Swiss Marketplace Group H1 2026: Double Digit Revenue Growth as Leadership Changes Announced

The Swiss Marketplace Group (SMG) has released its interim report for 2026, while announcing an executive reshuffle that will see CEO Christoph Tonini step down to take a new position in the boardroom.

Highlights for the first half of the year include:

• Group revenue increased to CHF 179.8 million (USD 223 million), up 11.3% year on year
  • of which Real Estate revenues were CHF 88.5 million $109.8m), up 11.5%
• Group Adjusted EBITDA was CHF 101.5 million ($125.9m), up 15.8%
  • of which, Real Estate adjusted EBITDA was CHF 55.7 million ($69.1m), up 17.5%
  • of which, Real Estate adjusted EBITDA margin was 62.9%, up 3.2 percentage points
• Adjusted EBITDA margin expanded by 2.2 percentage points to 56.5%
• Profit after tax doubled to CHF 56.4 million ($70m)
• FY 2026 guidance: Revenue growth narrowed upwards to 11–12%; Adjusted EBITDA margin confirmed at 56–58%

SMG operates a successful portfolio across Real Estate (ImmoScout24, Homegate, Flatfox, CASASOFT, IAZI), Automotive (AutoScout24, MotoScout24), General Marketplaces (anibis.ch, tutti.ch, Ricardo) and Finance & Insurance (FinanceScout24, moneyland.ch).

Real Estate revenue was up 11.5% year-on-year, while Adjusted EBITDA margin grew by 3.2 percentage points to 62.9% in the half year. SMG said growth was driven by Professional classified revenue (up 10%) with ARPA up 5.4%, "the first net increase in agents in three years". ARPA growth in the core customer base remained firmly double-digit, while the successful win-back of smaller agencies and adoption of the Flex offering broadened the customer base, resulting in a temporary mix effect on reported ARPA growth.

Meanwhile, the Automotive and General Marketplaces segments accelerated slightly faster than Real Estate, up 12.2% and 13% respectively.

CEO Christoph Tonini said:

"The first half of 2026 demonstrates the continued strength of SMG’s diversified marketplace portfolio. We delivered broad-based double-digit revenue growth, further expanded profitability and strengthened our market positions by growing our customer base and advancing product innovation and AI-enabled enhancements.

"After almost four years as CEO, leading SMG through a major transformation and successful IPO, I feel we have reached a natural point for me to transition out of the operational leadership. I remain fully committed to SMG and look forward to contributing as Chairman, subject to shareholder approval.”

Tonini will depart the company at the end of the year, with Alberto Sanz de Lama appointed as his successor from January 1, 2027. Sanz de Lama is already a member of SMG’s executive leadership team and currently leads the Group's automotive business unit.

SMG said:

Alberto has been a key contributor to the Group’s strategic development and business decisions. He brings more than 20 years of proven leadership experience across technology and digital marketplaces, including senior roles at eBay and AutoScout24 Germany.

Meanwhile, Jörn Nikolay will step down as Chairman of the Board during the Group's Annual General Meeting in April 2027. The Board will propose Tonini for election as Chairman of the Board.

Sanz de Lama said:

“As we deepen customer value and scale innovation within a disciplined financial framework, our focus will remain on turning the strength of our platforms, brands and talented people into tangible benefits for our customers and partners. We will continue to invest selectively in the capabilities that matter most, while maintaining the agility and financial discipline that underpin our performance."