Adevinta ASA, a global online classifieds specialist, operating digital online classifieds in 16 countries, has announced tentative numbers for this year’s Q2. The company reported that total revenues are up 36%, year-over-year, hitting €213 million. Organic growth revenue is also up 36%, year-over-year, and at 15% compared to Q2 2019.
When it comes to the breakdown of its main markets, growth is up across the board, with revenue for the French segment up 36%, quarterly year-over-year change EBITDA up 47.7%, and its EBITDA margin 46%
Adevinta’s Spanish segment revenue is up 45%, quarterly year-over-year change EBITDA is up 46%, and its EBITDA margin is 31%.
For the Brazilian segment, revenue is up over 100%, with quarterly year-over-year change EBITDA down 175%, and its EBITDA margins at -11.4%.
Adevinta reported that specific global market removals along with the Grupo Zap acquisition had a 0.6 point positive impact on revenue growth.
Rolv Erik Ryssdal, CEO, commented:
“Our strong sales performance in Q2, with 36% organic revenue growth, confirms the recovery momentum observed over the past quarters, as we also benefited from the gradual lifting of restrictions in all of our key markets. In the quarter, we have increased our EBITDA margin, excluding one-off in Brazil, despite the significant acceleration in marketing and talent acquisition investments. We will continue to ramp up these investments in the second half of the year to reinforce our positions and seize market opportunities."
With the completion of the eBay Classifieds Group acquisition, Adevinta was able to supercharge its revenue intake. Ryssdal says Adevinta is now the world’s leading online classifieds group with a “diversified and complementary portfolio of assets and brands.”
“We are now starting an incredibly exciting new chapter for our business, supported by our talented people, a new Executive team and a committed Board of Directors.
“We have already initiated our strategic review and, following the positive conversations we have had thus far, we are confident about the opportunities that we see in combining the strengths and expertise of both groups. We will unveil the strategy and the financial objectives for the New Adevinta during our next Capital Markets Day, to be held on 30 November 2021."