepted by the Company or any of its directors, officers or employees nor any other person for any loss howsoever arising, directly or indirectly, from any use of such information or opinions or otherwise arising in connection therewith.

The information contained in this release is subject to amendment, revision and updating. Certain statements, beliefs and opinions in this document are forward-looking, which reflect the Company's or, as appropriate, senior management's current expectations and projections about future events. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. Statements contained in this document regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The Company does not undertake any obligation to update or revise any information contained in this press release (including forward-looking statements), whether as a result of new information, future events or otherwise. You should not place undue reliance on forward-looking statements, which speak only as of the date of this document.



23.08.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: Scout24 AG
Dingolfinger Str. 1 - 15
81673 Munich
Germany
Phone: +49 89 44456 - 0
Fax: +49 89 44456 - 3000
E-mail: ir@scout24.com
Internet: www.scout24.com
ISIN: DE000A12DM80
WKN: A12DM8
Indices: SDAX
Listed: Regulated Market in Berlin, Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; London


 
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