The Mitula Group Limited, a leading global classifieds group, is pleased to release its quarterly update for the three months ending 30 September 2018 (“Q3”).
Key highlights for Q3 include:
- Record quarterly revenue1 of AUD 12.8 million – an increase of 49.4 percent over the previous corresponding period;
- Revenue of AUD 34.1 million for the nine months ending 30 September, an increase of 40.3 percent over the same period in 2017 and more than the full year revenue for 2017;
- Adjusted EBITDA2 of AUD 3.7 million, an increase of 42.3 percent over the previous corresponding period;
- Adjusted EBITDA margin of 28.9 percent and improvement over the 26.2 percent reported for the first half 2018;
- Total visits to the Company’s sites were 276 million, a record level and an increase of 25.5 percent over the previous corresponding period; and
- The yield per visit was 4.6 cents – an improvement of 17.9 percent over the 3.9 cents generated in the previous corresponding period.
Revenue for Q3 was a record AUD 12.8 million, an increase of 49.4 percent over Q3 in 2017 when the Company reported revenue of AUD 8.6 million.
The Company delivered AUD 34.1 million in revenue for the nine months to 30 September 2018, a 40.3 percent year on year increase and more than the AUD 33.4 million reported for the 2017 full year results.
AUD Q3 2018 Q3 2017 Growth Revenue1 12.8 m 8.6 m 49.4% Adjusted EBITDA2 3.7 m 2.6 m 42.3% Yield per Visit 4.6 cents 3.9 cents 17.9% Visits to Company Sites 276 m 220 m 25.5%
The Company reports Adjusted EBITDA to better reflect the true performance of the business. EBITDA is adjusted for expenses related to the Scheme Implementation Deed entered into with LIFULL and share-based programs.
Adjusted EBITDA was AUD 3.7 million for Q3, an improvement of 42.3 percent over the same period in 2017. The Adjusted EBITDA margin was 28.9 percent in Q3, a 2.8 percent point improvement over the 26.2 percent reported in the first half of 2018.
Total visits to the Company’s sites were 276 million in Q3, a record for any quarter and an increase of 25.5 percent over the same period in 2017 when the Company reported 220 million visits.
The yield per visit, which measures the effectiveness of capturing more value from the existing customer base, was 4.6 cents, a 17.9 percent improvement over the same period in 2017.
Gonzalo del Pozo, CEO and Managing Director of Mitula Group, commented: “We are extremely pleased with the continued strong growth of the Company in 2018.
“There could be a temptation to be distracted by the opportunity we have in the impending LIFULL deal, however, we continue to work hard to generate strong results for the business and it’s shareholders and are very pleased to see the current record-levels of performance.
“Two things are of particular note – this record performance was entirely driven by the organic growth of the business and revenue growth far outstripped the total visits growth resulting in a stronger yield per visit.
“The growth in yield per visit demonstrates the success in implementing our ‘Closer to the Transaction’ strategy where we look to capture more value from each and every visitor to our global network of sites.
“In addition, we achieved a significant milestone during the quarter, as the Dot Property portal in the Philippines (www.dotproperty.com.ph) is now the No.1 property portal by visitation (according to Similarweb). This is further evidence of the diversification of the Group’s activities beyond pure vertical search.”
1. Unaudited financial accounts. No acquisitions over the period.
2. Unaudited financial accounts with EBITDA being adjusted for expenses related to the Scheme Implementation Deed entered into with LIFULL Co., Ltd and share-based programs.
SOURCE Mitula Group Limited
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