Scout24 Raises Guidance as Professional and Private Subscriber Counts Tick up in Q2

The Munich-based real estate portal operator Scout24 delivered another strong quarter, with group revenue up 15.5% year-on-year to €318.2 million in the first half of 2025. Highlights from the company's report for the quarter ended 30th of June include:

• Quarterly revenue stood at €161 million in Q2, up 15% year-on-year.
• Ordinary operating EBITDA was up 17% year-on-year at €102 million. Net income was up 13% at €39 million.
• The company's professional segment saw revenue increase 14.5% to €116 million for the quarter.
• Scout's Private segment subscriber base grew 15% year-on-year to over 502,266.

Commenting on the results, Group CEO Ralf Weitz said:

"In the second quarter, we maintained strong momentum across our business. Particularly encouraging is how our ecosystem expands progressively: Our innovative product portfolio drives customer growth in both segments, with content and traffic continuing to grow across our platform. We are also deepening engagement and creating more connections between all market participants.

As we move forward, we’re embracing AI across the organisation, highlighted by the upcoming launch of our HeyImmo AI assistant, AI product integrations as well as implementing AI tools for all employees to drive operational efficiency. Our upgraded guidance reflects the strong business momentum we’re seeing in our core operations."

Scout24 owns and operates ImmoScout24, the market-leading real estate portal in both its native Germany as well as in Austria.

Unlike other portals in mature markets, Scout24 has managed to grow its base of professional agent subscribers considerably over the past few years and has benefited significantly from the expansion of its core customer base. In Q2, the company noted that subscription revenue from its professional segment grew 15% year-on-year as its agent count reached nearly 26,000 despite a temporary slowdown in transactions.

As for its Private segment, which sees Scout charge landlords, renters and those looking to buy for adjacent services and premium portal access, the company revealed that its subscriber count has now ticked over half a million. The average revenue the company is able to extract from each of these consumers ticked up 6% year-on-year, and there was also good growth in the portal's FSBO listings business.

Buoyed by first-half momentum, Scout24 upgraded its 2025 outlook. New guidance calls for revenue growth of 14–15% (previously 12–14%), including around 3 percentage points from inorganic contributions, and ordinary operating EBITDA margin expansion of up to 70 basis points.