Scout24 FY2025: Double Digit Revenue Growth as Impending Acquisitions Adjust 2026 Guidance

Scout24, Germany's biggest real estate marketplace operator and part of the DAX Index, has released its provisional financial results for the final three months of 2025 and its full-year results.

Highlights for the quarter include:

• Revenues were €165.7m, up 13% year-on-year
• of which, Professional Revenues were €120.5 million (up 13.5%)
• of which, Private Revenues were €45.2 million (up 11.6%)
• Ordinary Operating EBITDA was €106.1 million, up 16.7%
• EBITDA was €84.5 million, up 9.7%
• EBITDA margin was 64.1%, up from 62% in Q4 2024
• Net profit for the period was €49.5 million, up 29.6%

Highlights for the full year include:

• Revenues were €649.6 million, up 14.7% year-on-year
• of which, Professional Revenues were €470.5 million (up 14.8%)
• of which, Private Revenues were €179 million (up 14.5%)
• Ordinary Operating EBITDA was €405.7 million, up 16.5%
• EBITDA was €341.3 million, up 13.3%
• EBITDA margin was 62.5%, up from 61.5% in 2024
• Net profit for the period was €240 million

Ralf Weitz, CEO at Scout24, said:

"We had a strong year in 2025. We expanded our ecosystem with greater product depth, grew our customer base and content, and made significant progress integrating AI across our platform and operations. This positions Scout24 to play an even more central role in German real estate transactions. We expect continued momentum in 2026 and I look forward to sharing our updated strategy at our Capital Markets Day in May this year."

Scout24's place in Germany's real estate ecosystem goes far beyond a simple pay-to-list market leader. The company plays a big role in supporting German real estate agents' workflows, while consumers are also monetised through several products. As such, subscription revenues for Scout24 remain a highly lucrative segment of the business, growing by 15.4% for the year in the Professional segment, while Private Subscriptions revenue was up by 18.8%.

ARPU increased by 9.5%, supported primarily by the residential real estate agent business and the expanded product offering of the new properties specialist, Neubau Kompass. Customer numbers reached an all-time high of 26,027 on average (+5.7% year-on-year), driven by successful new customer acquisition in Germany and continued growth in Austria.

On the consumer side, users can now search for properties on ChatGPT after Scou24 launched an app in February—one of the first major portals in Europe to do so. The ImmoScout24 app in ChatGPT displays current listings with photos and prices directly in the chat. Users will be redirected to the listing on ImmoScout's portal in one click. Users can also engage with HeyImmo, an AI chat assistant.

Scout24's guidance for 2026 suggests results will be inorganically boosted thanks to the imminent acquisition of several Spain-based assets, including Fotocasa and Habitaclia, for circa €155 million:

Scout24 Group is convinced that it can offer its customers strong added value in various market situations with its diversified product portfolio. The Management Board is therefore confident that revenue can also be increased in 2026 while maintaining high profitability based on the further implementation of the product- and tech-led strategy with a focus on interconnectivity and AI. Specifically, the Management Board expects revenue growth of 16-18%, of which 6-7 percentage points are attributable to inorganic contribution from Spain.

Scout24 announced a new €500 million share buyback scheme in December, while competition authorities effectively halted the acquisition of the Austrian land registry data specialist Immounited in January.

Markets responded somewhat positively to Scout24's statements, but the portal operator has seen a steady decline in share prices since a historic high in May 2025 (€119.90 per share) to €69.7 per share at the time of writing.