SMG Delivers Record FY25 as Margins Jump After IPO

Swiss Marketplace Group posted a strong FY25, its first full-year result after last year’s IPO, with double-digit revenue growth and a sharp increase in profitability across its marketplaces.

• Group revenue rose 14.1% year-on-year to CHF 332.0 million (USD 442.1 million)
• Adjusted EBITDA increased 29.4% to CHF 180.2 million (USD 229.1 million)
• Adjusted EBITDA margin climbed 6.4 percentage points to 54.3%
• Board proposes a dividend of CHF 0.82 per share
• 2026 guidance calls for 10 to 12% revenue growth and a 56 to 58% EBITDA margin
• Mid-term IPO guidance was reaffirmed, with revenue growth in the low 10% range and EBITDA margins in the low-to-mid-60% range

Commenting on the results, Christoph Tonini, CEO of Swiss Marketplace Group, said:

“Our priority is clear: deliver tangible value for users and customers. In 2025, we strengthened our marketplaces and improved the experience for users and professional customers. We are scaling AI to simplify workflows, automate routine tasks and help agents, dealers and sellers reach the right buyers faster. This is how we turn innovation into everyday impact for our customers.”

SMG was created in 2021 when Scout24 Switzerland and TX Group’s marketplaces businesses were brought together under a single group, creating a heavyweight across property, automotive and general classifieds. Since then, the company has grown into one of Switzerland’s dominant internet companies, spanning real estate brands including ImmoScout24 and Homegate, automotive platforms AutoScout24 and MotoScout24, and general marketplaces Ricardo, tutti.ch and anibis.ch.

Swiss Marketplace Group (SMG) Assets

The real estate unit remained the group’s largest profit engine, with revenue rising 12.5% to CHF 164.1 million (USD 208.6M) and adjusted EBITDA up 30.6% to CHF 98.9 million. Automotive was the fastest-growing segment, up 16.4% to CHF 81.7 million (USD 103.9M), while general marketplaces increased 15.8% to CHF 75.7 million (USD 96.2M), helped by higher take rates and ongoing product upgrades.

SMG listed on the Swiss Exchange in 2025 and is now pitching investors on a mix of marketplace depth, pricing power and AI-led product development. Management said the group is expanding AI features across search, listing creation and trust and safety, with more tools aimed at agents, dealers and sellers due to follow.