Georg Chmiel, iProperty Group Managing Director and CEO said “I am extremely pleased that we have recorded another half of record growth. We are expecting to continue our exceptional growth trajectory through the remainder of 2015. With leadership does also come the responsibility to continually innovate to better serve the industry and drive future high growth. As such, we have just launched a series of new solutions such as the iProperty Goggles (virtual show rooms), iProperty IQ (data services) and extended our Project Marketing offering – all will support our continued growth.”
Revenue (m A$)
EBITDA (m A$)
Operating Cash Flow (m A$)
A further increase in the Revenue growth rate and EBITDA is expected for H2/15.
Organic growth was the driver of the vast majority of the strong uplift in Revenues and EBITDA. The integration and development of the recently acquired businesses of Squarefoot (Hong Kong) and ThinkofLiving (Thailand) have also proceeded ahead of expectations.
In the first half of 2015 alone, Malaysia generated record revenues of $9.4m (2014: $7.3m) up 30% and a strong EBITDA of $5.0m (2014: $3.8m) representing an EBITDA margin of 53% (2014: 52%). Growth is expected to continue in the second half of 2015. The company now occupies a dominant position in the market with in excess of 85% market share.
Revenues for the Hong Kong region were $3.9m up 94% and the EBITDA growth was more than 100%, with the company’s market leadership position continuing to increase. Thailand saw revenues since its acquisition on 1 April 2015 of $595k and an EBITDA of $221k (2014: nil) at an EBITDA margin of 37%, with over 45% market share in a cluttered market. Indonesia further extended its leadership position and has now a 50% market share in a very fragmented market, clearly demonstrating its leadership.
The group’s International Project Marketing (Transaction Business), started in 2014, delivered marginal EBITDA profits for the first time and strong revenue growth.
The group also shows its first positive operational cash flow of $1.0m (2014: loss of $150k).
The underlying operating metrics across the group have also improved significantly.
Average Online Revenue per Development (A$)
Unique Visitors (millions)
Registered Users (million)