Spanish media group Vocento reported mixed performance for its classifieds division in 2024, with revenue up 6.4% year-on-year to €29.8 million, but EBITDA down 5% to €6.1 million. The EBITDA margin for the segment dipped to 20.5%.
Vocento says its Classifieds division underperformance was impacted by disappointing results for real estate portal Pisos.com. Pisos.com struggled in what the company described as a “more challenging market environment.” Vocento said the downturn in the property sector weighed on classifieds EBITDA, even as other segments like Premium Leads showed growth in performance-based services.
The company confirmed last week that it had agreed to sell Pisos.com to Italy-based Immobiliare.it, for €22.5 million in cash. Ahead of the deal, Pisos.com CEO Miguel Angel Alemany has also exited the business.
Immobiliare.it has been expanding its European footprint and the deal marks a deeper entry into the Spanish real estate portal market, where it already owns Indomio.es and Enalquiler.com.
CoStar Group has confirmed that reports of layoffs at its Australian residential real estate portal, Domain, are accurate. CoStar said...
Read More
CoStar Group has escalated its copyright battle with Zillow, filing an amended complaint on the 27th of March that accuses...
Read More
Swedish market leader Hemnet has completed the nationwide rollout of its "sell first, pay later" product, making it available across...
Read More
This week, we introduce a new type of roundup to reflect an influx of press releases from portals that have...
Read More
