Brief: Adevinta 2023 Raises Outlook

Adevinta ASA

31/08/2023 06:19

Aug 31 (Reuters) - Adevinta ASA  ADEA.OL :
    * REG-ADEVINTA ASA (ADE) - ADEVINTA REPORTS STRONG RESULTS IN Q2; IMPROVES OUTLOOK FOR 2023
    * 2023 OUTLOOK IMPROVED
    * 2023 OUTLOOK IMPROVED: REPORTED EBITDA AT TOP END OF PREVIOUSLY ANNOUNCED EUR 620M TO EUR
650M
RANGE
    * LONG-TERM AMBITION FOR CORE MARKETS CONFIRMED
    * 2023 OUTLOOK: DOUBLE DIGIT CORE MARKETS REVENUE GROWTH
    * 2023 OUTLOOK: REPORTED EBITDA AT TOP END OF PREVIOUSLY ANNOUNCED EUR 620M TO EUR 650M
RANGE
    * 2023 OUTLOOK: FURTHER DELEVERAGING EXPECTED, TOWARDS 2X NET DEBT/EBITDA IN MEDIUM TERM
    * REVENUES IN THE CORE MARKETS GREW 14% YEAR-ON-YEAR IN THE SECOND QUARTER
    * THIS WAS PRINCIPALLY DRIVEN BY THE OUTSTANDING PERFORMANCE OF MOBILE.DE, WHICH BENEFITED
FROM
BOTH POSITIVE PRICE AND VOLUME EFFECTS, SUPPORTED BY CONTINUED STRONG RESULTS IN OTHER SEGMENTS
    * CLASSIFIED REVENUES GREW 17%, ONCE AGAIN DEMONSTRATING THE STRENGTH OF OUR MARKET
POSITIONS,
VALUE PROPOSITION AND BUSINESS MODELS
    * OUR EBITDA MARGIN IN THE SECOND QUARTER SAW A 3-POINT INCREASE YEAR-ON-YEAR, DESPITE THE
BUSINESS MIX EVOLUTION AND THE NEGATIVE IMPACT OF THE FRENCH DST, REFLECTING OUR TOP LINE
EVOLUTION AND THE STRICT FINANCIAL DISCIPLINE WE HAVE MAINTAINED THROUGHOUT THE BUSINESS
    * WE ARE MAKING GOOD PROGRESS IN THE VERTICALISATION OF OUR OPERATIONS, ANNOUNCED AT THE END
OF
2022
    * TRANSACTIONAL SERVICES DELIVERED AN IMPRESSIVE REVENUE GROWTH OF 53%, WITH CONTRIBUTION
FROM ALL
CORE MARKETS

Source text for Eikon:  ID:nGNE3m7WTH 
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