Idealista Sees 16% Revenue Growth in 2024 As Employee Bonus Eats Into Profit

The Madrid-headquartered real estate portal operator Idealista saw revenues of over €300 million in 2024, according to filings seen by local publication Expansión.

The figure represents year-on-year growth of 16% for the company that owns the leading portal in its native market as well as the leader in Portugal and two portals in Italy, which are locked in a battle for supremacy with arch-rival Immobiliare.it.

Idealista Assets

While total revenues topped €300 million, revenues for the company's domestic subsidiary, Idealista SAU, increased 15% to stand at €159 million for the year.

As for profits, Idealista's total EBITDA amounted to €84 million in 2024, a 10% decrease compared to 2023. Idealista continues to show net losses (€52 million in 2024) due to the goodwill related to its acquisition.

According to sources cited by Expansión, the decline in Idealista's EBITDA in 2024 can be chalked up to an increase in personnel expenses. The company paid its employees a bonus linked to its acquisition by Cinven last year.

Idealista has now paid its employees three similar bonuses in the space of nine years, having been acquired by three different private equity interests in that time (by Apax Partners in 2015, by EQT in 2020, and by Cinven in 2024).