Adevinta ASA reports strong Q1 financial performance, with revenue growth of 11%

From GlobeNewswire: 2024-05-28 16:37:00

Adevinta ASA reported strong Q1 2024 revenue growth of 11% year-on-year, excluding the Hungarian business divestment. EU5 markets saw a 12% increase, with double-digit growth in classifieds, transactional services, and solid performance in real estate. Total revenues were €480 million, up 11% year-on-year, with EBITDA of €165 million, up 14%. Overall, strong financial performance and continued deleveraging were noted.CEO of Adevinta, Antoine Jouteau, highlighted the successful execution of their Growing at Scale strategy, emphasizing the strong start to the year and the firm financial foundation for growth. Key drivers include Mobility, Real Estate, and transactional businesses. The company confirmed a long-term ambition for annual revenue growth between 11-15% for EU5 Markets and a 2026 EBITDA margin of 40-45%.Bidco Norway AS fulfilled Regulatory Approvals Condition with settlement expected on May 29. Financial details for Q1 2024 include total revenues of €480 million, up 11% year-on-year, EBITDA margin of 34.4%, and total EBITDA of €165 million, up 14%. The focus remains on operational excellence and continued deleveraging, with debt repayment of €50 million in the quarter.



Read more at GlobeNewswire:: Adevinta ASA (ADE) – Adevinta reports strong Q1 financial