AVIV Group, the parent company of some of Europe's leading real estate portals has announced that it grew revenue 3% in the first half of 2023 compared to the first half of 2022.
In a press release issued by AVIV Group's parent, the German media powerhouse Axel Springer, the company stated that adjusted for what it called "negative consolidation effects", AVIV's revenue growth for the period was closer to 6%. Together with its jobs classifieds division (Stepstone), Axel Springer's online classifieds assets managed to increase Adjusted EBITDA by 9% compared to the first half of 2022.
Mathias Döpfner, CEO of Axel Springer said of the company's performance in the first half of the year:
"The fact that we were able to grow despite a challenging economic
environment is remarkable. I want to thank all our employees for their dedicated and excellent work. Axel Springer is very determined to become a purely digital media company that uses the opportunities of artificial intelligence to make quality journalism and classifieds offerings even more relevant and successful.
Döpfner highlighted the acquisition of recruitment advertising agency Bayard, which is set to strengthen Stepstone's business:
"StepStone's acquisition of Bayard was a strategically significant move. As one of the largest acquisitions in Axel Springer’s history, it has the potential to be a game changer for StepStone in the U.S. and further fuel their rapid growth."
AVIV Group owns and operates several important portals in Europe including French market leader SeLoger. It is also a shareholder in hybrid agencies in Germany and Spain as well as the Zumper rentals marketplace in the United States.
Unlike its competitor Adevinta (which has yet to release its half-yearly results but saw classifieds revenue increase 16% in Q1), AVIV Group is not a public company and does not release a breakdown of its financial results.