BCG Financial Year 2024 Results: 20% Real Estate YoY Revenue Growth Among Several Strong Metrics

Baltic Classifieds Group (BCG), the operating company behind several successful marketplaces in Europe, has released its FY2024 financial results in this year's interim report.

Highlights include:

• Group Revenue grows 19% YoY to €72.1 million (was €60.8 million in 2023)
• Group profits up 38% to €32 million (was €23.2 million in 2023)
• Real estate revenue grows 20% YoY to €18 million
• EBITDA margin up slightly, to 77% (was 76% in 2023)

BCG owns most of the main players in real estate, car and job classifieds in Estonia, Lithuania and Latvia.

Baltic Classifieds Group Assets

The firm says its market leadership in real estate is significant in both Lithuania—where the company is based—and Estonia. Aruodas (Lithuania) achieves 17x more time spent on its real estate portal than its closest competitor, while KV (Estonia) achieves 19x more time spent on its website than the closest competitor.

As such, it was a strong year for real estate, at 20% revenue growth YoY, marginally behind the Auto segment's 24% growth. To quote the firm's interim report:

Real Estate revenue growth comes from yield improvement, growth in the number of listings and rising transaction values.

The Board is guiding to 15% revenue growth in 2025, with Auto, Real Estate and Jobs & Services expected to grow marginally ahead of this number and Generalists below the overall Group average.

Further numbers from BCG's full-year results show a healthy 22% growth in Average Revenue Per User (ARPU), to €181, while the number of brokers per month also grew slightly. Active ads per month rose 20% to 20,016 (16,628 in 2023), while revenue per active ad was flat at €23.

Justinas Šimkus, CEO at BCG, said:

"The strongest growth came from our core classified revenue streams—B2C and C2C—which together account for 90% of BCG’s revenue.

"Notably, B2C performance saw the highest growth at 22% year-on-year, driven by both an increase in customers and ARPU growth across all our business units. The remaining 10% of the group’s revenue comprises ancillary and banner advertising revenue."