Scout24 reported impressive Q2 2025 results, with group revenue rising 15.5% to €318.2 million in H1 and EBITDA surging 17.3% to €195.4 million, boasting a robust 61.4% margin. Despite these gains, shares fell 6% post-announcement, reflecting investor concerns over high valuations and real estate market uncertainties. The subscription business shone, with professional segment revenue up 14.9% and private subscriptions skyrocketing 24.2%, driven by a 15.3% increase in paying users. The company raised its full-year outlook, now forecasting 14–15% revenue growth and stronger margins.
AI and DAX Ambitions in Focus
CEO leadership emphasized AI as a key growth driver, with plans to launch a new AI assistant for property searches. Analysts highlight Scout24 as a top contender for DAX inclusion, given its 50% five-year market cap growth to nearly €9 billion. However, lingering mortgage rate pressures on transaction revenues temper optimism. The stock, trading at €115.80, remains 36% above its 2024 close, underscoring its resilience in a challenging market.
